Main Street Business

Tough tax and legal questions get clear treatment with topics like selling high-value collectibles and why entity choice does not erase capital gains. Listeners hear about charitable remainder unitrusts, depreciation rules, and when trusts are worth the cost. Practical S‑Corp effects on FICA and Social Security, self-rental real estate strategies, and prohibited transaction pitfalls in IRAs and Solo 401(k)s are also covered.

Mark J. Kohler and Mat Sorensen dive into essential tax strategies for small businesses, focusing on S corporations and the QBI deduction. They clarify missteps in personal investment deductions and debunk common myths about asset protection trusts. The hosts also discuss when auto loan interest can be deducted and highlight the new HSA eligibility rules for 2026. Listeners learn how to navigate the complexities of turning side activities into legitimate businesses and the implications for Solo 401(k)s when acquiring employees.

Many entrepreneurs struggle to stick to their goals, but a solid strategic plan can change that. Learn how writing down your plan boosts execution and clarity. Discover how to create a 10-year vision and break it down into actionable one-year goals. The importance of SMART criteria helps avoid vague objectives, while sharing your plan with trusted partners ensures accountability. With quarterly check-ins and monthly adjustments, you can stay on track and achieve your dreams without burning out.

Discover when buying new equipment can save you on taxes and when it can backfire. Learn how deductions differ from credits, and why sound business decisions should be prioritized over tax benefits. The hosts unpack the complexities of business-use percentages and bonus depreciation, warning of potential pitfalls, especially for S-corps. They stress the importance of timing deductions effectively and maximizing retirement contributions for better long-term growth. Get practical tips for smarter year-end financial decisions!

Discover three crucial year-end retirement deadlines that could potentially double your savings! Learn how to maximize employer contributions to your 401(k) and explore the powerful Mega Backdoor Roth strategy for substantial tax-free growth. Hear about leveraging after-tax contributions, especially from oil rig workers, to rapidly fund Roth IRAs. Plus, find out how high earners can smartly approach conversions to avoid tax pitfalls, and even how to kickstart your kids’ Roth IRAs using their earned income. Don't miss out on these wealth-building insights!

Discover how to transform your holiday party into a fully deductible business expense! Learn the surprising IRS rules for 100% deductions and the key requirements your event must meet. Explore fun and morale-boosting ideas that also satisfy tax codes, like awards and structured programs. Uncover creative strategies like the Augusta rule for home-based events. Plus, find practical tips for documenting your party expenses. Turn holiday cheer into financial savings while building team culture!

Discover 20 powerful year-end tax strategies tailored for small business owners and entrepreneurs. Learn about retroactive S-corp elections, maximizing HSAs, and strategic income timing to save money. Find out how to properly pay family members, leverage bonus depreciation on vehicles, and navigate health reimbursement arrangements. Plus, explore options like tax-loss harvesting and charitable gifts to maximize your deductions before the year ends. Get ready to finish strong and set your business up for financial success!

Bestselling author and family law expert Rebecca Zung joins attorney Mark J. Kohler for a deep dive into protecting your business during divorce. They discuss essential steps for financial preparation and how emotional decisions can sabotage your case. Rebecca outlines the five crucial areas in family law and explains the importance of timing when valuing your business. She introduces her SLAY framework for negotiating with narcissists and reveals how AI can aid in uncovering financial deception. A must-listen for anyone facing divorce!

Dive into essential investing wisdom as the hosts share the top ten due diligence must-dos. Learn why understanding your investment is crucial, and uncover the legal pitfalls of undocumented deals and commission kickbacks. Get insights on evaluating borrowers’ track records and resisting pressure tactics. Discover the power of saying no, hiring advisors, and leveraging CRUTs for crypto benefits. With real client stories and a live Q&A, this session is packed with valuable lessons to protect your wealth.

In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down why every small business owner should hold their annual Family Board Meeting before the end of the year. This powerful meeting isn’t just a formality — it’s a proven strategy to strengthen your business, protect your assets, and educate your family about wealth and responsibility. You’ll learn how to make your Family Board Meeting IRS-compliant, maximize write-offs, document your decisions properly, and create a legacy plan that keeps your business and family aligned for years to come. Mark and Mat share real examples, step-by-step guidance, and practical insights to help you get it done right before December 31st. Don’t wait until tax season to get organized — plan your Family Board Meeting now and take control of your financial future!You’ll learn:How to structure and hold your Family Board Meeting before year-end to stay compliant and maximize tax benefitsThe 7 key reasons every business owner needs an annual Family Board Meeting — from asset protection to financial educationHow to properly document your meeting minutes so your business stays audit-proof with the IRSSmart ways to include your spouse and kids in your business legally — and teach them real-world wealth principlesWhat expenses you can write off when holding your Family Board Meeting, including travel and meeting costsHow this meeting supports your business continuity plan and legacy goals for future generationsSimple steps to get your Family Board Meeting done before December 31st — and set your business up for long-term successGet a comprehensive tax consultation with one of our Main Street tax lawyers that can build a tax strategy plan with an affordable consultation that will leave you speechless!! Here’s the link - https://kkoslawyers.com/services/comprehensive-bus-tax-consult/?utm_source=buzzsprout&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp598-family-board-meeting-by-year-end Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't want to miss this! Secure your tickets for the #1 Event For Small Business Owners On Main Street America: Main Street 360 Looking to connect with a rock star law firm? KKOS is only a click away! Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute discovery call to explore the Main Street Tax Pro Certification. Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!