Ep 303 How to Legally Pay Less Tax as a Business Owner with Former IRS Agent Carlotta Thompson
Profit Answer Man: Scaling with Profit First & Beyond
Release Date: 01/05/2026
Ep 320 Turning Chaos into Systems: The 90-Day Growth Framework That Scales Any Business with Kathie Feng
Profit Answer Man: Scaling with Profit First & Beyond
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Profit Answer Man: Scaling with Profit First & Beyond
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Profit Answer Man: Scaling with Profit First & Beyond
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Profit Answer Man: Scaling with Profit First & Beyond
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Ep 317 Why 70% of Your Growth Plans Fail: The Real Reason with Casey Woo
Profit Answer Man: Scaling with Profit First & Beyond
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Profit Answer Man: Scaling with Profit First & Beyond
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Profit Answer Man: Scaling with Profit First & Beyond
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Ep 314 From High Revenue to High Profit: The Missing Piece in Your Business with Chris Hallberg, EOS
Profit Answer Man: Scaling with Profit First & Beyond
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Ep 313 Numbers Don't Lie- Why Your Finances Are Your Best Strategy with Nate Littlewood
Profit Answer Man: Scaling with Profit First & Beyond
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Ep 312 Why Your Business Is Always Short on Cash (Even When You’re Busy)with John Scott
Profit Answer Man: Scaling with Profit First & Beyond
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info_outlineHow to Legally Pay Less Tax as a Business Owner with Former IRS Agent Carlotta Thompson
With Former IRS Agent Carlotta Thompson
Most business owners believe high taxes are just the price of success.
They’re wrong.
In this episode of Profit Answer Man, Rocky sits down with former IRS agent turned tax strategist Carlotta Thompson to reveal how the tax system really works, what actually triggers audits, and how profitable business owners legally keep more of what they earn.
This is not about loopholes or risky moves. It’s about understanding the rules well enough to play the game correctly.
In This Episode, You’ll Learn:
- What actually triggers IRS audits and why most business owners worry about the wrong things.
- The common tax and bookkeeping mistakes that quietly raise red flags with the IRS.
- Why home office and mileage deductions are usually not the real problem.
- How poor recordkeeping costs business owners money even when deductions are legitimate.
- Why constantly moving money between Profit First accounts is a warning sign, not a solution.
- When an S Corp makes sense and when it can actually cost you more in taxes.
- Why starting as an LLC gives you more flexibility as your business grows.
- How to shift from asking “Can I deduct this?” to “How can I deduct this legally?”
The Big Takeaway:
Paying less tax is not about gaming the system.
It’s about:
- Knowing what the IRS actually looks for
- Building clean, consistent financial systems
- Aligning profit, tax strategy, and long-term vision
When you do that, audits become less scary, profit becomes more predictable, and your business stops leaking money quietly.
Bio:
Carlotta Thompson is a Founder + CEO
When Carlotta was 14, she remembers becoming enthralled with a booklet on preparing taxes.
She decided then that she wanted to work for the IRS, so at 14 years old, she began studying tax law with the dream of working for the Internal Revenue Service (IRS).
Shortly after attaining her dream of working for the IRS, Carlotta realized that the IRS isn’t actually in place to help small businesses like she’d thought and it felt like she was working for the wrong side. As an auditor, she saw tons of tax returns with sometimes hundreds of thousands of dollars of missed deductions that were detrimental for the client. Carlotta had a bigger dream and mission to directly help business owners pay the least tax legally possible, so what began as a ministry has evolved into Tax Strategists of America!
She now has a Pathway to Zero™ program helping business owners pay the least taxes legally possible!
Links:
Website: https://taxstrategistsofamerica.com/
Facebook: https://www.facebook.com/carlotta.thompson.1
TikTok: https://www.tiktok.com/@carlottathompsonfinance?is_from_webapp=1&sender_device=pc
YouTube: https://www.youtube.com/@carlottathompsonfinance
Conclusion:
Paying less tax is not about shortcuts or loopholes. It’s about clarity, structure, and intention. When you understand what the IRS actually looks for, keep clean records, and align your entity and profit strategy with your long-term goals, taxes stop feeling like a constant threat. This episode with Carlotta shows that real tax savings come from running a better business, not from taking bigger risks.
#ProfitAnswerMan #ProfitFirst #BusinessProfit #TaxStrategy #CashFlow #SmallBusinessFinance #BusinessOwners #IRS #TaxPlanning #FinancialClarity #EntrepreneurLife #KeepMoreProfit #BusinessSystems #MoneyMindset
Find Rocky Lalvani @ www.ProfitComesFirst.com or email him at rocky@profitcomesfirst.com
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Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.