52. How a Success Mindset Allows Karlton Dennis to Help Others Achieve Financial Freedom
Chances are, many of us won't become exactly the person we envisioned when we were younger. If your reality doesn't match your vision, you might feel like you've been cast adrift, unmoored from anything solid. But it doesn't have to be that way: you can shift and pivot toward new possibilities. That's what our guest today did: from a college football star, Karlton Dennis became a top tax strategist. Now, he helps others on their path to financial freedom.
In this episode, Karlton Dennis tells us how he makes tax sexy and leads people to financial freedom. He details the key events that led him to transform into the person he is today so we can learn from his success story. He also shares the traits he picked up from his mother and the habits of the highly successful people.
If you want to get a peek into the mindset and characteristics of high-achieving individuals, then this episode is for you!
Three reasons why you should listen to the full episode:
Discover the world of tax planning and strategy and how to leverage it for financial freedom.
Be inspired to awaken your entrepreneurial spirit.
Learn why Karlton believes balance has no place in your life when you’re chasing success.
Resources
● Connect with Karlton: Website | Instagram | Twitter | Facebook
● Schedule a coaching call with Karlton!
● Start on your journey to financial freedom! Get FREE tax strategy tips on Karlton’s YouTube channel!
Episode Highlights
[03:20] How Karlton Makes Tax Sexy
● Karlton is not a traditional tax accountant—he positions himself as a tax strategist.
● In contrast to simply filing their taxes at the end of the year, he teaches business owners and investors strategies to reduce their tax bills.
● These strategies get people walking down the road to financial freedom.
[05:15] How He Got Into Tax
● Karlton earned a scholarship in college through football and initially thought he was going to go pro.
● He ended up getting a career in sales. After doing an incredible job for a wine business, he decided to focus on his own personal training business.
● He then joined his mother's firm, where he saw how tax planning could change families' lives.
● Eventually, he studied the tax code and got his Enrolled Agent license, which allows him to practice in 50 states. He now runs a big tax firm.
● Karlton wanted to help business owners understand tax in a short period of time and attain financial freedom. That’s when his tax planning YouTube channel was born.
[07:56] Mindset for Success
Football didn't pan out for Karlton, but the mindset he learned from the sport helped him succeed at tax strategy.
Karlton: “In football, you have this mindset of it doesn't matter who the opponent is across from me, I'm going to win my battle.”
He also adopted the attitude of walking his talk through football. So, he makes sure to provide results for his clients.
[09:22] Lessons from His Mom
● Karlton’s mom, Karla, started her firm when she was a newlywed and young mother.
● From opening the business out of her own home, she eventually got her own office front and made a name for herself in the accounting world.
● Her success is largely due to her consistent and steadfast nature — qualities she instilled in her children.
[12:13] About His Childhood
● Karlton grew up in a predominantly White area.
● While he experienced prejudice and racism, he was grateful to his parents for bringing him up in a safe neighborhood.
[14:17] Finding YouTube Success
● Working with business owners and real estate investors, Karlton started mimicking their habits.
● He realized that they didn’t have to work so hard because their real estate paid them.
● Karlton sees YouTube as digital real estate. And when the pandemic hit and more people turned to technology, he knew he had to get on the platform.
● He started making long-form, searchable content on YouTube and grew it into the channel it is now.
[16:32] Who They Cater To
● Their firm’s skillsets are most applicable to small business owners and real estate investors.
● Karlton considers them sophisticated taxpayers because the tax codes favor them for being in partnership with the government.
● They are the ones who can truly benefit from tax planning, as employees can only write off so much in their taxes.
[17:54] Honing His Passion for Tax
● Karlton enjoys himself the most when he gets to practice a hard-earned skill and gets to inspire people by displaying that skill.
● He never really got passionate about taxes until he mastered the skill and started helping other people.
● To date, he has helped people save millions in taxes, and he plans to touch more lives through tax planning strategies.
● One of the most significant leaps in his career was when he sat in for an appointment with a $100M client and closed the deal.
● He realized he never could have earned that money in that short amount of time if he kept his personal training business.
[23:40] Karlton’s Entrepreneurial Spirit
● The entrepreneur in Karlton started in college, where he started his personal training business.
● He created custom workout and nutrition programs for athletes and students.
● The NCAA caught onto what he was doing and threatened to pull out his scholarship if he didn’t stop.
● He’s grateful for his entrepreneurial experience, as it allowed him to expand his vision and learn multiple skill sets.
Karlton: “In corporate America, I couldn't see but two feet in front of me. And when I decided to become an entrepreneur, I was able to see miles and miles ahead of me.”
[27:28] Karlton’s Greatest Accomplishments
● In his professional career, Karlton considers his employment at Forbes to be one of his best accomplishments.
● At that moment, he felt deserving and started acting like it.
● In his personal life, he feels most proud about getting his wife to transition into his company.
● They’re slowly getting to a place where they can spend time on the family they wish to create.
● His advice for people working with their spouse: value your independence, communicate, and plan.
Karlton: “The one thing you have to always remember is that your spouse is great without you, that's part of the reason why you chose him or her.”
[29:29] Karlton’s Biggest Self-Discoveries
● He used to see himself as a guy who wanted to appear busy all the time.
● Now, he appreciates having time off and getting to travel and integrate with locals.
● In the future, he would like to share his knowledge with the locals in the places he travels to.
● From his experiences, Karlton also realized that you won't find balance when you're truly seeking to master something.
[34:04] Having Ultimate Belief
● Karlton felt like a failure when his football career did not work out.
● It wasn’t until he started pulling in six figures in his job that he felt proud of himself.
● When he removed balance from his life and started doubling down, he found ultimate belief in his capabilities.
About Karlton
Karlton Dennis is a fitness buff turned serial entrepreneur and top-performing tax advisor. He has helped over 10,000 clients save thousands of dollars in taxes and achieve their financial goals.
To help more people find financial freedom, Karlton wrote various ebooks and online courses. In addition, he shares free tax planning advice on his YouTube channel. In 2019, he became an official member of the Forbes Business Development Council.
If you want to learn more from Karlton, make sure to visit his website and YouTube channel. You can also connect with him through Instagram, Twitter, and Facebook.
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