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    Business

    Main Street Business

    The Main Street Business Podcast, hosted by attorneys Mat Sorensen and Mark J. Kohler, is the go-to resource for entrepreneurs, investors, and business owners who want to build, protect, and manage their wealth. Each episode explores real-world scenarios and offers practical advice on business structuring, tax planning, side hustles, real estate, self-directed retirement accounts, and more.

    With decades of combined legal and tax experience Mark and Mat make complex financial topics understandable through charismatic discussions and practical education. Their goal is to empower listeners to make smarter legal and financial decisions by turning advanced concepts into clear, actionable strategies for LLCs, corporations, estate planning, tax reduction, raising capital, asset protection, and retirement planning. 

    Mark J. Kohler is a CPA, attorney, best-selling author of six books, and a nationally recognized authority on small business tax and legal strategies. Mark serves as a Senior Partner at KKOS Lawyers and Board Member at Directed IRA Trust Company, which manages over $3 billion in assets. As the founder of the Main Street Certified Tax Advisor Program, Mark has trained thousands of CPAs and Enrolled Agents nationwide, helping millions of small business owners better navigate tax and legal strategies. Mark also co-hosts The Main Street Business Podcast along with Mat Sorensen.

    Mat Sorensen is an attorney, best-selling author of The Self-Directed IRA Handbook, and CEO of Directed IRA & Directed Trust Company, a leading self-directed IRA custodian with nearly $3 billion under administration. He is a national expert on self-directed retirement strategies and a Senior Partner at KKOS Lawyers. Mat also co-hosts The Main Street Business Podcast along with Mark J. Kohler. 

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    Copyright: © 2024 Main Street Business

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    Latest Episodes:
    #510 Listen to this Before Putting Your Spouse on Payroll Jul 02, 2024
    Show notes

    In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen unpack the advantages and disadvantages of putting your spouse on the payroll. They shed light on potential pitfalls, discuss savvy alternatives such as board roles and Roth IRAs, and highlight the benefits of Solo 401k contributions and HRAs.

    Here's what you can look forward to:

    • Mark and Mat break down the common misconceptions about paying spouses.
    • Additional payroll costs including FICA, Medicare, and unemployment taxes.
    • The benefits of using board of directors/advisors roles for spouses.
    • Outline of the advantages, including solo 401k contributions for spouses and maximizing retirement savings through payroll.
    • Scenarios where spouses must be on payroll due to material participation.
    • Ensuring compliance with tax laws and regulations.

    Ready to Take the Next Step?

    Work With Mat & Mark’s Law Firm
    Get strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.
    [Book a Call with KKOS Lawyers]

    Take Control of Your Retirement
    Want to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.
    [Learn More About Directed IRA]

    Free Resources

    Mat Sorensen’s Optimal Order of Investing Guide
    Learn how to prioritize where your money should go and build a smarter investing strategy.
    [Download the Free Guide]

    Mark J. Kohler’s 30-Point Tax Guide
    Discover practical tax strategies and planning opportunities every business owner and investor should know.
    [Download the Free Guide]

    Get More From Mat & Mark

    Watch on YouTube
    Tax strategies, business planning, investing, asset protection, and more.
    [Visit the YouTube Channel...


    #509 Build A Passive Income Empire With Rental Properties (Here's How) Jun 25, 2024
    Show notes

    In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen unpack the secrets of building long-term wealth through rental real estate. Join them as they delve into real estate deal analysis, key performance indicators, cash flow, ROI, and other valuable insights.

    Here are some of the highlights:

    • Mark and Mat provide real-world examples taken from experience with 20,000 consults and various client scenarios.
    • Mark and Mat discuss the importance of adding assets for small business owners and W-2 employees.
    • How to properly analyze and determine which rental property to buy
    • Reminder to consider other investment opportunities besides real estate.
    • Significance of understanding the 'why' behind buying a rental.
    • Overall ROI includes strategic advantage, cash flow, and appreciation.
    • Different appreciation rates for residential vs. commercial properties.

    Ready to Take the Next Step?

    Work With Mat & Mark’s Law Firm
    Get strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.
    [Book a Call with KKOS Lawyers]

    Take Control of Your Retirement
    Want to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.
    [Learn More About Directed IRA]

    Free Resources

    Mat Sorensen’s Optimal Order of Investing Guide
    Learn how to prioritize where your money should go and build a smarter investing strategy.
    [Download the Free Guide]

    Mark J. Kohler’s 30-Point Tax Guide
    Discover practical tax strategies and planning opportunities every business owner and investor should know.
    [Download the Free Guide]

    Get More From Mat & Mark

    Watch on YouTube
    Tax strategies, business planning, investing, asset protection, and more.
    [Visit the YouTube Channel...


    #508 Accountant Q&A: Tax Advice The IRS Wants You Ignore Jun 17, 2024
    Show notes

    Join hosts Mark J. Kohler and Mat Sorensen on the Main Street Business Podcast as they delve into the topics that matter most to you. From strategies to minimize estate taxes to the complexities of cryptocurrency and S-Corp ownership, there’s no stone left unturned. Plus, get the inside scoop on the Main Street Tax Pro Certification and its many benefits.

    Here are some of the highlights:

    • Mark and Mat begin with an in-depth discussion on reducing tax on large inheritance from overseas investments.
    • Process of changing ownership of an S Corp and its tax implications.
    • Explanation of the backdoor Roth IRA process and common mistakes.
    • Importance of specifying access mechanisms for off-exchange crypto assets.
    • Mark and Mat unpack the various benefits of the Main Street Tax Pro Certification for strategic tax planning.
    • Impact of cost segregation studies on active income and real estate professional status.
    • Ways to reduce capital gains tax on the sale of a home.

    Ready to Take the Next Step?

    Work With Mat & Mark’s Law Firm
    Get strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.
    [Book a Call with KKOS Lawyers]

    Take Control of Your Retirement
    Want to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.
    [Learn More About Directed IRA]

    Free Resources

    Mat Sorensen’s Optimal Order of Investing Guide
    Learn how to prioritize where your money should go and build a smarter investing strategy.
    [Download the Free Guide]

    Mark J. Kohler’s 30-Point Tax Guide
    Discover practical tax strategies and planning opportunities every business owner and investor should know.
    [Download the Free Guide]

    Get More From Mat & Mark

    Watch on YouTube
    Tax strategies, business planning, investing, asset protection, and more.
    [Visit the YouTube Channel...


    #507 Stop Choosing to be Broke with Jarom Bergeson Jun 13, 2024
    Show notes

    Could you imagine erasing $221,000 of debt in just 31 months? Join us in a special episode of the Main Street Business Podcast as Mat sit's down with Jarom Bergeson, a partner at KKOS Lawyers and author of "Stop Choosing to be Broke: A User's Guide to Money." Jarom's remarkable story of financial transformation—from drowning in debt to achieving financial stability—is nothing short of inspiring. Despite having a lucrative career as a lawyer, Jarom had to confront the harsh reality that smart financial decisions were essential to his journey.
    Get Jaroms Book Here!
    https://www.amazon.com/Stop-Choosing-Be-Broke-Users/dp/B0CP82Q62R
    Schedule a Call with Jarom Here!
    https://kkoslawyers.com/lawyers/jarom-j-bergeson/

    Ready to Take the Next Step?

    Work With Mat & Mark’s Law Firm
    Get strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.
    [Book a Call with KKOS Lawyers]

    Take Control of Your Retirement
    Want to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.
    [Learn More About Directed IRA]

    Free Resources

    Mat Sorensen’s Optimal Order of Investing Guide
    Learn how to prioritize where your money should go and build a smarter investing strategy.
    [Download the Free Guide]

    Mark J. Kohler’s 30-Point Tax Guide
    Discover practical tax strategies and planning opportunities every business owner and investor should know.
    [Download the Free Guide]

    Get More From Mat & Mark

    Watch on YouTube
    Tax strategies, business planning, investing, asset protection, and more.
    [Visit the YouTube Channel...


    #506 A Beginners Guide For Business Owners To BEAT The IRS Jun 11, 2024
    Show notes

    In this episode of the Main Street Business Podcast, host Mark J. Kohler presents simplified tax strategies for business owners beginning their journey. Learn essential tips to safeguard your assets, reduce your taxes, and confidently control your financial path.

    Here's what you can look forward to:

    • Mark introduces and breaks down the Trifecta concept for tax savings and asset protection.
    • How the Trifecta design can be used as a tool for visualizing and achieving financial goals.
    • Importance of separating business and personal assets for protection.
    • Explanation of the benefits of setting up an S Corporation.
    • Encouragement to invest retirement accounts in non-Wall Street products.
    • Significance of having a tax advisor who understands advanced tax strategies.

    Ready to Take the Next Step?

    Work With Mat & Mark’s Law Firm
    Get strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.
    [Book a Call with KKOS Lawyers]

    Take Control of Your Retirement
    Want to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.
    [Learn More About Directed IRA]

    Free Resources

    Mat Sorensen’s Optimal Order of Investing Guide
    Learn how to prioritize where your money should go and build a smarter investing strategy.
    [Download the Free Guide]

    Mark J. Kohler’s 30-Point Tax Guide
    Discover practical tax strategies and planning opportunities every business owner and investor should know.
    [Download the Free Guide]

    Get More From Mat & Mark

    Watch on YouTube
    Tax strategies, business planning, investing, asset protection, and more.
    [Visit the YouTube Channel...


    #505 Why The Rich Put EVERYTHING In Their Living Trust Jun 04, 2024
    Show notes

    Get your Estate Plan for up to $250 OFF during our Estate Plan Special: https://kkoslawyers.com/estate-planning-special-2024/
    In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen present the 4 key benefits of a living trust, no matter your age or wealth status, and how it can secure your family’s financial future after you’re gone.

    Here are some of the highlights:

    • Mark and Mat give a thorough explanation of what a living trust is and its role in estate planning.
    • Discussion on how a living trust avoids court and probate, keeping matters private.
    • An in-depth comparison between a living trust and a will
    • Encouragement to consider estate planning for parents or grandparents.
    • A break down of how a living trust saves money in the long run by avoiding court fees and legal battles
    • Helps prevent heirs from mismanaging their inheritance.
    • How a living trust allows for creative distribution of business assets among heirs.
    • Mark and Mat urge everyone to budget for estate planning and update plans as needed.

    Ready to Take the Next Step?

    Work With Mat & Mark’s Law Firm
    Get strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.
    [Book a Call with KKOS Lawyers]

    Take Control of Your Retirement
    Want to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.
    [Learn More About Directed IRA]

    Free Resources

    Mat Sorensen’s Optimal Order of Investing Guide
    Learn how to prioritize where your money should go and build a smarter investing strategy.
    [Download the Free Guide]

    Mark J. Kohler’s 30-Point Tax Guide
    Discover practical tax strategies and planning opportunities every business owner and investor should know.
    [Download the Free Guide]

    Get More From Mat & Mark

    Watch on YouTube
    Tax strategies, business planning, investing, asset protection, and more.
    [Visit the YouTube Channel...


    #504 Former White House Director: How To WIN In This Economy w/Anthony Scaramucci May 31, 2024
    Show notes

    In this episode of the Main Street Business Podcast, Mark J Kohler welcomes Anthony Scaramucci, the former White House Director of Communications and founder of Skybridge Capital. The discuss the concept of resilience and the importance of relationships in business.

    Here's what you can look forward to in this episode:

    • Anthony shares his journey from Main Street to Wall Street and back, highlighting the lessons learned as a small business owner.
    • He provides valuable insights into the mindset shift needed to overcome setbacks and build a successful career, emphasizing the importance of relationships over transactions.
    • Mark and Anthony discuss the significant differences between the close-knit community of Main Street and the often superficial nature of Wall Street and Hollywood.
    • Anthony introduces his new book, "From Wall Street to the White House and Back," and shares anecdotes from his time in the White House, focusing on the lessons learned and the resilience required to bounce back from public scrutiny.
    • He underscores the importance of optimism, adaptability, and maintaining a clear vision amidst challenges in the entrepreneurial journey.

    The significance of digital currencies, NFTs, and the future of finance are also discussed, with Anthony offering his expert perspective on these emerging markets.

    Ready to Take the Next Step?

    Work With Mat & Mark’s Law Firm
    Get strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.
    [Book a Call with KKOS Lawyers]

    Take Control of Your Retirement
    Want to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.
    [Learn More About Directed IRA]

    Free Resources

    Mat Sorensen’s Optimal Order of Investing Guide
    Learn how to prioritize where your money should go and build a smarter investing strategy.
    [Download the Free Guide]

    Mark J. Kohler’s 30-Point Tax Guide
    Discover practical tax strategies and planning opportunities every business owner and investor should know.
    [Download the Free Guide]

    Get More From Mat & Mark

    Watch on YouTube
    Tax strategies, business planning, investing, asset protection, and more.
    [Visit the YouTube Channel...


    #503 Hire Your Kids To Save THOUSANDS In Taxes... Here's How May 28, 2024
    Show notes

    In this episode of the Main Street Business Podcast, host Mark J. Kohler breaks down the steps to successfully bringing your kids into the business fold and how this move can teach them crucial work ethics and provide substantial tax benefits. Explore detailed, actionable strategies that ensure your family capitalizes on every opportunity.

    Here's what you can look forward to:

    • Mark begins by emphasizing the significance of getting children on payroll.
    • Unpacks the motivations for teaching children work ethic and business principles.
    • Importance of legitimizing children's involvement in the business.
    • Details on setting up a family support company for S corporations.
    • Ensure children over 18 are added to the board of directors or advisors and are issued 1099s or W-2s as appropriate.
    • Thoughts on the importance of financial education for children.
    • Advice for tax advisors to learn and implement these strategies.

    Ready to Take the Next Step?

    Work With Mat & Mark’s Law Firm
    Get strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.
    [Book a Call with KKOS Lawyers]

    Take Control of Your Retirement
    Want to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.
    [Learn More About Directed IRA]

    Free Resources

    Mat Sorensen’s Optimal Order of Investing Guide
    Learn how to prioritize where your money should go and build a smarter investing strategy.
    [Download the Free Guide]

    Mark J. Kohler’s 30-Point Tax Guide
    Discover practical tax strategies and planning opportunities every business owner and investor should know.
    [Download the Free Guide]

    Get More From Mat & Mark

    Watch on YouTube
    Tax strategies, business planning, investing, asset protection, and more.
    [Visit the YouTube Channel...


    #502 FBI Negotiator Shows You How To Negotiate Like The RICH w/Chris Voss May 24, 2024
    Show notes

    In this episode of the Main Street Business Podcast, host Mark J. Kohler welcomes master negotiator and businessman, Chris Voss to discuss his background as the FBI's lead international kidnapping negotiator and how his skills can be used in both the corporate world and everyday life.

    Here's what you can look forward to:

    • Mark and Chris Demonstrate a negotiation in everyday situations.
    • Explanation of negotiation as a collaborative process rather than a competitive one.
    • Chris shared a story about negotiating to retrieve lost luggage.
    • Emphasized the importance of creating a good impression.
    • Understanding the needs and feelings of the other party can influence negotiation outcomes.
    • Trusting and developing gut instinct and emotional intelligence in every situation.
    • Suggestions for making emotionally intelligent observations to build rapport.


    Ready to Take the Next Step?

    Work With Mat & Mark’s Law Firm
    Get strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.
    [Book a Call with KKOS Lawyers]

    Take Control of Your Retirement
    Want to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.
    [Learn More About Directed IRA]

    Free Resources

    Mat Sorensen’s Optimal Order of Investing Guide
    Learn how to prioritize where your money should go and build a smarter investing strategy.
    [Download the Free Guide]

    Mark J. Kohler’s 30-Point Tax Guide
    Discover practical tax strategies and planning opportunities every business owner and investor should know.
    [Download the Free Guide]

    Get More From Mat & Mark

    Watch on YouTube
    Tax strategies, business planning, investing, asset protection, and more.
    [Visit the YouTube Channel...


    #501 TAX LAWYER EXPLAINS: Get Your Home Office For Free? May 20, 2024
    Show notes

    In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen guide small business owners through the ins and outs of claiming the home office deduction. They also highlight other valuable tax write-offs, encouraging everyone to maximize their savings. Tune in to learn how to keep more of your hard-earned money!

    Here's what you can look forward to:

    • Mark and Mat emphasize the importance of understanding the home office deduction and its representation for small business owners.
    • They map out the different strategies that exist for various business structures like S corp, schedule C, schedule E, and schedule F
    • Detail the different methods for calculating the home office deduction, such as the regular method and the simplified method.
    • Expanding the use of home space beyond traditional office settings, such as using kitchens for catering businesses
    • Highlight other key business strategies, including putting kids on payroll, funding retirement accounts.
    • Suggest thinking outside the box and considering what each business needs when utilizing home space.
    • Encourage business owners to demand conversations with accountants about maximizing deductions.

    Ready to Take the Next Step?

    Work With Mat & Mark’s Law Firm
    Get strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.
    [Book a Call with KKOS Lawyers]

    Take Control of Your Retirement
    Want to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.
    [Learn More About Directed IRA]

    Free Resources

    Mat Sorensen’s Optimal Order of Investing Guide
    Learn how to prioritize where your money should go and build a smarter investing strategy.
    [Download the Free Guide]

    Mark J. Kohler’s 30-Point Tax Guide
    Discover practical tax strategies and planning opportunities every business owner and investor should know.
    [Download the Free Guide]

    Get More From Mat & Mark

    Watch on YouTube
    Tax strategies, business planning, investing, asset protection, and more.
    [Visit the YouTube Channel...


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