Episodes
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In this episode of the Main Street Business Podcast, host Mark J Kohler welcomes Main Street influencer, Max Merritt, to unpack how student athletes can manage NIL income by forming an LLC. Together, they break down the key strategies and tax advantages available for NIL athletes into four easy sections.
Here's what you can look forward to:
Mark and Max highlight the importance of structuring yourself as a business entity, such as an LLC, for tax planning purposes.They emphasize the need for professional advice when setting up the business entity to ensure proper tax strategies are in place.Mark and Max discuss the two types of income NIL athletes may receive.The significance of understanding state tax implications and strategizing residency for tax purposes.How to utilize an LLC as a powerful tool for tax planning and incorporating family members for additional write-offs.Reporting income to the IRS using Schedule C or E and the importance of maximizing write-offsHow to be patient yet proactive in setting up the business correctly and continuing education on entrepreneurship. 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 welcomes Rick Jordan, founder of ReachOut Technology, to discuss the ins and outs of cybersecurity and how small businesses can shield themselves from cyber threats.
Here's what you can look forward to in this episode:
Rick shares the background and milestones of his cybersecurity journey.He highlights the importance of staying on the cutting edge of cybersecurity for enrolled agents.Rick gives an in-depth look at automated tools and procedures used to detect and respond to cyber threatsHe provides the key strategies behind designing networks and staying ahead of cyber threats.Mark and Rick touch on the potential risks associated with sharing sensitive information.Rick gives Mark an overview of the services provided by Reach Out Technology to small business owners.Learn more from Rick Jordan: https://www.rickjordan.tv/
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! -
Missing episodes?
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In this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen provide insights and tips specifically geared towards those with a side hustle. They dive into a wide range of topics, from tax planning strategies to the importance of claiming all income.
Detailed advice on preparing your tax return, particularly when dealing with a 1099 for the first time.The importance of claiming all income, whether it comes with a 1099 or not, to avoid potential issues with the IRS.Tips on maximizing your tax write-offs, including creative suggestions like home office, auto expenses, dining, and travel.Discussion on the role of entities like LLCs and S corporations in tax savings, and when it might be beneficial to consider them for your side hustle.Insight into forward-thinking strategies such as making contributions to solo 401(k) and Health Savings Account (HSA) to reduce your tax burden.
Here's what you can look forward to:This episode is a must-listen for anyone looking to optimize their side hustle and navigate their tax obligations effectively.
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 welcome renowned entrepreneur and industry leader, Joe De Sena.
Together, they unpack Joe’s journey to building Spartan, a powerhouse endurance sports brand, and how business owners can overcome obstacles in order to achieve the same level of success.Here's what you can look forward to in this episode:
Joe shares the origin story of the Spartan race concept and its evolution over time.Joe discusses the impact of participating in Spartan races for individuals and business teams.He underlines the importance of prioritization, commitment, and discipline in achieving goals.Joe explains how to face challenges head-on and applies lessons learned from Spartan races to business obstacles.He emphasizes using Spartan core values for business growth and development, fostering honesty, discipline, and accountability.Compares ancient business principles to modern-day entrepreneurial values and commitments. 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 delve into a variety of tax topics, offering their valuable insights and addressing your burning questions. Follow along as they cover everything from key tax savings strategies to estate planning, property management, and more.
Here's what you can look forward to:
Advice on balancing personal and business expenses for tax write-offs.Emphasis on estate planning for smooth asset transition, avoiding probate, and clarifying wishes.Thoughts on the suitability of professional employment organizations for small businesses and complexities of solo 401(k) ownership within S Corporations.In-depth look at investment tips and the importance of relationship building. Simplified strategies for farming operations and tax planning. 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 reveal 10 crypto strategies the rich are using to save taxes and continue building their wealth. Together, they offer a peek behind the curtain and key insights into the strategies that everyone should be taking advantage of.
Here's what you can look forward to:
A detailed breakdown of each of the top 10 crypto loopholes that the rich are using to elevate their wealth.Key strategies implemented with clients who have invested over a hundred million dollars.How to integrate charitable planning into these strategies.The importance of seeking professional advice from tax lawyers.The significance of using Roth IRAs as a strategy.Tune in to this episode for expert insights on how these key crypto strategies work and how you should be using them to grow your crypto portfolio and keep more money in your pocket.
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 welcomes author, actress, influencer, and acclaimed Queen of the Pitch, Forbes Riley to discuss her amazing journey and reveal some of her secrets to making the perfect pitch.
Here are some of the highlights from this episode:
Mark and Forbes dive into how her personal experiences in entertainment shaped her communication style.Forbes discusses her lasting impact on small business owners and the importance of verbal communication in the workplace.She shares her insight into creating instant connections through mastering the art of the pitch.Forbes emphasizes asking the right questions to get the desired responses and demonstrates the power of an impactful pitch.Significance of knowing what you do and how to communicate it effectively.Seizing opportunities by presenting oneself confidently and concisely.Learn more from Forbes Riley at Forbes Riley Media https://www.forbesrileymedia.com/optin24842600
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 Mat Sorensen guide small business owners through the journey of building wealth. They delve into the unique characteristics of investing as a business owner and lay out a multi-phase roadmap for financial success.
A comprehensive look at the financial challenges and opportunities specific to small business owners.Practical advice on managing debt, building cash reserves, and optimizing your business for financial growth.In-depth discussion on the role of Roth IRAs, Solo 401Ks, and real estate investments in wealth building.Insightful exploration of alternative investments and the strategic use of life insurance in financial planning.Guidance on preparing for retirement, including strategies for Roth conversions and managing Social Security benefits.
Here's what you can expect:Whether you're just starting your business or looking to take it to the next level, this episode offers a wealth of knowledge to help you navigate your financial journey. Tune in to gain practical tips and strategies to build wealth, protect your assets, and achieve financial freedom as a small business owner.
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 and breaks down the best ways to tackle Capital Gains tax. He maps out ten helpful strategies that can give you the edge you need to offset Capital Gains and save thousands of dollars.
Here's what you can expect:
An in-depth view of ten powerful strategies aimed at navigating capital gains tax, typically kept behind a paywall, now accessible for all.Valuable insights usually reserved for the wealthy elite.A clearer perspective of CRT, 1031 Exchange, Opportunity Zones, Installment Sales, and more, to help you take on capital gains tax with confidence.Secrets to managing professionals effectively for optimal results and substantial savings.More practical applications that can be used to mitigate capital gains tax burdens effectively.A better understanding of how these strategies can benefit small and large businesses, as well as individuals.If you’ve been looking for a compass to help you navigate the complex Capital Gains landscape, this is one episode you don’t want to miss. Whether you’re managing a small business, big business, or just yourself, these strategies give you the tools you need for achieving the best results.
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 share their insights on building a passive income empire. They lay out a three-step formula, backed by their years of experience as tax attorneys, to help you achieve financial freedom.
Here's what you can expect:
A discussion on the importance of having a side hustle or small business, emphasizing its role as a revenue-generating asset that can fuel your future investments.Practical advice on investing in real estate, offering a range of options from single-family homes to commercial properties, and emphasizing its role as a wealth-building asset in America.An explanation of the role of retirement accounts in wealth accumulation. They debunk misconceptions around retirement accounts and highlight the benefits of self-directing your investments.Real-life examples of how clients have used these strategies to build wealth and secure a comfortable retirement.A valuable perspective on the commitment and discipline required in wealth building, encouraging listeners to view wealth as a decision rather than a destiny.Whether you're starting your journey towards financial independence or looking for ways to optimize your current strategy, this episode is packed with valuable insights and practical advice. Tune in to learn how to structure and methodize your investments for optimal growth and a worry-free retirement.
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 welcomes Dolf De Roos, a globally recognized real estate investor and best-selling author. They delve into the intricacies of real estate investing and the potential it holds for significant returns.
Here's what you can look forward to in this episode:
Dolf shares his journey from being a PhD holder to becoming a real estate investor, mentor, and author of 11 best-selling property books.He provides valuable insights into how creativity and a mindset shift can drastically increase returns in real estate investments.Mark and Dolf discuss the current landscape of real estate investing, including the impacts of leverage, hidden value, personal value addition, and the ability to strip out equity.Dolf introduces his unique approach to real estate investing, emphasizing the importance of understanding market dynamics and being able to spot underpriced properties.He underscores the importance of persistence and knowledge in real estate investing, sharing how his experiences have shaped his strategies.The significance of resilience, a keen eye for opportunities, and maintaining a clear vision amidst challenges in the real estate investment journey are also discussed.Don't miss Dolf De Roos' one time live event "The Right Real Estate Deals to Generate Passive Income" - https://www.dolfderoos.com/training-web-a
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 provide a guide to securing a sound retirement plan. They engage in a highly informative conversation, offering step-by-step strategies to help you reach your financial goals.
An analysis of how much you should be saving based on your current age, with a clear goal of attaining a $2 million retirement fund.Insightful advice on how to effectively manage your savings and investments, with a clear explanation of the 4% rule and the 6% rule.Practical suggestions on the ideal structures for your savings, emphasizing the benefits of Individual Retirement Accounts (IRAs) and Roth accounts.An introduction to the concept of 'self-directing', where you get to invest in what you know best, unlocking greater returns.A clear exposition of the 'Rule of 72', an equation that tells you how long it takes for your money to double.A discussion on the importance of starting early when it comes to saving and investing, emphasizing the power of compounding interest.
Here's what you can look forward to:This episode is a must-listen for anyone seeking to secure a robust retirement plan. It offers a wealth of knowledge on everything from saving strategies, investment structures, and understanding rates of return. Tune in and take a step closer to achieving a retirement you can truly look forward to.
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 welcomes Mike "C-Roc" Ciorrocco, the man behind the 'What are you made of?' movement and the CEO of People Building, Inc. The duo dive into the concept of brand building to grow a business.
Here's what you can look forward to in this episode:
Mike shares his journey from the mortgage industry to becoming a renowned performance coach, public speaker, and author, focusing on personal branding and business growth.He provides valuable insights into the mindset shift needed to see oneself not just as a professional in a field, but as a unique brand with a valuable message to share.Mark and Mike discuss the current landscape of personal branding and marketing, including the impacts of consistency, authenticity, and networking.Mike introduces his unique approach to building a brand, emphasizing the importance of aligning one's thoughts, words, actions, and environment with their mission.He underscores the importance of networking and community in building a brand, sharing how his agency provides a supportive network and comprehensive resources for clients.The significance of resilience, mental toughness, and maintaining a clear vision amidst challenges in the entrepreneurial journey is also discussed.Book a FREE discovery call with Mike's Podcast Networking Agency - https://that1agency.com/
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 Mat Sorensen and Mark J Kohler delve into managing personal finances and small businesses in an uncertain economic climate. Their lively conversation is packed with insightful advice and practical strategies.
Here's what you can look forward to:
A detailed discussion on the importance of having a clear financial plan, regardless of the economic climate or election year.Valuable insights on managing personal debt strategically and the necessity of tracking income and expenses.Practical advice on diversifying income sources and the importance of continually enhancing skills and knowledge.An in-depth exploration of pricing strategies and product diversification in small businesses.A thoughtful dialogue on the need to cut low-margin activities and unnecessary costs for better financial stability.An engaging narrative on the Phoenix Open waste management issue, which serves as a real-life example of the importance of having a plan to weather unexpected situations.This episode is a must-listen for anyone who wants to navigate their personal finances or small businesses more effectively in unstable economic times. It offers a wealth of knowledge on everything from debt management and budgeting to pricing strategies and cost-cutting measures.
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 delve deep into the challenges and opportunities of running a farming operation. They provide their expert insights on eight distinct, yet interconnected, farming strategies that can help both budding and seasoned farmers.
A detailed examination of the S Corporation strategy, highlighting how it can enhance tax efficiency and profitability in farming operations.An exploration of asset protection strategies, focusing on the balance between operations and assets, and the importance of maintaining a proper business structure.In-depth advice on how to navigate the tricky situation of a C Corporation, offering practical steps to transition to a more efficient structure.A discussion on the common pitfall of overbuying equipment that farmers often fall into, with tips on how to make smarter investment decisions.Insights into the challenge of being "land rich and cash poor," emphasizing the importance of diversifying investments and ensuring cash flow security.Guidance on maintaining your entities and having a board of directors or board of advisors within your family to oversee the business.An overview of estate planning related to farm transition, stressing the need for a clear and comprehensive plan.Advice on farm succession planning and the importance of training the next generation and planning for the future of the farm.
Here's what you can look forward to:This episode is a must-listen for anyone involved in the farming industry, interested in asset protection, tax-saving strategies, and those planning for the future of their farming business.
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 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.
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 discuss various topics related to business, taxes, and legal structures. They answer questions from listeners about tax benefits for small businesses, the benefits of S corporations, and strategies for real estate investing.
Here's what you can look forward to:
A detailed explanation of how an EV vehicle can be written off, even if you receive the EV credit for the vehicle.An insight into the process of converting a professional limited liability company (PLLC) to an S corporation and how this can help save on self-employment tax.A discussion on the implications of having multiple businesses owned by an S corporation holding company.Advice on using an LLC to protect assets, with a particular focus on holding liquid assets.Tips on managing business expenses for meals and how these can be claimed as business deductions.The episode concludes with guidance on how to diversify investments into real estate, specifically short-term rentals in different states.This episode is a must-listen for small business owners, side hustlers, and anyone interested in understanding the complexities of tax law, the potential benefits of different legal structures, and strategies for protecting assets and diversifying 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, hosts Mark J Kohler and Mat Sorensen unpack the defamation case between Grant Cardone and John Legere. They delve into the implications of this case, exploring how it affects the way we communicate online and protect our reputation.
Here's what you can anticipate:
A breakdown of the case, highlighting the key statements made by John Legere that Grant Cardone claims are defamatory.Unpacking what defamation is, emphasizing the importance of accurate statements when speaking negatively about someone, especially online.An insight into the legal process of discovery, illustrating how evidence is gathered and presented in court.Discussion on the elements of fraud and how difficult it is to prove these elements in a legal setting.Tips on how to defend yourself in a defamation case, including the potential financial costs as well as the implications of going through the discovery process.The episode ends with a deep dive into the importance of standing up for yourself and defending your reputation, using the actions of Grant Cardone as an example.This episode is a must-listen for anyone interested in understanding the complexities of defamation law, the potential legal implications of online communication, and the importance of protecting your reputation in the digital age.
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 delve into 3 potential legal liabilities for individuals and small business owners. They offer valuable insights into the process of reducing liability through effective planning and documentation.
Here's what you can anticipate:
A discussion on the three most common ways you might get sued in America: incidents at your home, personal injury claims, and contract disputes.An examination of real-life celebrity lawsuits involving Demi Moore, Gwyneth Paltrow, and Flo Rida, illustrating the potential legal pitfalls in different scenarios.Tips on how to reduce your liability, such as maintaining a secure perimeter around your property, having a waiver in place, and ensuring proper supervision during events or gatherings.Advice on how to document and gather evidence in the event of an accident or dispute, including taking pictures, videos, identifying witnesses, and keeping receipts of any related expenses.A comprehensive overview of having written agreements in place, particularly in business or investment arrangements, to prevent potential legal issues.The episode ends with a discussion on how to navigate a breach of contract scenario, emphasizing the importance of having contracts in writing and understanding the terms thoroughly.This episode is a must-listen for anyone operating a small business or engaging in any form of agreement, seeking expert advice on avoiding lawsuits, and looking to maximize their protection against potential legal issues.
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 provide an in-depth discussion on the importance of effective tax planning for individuals with a side hustle or small business. They offer valuable insights into the process of reducing tax liabilities by taking legitimate expenses offered by the IRS.
Here's what you can look forward to:
How to effectively reduce the income from a 1099 by deducting legitimate expenses.Debunking misconceptions about 'under the table' income, stressing that all income, regardless of how it's received, should be reported to prevent legal issues.Explanation of how to report income from a 1099 using Schedule C, and the importance of understanding your entity structuring.Detailed discussion on various write-offs like home office, auto, dining, travel, equipment, and supplies, and how to track and gather data for these expenses.Insights into other non-cash expenses that could be deducted, like hiring your kids in your business, and how this strategy can help reduce your taxable income.Overview of the next steps after reducing taxable income, which includes building tax-free or tax-deferred wealth through retirement accounts.This episode is a must-listen for anyone operating a side hustle or small business, seeking expert advice on tax planning, and looking to maximize their deductions and overall tax savings.
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! - Show more
