Why Smart Entrepreneurs Never Pay 'Full Price' on Taxes with Adam Williams

Entrepreneurs on Fire

John Lee Dumas

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4.8 • 4.1K Ratings

🗓️ 27 November 2025

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

Attorney Adam Williams co-founded Pennywise Tax Strategies with his CPA wife, Jackie—helping entrepreneurs save money on their taxes, avoid IRS headaches, and get a better grasp of their numbers.

Top 3 Value Bombs

1. Your tax return holds secrets—line 24 of your 1040 shows your true bill. Don't ignore it.

2. Tax strategy is not about evasion, it's about year-round optimization and legal incentives.

3. Foundational steps like proper entity setup or leveraging your home can yield huge savings without changing your lifestyle.

Go to Adam's website and grab the free Seven Commonly Missed Tax Strategies free guide - Pennywise Tax Strategies

Transcript

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0:00.0	Light that Spark Fire Nation. JLD here and welcome to Entrepreneurs on Fire, the only daily show
0:07.7	interviewing the world's top entrepreneurs seven days a week. Today we'll be breaking down
0:11.6	why smart entrepreneurs never pay full price on taxes. To drop these value bombs, I brought to Adam
0:16.9	Williams and the EO Fire Studios. Attorney Adam co-founded Pennywise tax strategies with
0:21.6	his CPA wife, Jackie, helping entrepreneurs save money on their taxes, avoid IRS headaches,
0:27.0	and get a better grasp of their numbers.
0:29.5	And today we'll talk about the number one mindset shift to start paying less, the difference
0:33.8	between write-offs, credits, and more, and also the five most commonly
0:37.5	mis strategies that all entrepreneurs should know about and oh so much more.
0:41.8	And the big thank you for sponsoring today's episode goes to Adam and our sponsors.
0:46.4	Fire Nation, this is your year to get unstuck and to grow a successful business.
0:51.1	Attend the world's highest rated business growth workshop taught personally by
0:54.3	Clay Clark and now featuring football star Tim Tebow and President Trump's son, Eric Trump,
0:58.6	at ThriveTime Show.com slash EO FIRE. Again, request life-changing tickets today at ThriveTimeshow.com
1:05.4	slash EO FIRE. Are you ready for the ultimate all-in-one platform for entrepreneurs, marketers, coaches, and
1:12.6	agencies? Build funnels, automate follow-ups, manage clients, and even white label your
1:17.7	own software. Say hello to our featured partner high level and visit high levelfire.com
1:26.0	to start your free trial today. Adam, say what's up to Fire Nation and share
1:33.2	something that you believe about becoming successful that most people disagree with. Yeah,
1:39.1	what's up, Fire Nation? All right, so this is an interesting one. And I think it comes down to this.
1:45.2	I don't think that good advice comes in sound bites. I think it's usually a little more complex than that. So as an example,
1:52.0	I think a lot of people say, oh, you got to hustle, you got to work hard to be successful. And there's a
	...

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