In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen take a deep dive into the six LLC structures every entrepreneur, investor, and licensed professional should understand. Whether you're starting a business, protecting rental properties, or building wealth with a high-net-worth strategy, this episode breaks down how to choose and use the right LLC to match your goals.

Here are some of the highlights:

• Mark and Mat discuss the six types of LLCs, starting with the most common type for rental properties.
• Mat explains the benefits of a single-member LLC for asset protection and the flow-through of taxes on personal returns.
•  The importance of setting up LLCs early for protection and the potential need for multiple LLCs for multiple properties.
• Mat breaks down the tax savings from avoiding self-employment taxes and the importance of taking a reasonable salary.
• Mark and Mat highlight the advanced planning and asset protection strategies associated with COPE LLCs.
• Mark and Mat introduce the series LLC, which allows for separate liability treatment for multiple properties.
• How separating different types of LLCs for asset protection and tax planning is crucial.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
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In this episode of the Main Street Business Podcast, Mark J. Kohler shows how simple board meetings and a strategic plan can supercharge your finances. He explains how to turn ordinary family gatherings into legitimate, tax-deductible business meetings that strengthen your entity structure. Get inspired to organize your goals, sharpen your decision-making, and create a family office that supports real wealth-building.

Here are some of the highlights:

• Mark explains the concept of a family office, emphasizing that it is not limited to billionaires but can be set up by anyone.
• The benefits of a family office include tax write-offs, better asset protection, and wealth building.
• Mark advises participants to legitimize their LLC or corporation by holding board meetings and documenting the minutes.
• The difference between boards of directors for corporations and boards of advisors for LLCs.
• Mark introduces his "trifecta" concept, which includes a revocable living trust, 1040 tax return, and various assets and operations.
• Encouragement to set up boards for all their entities, even if they only have one or two.
• Mark emphasizes the need to update the plan regularly and share it with tax and legal advisors.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
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In this episode of the Main Street Business Podcast, Mark J. Kohler and Max Merritt reveal how NIL athletes can turn short-term earnings into long-term wealth. From forming an LLC to electing S corp status and leveraging mega Roth strategies, they lay out the playbook every young athlete—and their advisors—should follow.

Here are some of the highlights:

• Mark emphasizes the similarities between athletes and entrepreneurs, highlighting the self-discipline required in both fields.
• Max notes that many college athletes become entrepreneurs, often owning their own businesses.
• The importance of treating NIL income as a business transaction, suggesting the formation of an LLC and potential S corporation election.
• Mark warns against signing NIL contracts in the athlete's name, suggesting the use of the LLC to protect the athlete's interests.
• Mark and Max explain the concept of the mega backdoor Roth IRA, allowing athletes to save up to $70,000 annually in a tax-advantaged account.
• The potential for athletes to save significant amounts in retirement accounts like the solo 401(k).
• Mark encourages athletes to seek professional advice from tax lawyers and financial advisors to make informed decisions about their income and investments

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
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In this video, I break down 3 strategies to help you navigate a market downturn:
1) The market always comes back – History shows us time and time again that corrections are normal and the market recovers. The key is staying invested.
2) Tax loss harvesting – This is a powerful tool to offset gains and reduce your tax bill. I’ll show you how to do it the right way.
3) Over-allocated in stocks? It might be time to diversify. If you're too heavy in the market, consider investing in alternative assets you actually understand.
Want to take control, invest in what you know?

Head over to DirectedIRA.com – where you can diversify your IRA and 401k into alternative assets like real estate, private companies, and more through a self-directed retirement account.

Need help with tax planning and legal strategies for your LLC or investments?
Go to KKOSlawyers.com to get expert planning that actually helps you build wealth.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 Chris Van Dusen to unpack the biggest mistakes business owners make when trying to sell—and how to avoid them. From cleaning up your books to understanding your true enterprise value, this is your roadmap to a smarter exit.

Here are some of the highlights:

• Mark and Chris explain the concept of enterprise value, differentiating it from lifestyle businesses.
• Chris emphasizes the importance of understanding the market and strategic fit for a business looking to sell.
• Mark and Chris discuss the significance of replacing oneself in a business to increase its value.
• Chris introduces the term EBITDA and its role in determining business profitability.
• Mark shares his experience with clients who decide to stay in their business after preparing it for sale.
• How multiple businesses can be combined to create a larger, more efficient entity.
• Discussion on the role of investment bankers in helping businesses prepare for sale.
• Chris advises being prepared for the emotional transition and having a plan for the next chapter.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
• Craving more content? Check out my Instagram!

In this episode of the Mainstreet Business podcast, host Mat Sorensen kicks off the LLC Masterclass series with the questions every entrepreneur, investor, and side hustler needs answered:

 Do you actually need an LLC?
 How do you set one up the right way?
 What about paying yourself?
 How many LLCs should you have?
 And which state should you form it in?

With over 20 years of experience and 10,000+ LLCs formed for clients across all 50 states, Mat breaks down the four main reasons why forming an LLC might be a smart move for your business or real estate investments. He covers asset protection, business legitimacy, partnerships and investors, and how to properly structure rental properties and estate planning.

Whether you're just starting your first business or growing a real estate portfolio, this episode will give you a solid foundation on how LLCs work—and why they matter.

✅ For tax and legal planning with your LLC, visit kkoslawyers.com
✅ For LLC compliance support, go to mainstreetbusiness.com

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
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In this episode of the Main Street Business Podcast, Mark J. Kohler welcomes real estate investor Hunter Thompson to uncover how to raise capital legally and effectively in today’s skeptical, high-interest market. From 506(c) strategies to scaling with the fund-of-funds model, this is a must-listen for serious investors.

Here are some of the highlights:

• Mark and Hunter underline the importance of having the right strategies and tactics to attract and retain investors in a competitive market.
• Hunter shares insights on the difficulties of raising capital, including the need for effective marketing and investor education.
• Mark Kohler and Hunter discuss the role of influencers and content creators in attracting and educating investors.
• The need for real estate investors to become more visible and active in the market to attract capital.
• Hunter explains the challenges of finding good deals in a competitive market and the importance of being prepared for market downturns.
• Mark lists the benefits of self-directed IRAs, including the ability to invest in real estate and the tax advantages.
• The challenges of navigating the regulatory landscape and the importance of staying compliant.
•  The importance of staying informed and connected in the real estate investment community.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 and Mat Sorensen show how a tax extension can reduce stress, cut audit risk, and buy you time for smart tax moves. Get the facts on key deadlines, solo 401(k)s, and what to do now if you’re behind.

Here are some of the highlights:

• Mark emphasizes that filing an extension gives time to prepare better, including looking for additional write-offs.
• Mat clarifies that the IRS is unlikely to shut down and that savvy individuals are extending their tax returns.
• How rushing tax returns often leads to missed deductions, which can be avoided by extending the deadline.
• Mark and Mat discuss the six-month extension available for personal returns, extending the deadline to October 15.
• Mat mentions the need to file an extension for business returns if they haven't been done by March 15.
• Filing an extension incurs no penalty and is a simple one-page form.
• The penalty for failure to pay, which is a half-percent per month, and the larger penalty for failure to file.
• How filing an extension can reduce the chances of an audit, as the IRS assigns audits based on the order of returns received.

Don't know how much you should pay when filing a tax extension? Find the answer here - https://markjkohler.com/how-much-should-i-send-in-with-my-extension/

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
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In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen dive into listener questions about tax and business planning. From maximizing deductions on rental properties to creative financing strategies for commercial real estate and smart ways to restructure an LLC, they address the biggest tax and business concerns entrepreneurs and investors face.

Here are some of the highlights:

• Mark explains the benefits of short-term rentals, including accelerated depreciation and cash flow.
• Mark & Mat provide a detailed explanation of how short-term rentals can be grouped under the 469-4 election and the importance of material participation.
• The importance of understanding the long-term play when dealing with short-term rentals.
• A breakdown of various creative solutions like subleasing and seller financing to mitigate the financial burden.
• The potential of seller financing and the benefits of carrying the paper for a premium.
• The possibility of condominium conversion as a unique solution to increase a property's value.
• Mark & Mat discuss the potential pitfalls of borrowing against equity and the importance of generating income to pay debt service.
• The importance of keeping assets that have great cash flow or appreciation and the potential for 1031 exchanges.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
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In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen give you the blueprint for bulletproof asset protection. From LLCs to trusts to holding companies, find out the smart, cost-effective strategies that work without the extra fluff.

Here are some of the highlights:

• Mark & Mat break down the biggest asset protection scams and how shady promoters convince people to buy unnecessary LLCs, trusts, and offshore entities.
• Mat discusses when you should separate your real estate properties into multiple LLCs vs. keeping them together in one—so you don’t overcomplicate things. 
• Mark reveals the truth about “anonymous LLCs” and how to use Wyoming holding companies for real privacy protection.
• How to build an asset protection plan that actually makes sense for your wealth level—so you don’t spend money on pointless legal structures.
• How to avoid setting up LLCs that end up costing you more in taxes than they save you in protection.
• Why your asset protection structure must match your tax return—or it could get torn apart in an audit or lawsuit.
• When you should separate your real estate properties into multiple LLCs vs. keeping them together in one—so you don’t overcomplicate things.
• How to legally minimize tax burdens while keeping your asset protection plan airtight.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
• Craving more content? Check out my Instagram!

BOI Reporting Fines Canceled for U.S. Citizens & Businesses! 

Big news for U.S. business owners! The Treasury Department has announced that U.S. citizens and domestic businesses will not face fines or penalties for failing to file Beneficial Ownership Information (BOI) reports after new deadlines are set.

Last week, FinCEN confirmed that updated BOI reporting deadlines will be announced no later than March 21. However, Treasury has now clarified that they will not enforce penalties or fines associated with the BOI!

This decision comes as part of the Corporate Transparency Act (CTA) and is being positioned as a win for reducing regulatory burdens on small businesses. Treasury Secretary Scott Bessent stated that this move aligns with President Trump's goal of fostering economic growth by cutting unnecessary red tape.

What does this mean for you?

No fines or penalties for U.S. businesses and beneficial owners.
A significant shift in compliance obligations under the CTA.
Stay tuned for more updates as the final rule changes are announced!

Need Help Setting Up An LLC? Please check out my law firm here: https://kkoslawyers.com/

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
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In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down tax-saving strategies for RV owners in 2025! Whether you're a weekend warrior or a full-time traveler, learn how to turn your RV into a business asset, claim deductions, and keep more money in your pocket. 

Here are some of the highlights:

• Mark and Mat provide statistics on RV ownership, noting that 13% of US households own a recreational vehicle and 43 million Americans regularly go RVing.
• Mat discusses the concept of full-time RVers and the opportunities for work campers in RV parks.
• Mark explains the financial benefits of not selling one's home but renting it out as an Airbnb to cover RV expenses.
• How full-time RVers cannot write off their RV as a home but can write off a portion if it is used as a home office.
• Part-time RV owners should determine how many days a year they will use the RV and consider its potential business use.
• Mark points out that if an RV is 100% available for rent, it can be written off as a business asset.
• Mat highlights the flexibility of using an RV for both personal and business purposes, making it a versatile asset.
• The possibility of writing off mileage for business use when moving the RV for work.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 sits down with music industry icon Wendy Starland to talk about the dark side of streaming services. Learn why & how artists are being shortchanged and how her new platform, Music Soul, is creating a fairer, brand-integrated ecosystem for musicians, fans, and businesses alike.

Here are some of the highlights:

• Mark J. Kohler underlines the distinction between creating art and running a business, introducing Wendy Starland as a guest who has helped many artists, including Lady Gaga, launch their careers.
• Wendy Starland talks about her topic at the World Economic Forum, focusing on the exploitation of musicians and the need to change the industry dynamics.
• Mark and Wendy discuss the misconception that artists make significant money from music streaming, with Wendy explaining that artists earn less than $45,000 for a billion streams.
• Wendy explains the challenges artists face, including the competition within record labels and the lack of financial support for many artists.
• The challenges of monetizing free music, with Wendy explaining how artists have had to adapt to the new streaming model.
• Wendy introduces Music Soul, a new music streaming platform and marketplace designed to support artists and brands.
• How the platform aims to create an ecosystem where artists retain 70% of streaming and advertising revenue, significantly higher than current streaming platforms.
• Music Soul will offer various features, including streaming music, buying merchandise, attending concerts, and engaging with brands and charities.

Learn more about Wendy Starland here! - https://www.wendystarland.com

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
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In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen explain FinCEN’s BOI requirement and what it means for LLCs and corporations. With compliance deadlines approaching fast, they provide expert guidance on how to file properly and avoid costly fines.

Here are some of the highlights:

• Mark and Mat discuss the recent developments, including the overturning of a previous injunction and the reinstatement of BOI enforcement by FinCEN.
• Mat provides the new deadline for filing the BOI in 2025.
• Mat details the information required for the BOI, including the name of the business, tax ID, EIN, and the names and home addresses of owners and those with substantial control.
• Importance of listing all owners, including those who own 25% or more and those with control through trusts or other entities.
• Context of the policy behind the BOI, aiming to prevent money laundering and other illegal activities by requiring transparency in business ownership.
• The process of filing the BOI through the FinCEN website or using their law firm's services, which can help simplify the process.
• Discussion on the exceptions to filing the BOI, including entities with more than 25 employees or $5 million in revenue.
• Mark and Mat strongly urge filing even if the entity has not been active, as non-use does not exempt the requirement.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 and Mat Sorensen answer your top tax and legal questions. From choosing the right tax advisor (without overpaying for empty credentials) to navigating HSAs, S corp taxation, and solo 401(k) limitations—this episode is packed with practical strategies to keep your business and investments in top shape. Plus, they break down how their Crypto IRA can help you leverage cryptocurrency in your retirement portfolio.

Here are some of the highlights:

• Mark discusses the importance of choosing a good tax advisor and the potential pitfalls of high fees without proper credentials.
• Mat clarifies the difference between an HSA account and an HSA-qualifying insurance plan, emphasizing that the account can be set up anywhere, including with Direct IRA.
• Mark and Mat cover the benefits of self-directing an HSA account, including the ability to invest in various assets like crypto, real estate, and private companies.
• Upcoming changes in 2025 regarding 1099-K forms for payment apps like Cash App and Venmo.
• A workaround involving picking up FICA wages on a Schedule C and ensuring proper documentation on the 1120-S form.
• The challenges of setting up an IRA LLC for buying crypto and recommends using the Crypto IRA product instead.
• The process of transferring funds from a retirement account to a Gemini account for buying and selling crypto.
• Mark and Mat encourage listeners to invest time in finding the right professional team for their business, including accountants and lawyers.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 explains how to successfully transition out of your business while maximizing value. From setting up a seamless family succession plan to making your business more appealing for a third-party sale, he shares practical steps to ensure a smooth and profitable exit. Tune in for expert strategies that will help you plan your next move with confidence!

Here are some of the highlights:

• Mark outlines four strategies that wealthy individuals use when exiting their businesses.
• Emphasizes the importance of deciding who will buy the business, whether it's family or a third party.
• The complexities of family succession, including the need for succession planning and business consultants.
• Introduction to the concept of systemization, developing people, and understanding EBITDA for third-party sales.
• Real-world examples of clients who initially wanted to sell but later decided against it due to the success of their systemized business.
• The potential for staying on with the new buyer for a transition period, which could increase the sale price.
• Mark urges caution when considering elaborate tax structures and emphasizes the need for second and third opinions.
• Mark warns against high-risk, high-cost tax strategies and the potential for IRS audit risks.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 shares the blueprint for tax-efficient business ownership. He explains why smart bookkeeping is key, how to leverage deductions, and when to transition from an LLC to an S corp for optimal tax savings. If you’re tired of overpaying the IRS, this episode is a must-listen!

Here are some of the highlights:

• Mark explains what you take out of your business is not what you are taxed on, using a scenario where a business owner makes $60,000 but is only taxed on $50,000 due to write-offs.
• The evolution of a small business from a sole proprietorship to an LLC, and then to an S corporation once the business starts making significant income.
• Mark discusses the concept of having two sets of books: one for tracking income and expenses through the business account, and another for adding other expenses that may not have gone through the main account.
• The concept of phantom income, where business owners reinvest money back into the business and are still taxed on that amount.
• Strategies for minimizing phantom income, such as taking a portion of the reinvested money and depositing it with the IRS to cover expected taxes.
• How most small businesses should avoid the C corporation structure and stick with pass-through entities like LLCs or S corporations.
• The importance of tracking every expense related to the business, as these expenses can be significant tax write-offs.
• Mark advises business owners to involve family members in the business to take advantage of write-offs for supporting family financially.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 uncovers the secret to saving big on taxes and strengthening your business—the family board meeting. Discover how to legally write off travel, meals, and payments to family members, while staying compliant and building financial security. Mark breaks down the process step by step, making it easy for any small business owner to implement.

Here are some of the highlights:

• Mark explains why every small business should hold a family board meeting and how it can unlock valuable tax deductions while enhancing business legitimacy.
• Discussion on how travel, dining, and other expenses related to board meetings can be legally written off, reducing taxable income.
• Mark covers the importance of maintaining proper documentation, such as meeting minutes and corporate records, to ensure compliance and asset protection.
• The process of selecting board members, including family and friends, to provide valuable advice while benefiting from tax write-offs.
• Explanation of how to structure family board meetings with clear agendas and actionable discussions to improve business planning.
• Mark outlines the tax benefits of compensating family members for their participation in board meetings and how it can serve as a wealth-building strategy.
• The significance of holding board meetings at least once a year to stay compliant, with suggestions on how to schedule additional meetings for greater tax advantages.
• How having a properly structured family board meeting can help business owners align their financial goals with their long-term vision and legacy planning.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 and Mat Sorensen share powerful insights on why converting your LLC to an S corporation is a game-changer for tax savings. They discuss the crucial tax advantages, the importance of structuring income properly, and walk you through the filing process. Find out how you could potentially save $7,000 or more with this strategic business move.

Here are some of the highlights:

• Mark emphasizes how LLCs do not save taxes and explains the process of turning an LLC into an S corp.
• Discussion on the difference in tax rates between LLCs and S corps, with S corps allowing for lower self-employment tax.
• Mat and Mark cover the importance of allocating income to FICA wages and the potential savings.
• Mark outlines the three-step process for making a late S corporation election, including filling out form 2553 and referencing revenue procedure 2013-30.
• Mark explains the workaround for the first year, including claiming compensation on both the 1120s and Schedule C.
• The benefits of the S corporation strategy for business owners and the potential annual savings.
• Need for proper health insurance premium write-offs and the overall benefits of the S corporation strategy.
• Why S Corps should avoid taking the Qualified Business Income (QBI) deduction when filing taxes.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 and Mat Sorensen explain how to create a comprehensive, actionable plan for the year ahead. They discuss the value of aligning your goals with a long-term vision and offer tips for making measurable progress while staying flexible enough to adapt as needed.

Here are some of the highlights:

• Mark and Mat emphasizes the importance of having a strategic plan that can lay the foundation for the next 10 years ahead.
• Mat discusses the need for setting realistic goals and breaking them down into manageable objectives.
• Mark explains and breaks down the concept of SMART goals: Specific, Measurable, Attainable, Relevant, and Time-bound.
• Real-world example of how to set objectives for increasing sales, including strategies like getting more leads and converting leads better.
• How to address personal issues that may be affecting business performance, such as health or family problems.
• Mat suggests involving the leadership team in the execution of the strategic plan to ensure buy-in and accountability.
• Mark advises writing down the strategic plan and carrying it around to review regularly.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
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In this episode of the Main Street Business Podcast, Mark J. Kohler tackles the top challenges facing accountants today, from the disconnect with business owners to the need to shift from compliance to advisory roles. Learn actionable strategies to elevate your practice and thrive in the evolving tax industry.

Here are some of the highlights:

• Mark begins by acknowledging the frustration of business owners and practitioners in the accounting industry.
• The disconnect between business owners and accountants, leading to frustration and apathy.
• Mark outlines the five major pain points for accountants: not charging enough, lack of practical strategies, inconsistent income, etc.
• The importance of charging fair rates and creating a relationship that values time and expertise.
• Issues of training new employees and the constant need for retraining due to high turnover.
• A break down of all the features and benefits of being a Main Street Certified Tax Advisor
• Encourages accountants to check out the program and take advantage of the resources available to them.
• Mark discusses the skepticism among accountants about the feasibility of advisory services.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 and Josh Jalinski discuss the key elements of successful financial planning for business owners. From annual life insurance reviews to emergency funds and disability insurance, they share practical steps to avoid costly mistakes and achieve lasting financial stability.

Here are some of the highlights:

• Mark Kohler welcomes Josh Jalinski, financial advisor, RIA owner, and host of the Financial Quarterback podcast.
• Mark begins by emphasizing the importance of building wealth and the need for a reliable quarterback for business owners.
• Josh discusses the significance of life insurance and the ability to generate income as the best investment.
• Mark Kohler and Josh cover the value of being busy in December and the challenges of managing client expectations during this period.
• Having a reliable tax and financial advisor who is actively planning and not just preparing taxes is worth its weight in gold.
• Financial advisors need to be proactive and not take extended breaks during the busiest time of the year.
• Josh shares real-world stories of clients who built significant wealth by investing a portion of their income and diversifying their assets.
• Annual reviews of life insurance policies are necessary to ensure they are still effective and meet the client's needs.
• The benefits of cash value life insurance and the importance of having a permanent policy.

To Learn more about Josh Jalinski, check out his Jalinski Advisory Group - https://jalinski.com/

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
• Craving more content? Check out my Instagram!

BOIs on Hold Again - 5th Circuit Reverses Itself on 12/27/24. A big win for small businesses in this court saga. Going live to get into what this means for you! This case has been moving fast so if you haven't filed your BOIs for your LLCs or corporations make sure your subscribed and catching the latest updates to stay in compliance. If you need help completing your BOI report (and are done with the Court theatrics) my company Main Street Business Services can help you! Find them at https://www.mainstreetbusiness.com/contact 

Subscribe to my Youtube Channel to keep up with BOI updates! https://www.youtube.com/@MatSorensen

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• 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 dives into the financial benefits of transitioning to an S corp. He highlights the importance of splitting income into payroll and draws, shares his foolproof 50/50 strategy, and explains why it’s a safe and effective approach. With practical advice on avoiding IRS scrutiny and optimizing your business structure, this episode is a must-listen for entrepreneurs and small business owners.

Here are some of the highlights:

• Mark introduces the topic of transitioning from an LLC to an S corp, emphasizing the importance of how one pays themselves.
• Mark splits life into operations and assets, explaining that operations could include a day job or a side hustle, while assets could include rental properties, brokerage accounts, and retirement accounts.
• Emphasizes the importance of treating the S corp as a real business, including having a bank account, tax ID number, corporate book, and annual board meetings.
• Explanation of the drawbacks of paying self-employment tax on an LLC, which is 15.3% on all profits.
• The importance of properly allocating draws on paper and issuing a W-2 report to achieve tax savings.
• How an LLC pays self-employment tax and state tax, while an S corp allows for splitting income into payroll and K-1 distributions to reduce tax liability.
• Implementing a payroll matrix to help business owners determine the appropriate payroll percentage based on their profit.
• The cost of converting to an S corp is justified by the significant tax savings achieved.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
• Craving more content? Check out my Instagram!

The department of justice has filed an emergency appeal to reverse the recent court ruling on the FinCEN Beneficial Ownership Information (BOI) requirement. In this episode, Mat breaks down what this appeal means for small business owners, the potential implications for compliance, and what steps you should consider taking in the meantime.  

If you’re a small business owner wondering whether you need to file a BOI or how this ruling impacts your LLC or corporation, this is a must-watch (or listen). Stay informed and ahead of the curve as this legal battle unfolds.  

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
• Craving more content? Check out my Instagram!