In this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen offer their expertise on wealth building strategies, tax planning, and legal perspectives for both budding and seasoned entrepreneurs. They discuss four case studies, each bringing unique circumstances and challenges to the table.
Here's what you can look forward to:
- An exploration of how to buy real estate with an IRA or 401K, providing an alternative to traditional investment options.
- An in-depth discussion about the potential of rental properties as a small business, and how to leverage tax write-offs for passive loss carry forward.
- Advice on the process and considerations of selling a business, from structuring the deal to tax implications.
- Insights into the potential of using a Charitable Remainder Trust (CRT) as a tax-saving strategy during the sale of business or real estate.
- They touch on important legal structures, such as S corporations and LLCs, and their role in protecting assets and saving on taxes.
- Lastly, they explore the concept of the 'long game' in real estate investment and how the benefits compound over time.
This episode is a must-listen for anyone interested in real estate investment, tax-saving strategies, and those planning to buy or sell a business.