The Rich Somers Report How the Wealthy Pay $0 Taxes (Legally) : Tax-Free Wealth Strategies | Carter Cofield & George Acheampong E426
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Nov 20, 2025 Join tax strategist Carter Cofield, known for his innovative tax strategies, and wealth management expert George Acheampong, as they unravel how the wealthy can legally pay $0 in taxes. They delve into eye-opening tactics like self-rentals as a write-off, the 'buy-borrow-die' model for tax-free wealth access, and strategies that allow rental properties to offset W-2 income. Discover the benefits of hiring your kids, trust distinctions, and how to use short-term rentals for maximum tax efficiency. Transform your understanding of wealth-building!
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Run S-Corps Like Real Businesses
- Do only form and operate an S-Corp if you run it like a business: implement an accountable plan and pay yourself a reasonable salary.
- Pay yourself regular payroll to avoid audits and maintain proper documentation.
Turn Rentals Active To Offset W-2 Income
- Do use the short-term rental (STR) rule or spouse real estate professional status to make rentals active, allowing depreciation to offset W-2 income.
- Spend required hours or make rentals seven days or less to convert passive losses into deductible active losses.
Use Spousal REP To Unlock Rental Deductions
- Do make a spouse a real estate professional (750+ hours) to classify rental activities as non-passive and allow deductions against spouse's W-2 income.
- This unlocks depreciation and active loss offsets across both spouses when filing jointly.
