Main Street Business

In this episode of the Main Street Business podcast, host Mark J Kohler welcomes special guest Rich Fettke, co-founder of Real Wealth - an organization that educates and helps individuals with their real estate investments. They discuss Rich's journey from being diagnosed with melanoma skin cancer to becoming a successful real estate investor and coach. Here are some of the topics they cover:The importance of passive income and how it can ensure financial security during unexpected life events.A unique 'holistic' approach of Real Wealth to wealth building which integrates living life on your own terms with making money.Insights on the potential of small multi-family properties like duplexes as a strategic investment move.How market research and vetting processes are crucial in identifying emerging markets for real estate investments.Exploring the concept of a self-managing business, empowering team members to run the business, and freeing up time for personal growth and pursuits.Real Wealth's innovative model of having property teams across the country, ensuring the quality of properties, and understanding localized real estate trends.Providing advice for potential investors to take action, start small, and consistently grow their real estate portfolio over time.Importance of making sound investment decisions and not just chasing tax benefits.The real estate market by debunking fear-mongering headlines and focusing on actual data and trends.For more opportunities to learn from Rich Fettke, follow the link below to his website and stay connected: https://realwealth.com/ 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!

In this episode of the Main Street Business podcast, hosts Mark J Kohler and Mat Sorensen highlight the significance of healthcare open enrollment for solopreneurs and business owners. They delve into a range of strategies and tips to help manage healthcare expenses and optimize benefits. Here are some of the key points they discussed:Insights into different healthcare facets and angles, such as the Health Reimbursement Arrangement (HRA), the Qualified Small Employer Health Reimbursement Arrangement (QSEHRA), and the Individual Coverage Health Reimbursement Arrangement (ICHRA).Benefits of using the Health Savings Account (HSA) strategy for those who are generally healthy, including its tax advantages and potential for future growth.The role of insurance agents, bankers, and lawyers in providing guidance on healthcare plans, emphasizing the need for individuals to educate themselves on their options.The concept of 'network' in healthcare plans, highlighting how the choice of network can impact the cost and coverage of your healthcare.The need for employers to consider healthcare benefits as a tool for retaining and attracting quality employees. 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!

In this episode of the Main Street Business podcast, hosts Mark J Kohler and Mat Sorensen provide a comprehensive guide on how to deal with the Internal Revenue Service (IRS) when you owe them money!Understanding the importance of communicating with the IRS and making a plan to address tax debt.Resolving tax debt options, such as short-term and long-term payment arrangements.The process and potential benefits of negotiating a deal with the IRS through an Offer and Compromise.Examining the implications and potential consequences of ignoring IRS communication about owed taxes.Analyzing the potential of bankruptcy as a last resort option for resolving overwhelming IRS debt.Highlighting the necessity of seeking professional help for tax resolution and avoiding costly mistakes. 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!

In this episode of the Main Street Business podcast, hosts Mark J Kohler and Mat Sorensen take questions submitted by listeners! If you want to submit a question for our once-a-month open forum show, visit: https://podcast.mainstreetbusiness.com/submit-a-question/For more game-changing financial strategies, be sure to like and subscribe to the podcast, and sign up for our weekly newsletter to get more FREE education every week: https://markjkohler.com/contact-us/ 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!

In this episode of the Main Street Business podcast, hosts Mark J Kohler and Mat Sorensen delve deep into the tax benefits available through short-term rental properties. They explain how real estate professionals can offset their losses on rentals against their other income sources, thus introducing the concept of a short-term rental loophole. Understanding the potential tax benefits of utilizing tax write-offs and loopholes.Exploring the concept of cost segregation and its potential for significant write-offs.Examining the criteria for material participation in real estate investments and its impact on tax deductions.Leveraging cost segregation and depreciation to optimize tax benefits in the short term.Balancing the pursuit of tax deductions with the importance of making sound investment decisions.Incorporating various tax strategies such as S Corps, LLCs, and self-directed retirement accounts.Cautioning against making poor investment choices solely to chase tax losses.Maximizing the tax benefits of short-term rentals through proper structuring and reporting. 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!

In this episode of the Main Street Business podcast, co-host Mat Sorensen, along with special guest Ashley Burr, discuss the complexities of setting up and managing business entities. They highlight the five common mistakes people make when setting up an entity, such as forming entities in the wrong state and having the incorrect tax classification. Furthermore, they provide strategies on how to fix these errors, emphasizing the importance of asset protection and tax savings. They also underscore the need to have the right business structure for operations and the potential benefits of restructuring an existing entity.Covering the five common mistakes made when setting up business entities.Highlighting the importance of forming entities in the correct state for optimal tax benefits and legal compliance.Explaining the drawbacks of setting up a C corporation and the benefits of opting for an S corporation or an LLC.The significance of correct tax classification for maximizing tax savings.Emphasizing the need to separate operations from assets for effective asset protection.The benefits of using S corporations for partnerships and how to structure them correctly.Highlighting the need to set up an entity if you own rental properties or run an operational business for asset protection and potential tax savings.Explaining the potential benefits and steps involved in restructuring an existing entity to fix past mistakes and optimize for future operations.For more game-changing financial strategies, be sure to like and subscribe to the podcast, and sign up for our weekly newsletter to get more FREE education every week: https://markjkohler.com/contact-us/ 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!

In this episode of the Main Street Business podcast, host Mark J Kohler, along with guest Deven Munns, delve into the complexities of establishing and operating a nonprofit organization. They stress the importance of identifying your purpose, assembling the right team, and meticulous planning. Furthermore, they shed light on the intricacies of fundraising, the necessity to have a precise structure, and budget considerations. They also share their personal experiences and valuable insights into running a successful nonprofit organization.Importance of a comprehensive plan for starting a nonprofit organizationSteps to set up a nonprofit, including filing articles of incorporation and deciding on a URL/brandDifferences between private foundation and public charity and the corresponding IRS forms to fileUnderstanding the better tax write-offs available for public charities and the four tiers of write-offsThe complexities of filing the long Form 1023 with the IRS to register a nonprofitThe role of a board of directors and strategic partners in planning and fundraising for a nonprofitDelegating fundraising avenues to different board members for a comprehensive approachAddressing legal and tax considerations such as unrelated business income tax (UBIT) and the need for separate organizations for certain activitiesFor more game-changing financial strategies, be sure to like and subscribe to the podcast, and sign up for our weekly newsletter to get more FREE education every week: https://markjkohler.com/contact-us/ 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!

In this enlightening episode of the Main Street Business podcast, hosts Mark J Kohler and Mat Sorensen explore strategies for recession-proofing small businesses. They discuss the importance of financial reviews, debt management, and identifying new revenue sources, among other things.The emotional and intellectual challenges of recession-proofing a business.Predicting business reshuffling in a recession and the survival of the fittest theory.The significance of serving clients effectively during tough times.The potential of buying out struggling competitors to grow market share.The importance of conducting a thorough financial review and creating a comprehensive balance sheet and income statement.Need for a comprehensive legal review, including examining business structures, leases, and relationships with partners, suppliers, and clients.The critical role of managing debt, particularly high-interest debts like credit cards.Necessity of increasing efficiency and reassessing pricing and possibly offering more value to customers without changing prices.Significance of maintaining at least three months of cash reserves, selling unnecessary items, and getting lean to weather potential financial storms.The potential of identifying new revenue sources, particularly low-hanging fruit, to contribute to business growth.For more game-changing financial strategies, be sure to like and subscribe to the podcast, and sign up for our weekly newsletter to get more FREE education every week: https://markjkohler.com/contact-us/ 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!

In this powerful episode of the Main Street Business podcast, host Mark J Kohler sits down with former Coach Micheal Burt, to discuss how he went from dominating as a basketball coach to crushing his competition in business. For more game-changing financial strategies, be sure to like and subscribe to the podcast, and sign up for our weekly newsletter to get more FREE education every week: https://markjkohler.com/contact-us/For more opportunities to learn from Coach Micheal Burt, follow the link below to his website and stay connected: https://coachburt.com/ 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!

In this episode of the Main Street Business podcast, hosts Mark J Kohler and Mat Sorensen shed light on a pressing issue that many Americans face: the staggering $1 trillion credit card debt.Delving into the nuances of financial disparities, they discuss how the rich are gaining steam with their savings, while the poor might be sinking deeper into debt.They also challenge Dave Ramsey's advice of cutting up credit cards, emphasizing its potential impact on credit health and business expansion. However, it's not all gloom and doom. Kohler and Sorensen also discuss the allure of credit card perks and how they are strategically employed by companies...Join us on the Main Street Business Podcast as we uncover the realities of credit and pave a path toward a brighter financial future.For more game-changing financial strategies, be sure to like and subscribe to the podcast, and sign up for our weekly newsletter to get more FREE education every week: https://markjkohler.com/contact-us/Get your FREE Debt Snowball Spreadsheet Here: https://www.markjkohler.com/debt-snowball/ 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!