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Main Street Business

309: Politics Aside- Strategies Entrepreneurs can Learn from Trump's and Biden's Tax Returns

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4584 Ratings

🗓️ 2 October 2020

⏱️ 48 minutes

🧾️ Download transcript

Summary

Mark Kohler and Mat Sorensen go through the incredible tax strategies buried in Trump's and Biden's tax returns and leave the politics alone. Democrats and Republicans alike will love this refreshing look at basic business strategies to help them succeed in their American dream. To search for prior episodes, or sign up for Mat's Weekly Free Newsletter, visit: https://mainstreetbusiness.com/ Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't wan...

Transcript

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0:00.0

Welcome everyone to the Main Street Business Podcast with Matt Sorensen and Mark Kohler.

0:10.1

We're excited to talk to you today about, I think, you know, a very newsworthy topic and one that actually has a lot of content that, while's in the news, can actually use today for yourself

0:23.2

and in your business and tax planning.

0:25.1

Yeah.

0:25.3

You know, I'm just tired.

0:26.5

I feel like Tommy Lee Jones in The Fugitive when he finally caught Harrison Ford in the car,

0:35.8

and he was just like, I'm tired.

0:38.1

You know, I lost so much sleep over the tax cuts and jobs act, then the CARES Act, then the PPP.

0:45.3

And last night up to, I'm up until two in the morning reading Joe Biden's and Donald's Trump's tax.

0:51.6

I want to say tax returns, but those are still somewhat elusive. But I'm tired,

0:57.0

but this is exciting. And we are no, no politics here. Right. And you didn't even catch the

1:02.4

fugitive. You didn't even catch the fugitive and you're tired. Yeah, that's right. I just think

1:07.5

me up one of those donuts with those sprinkly things on it. Come on. Let's go. Yeah. That's a great movie, by the way. And that is a classic Tommy Lee Jones.

1:15.6

It's like almost, it's like almost 25 years old. I told my kids, we need to watch the fugitive.

1:19.5

They're like, what? Anyway. Okay, but everybody, politics aside, rhetoric aside, no puffery.

1:26.8

We're not going to give our personal comments on New York

1:30.3

Times, Wall Street Journal, CNN, none of that. We're just going to tell you the real strategy,

1:35.5

and we're going to get right to it. What are the real tax strategies that any of you could use,

1:40.0

and what can we learn from on these tax returns? Yeah. Yeah, we've heard a lot about Trump, of course.

1:47.0

Yeah, we've heard a lot from Trump, of course, on what you, on, you know, people asking

1:51.5

big questions and how does he pay $750 in tax?

1:55.1

Well, there's a lot of great tax planning in it.

...

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