How the Rich Avoid Paying Millions in Taxes: Wealth Secrets You NEED to Know w/ Karlton Dennis

TIMESTAMP:
00:00 IRS Wake Up Call
01:18 Meet Carlton Dennis
03:05 From Fitness To Taxes
05:40 Learning The Tax Plan
07:34 What A Tax Plan Is
09:38 Who The Tax Code Rewards
11:01 Capital Gains And Losses
13:12 LLC To S Corp Setup
16:07 S Corp Vs C Corp
18:14 Retirement And Key Dates
21:48 Roth And Kids Payroll
23:14 HSA And Car Write Offs
25:44 Cost Seg And Short Term Rentals
29:17 Augusta Rule Explained
30:39 Audit Triggers And Omissions
31:07 Audit Red Flags
32:33 SALT Deduction Update
34:12 Child Credits and Accounts
36:58 Earners vs Owners
38:18 Entity Structure Basics
40:29 Delaware vs Wyoming
42:21 California Billionaire Exodus
44:09 LLCs for Liability
45:27 Unrealized Gains Debate
46:41 YouTube Growth Story
49:05 Top LLC Write Offs
50:21 Charity Foundation Strategy
54:16 Income Shifting with C Corps
56:49 Firm Model and Training
01:02:50 Movie Tax Write Offs
01:04:14 Timing Asset Purchases
01:04:54 Final Takeaways

In this episode of Earn Your Leisure, tax strategist Karlton Dennis breaks down the wealth-building tax strategies that business owners, investors, and high-income earners use to legally reduce their tax burden and keep more of their money.

Karlton explains everything from capital gains taxes, LLC structures, Delaware vs. Wyoming incorporations, cash balance plans, HSAs, cost segregation studies, rental property tax strategies, the Augusta Rule, vehicle write-offs, SALT deductions, child tax credits, retirement planning, and the most common mistakes that trigger IRS audits. He also reveals why understanding the tax code is one of the most important skills for building and preserving wealth.

Whether you’re an entrepreneur, investor, real estate owner, or simply looking to become more financially intelligent, this conversation is packed with actionable insights that could save you thousands—or even hundreds of thousands—of dollars. Don’t miss this masterclass with Karlton Dennis on how the wealthy use the tax code to their advantage.

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