How to Keep Your Money and Win the Tax Game with Carter Cofield

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THIS IS A GAME CHANGER EPISODE!
We know the tax system is a game. But how can you play a game when you don’t know the rules?
In this episode Ash Cash and Carter Cofield discuss:
1. What is the golden tax formula and how does it benefit you?
2. How deducting your tax expenses might actually be hurting you.
3. Why every W2 employee should have a side hustle for tax purposes.
Do you want to leverage your taxes so that you can buy a house without dipping into your own income?
Join Carter Cofield's Tax Free Challenge: www.taxfreecha...
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Опубликовано:

2 окт 2024

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Комментарии : 147

@ChiseledAdonis 2 года назад

Carter just dropped some SERIOUS Game! Using the tax code to our benefit is essential!

@AskBibleNotes 2 года назад

I love the volley when the guest presents the play, and then Ash breaks it down into itty bitty pieces for us in the back. Lol, love ASH CASH!

@arsnphnx44 2 года назад

30mins in.. 😳 Fam. 🤯 I've heard of some of this before but he put a lot of extra sauce 🤑 on what I knew like the rent (office), car, s-corp plays.. But the game this man just dropped for 🆓 was insane! 💎 💎 Thank you so much..🙏🏽 S/o to Carter 🙌🏾.

@cartercofieldcpacartercofieldc Год назад

Yo Fam

@gemscarnivallife920 Год назад

I love it

@arsnphnx44 2 года назад

The Solo 401k rollover & loan to finance businesses/assets w/o tax penalties via E-Trade... WHEW! 💎🗝 💎🗝️ The Board Of Advisors & Destination Meetings play?!?!? 🙉 🍌🍌 And he ain't even done yet!

@cartercofieldcpacartercofieldc Год назад

Hello Fam.I am running a private program for new or old crypto investors on my private trading platform which has been very successful. The idea is to build a solid capital base for investors by helping with trades while they watch, learn, and at the same time build their capital. By the way, the offer is limited, so it will not be available in the future as we will not be able to accommodate a very high population of investors.

@MrPrincessdlow Год назад

It's been over two hours and I keep rewinding

@Everythingrelentless 2 года назад

Carter is the Truth I appreciate you Ash as well....You are giving us Real Game Now it is time to execute. Anybody leaving comments want to work with me let's get it! Leave me your info...Ash I will be a future guest and Carter my future accountant/financial adviser!!!

@chericewells1192 2 года назад

This was Hard… thank y’all!

@OleNoFold Год назад

thank you for these gems Ash!!!

@emperorbrandonel 2 года назад

The moment when #AshCash, realized he was lookin 👀 at $80k! Get that cash B! 😂 #LIGHTISLOVE💡💛🤲🏾

@ervin1jp 2 года назад

Shout out to EYL. I think this is the best episode that I've personally seen so far. So, what would be the interest rate on a loan taken from e-trade? That's an important consideration...

@levelupmediadesign687 Год назад

So much free game here I'm so happy these good guys exist

@cartercofieldcpacartercofieldc Год назад

Yo Fam

@Psalms8922 2 года назад

life changing advice!!!

@cartercofieldcpacartercofieldc Год назад

@contradataxman2991 2 года назад

This information is great info and from owning and operating my own tax firm for the past 12 years, I want to clarify the 100% vehicle write off for businesses. What the brother didn’t say was that in order to write off the entire cost of the vehicle, it must be used 90% of the time or greater for business ONLY in order to take that deduction. So if you are a side hustler and only use your vehicle for business 1/3rd of the time, you do not qualify for that full deduction. You can however still depreciate that vehicle, just not at that rate they’re discussing. This is a cool video but let’s not be car sales “y” abt the game being shared. Give the ppl the good with the bad.

@jbl324 2 года назад

Works out better doing it slowly if still w2 worker car loans are 5/6 yrs write off 10/20k yrly would normally go to taxes

@MarcusJGadson_CFA 2 года назад

Good point, but you know the play…”the IRS can’t prove the vehicle WASN’T used 90% of the time”.

@contradataxman2991 2 года назад

@@MarcusJGadson_CFA true but they can audit that ass and have just hired 700 new lawyers on payroll to go after small businesses in order to turn up the audits so this isn’t the best time to be over embellishing things esp on a Schedule C. That’s the most flagged tax return.

@MarcusJGadson_CFA 2 года назад

@@contradataxman2991 agree 100%. Glad you brought it up!

@djkevikev1 2 года назад

OUTSTANDING!

@oceancity5776 2 года назад

Thanks cash for dumming down so we can keep up. Business line of credit to 401k is a diamond 💎

@MarcusJGadson_CFA 2 года назад

In one sentence, he says the LLC structure can help protect your personal assets…but he also says that when u START your LLC, u can use your personal expenses as a tax write off. Personal assets can’t be protected when u blend personal expenses with business expenses. Great topic!

@Homentertainement2 2 года назад

You missed what he said.. if you’re already paying internet bill, and now you have an LLC that need internet.. we’ll convert that into an business expense instead of an personal expense. This isn’t messing up your liability

@jimmyb.9682 2 года назад

He means when you have an LLC, expenses that WERE personal, can now be written off because you are now using those services and goods to run your business. If a business involves a lot of driving and phone calls, if strategized properly, that car and mobile device can now be moved from the personal expense column to business and therefore, written off. Your clarification is still important there, though.

@MarcusJGadson_CFA 2 года назад

@@Homentertainement2 so it’s no longer a personal expense, even if you use it for personal reasons? Got it

@Homentertainement2 2 года назад

Marcus J. Gadson, CFA, PfMP you should brush up on your sarcasm.. that’s why having a cpa help you was advised there’s laws you have to follow and there’s some loop holes. So if your using for personal some may advise you to write off the portion of the expense that’s actually for the business but who’s explaining every little thing when they want to charge for a course in this stuff. You can also seek counsel, go to irs.gov, or read books on this stuff.. OR WE CAN ASK YOU RIGHT?

@MarcusJGadson_CFA 2 года назад

@@Homentertainement2 👍🏿

@thooker22 2 года назад

SCAM!= Still Confused About Money So many gems!! Signing up now!

@1neofmani 2 года назад

don't allow this flow of info go over your head. connect with your local CPAs and run this information by them with intentions to execute. #LessWork

@TheAGWChannel 2 года назад

These tax savings ideas are all centered around you needing to go into debt and take on a bunch of risk to start a business. You have to make sure you know what your doing or you can easily put yourself in a bad financial situation.

@jbl324 2 года назад

Anyone buying a car should just start business even if u fail u got free car keep ur w2 job work your business few hr a week

@MarcusJGadson_CFA 2 года назад

The risks will always be excluded from these conversations.

@Germimusic 2 года назад

Lifes risky

@anythinggoesviral 2 года назад

I played this back 💯

@stacydemo8607 2 года назад

Great content!!! Outta this world value add!! Sidebar tho... Shout to the Haitian Brother hosting!! 🇭🇹 🇭🇹

@savannahs6513 2 года назад

If you learned anything from this video you should give it a like so more ppl can see this video. He shared so much y’all! Please share this with your loved ones if you care to help them keep money in their pocket. You work most of your life you should be able to keep most of your money.

@ThePhenomenalMsJames 2 года назад

Rewound so many times! Bad boys bad boys lol So many GEMS in this episode!!!! Peace & Blessings!!!

@keiogunn4920 2 года назад

Inside the vault. Heat

@seejoneslift 2 года назад

this is amazing advice about taxes, ty 🙏🏽

@cartercofieldcpacartercofieldc Год назад

I am running a private program for new or old crypto investors on my private trading platform which has been very successful. The idea is to build a solid capital base for investors by helping with trades while they watch, learn, and at the same time build their capital. By the way, the offer is limited, so it will not be available in the future as we will not be able to accommodate a very high population of investors.

@johannagaspard1 2 года назад

Awesome information shared here. Will be aggressive with my taxes this season. Huge take away... S-corps are a pass thru entity. so while you save on self-employment taxes, you have to be strategic with tax planning and optimizing deductions. if not, you will be taxed on the personal end.

@johannagaspard1 2 года назад

Please rewind this, bad boys behind this!!!🤣🤑🤗💪🏾

@bootscrew 2 года назад

You take this guy’s advice you’ll set yourself up for an IRS audit😂😂😂

@keithhicks3358 2 года назад

Great content! Thanks for sharing! I was just sent this link after midnight. Going to start an LLC asap. Now back to rewind this video lol 😂 thanks again!

@whtsap2411 2 года назад

📌📌

@filmlvr25 2 года назад

Thank so much I’ll run it back with the notebook

@frederickjohnson6506 Год назад

Incorrect information about the sole proprietor, You can set up your business under a proprietorship and it's cool to do so, You can open a business account that's a sole proprietor with a bank traditional bank or an online bank business bank account, You just have to have the proper documents to set up one. You can still get all the tax benefits. Kindly said.

@stevensmith1946 2 года назад

Paul Pierce spitting!!

@newmoneytrucker6223 2 года назад

The informs y’all drop for free literally is life changing and has changed mine i appreciate it.

@dooleynotedbykimberly2384 2 года назад

Great content! I am interested in the car deduction (6,000 plus pounds) What I keep finding is there is a cap of $25,000 as a tax write off. Can someone please clarify? Also, does the car have to be new or no older than a certain year?

@cartercofieldcpacartercofieldc Год назад

Yo Fam wassup

@daboilingpoint4 7 месяцев назад

Do you need to have a 'business license' to file for the business tax credit?? Or can you just have an EIN number? Or could you use your personal bank account and write off all of your business expenses??

@keithwisdom1663 2 года назад

is this a business car????? be careful- does he have a personal car--- allocate the business car correctly and allocate for personal..... to make it make sense irc 162- ordinary and necessary and reasonable--- business expenses are good---

@ladyeater13 2 года назад

In October I will be starting me the online t-shirt brand after that I Amazon store so I can be able to take advantage of everything he was talking about me as episode put it in today's practice and use.

@MrPrincessdlow Год назад

Ash Cash did you do any interviews on tax havens in the US? I'd love to learn more🎉 Thank you AC

@danagardner3102 2 года назад

This is much needed big ups to yall

@Jusjokesfolk 2 года назад

This COFIELD/ASH CASH GAME IS SO SICK I'M SHAKING

@cartercofieldcpacartercofieldc Год назад

@keithwisdom1663 2 года назад

show them the irs tax code that says this is what it is..... that why you get people on board. hopefully they can read.

@soojoe 2 года назад

tax management is key

@cartercofieldcpacartercofieldc Год назад

@DjProdigy909 2 года назад

Bro was dropping gems this episode!

@LIFELINEMEDIA365 2 года назад

Thank you 🙏🏿

@JessicaSmith-gn3st 2 года назад

This was 🔥

@folaketaylormd 2 года назад

I paused. I went over it in my head, then listened to it again. Right at about 34-35 minutes in. Wow! God bless you Carter. 🙏🏾 Headed to go buy your ebook.

@consettasimmons7229 2 года назад

@nkemjikachris-ken328 2 года назад

A $43,000 profit sent to my portfolio each week, Ms. Angela cole car is amazing.

@olivialopez4163 2 года назад

Wow! How’s that possible please I’ll appreciate your assistance on how to go about it.

@masonwhite5975 2 года назад

I’ve heard a lot about trading and investing with Mrs Angela Cole Carr and how good she is.

@youngbenlegend9965 2 года назад

Her good reputation already speaks for her last month i invested over $100,000 with her and I've already made over $250,000 profit.

@beuladegraffenreid4210 2 года назад

Same here I earn $13,000 a week. GOD bless Angela Cole Carr, she has been a blessing to my family.

@beuladegraffenreid4210 2 года назад

@Alisha Gomez She is always active on what-app APK

@chinarich8899 4 месяца назад

Doing it for the city ❤❤❤❤❤ #Chicago

@TheWorldDivided Год назад

My wife and I run a LLP together how would we file taxes? Use 50% of the expenses if we file jointly or should we just file together?

@cartercofieldcpacartercofieldc Год назад

Hello brother what's up Hope you are doing great in your NFT investment and mentorship program

@justbking6699 2 года назад

The Solo 401k loan play, can you then have tax deduction on loan and deduction on paying it back to your personal self?

@whatsap2149 2 года назад

@keithhicks3358 2 года назад

How do you avoid piercing the corporate veil ? This is in regard to getting your LLC to pay for personal expenses.

@cartercofieldcpacartercofieldc Год назад

Hello brother what's up Hope you are doing great in your NFT investment and mentorship program

@mauricehall8147 2 года назад

"That's a Lay-up."

@serayjah8220 Год назад

Hey My name is Seray Jah, and just watched this wonderful video/interview of yours. This is the best information I have ever got from anyone, and I will be interested to have a one-on-one coaching session with you. And thank you very much for this information and may God reward you abundantly.

@dwisky20 2 года назад

Great info but slow down my man. People don't like fast talkers. You're taking a breath after every sentence. Great info.

@Anniesgranddaughter Год назад

Can we purchase the recording of the 5 day challenge?

@cartercofieldcpacartercofieldc Год назад

@TheEyeofTy 2 года назад

Oh!!! This episode is so very good!!

@marquisejohnson9687 2 года назад

Thank you so much

@stevenvasquez1705 2 года назад

Bro this crazy my mind blown 🤯 thank y’all and it’s not even over

@cartercofieldcpacartercofieldc Год назад

@carlissajamescovington9240 2 года назад

B A R R R R S!!!!

@Lov3wins 2 года назад

Powerful interview! 💎💎💎 Thank you Ash Cash and Carter!👏🏽👏🏽👏🏽

@hoodstar92 2 года назад

dropping gems

@4cloudtravelagencyllc794 2 года назад

Excellent 🥰

@HEIR.BRANDON Год назад

Love this video family! What’s a good app to track your expenses?

@cartercofieldcpacartercofieldc Год назад

Yo Fam

@Germimusic 2 года назад

this guy his dropping DIAMONDS

@royalbillionsmusic 2 года назад

Amazing interview

@IvyBox 2 года назад

🇭🇹🇭🇹🇭🇹

@roswelarea51 2 года назад

Absolutely powerful

@drj-pi9ob 2 года назад

Im very grateful for this! Thank you so much!

@lisaspera8590 Год назад

YOU GUYS ARE FABULOUS I LOVE YOU, THANK YOU FOR THIS VIDEO IT'S GREAT

@TDB87 2 года назад

What are the times for the course

@RicherThanIeverbeen 2 года назад

Talking real spicy so many gemssss

@TheWattsSuperhero Год назад

Love the information from both of you!!!

@emperorbrandonel 2 года назад

Get that money B!🤣🤣🤣 #CarterCofield

@PoppaBoondoxx Год назад

12 minutes in and he already dropping 💎💎💎

@cartercofieldcpacartercofieldc Год назад

Hello Fam what's up Hope you are doing great in your NFT investment and mentorship program

@milonb5680 2 года назад

🔥🔥🔥🔥🔥🔥

@ocleaze 2 года назад

Definitely a game changer!!!

@gloryyy9441 2 года назад

This really where the gems at!

@rdarrett3635 2 года назад

🔥

@grind.dontstop 2 года назад

I just know this video was for me

@afell11 2 года назад

My man Ash. Harlem stand up

@erwinbourne7391 2 года назад

💎 💎 💎 🙏🏾🙏🏾🙏🏾👏🏿👏🏿👏🏿❤❤❤💯

@glocclesner7498 2 года назад

He makes it sound too easy bro

@elfrenavilas 2 года назад

Despite the dip in crypto, I still thank you for the level-headed financial advice. I started forex and crypto investment with $4,345 and since following you for few weeks now, I’ve gotten $18,539 in my portfolio. Thanks so much Mrs Lisa O'brien .

@matinsorkson 2 года назад

I invest with Mrs lisa o'brien too, she charges a 20% commission on profit made after every trading session which is fair compare to the effort she put in to make huge profits.

@barbarawooldridge 2 года назад

As a first time investor I started trading with her with just a thousand bucks. my portfolio is worth much more that now within just weeks of trading with her..

@elfrenavilas 2 года назад

@Mason alfie You can communicate with her by telegram with the username below ...

@elfrenavilas 2 года назад

@Mason alfie INVESTWITHOBRIEN.

@Nanbebe7 2 года назад

Amazing!!

@kashmommytv 2 года назад

i still dont get it ;(

@lisamorrison7737 2 года назад

Thank you both, for all you do. I am so fortunate to have found this channel (every video/interview/expert JUST KEEPS GETTIN BETTER!!) We need y'all out here in these SKREETS, FOR REAL! Thank you doesn't seem like enough but MANY THANKS!! P.s. already signed up for the VIP and can't WAIT TO LEARN & Pick up ALL THE GEMS you laying down!!

@royalbillionsmusic 2 года назад

5 stars

@kestondussbossmarcelle5592 2 года назад

🥲 Thank You!!!

@Terrill_Sales 2 года назад

So much game

@jamesh6441 2 года назад

💎 💎 💎 💎 💎

@FrazierBey7 2 года назад

Great information

@sjones3191 2 года назад

🔥🔥🔥

@Mr260reppin 2 года назад

I like how y'all shooting free game..salute!!💪💯but....your guest should slow down... if u replay this vid..you'll see what i mean...yea i could rewind it but it's not the point... Your mans(Carter)is talking a hundred miles an hr...i was once told..be cautious of fast talkers!!!facts!!!..slow it down a notch...sometimes smooth with the talk..then all of a sudden..fast talking...good interview other than that..

@stevenvasquez1705 2 года назад

First

@roswelarea51 2 года назад

Are you sure you were first lol

@JeanBernardDort 2 года назад

Can I pay what I can and you take the remaking out the profit ?

@FrazierBey7 2 года назад

How can I save on my taxes if I’m investing in the stock market

@MarcusJGadson_CFA 2 года назад

Invest in 401k ($20k annually) to reduce your taxable income , Roth IRA (up to $6k annually)and if you have children who are expected to go to college, invest in a 529 Plan. Also, make sure you do not sell the stock within one year of owning, because the short-term capital gains tax is higher than the long-term capital gains tax. Essentially, make sure u aren’t a short-term trader/investor