Main Street Business

The podcast discusses tax strategies for W-2 earners, including 'above the line' and 'below the line' deductions, the advantages of Health Savings Accounts (HSAs) and retirement accounts, the limitations of traditional tax-saving methods for high-income earners, and the significance of building wealth through asset ownership. The hosts also provide examples of successful wealth builders and emphasize the importance of tax planning and maximizing tax savings.

Hosts Mark J Kohler and Mat Sorensen unpack the complexities of business structures, discussing the advantages of transitioning to an S Corp, tax management for partnerships and LLCs, the role of a board of advisors, tax implications of infusing capital, and the importance of seeking professional advice.

In this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen address a variety of questions from their listeners. The topics range from the tax implications of self-rental and equity grants for startups, to the benefits of converting a side hustle to an S Corp, and the complexities of managing taxes for partnerships and LLCs.Here's what you can anticipate:Detailed explanations on various tax and legal strategies like self-rental of an office condo to an S Corp, equity grants for startups, and the tax treatment of mortgage interest.The hosts debunk common misconceptions about managing taxes for small businesses and provide strategies for maximizing tax savings.A discussion on the importance and role of a board of advisors in a business, including insights into how they can contribute to tax savings and overall business growth.The hosts also discuss the tax implications of infusing more capital into your business and how to handle 'phantom income'.The hosts emphasize the importance of getting professional advice before making tax and legal decisions, highlighting the complexity of these issues and the potential for costly mistakes.Tune in to this episode for expert insights on managing your small business taxes effectively, understanding complex tax strategies, and optimizing your tax savings! Grab my FREE Ultimate Tax Strategy Guide HERE! You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: 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!

Learn how to maximize auto tax deductions for small business owners, including mileage vs. actual expenses. Discover the benefits of electric vehicles and tax incentives available. Explore using trucks and RVs for side hustles and the tax write-offs associated. Understand the implications of the Tax Cuts and Jobs Act and recent changes. Get expert advice on year-end planning and strategies for optimizing tax savings.

In this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen dive into the best tax-free vehicle to grow wealth - the Roth account. They discuss the significant benefits of Roth accounts, the power of time value of money, and the importance of planning and executing strategies before the year ends.Here's what you can expect:An explanation of how to use the best tax-free vehicle to grow and earn wealth, and the benefits of the Roth account.A walkthrough of the strategies to build the Roth account most effectively, including the backdoor Roth IRA and the mega backdoor Roth 401K.The hosts discuss the year-end issues and the importance of planning and executing strategies before then.A detailed discussion on three main groups of people; the entrepreneur with no employees, the corporate employee with no ownership, and the entrepreneur with employees. Insights into the more technical aspects of the Roth account and strategies, such as the after-tax employee contribution and the conversion to Roth.Expert advice for entrepreneurs with employees on exploring safe harbor plans for the most benefits.Listen to this episode to gain valuable insights and strategies on maximizing your Roth accounts and planning for year-end to optimize your wealth growth! Grab my FREE Ultimate Tax Strategy Guide HERE! You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: 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!

Hosts Mark J Kohler and Mat Sorensen share 25-year-end tax tips, including the missteps when setting up legal entities, the new Corporate Transparency Act, and the usage of C Corporations. They also discuss the importance of annual tax reviews, properly dissolving unused entities, and the strategy of paying kids under 18 for tax deductions. Additionally, they compare 529 plans and Roth IRAs for college savings, emphasize the importance of tax planning, and highlight the benefits of estate planning during the holiday season.

In this episode of the Main Street Business Podcast, Mark J Kohler welcomes Jody Moore, a successful life coach, author, and podcast host. This insightful conversation focuses on the intersection of mindset, emotions, and business success.Here's what you can look forward to in this episode:Jody shares her journey from a corporate background to becoming a highly sought-after life coach, impacting the lives of numerous business owners.She provides valuable insights into the mindset shift needed to navigate challenges and achieve goals in business.Mark and Jody discuss the role that emotions play in the world of business, including their effects on communication and sales.Jody introduces the concept of mind management, explaining how managing our thoughts can significantly influence our emotions and actions.Jody emphasizes the importance of coaching in identifying blind spots and moving towards a more empowering mindset.The discussion also covers the power of asking the right questions, focusing on the right thoughts, and understanding that in every result we have, we've created.Learn More From Jody Moore: https://jodymoore.com/ Grab my FREE Ultimate Tax Strategy Guide HERE! You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: 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!

Business owners are constantly oversold legal strategies they don't need, even if it's working for others. Always take the time to understand your needs!Legal strategies should be tailored to your specific situation. Otherwise, you end up paying more in fees, maintenance costs, and unnecessary complexity. Don’t be persuaded by fear or the fact that everyone else is doing it.For an affordable and simple consultation to build your strategy please book a call with one of our tax lawyers serving business owners nationwide at kkoslawyers.comIn this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen explore the tricky world of legal entities and the upcoming changes due to the Corporate Transparency Act. Here's what they cover:The common pitfalls of creating too many legal entities such as LLCs, trusts, and corporations.The new requirement to register every LLC with FinCEN, with penalties including a $500 per day fine and potential jail time.The importance of understanding when to set up an LLC or an S Corp, and how these entities can be used strategically for asset protection and privacy.A discussion on the use of C Corporations, cautioning small business owners about the potential complexities and tax implications.The need for business owners to consider an annual review with a competent tax lawyer and the importance of a tailored approach to small businesses.The importance of properly closing unused entities in light of the new Corporate Transparency Act to avoid hefty penalties and potential legal complications. Grab my FREE Ultimate Tax Strategy Guide HERE! You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: 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!

In this episode of the Main Street Business Podcast, Mark J Kohler welcomes Gino Barbaro, a successful multifamily real estate investor and co-founder of Jake & Gino. In this conversation, the duo dives into multifamily real estate investments, with a particular focus on apartment complexes.Here's what you can look forward to in this episode:Gino shares his unique journey from running a pizza restaurant to becoming a self-made millionaire through multifamily real estate investments. He provides valuable insights into the mindset shift required for seeing real estate not just as an investment, but as a scalable business.Mark and Gino discuss the current landscape of the multifamily real estate market, including the impacts of interest rates, the importance of geographic location, and the shift in housing demand.Gino introduces the three-step framework of buying, financing, and managing, explaining how each pillar contributes to the overall success of a multifamily investment.Gino emphasizes the importance of community and education in real estate investments, sharing how the Jake & Gino platform provides a supportive network and comprehensive resources for investors.The significance of due diligence, understanding the risks involved, and partnering with experienced individuals in multifamily real estate investments is also discussed. Learn more from Gino Barbaro at Jake & Gino: https://jakeandgino.com/ Grab my FREE Ultimate Tax Strategy Guide HERE! You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: 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!

The podcast discusses the intricacies of the Corporate Transparency Act and its consequences for small business owners. They cover the need for reporting to FinCEN, penalties for non-compliance, compliance advice, exemptions for large companies, and the importance of dissolving unused entities.