342: 1031 Exchange - Tips and Strategies to Save You Thousands
Main Street Business
Mark J Kohler and Mat Sorensen
2.4 • 584 Ratings
🗓️ 10 June 2021
⏱️ 60 minutes
🧾️ Download transcript
Summary
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| 0:00.0 | Welcome, everyone to the Main Street Business Podcast with Mark Kohler and Matt Sorensen. |
| 0:15.4 | Just another great day here on the Main Street Business Podcast. |
| 0:18.8 | We're excited you're with this here today to talk about saving taxes on real estate. |
| 0:24.6 | Yeah, excited to be here. |
| 0:26.3 | I had a really interesting weekend. |
| 0:29.3 | It was power packed with just a little of everything. |
| 0:35.6 | Power packed. |
| 0:36.8 | Yeah, let me just give you a little teaser here. |
| 0:39.5 | I'll just go through the list and then give you the highlight was, uh, first, as many of you know, my |
| 0:45.0 | HSA, if you've been following the show, has opened an LLC called the Kohler Dutton livestock |
| 0:51.2 | company, which you, you know, Yellowstone fans, know what that means. |
| 0:57.2 | And my five cows and my HSA formed an LLC called the Kohler-Dutton Livestock Company and bought |
| 1:06.0 | five cows who were with child or with calf and gave birth to five bulls. |
| 1:14.5 | That was a month ago. |
| 1:16.4 | And Saturday was the fateful day for these bowls to become what we know as steers. |
| 1:23.4 | Now, I'm not going to go into the birds and the bees here. |
| 1:26.6 | But now I can't because it's a prohibited transaction. |
| 1:31.4 | I was able to go to the ranch and assist in some of the other castrations and branding of other bulls. |
| 1:39.8 | But my bulls were handled by the ranch. |
| 1:42.5 | And my 10 cows now are often a little pasture eating |
| 1:46.8 | grass. My wife was very upset about the process of branding and castration thinking it was |
| 1:53.0 | cruel and unusual punishment. But that's the birds and the bees. That's what cattle |
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