Avsnitt
-
In this latest episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen explore the Solo 401(k), detailing how self-employed professionals and small business owners can benefit from its substantial contribution caps and diverse investment opportunities, such as real estate and cryptocurrencies.
Here are some of the highlights:
Mark and Mat breakdown how a solo 401(k) is key to building retirement wealth.Mark and Mat unpack the optimal order of investing: Company match, Roth IRA, HSA, then solo 401(k).Why the Solo 401(k) is ideal for high-income self-employed individuals.Cannot have solo 401(k) with full-time employees (1000+ hours/year)Spouse can have separate solo 401(k) if they have their own businessSelf-directing investments: Not limited to stocks, can invest in real estate, private companies, cryptoImportance of maintenance and requirements: Track contributions, file Form 5500 when assets exceed $250,000 Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
In this latest episode of the Main Street Business Podcast, Mark J. Kohler explores the benefits and processes involved in converting to an S Corporation. Learn how making the switch can save your clients money, the critical timelines for filing, and how the Kohler Payroll Matrix can guide setting reasonable compensation.
Here are some of the highlights:
Mark recommends converting to S Corporations when net income reaches $40,000-$50,000.Mark advises and breaks down how to convert an LLC to S Corp using Forms 8832 and 2553.How tax professionals can present the S Corporation strategy as a new tax-saving opportunity to clients.The significance of implementing payroll before year-end for retroactive elections.How to use the Kohler Payroll Matrix as a tool for determining reasonable compensation.Using retroactive S election with Rev. Rule 2013-30 for mid-year conversionsAfter-the-fact quarterly payroll recommended for flexibility. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
Saknas det avsnitt?
-
Join Mark J. Kohler and Mat Sorensen in this episode of the Main Street Business Podcast for a comprehensive guide on setting up and running LLCs and S Corporations. From crucial legal requirements to strategic financial practices, get equipped with knowledge on new BOI reporting rules and how these could impact your business in 2024.
Here are some of the highlights:
Mark and Mat stress the importance of properly setting up and maintaining LLCs and S CorpsMark and Mat advise opening separate bank accounts for entities.Use entity names on contracts, agreements, and property titles.How BOI applies to most small businesses, exemptions for large companies.Mark and Mat debate the crucial effectiveness of BOI reporting.The severity of penalties for non-compliance.The significance of maintaining accurate bookkeeping. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
In this latest episode of the Main Street Business Podcast, host Mark J. Kohler explains the strategic benefits and mechanics of Health Savings Accounts (HSAs). Unpack the tax advantages, flexible contributions, and the array of investment opportunities available through HSAs. From cryptocurrencies to real estate, learn how to maximize your HSA for both health and wealth.
Here are some of the highlights:
Mark explains how an HSA is portable and can be set up with any employer or as an entrepreneur.Mark breaks down the 2024 contribution limits: $4,150 for singles, $8,300 for married filing jointly.Users have the ability to invest HSA funds in various assets (e.g., cows, crypto, rental property)How HSAs can be used for retirement at age 59.5 if not used for medical expenses.Two investment options: Traditional HSA with limited investment choices and Self-directed HSA with broader investment options.The importance of reimbursing yourself for past medical expenses.Potential for higher returns compared to traditional investments Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
In this episode of the Main Street Business Podcast, Mark J Kohler dives deep into the world of LLCs and their critical role in business success. He breaks down the concept of the trifecta and how it can empower entrepreneurs to build their American dream.
Mark explains the importance of understanding what an LLC is and how it can be effectively utilized to protect assets and enhance business operations. He introduces the trifecta concept, highlighting its significance in wealth building and asset protection for business owners. Listeners will learn about the five different types of LLCs and who they are best suited for, along with practical examples to illustrate their uses. Mark discusses common mistakes business owners make when forming LLCs and how to avoid them to ensure a successful setup. The episode covers the transition from a standard LLC to an S Corp and the tax benefits associated with this shift, providing valuable insights for growing businesses. Mark shares his personal journey as an entrepreneur, offering inspiration and actionable steps for listeners looking to navigate their own business paths. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!
Here's what you can look forward to in this episode: -
Can identifying and leveraging underutilized properties truly unlock significant value? In our latest episode, we sit down with Josh McCallen, founder of Accountable Equity, to uncover the secrets of transforming distressed real estate into thriving business ventures. Josh shares his journey from a traditional middle-class upbringing to becoming a major player in the real estate and hospitality sectors, detailing his impressive feat of raising $54 million from investors. You'll hear firsthand how strategic planning and the synergetic integration of business operations with real estate can lead to substantial wealth creation.
Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!
Excited to announce that Josh McCallen will be speaking at our Alt Asset Summit on October 24-25! Don’t miss out—secure your spot now: https://altassetsummit.com/ -
Understanding Real Estate investing and the market in 2024 Join us with Robert Helms from The Real Estate Guys Radio Show as we discuss how rising interest rates impact the market and why a long-term perspective is key. Robert shares strategies for targeting the right markets and building a strong team. Plus, hear about Robert's 18-year-old son Ethan’s first investment in Memphis, highlighting the power of strategic saving and market knowledge.
To get in contact with Robert and his team:
Website and Podcast - https://realestateguysradio.com/
Contacts -
[email protected][email protected]
Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!
Robert is speaking at the 2024 Alternative Asset Summit Hosted by Mat Sorensen - By your Tickets Here! https://altassetsummit.com/ -
Join Mark J. Kohler and Mat Sorensen in this episode of the Main Street Business Podcast as they guide you through effective business scaling techniques. Learn about the strategic hiring of an executive assistant, the importance of establishing SOPs, how to manage onboarding and compliance to safeguard your expansion.
Here are some of the highlights:
Mark and Mat break down the significance of hiring an executive assistant first and foremost.Interviewing at least three candidates before making a decision.Be clear about expectations and work schedule right from the start.Using a payroll service like ADP for tax and legal compliance.How to calculate the potential increase in revenue from freed-up timeSpending time training and introducing the employee to the business.Documenting standard operating procedures (SOPs) for each task.Always be prepared to cut ties if the employee isn't working out within 90 days. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
Join hosts Mark J. Kohler and Mat Sorensen in this latest episode of the Main Street Business podcast as they dive into the critical contracts every business owner should understand. They examine various lease types, discuss the complexities of partnership agreements, and outline the key components of effective employment and service contracts to help listeners navigate their business relationships with confidence.
Here are some of the highlights:
Mark and Mat introduce four essential contracts for small business owners and investors.Explain different types of commercial leases (triple net, gross lease).Mark and Mat emphasize the importance of clarity and thoroughness to prevent disputes and enhance business relationships.Share a real-world example of a landlord losing money due to misunderstanding lease terms.Discuss employment agreements and independent contractor agreements.Stress the need for clear terms on responsibilities and dispute resolution.Highlight common issues in partnerships, such as funding and decision-making.Provide tips on approaching lawyers for contract review and drafting Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
In this episode of the Main Street Business podcast, host Mark J. Kohler unpacks the top 5 strategies that can change the way you think about money. Learn about IRS rules for cryptocurrency, why side hustles are more than just extra cash, and the benefits of retirement accounts like Roth IRAs and the Mega Backdoor Roth strategy.
Here are some of the highlights:
Mark points out how the IRS received $80 billion to enforce more audits and tracking.Mark maps out the three ways cryptocurrency is taxed: selling for USD, trading for another crypto, using for purchases.The significance of side hustles and how essential they are for saving taxes and building wealth.Importance of choosing the right side hustle and developing a business plan.Determining capital needs and structuring the business (sole proprietorship or LLC).The top 10 write-offs for side hustles.Explanation of the 'backdoor Roth IRA' strategy for high-income earners.Introduction to self-directed IRAs and their potential for higher returns. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
Join Mark J. Kohler in this latest episode of the Main Street Business Podcast as he explores the fundamentals of asset protection and privacy. Learn about the essential structures, from LLCs to the advanced "Trifecta Strategy," and how regular reviews and professional advice can boost your financial security.
Here are some of the highlights:
Mark emphasizes how asset protection is about implementing strategies to protect financial assets.Create entities without personal name/address, use mail forwarding services.Measures to level up security/privacy, such as video inventory of belongings, shredding documents, and fireproof safes.Asset protection and privacy has 3 different levels based on asset amount and risk.Mark maps out the Trifecta and how it can be used to enhance asset protection, tax strategies, and estate planning.Why asset protection and privacy are essential for wealth building and security.Importance of regular maintenance and updates. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen decode cryptocurrency tax tactics. They address the uptick in crypto ownership and IRS oversight, focusing on strategies like Charitable Remainder Unitrusts, tax-free trading with Roth IRAs, and LLC setups as S-corporations. They provide examples of significant tax reductions and steps to implement these strategies effectively.
Here are some of the highlights:
Mark and Mat point out how $28 billion in Bitcoin is being bought and traded every 24 hours.How to use CRUT (Charitable Remainder Unitrust) for large capital gains.The advantage of using Roth IRA or Roth 401(k) for tax-free crypto trading. Mark and Mat address crypto mining, staking, DeFi lending, NFTs, and gaming.Importance of reporting crypto transactions to the IRS.The step by step process to set up and fund a crypto Roth IRA.Combining W-2 income with investment strategies.Join us for the FREE 2-Hour Live Crypto Tax 101 Q&A where Mark J. Kohler will unveil his Top 5 Crypto Strategies and then give you an opportunity to get your questions asked and answered. When: August 22 from 9am - 11am PT
Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!
Register now: https://markjkohler.com/free-crypto-tax-101-event/ -
In this episode of the Main Street Business podcast, host Mark J. Kohler guides you through the strategic advantages of S corporations. Find out how to leverage them for maximum tax savings, secure your retirement, and maintain pristine corporate records, ensuring your business thrives for years to come.
Here are some of the highlights:
Mark begins by mapping out the 'trifecta' model: operations, assets, and trust/1040 tax returnExplains how S Corporation allow for splitting income into salary and pass-throughHow this strategy works well for various professionals making $50,000 or moreImportance of diversifying wealth building between business operations and retirement account via Solo 401kHow a Board of Advisors generates more legitimate write-offs for the S corporationS corporations have 1500% less chance of audit compared to LLCsHow to take advantage of tax deductions on travel, meals, and equipment for board members Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
In this episode of the Main Street Business podcast, host Mark J. Kohler and special guest Ashley Burr focus on optimizing business structures and tax benefits. They cover the pitfalls of using rewards points for business expenses, converting 401Ks to Roth IRAs, and selecting the right business structure for spouses. Mark and Ashley also unpack strategies for leveraging HSAs, real estate tax tips, and maintaining a corporate veil, concluding with tax-saving tips via S Corporations.
Here are some of the highlights:
Mark and Ashley introduce tactics to mitigate tax burden from Roth conversionsSingle-member LLC vs. partnership for spousal businessesStrategies for real estate professionals to offset taxable incomeImportance of proper business structure for asset protectionHow to use Roth conversion to eliminate Required Minimum Distributions (RMDs)Significance of comprehensive operating agreements for family business transfersBalancing S Corp salary with Qualified Business Income (QBI) deduction Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
Join Mark J. Kohler in this episode of the Main Street Business Podcast as he simplifies saving taxes and building wealth with the Trifecta System. Learn the basics of legal structures and advanced strategies to protect and grow your assets.
Here are some highlights:
Mark introduces the Trifecta and how it can be used to save taxes, build wealth, and leave a legacy.Mark points how the Trifecta is designed for everyone, not just the top 1%.Emphasizes the importance of starting small and growing.Mark maps out his own personal journey using the Trifecta.How to successfully implement the Trifecta for parents' estate.Encourages self-management with the right professional guidance.Proves how the tax savings and protection strategies work in real-world situations. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen explore the fundamentals of funding your business. Join them as they discuss borrowing, partnerships, and SEC-approved strategies, ensuring you understand the legal frameworks that differentiate these options.
Here are some highlights:
Mark and Mat unpack t three main methods: borrowing, partnering, and raising through SEC-approved mannerMark and Mat discourage blending methods to prevent legal issuesStress the importance of proper documentation for legal protectionSignificance of transparency and proper use of raised fundsImportance of staying in the chosen "lane" (lender, partner, or investor)Caution against relying solely on influencer-provided documents or methodsEnsure proper recording and execution of all legal documents related to raising capital Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
Join Mark J. Kohler and Mat Sorensen in their newest Main Street Business Podcast episode as they tackle the pressing issue of inflation and how it’s reshaping daily life for Americans. From taking on side gigs to mastering budgeting hacks and debt management strategies, they’ve got you covered during these difficult times.
Here are some highlights:
Mark and Mat discuss and break down the impact of inflation on average Americans.Mark and Mat map out strategies to combat rising costs.Emphasize the benefits of side hustles to increase income.Solutions like house hacking to reduce housing costs.Examples of low-cost business ideas and starting small.Significance in taking on any available work in order to make ends meet in difficult times.Importance of self-respect and perseverance. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
In this episode of the Main Street Business Podcast, host Mark J Kohler tells you all you need to know about S Corporations. Learn how to effectively balance your payroll with profit, understand the fundamentals of business structures, and discover tips to optimize your tax benefits.
Here are some highlights:
Mark points out the confusion around determining the right payroll amount.Introduction to the Kohler Payroll Matrix as a solution.Mark breaks down the trifecta: revocable living trust, operations, and assets.Details on how LLCs and S corporations fit into the trifecta.Importance of taking a salary from the S corporation to save on self-employment tax.How the payroll percentage decreases as profit increases.Emphasis on not overcomplicating the payroll determination process. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
In this episode of the Main Street Business Podcast, host Mark J Kohler presents simplified tax strategies for business owners beginning their journey. Learn essential tips to safeguard your assets, reduce your taxes, and confidently control your financial path.
Here's what you can look forward to:
Mark introduces and breaks down the Trifecta concept for tax savings and asset protection.How the Trifecta design can be used as a tool for visualizing and achieving financial goals.Importance of separating business and personal assets for protection.Explanation of the benefits of setting up an S Corporation.Encouragement to invest retirement accounts in non-Wall Street products.Significance of having a tax advisor who understands advanced tax strategies. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! -
In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen unpack the advantages and disadvantages of putting your spouse on the payroll. They shed light on potential pitfalls, discuss savvy alternatives such as board roles and Roth IRAs, and highlight the benefits of Solo 401k contributions and HRAs.
Here's what you can look forward to:
Mark and Mat break down the common misconceptions about paying spouses.Additional payroll costs including FICA, Medicare, and unemployment taxes.The benefits of using board of directors/advisors roles for spouses.Outline of the advantages, including solo 401k contributions for spouses and maximizing retirement savings through payroll.Scenarios where spouses must be on payroll due to material participation.Ensuring compliance with tax laws and regulations. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram! - Visa fler
