Trump’s New Tax Plan Could Eliminate Income Tax |

Save thousands on taxes in 2025 with these powerful tax strategies for entrepreneurs, investors, and business owners! In this episode of The Wealthy Way, I sit down with tax strategist Karlton Dennis to reveal proven tips that help you maximize deductions, reduce taxable income, and keep more money in your pocket. We cover everything you need to know about Trump the Big Beautiful Bill, how it impacts tip and overtime deductions, the return of 100% bonus depreciation for vehicles, real estate, and business equipment, and advanced strategies like cost segregation, offsetting active income, and leveraging movie investments or oil & gas for massive write-offs. If you’re looking for tax hacks, small business tax tips, or real estate tax strategies in 2025, this video is your ultimate guide to mastering the tax code and building wealth the smart way.
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CHAPTERS:
00:00 - Intro
01:44 - Who is Carlton Dennis
02:19 - The Big Beautiful Bill
05:45 - Bonus Depreciation Benefits
09:10 - Real Estate Applications
12:46 - SALT Cap Increase Explained
16:09 - Economic Impact of Tariffs
19:37 - Jerome Powell Insights
20:38 - Understanding Economic Stagnation
24:40 - Wealth Creation Strategies
28:20 - Quick Decision Making
31:18 - Ryan's Golf Mastermind Program
36:15 - Origin of Golf Mastermind Concept
41:30 - IRS Code 181: Film Investment
47:50 - Trusts and Nonprofit Organizations
50:46 - AI's Impact on Accounting
54:35 - Sam's ChatGPT Experience
57:34 - AI in Advertising
58:20 - Business Spending Strategies
58:51 - Business Vision and Goals
01:02:05 - Community Updates
01:03:02 - Selling Strategies for Businesses
01:05:35 - Challenges in Selling Small Businesses
01:06:56 - Low Churn Strategies
01:08:58 - Contacting Carlton Dennis
01:09:31 - Carlton's YouTube Channel
01:09:36 - Outro