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

TIMESTAMP:00:00 IRS Wake Up Call01:18 Meet Carlton Dennis03:05 From Fitness To Taxes05:40 Learning The Tax Plan07:34 What A Tax Plan Is09:38 Who The Tax Code Rewards11:01 Capital Gains And Losses13:12 LLC To S Corp Setup16:07 S Corp Vs C Corp18:14 Retirement And Key Dates21:48 Roth And Kids Payroll23:14 HSA And Car Write Offs25:44 Cost Seg And Short Term Rentals29:17 Augusta Rule Explained30:39 Audit Triggers And Omissions31:07 Audit Red Flags32:33 SALT Deduction Update34:12 Child Credits and Accounts36:58 Earners vs Owners38:18 Entity Structure Basics40:29 Delaware vs Wyoming42:21 California Billionaire Exodus44:09 LLCs for Liability45:27 Unrealized Gains Debate46:41 YouTube Growth Story49:05 Top LLC Write Offs50:21 Charity Foundation Strategy54:16 Income Shifting with C Corps56:49 Firm Model and Training01:02:50 Movie Tax Write Offs01:04:14 Timing Asset Purchases01:04:54 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. #EarnYourLeisure #KarltonDennis #Taxes #TaxStrategy #WealthBuilding #BusinessOwners #Entrepreneurship #RealEstateInvesting #Investing #FinancialLiteracy #TaxPlanning #LLC #CapitalGains #IRS #PersonalFinance #WealthCreation #MoneyManagement #SmallBusiness #TaxSavings #FinancialFreedom Subscribe and watch more videos here: https://www.youtube.com/@EarnYourLeisure Join the EYL community for deeper training and a more detailed approach:https://www.eyluniversity.com Join the number one stock club in the world:https://www.ianinvest.com Invest Fest | August 7-9, 2026Grab early bird tickets now: https://www.investfest.comSee omnystudio.com/listener for privacy information.