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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:
    #500 $100M+ GameStop Founder Reveals His Story w/ Gary Kusin May 17, 2024
    Show notes

    In this episode of the Main Street Business Podcast, host Mark J. Kohler welcomes entrepreneur and GameStop co-founder, Gary Kusin to share his insights and experience with other aspiring leaders. Gary maps out his journey to becoming an industry leader himself and empowers emerging entrepreneurs to think beyond predefined passions.

    Here's what you can look forward to:

    • Mark delves into Gary’s impressive career trajectory and how it’s made an impact on the corporate world.
    • The importance of applying an analytical approach to different ventures.
    • How Gary transitioned to the CEO role at Kinko's to implement a customer-centric approach.
    • Emphasize the significance of creating a culture around customer interactions.
    • Developing leadership principles based on personal experiences.
    • Encouraging entrepreneurs to seize every opportunity that comes their way.

    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...


    #499 Where and How To Set Up an LLC May 14, 2024
    Show notes

    In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen delve into how business owners can properly form an LLC. Together, they walk you through everything from selecting the ideal state for your LLC to dispelling misconceptions and providing professional tips on LLC setup, safeguarding assets, tax planning, and beyond!

    Here's what you can look forward to:

    • Mark and Mat highlight the significance of selecting the appropriate state for setting up your business entity.
    • Emphasize the need to consider employment issues and operational locations when deciding on the state.
    • Unpack advanced asset protection strategies as your business grows and expands.
    • Explore the concept of nonprofit LLCs and their role in charitable events and fundraising.
    • List the benefits of focusing on core business activities rather than complex entity structuring.
    • The importance of thorough planning, compliance, and avoiding shortcuts in entity setup and structuring processes.

    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...


    #498 How to Build a $50k/Month Tax Advisory Practice May 07, 2024
    Show notes

    In this episode of the Main Street Business Podcast, host Mark J Kohler shares an insider's perspective on becoming a successful Tax Advisor. Mark maps out the process, reveals the untold benefits and dispels the common myths of advisory services, and encourages you to take the next step.

    Here are some of the highlights:

    • Mark urges you to set goals, establish their motivation, and self-evaluate before making the leap into advisory.
    • Mark maps out the technical training steps: becoming a certified tax advisor, enrolled agent, and training on tax return preparation.
    • Emphasizes the need for street-smart tax strategies to provide valuable advice to clients.
    • Importance of hiring an executive assistant to handle administrative tasks and support client management.
    • Encouragement to follow ALL the necessary steps for building a successful advisory practice.
    • Overview of the resources, benefits, and training opportunities within the Main Street Tax Pro Network.
    • Details on conferences and workshops offered to enhance skills and collaboration in the tax advisory field.

    This episode is a must listen for anyone looking to build a successful tax advisory practice!

    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...


    #497 (8 MISTAKES) When Buying Your First Rental Property… Apr 30, 2024
    Show notes

    In this episode of the Main Street Business Podcast, host Mark J Kohler delves into the eight common blunders that new investors make when acquiring their first rental property. Learn valuable tips on how to sidestep these errors and set yourself up for a prosperous rental experience.

    Here's what you can look forward to:

    • Mark highlights the significance of tracking expenses from the start to classify them as startup costs.
    • Emphasizes the need for a proper LLC for asset protection when owning a rental property.
    • How to set up a separate bank account for the LLC to avoid commingling of funds.
    • The benefits of using a warranty deed and seeking professional assistance for the process.
    • The need for landlord insurance to protect against unforeseen events and liabilities.
    • The importance of knowing and understanding lease agreements as a property owner.

    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...


    #496 The Blueprint To Scaling A Business In 2024 w/ Jeffery Hayzlett Apr 28, 2024
    Show notes

    In this episode of the Main Street Business Podcast, host Mark J Kohler interviews Jeffrey Hayzlett, a renowned business advisor, keynote speaker, and global business celebrity. Today, Jeffrey shares his most important business learnings after 26 years and over 200 businesses being bought and sold.
    Here's what you can look forward to in this episode:

    • Jeffrey discusses how his journey in business leadership led him to becoming a celebrity judge on NBC's 'Celebrity Apprentice'
    • Mark and Jeffery talk about the importance of content creation and media presence in modern business.
    • Jeffrey introduces the "Hero Factor", explaining how values-based operations can drive business growth and foster a positive business culture.
    • Jeffrey emphasizes the critical role of data in business decisions and highlights the importance of constantly evaluating business operations and performance.
    • They discuss the growing trend of marketing to segments of one, the importance of authenticity in business, and learning from both business successes and failures.

    Tune in for these insights and more, as Jeffrey Hayzlett shares his wisdom on navigating today's dynamic business landscape.
    Learn more about Jeffery Hayzlett here: https://hayzlett.com/

    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...


    #495 Why You Shouldn't Write Off That Car Apr 25, 2024
    Show notes

    In this episode of the Main Street Business Podcast, Mark J Kohler shifts the idea of buying a car strictly for the write-off into reverse and emphasizes the importance of having a vehicle that aligns with your business needs.

    Here are some of the key points that Mark unpacks:

    • A breakdown of the pros and cons of business owners buying a vehicle.
    • An in-depth discussion on when it is suitable to buy a vehicle for business purposes to leverage tax benefits.
    • The significance of ensuring the business can support the deduction for the vehicle.
    • Example scenarios illustrating the risks of buying a vehicle based solely on the intention of writing it off.
    • The need for proper legal structuring and insurance when owning a business vehicle.
    • How the mileage method can be a suitable option for small business owners.
    • Thoughts on integrating family members' vehicles into business write-offs for tax benefits.

    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...


    #494 The 6 Steps To Creating a $1 Million Business Plan Apr 22, 2024
    Show notes

    In this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen explore the foundational aspects of business creation with their expert guidance. Mark and Mat highlight the key aspects of starting a business and present a well-defined strategy to initiate your entrepreneurial endeavor.

    Here's what you can look forward to:

    • Emphasis on focusing on essential information for a one-page business plan.
    • Importance of outlining crucial items before diving into business activities.
    • A detailed breakdown of the six key components of a one-page business plan.
    • How to craft a concise elevator pitch and define the business concept clearly.
    • A discussion on financial planning, startup costs, and creating a financial model.
    • Understanding capitalization and reserves for business sustainability.

    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...


    #493 Tax Strategies For NIL Athletes Apr 21, 2024
    Show notes

    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-offs
    • How to be patient yet proactive in setting up the business correctly and continuing education on entrepreneurship.

    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...


    #492 Cyber Security Expert Reveals How To Protect Your Assets w/Rick Jordan Apr 15, 2024
    Show notes

    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 threats
    • He 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/

    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...


    #491 What Can I Write Off in My Side Hustle This Year? (Listen Before April 15th) Apr 12, 2024
    Show notes

    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.
    Here's what you can look forward to:

    • 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.

    This episode is a must-listen for anyone looking to optimize their side hustle and navigate their tax obligations effectively.

    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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