#405 OPEN FORUM SHOW - Answering Difficult Tax, Legal & Business Questions

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

🗓️ 10 November 2022

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this weeks open forum episode, Mat and Mark break down a myriad of covering topics related to tax and legal questions asked by you. 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! You don't want to miss this! Secure your tickets for the #1 Event For Small Busines...

Transcript

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0:00.0	Mark and Matt, I'm 33, live in California.
0:02.0	I have no major assets.
0:03.2	I have a W-2 job.
0:04.4	I don't have a side hustle yet. I really interested in investing myself to better my future. Setting up an LLC now and wondering if I can include the 1099 for the whole year. In my LLC and save paying double FICA on the 100 grand. Is it possible for a corporation to be changed to a nonprofit? rating your 401K for anything than retirement after age 60 to just pay the bills is you've got
0:25.4	to be triple check.
0:26.5	It better be an emergency and you better be careful.
0:29.1	Welcome everybody to today's episode of the Main Street Business podcast.
0:33.9	Excited to be here with you.
0:35.1	This is Mark Kohler with the illustrious Matt Sornson.
0:38.1	Back from, can I say where? Is that okay? Is that a public knowledge? It's okay. No location or can I say why? You could say, yeah. I can say Matt is back from his mini moon. I learned about that. Mini, mini honeymoon. They're both busy individuals. Congratulations, Matt, on your recent marriage to Michelle
0:53.9	and just got back from Cabo.
0:55.5	Yeah, it was amazing.
0:56.9	Yeah, thanks.
0:57.6	And of course, Matt, on your recent marriage to Michelle and just got back from
0:55.1	Cobbo. Yeah. It was amazing. Yeah. Thanks. And, of course, Mark gave a classic toast at the
1:00.9	wedding following the ceremony. He gave a presentation on the trifecta. Yes. And he did me a
1:07.5	solid because I want to let everybody know that they actually weren't at a wedding.
1:12.0	They were at a tax workshop.
1:13.8	Yes.
1:14.2	Which is now tax deductible.
1:16.4	It's a very expensive tax workshop with flowers and drinks and open bar and a dinner.
1:22.7	It looked like a wedding.
	...

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