We've got a great topic today. This is common questions and misconceptions people have about tax and legal planning. The health savings account. This is a, you know, a common problem where people get the HSA set up. They're like, the HSA is cool. Oh my gosh, I'm going to fund it. And then it's on day three or four, it's like, okay, now how do I do a reimbursement? One of the most common misconceptions we get for real estate investors, something called

the due on sale clause.

What do I do about my credit cards and the expenses I incurred for my business there?

And if I didn't run them through the business account, they're gone, right?

Welcome, everybody to this week's episode of the Main Street Business Podcast.

Thank you for being a regular listener.

I'm glad you, maybe even just stumbled on this for your first episode with us.

My name is Mark Kohler, a CPA attorney, author, business owner, rental property owner,

crypto miner, surfer, whatever. I'll do, jack of all trades. Here with Matt Sorensen. Yeah, thank you. Yeah. Just Matt Sorensen, you know, I don't want to throw all my accolades out there and make Mark feel, you know, inadequate. You have accolades? Yeah, lots of them. You do? Okay. You know, been on the cover of magazine.

I don't know if you know that, but, um, so, all right. Well, we are two tax lawyers. I didn't, I didn't have anything. It's like, I don't know. Was that Sonona County Board of Realtors 1994? or, you know, let's just say, let's just say it was on a cover magazine, okay? Does it matter?

No, it doesn't matter. It doesn't. It doesn't. Attorney at Law magazine. I got the proof.

But anyways, you don't care about that. We've got a great topic today. This is common questions and

misconceptions people have about tax and legal planning.

And whether we get it from our own family members, every once in a while from a client that we thought knew how to do it right, experienced business owners to, of course, all the newbies that seem to get all of it wrong.

So we want to hit some of those common ones today and try to set you straight, give you the right info, set you on the right track. Love it. I like it. Well, let's dive into it. We're going to try to keep it light and fun, enjoyable. So we appreciate your patience with some of our antiques and some, a little digressions. it keeps it a lot more enjoyable. So we're going to talk about first topic is the health savings account. Uh, this is a, you know, a common problem where people get the HSA set up. They're like, the HSA is cool. Um, oh my gosh, I'm going to fund it. And then it's on day three or four. It's like, okay, now how do I do do reimbursements? Do I do reimbursements? Do I let it grow? Do I have to take it? And it just kind of that these questions a lot of times I think today are going to be the day after questions, you know? We're the day after pill. Yeah, the morning after. Is it morning after? I think you, I don't I think the day after work, so anything, the morning. It's got me the morning. I don't know. Yeah, I don't know either.

I was like,

it's on the directions or what.

It's got me the morning. It's got me the morning. I don't know. Yeah, I don't know. Yeah, I don't know either. I was like, it's on the directions or what. If this is like 1 p.m. in the afternoon, ain't going to work. Game over. Beyond the time. Miss the buzzer beater. Okay. So, um, so this is a very common issue is what do we do next? So for those of you that have a health savings

account or have thought about building one up, these are phenomenal, of course. Think of it like a

Roth IRA on steroids, but just for health care. The reason why it's on steroids is you get a tax

deduction going in and you can pull it out at any age, tax free and penalty free,

as long as it's for medical. So I mean, it's just like the best of all. It's savings worlds. And Matt

...