#398 Tax & Legal Easy Button | The Trifecta...

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

🗓️ 13 September 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this weeks episode Mark and Mat explain the importance of The Trifecta, listen as Mark and Mat as they go into detail, on how the Trifecta can help you. Stay tuned and listen as Mark and Mat explain vital do's and don'ts when owning an LLC. Don't miss this weeks episode of the Main Street Business Podcast. To submit a question for the next open forum show, or to learn more, visit https://mainstreetbusiness.com/ Grab my eBook 30 Unique Strategies Every Business Owner Should Know!&...

Transcript

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0:00.0	This is about keeping more of your hard-earned money.
0:03.4	We just want to make life easier for the planners and the planees.
0:07.1	By putting stuff from the right categories using the right tax strategies for the right type of income.
0:12.4	Welcome everybody to the Main Street Business Podcast.
0:14.9	My name is Mark Kohler and I'm here with the illustrious Matt Sorenson.
0:18.0	Both of us are tax lawyers helping small business owners around the country,
0:21.1	and you may be wondering what the hell is this trifecta. Well, let me tell you, the trifect is
0:25.2	going to make your life better because it makes things simpler. It brings it all together.
0:31.0	We love explaining the trifecta to business owners because they understand how their entity
0:35.6	works with their tax return, works with their trust, works with their rentals, works with all of it to just save taxes and make
0:42.4	life easier. It's so hard to freaking understand a lawyer accountant. We're going to break it down
0:46.6	right here. Yeah. And this is about keeping more of your hard earned money, okay, by putting
0:52.7	stuff from the right categories using the right
0:54.8	tax strategies for the right type of income.
0:57.0	It's also about protecting your assets, making sure you don't mix up your liabilities
1:02.2	with your assets so the stuff can blow up and you lose it all.
1:05.2	Okay, it's about asset protection, but you gotta organize it right and structure it right.
1:10.2	But then of course, we want to make sure your estate passes on to your loved ones, the people you want it to go to. And that's the estate plan. And those are the three pieces of the trifecta. And I freaking love it. And we're going to break it down now. Let's go to the whiteboard guys. Please don't go anywhere. Give this video a shot because you're going to want to share this with
1:27.6	your attorney or cpa we train attorneys and cpAs around the country as well we respect the industry
1:33.0	we're not dissing on it we just want to make life easier for the planners and the planees
1:38.8	so whether you're one or the other we're going to show you how this works if there was an easy button
1:43.3	this is the closest thing to the easy button in tax and legal planning. All right. We're going to, we kick
	...

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