
Why 93% of People Overpay Taxes and How To Fix It
Send us Fan Mail You’re watching the surface. The real work happens off-camera. See how creators, founders, and brands build at https://attractivemindsetstudio.com/ In this episode of Attractive Mindset, we sit down with Mario Payne, a board-certified financial planner, tax strategist, founder of one of Florida’s largest Black-owned investment firms, and creator of AI-powered estate planning platforms. Mario breaks down why so many people overpay taxes, the difference between a CPA and a tax strategist, how business owners can legally reduce tax liability, and why wealth building starts with understanding how money, taxes, investments, estate planning and entity structure work together. This conversation covers everything from Mario’s early life in Cincinnati, getting kicked out of school in ninth grade, begging colleges for a chance, attending Tennessee State, joining the military reserves, surviving a near-death blood clot, working at GE, saving the company millions, getting rewarded with a pizza party, and realizing corporate America was not for him. Mario also explains how he became a financial advisor during the Great Recession, built his own investment firm in 2013, bought his office building using an SBA loan, scaled to managing hundreds of millions in assets, and now uses AI to increase productivity, automate estate planning, and help more people protect their wealth. Topics include: - Why 93% of people may be overpaying taxes - CPA vs tax strategist - How to legally reduce tax liability - Section 162 business deductions - LLCs, S-Corps, C-Corps and partnerships - Tax write-offs for entrepreneurs - Real estate depreciation and cost segregation - Estate planning, trusts, wills and power of attorney - Why every homeowner should consider a trust - How AI is changing financial services - Building a financial planning firm - Business automation with virtual assistants and AI - Using debt as leverage - How to structure a business properly - Why documentation matters during audits - The truth about refunds and tax strategy - How to teach clients not to overspend - Why mentorship matters before entering a new industry Mario also shares one of his biggest financial mistakes: buying a semi-truck for the tax write-off without getting the proper mentorship first. Even as a financial planner, he explains why smart people still make costly business decisions when they enter industries without guidance. If you are a business owner, W2 employee, 1099 worker, real estate investor, financial professional, insurance agent, notary, entrepreneur or high-income earner trying to understand taxes, trusts, investing, AI and wealth strategy, this episode is packed with practical financial education. Chapters & Timestamps 00:00 – Opening hook: taxes, AI, refunds and estate planning 01:16 – Meet Mario Payne, board-certified financial planner 02:02 – Why 93% of people may be overpaying taxes 03:09 – Cincinnati, school challenges and getting into Tennessee State 04:12 – Inroads internship, GE and joining the military reserves 05:56 – Saving GE $4 million and getting a pizza party 07:03 – Leaving corporate America and becoming a financial advisor 08:57 – Starting his own investment firm in 2013 10:31 – Buying his office building with an SBA veteran loan 12:00 – Business framework: cut expenses, leverage debt and grow slow 14:15 – Building a modern financial advising team with AI 15:20 – Why Mario says entrepreneurs must lean into AI 19:42 – AI, estate planning and scaling community impact 21:13 – Internet trolls, bad financial advice and compliance 24:05 – How AI creates more time for client service 25:38 – Managing $1M vs $5M portfolios 27:20 – Tax strategy for high earners and investors 28:51 – CPA vs tax strategist: why refunds are not the goal 31:06 – Section 162 and ordinary business deductions 32:52 – Documentation, business cards and piercing the corporate veil 36:00 – Tax examples: farms, children on payroll and 529 strategies 40:48 – LLCs, S-Corps, C-Corps and business structure 43:41 – Real estate, cost segregation and accelerated depreciation 45:59 – Estate planning, trusts, wills and power of attorney 48:38 – Why every adult needs estate planning 54:32 – Misinformation, coaches and financial advice online 58:14 – Mario’s biggest business mistake: buying a semi-truck 1:00:45 – Client behavior, spending discipline and portfolio recovery 1:04:23 – How to work with Mario and The Relax Estate Follow the guest: https://www.instagram.com/toamsfinancialjax/ Challenge Link: https://therelaxinvestor.com/ Mastermind Link: https://therelaxestate.com/ Follow Us: Facebook: https://www.facebook.com/attractivemindsetnetwork Instagram: https://www.instagram.com/attractivemindsetnetwork/ Website: https://attractivemindsetstudio.com/














