310: Can Starting a Business Help with Taxes?

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

2.4 • 584 Ratings

🗓️ 9 October 2020

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

YES! But it's tricky, you'll want to Join Mark and Mat as they break down the dos and don'ts of saving taxes with a small business. These strategies will save you THOUSANDS, you won't want to miss it. Let's get your side hustle started to begin the tax-saving process! Even if you own a business already, you will want to tune in to ensure you are getting the most tax savings you can out of your business. Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't ...

Transcript

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0:00.0	Welcome, everyone to the Main Street Business Podcast with Mark Kohler and Matt
0:09.2	Sorenson. We are excited to be with you today.
0:12.9	Yes.
0:13.2	Talking about, yeah, today.
0:16.9	We're excited every day, but also today.
0:21.0	Yeah.
0:21.2	Recording the podcast is our favorite day of the week.
0:23.5	It's really fun to just, first of all, I'd hardly ever talk to Matt if we didn't force ourselves on lunch to meet and do this.
0:31.0	And we've been doing it.
0:32.8	Boy, for seven years, every week, Wednesday at noon, you'll find us here.
0:40.6	It's our Sunday.
0:41.9	Date night.
0:43.0	It keeps a partnership strong, you know.
0:46.5	You need that love in your relationship.
0:48.9	So, all right.
0:50.0	Well, today's topic, you roll it out, Matt.
0:53.8	This is a good one. Yeah, we want to talk about whether starting a business can save you taxes.
0:59.3	I mean, as business owners ourselves, business and tax lawyers, working in the trenches with clients over the years, we've learned something about this. We can answer the question.
1:13.4	Yeah. We can answer this. And Matt's a tax lawyer. I'm also a CPA, and all we do is small business.
1:21.2	Hence, Main Street Business Podcasts, people, we're here for you. We've got a few questions
1:26.4	that we gathered before the show and we're
1:29.4	not going to do a little tax tip or legal tip we're just going to dive into this uh we're not
	...

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