The wealthy know them. If you want to be wealthy, you've got to know the strategies the wealthy do. This is it. This is a very, very important podcast. We do it once a year. So many families are not talking about financial literacy, talking about wealth, teaching their family about the American dream, getting help from their family members, getting advice from their parents or aunts and uncles and getting their teenagers or kids in college to be included in the

conversation.

You're going to be able to take the write-offs and you don't have to be rich to do this.

You're just going to manufacture the ride-up. Put the bunny in, take it right back out. You don't have to wait until you're 59.5. None of that crap. Welcome everybody to the Main Street Business Podcast. and what is going to be today, the best podcast you've listened to all year that saved you the most money.

Because saving money is just as important as making money. what is going to be today the best podcast you've listened to all year that saved you the most money

because saving money is just as important as making money my name is mark color i'm here with the

infamous matt sorenson we got 25 freaking awesome tax strategies the show's going to rock yeah we're not

just influencers talking about this we are tax lawyers in the trenches doing this every day we've done

the 10 000 consults we know what works and what's legit and what really matters. So we're going to hit the hottest strategies. Now, we've got more of this. We've got like Mark Scott has 25 point checklist here. And our law firm, we're doing this with clients. I want to say this. When you go through a tax planning strategy, you might consider 25 things.

Eight of them might work for you, but you got to go through the 25. Everyone's different. It's not an easy button. You just get a hit. So we're going to hit these in rapid fire mode. So they might trigger everyone. Maybe every other one is like, ooh, I need to think about that. Oh, that doesn't apply to me. Oh, that one does. So super important that, frankly, I know some you listen to this while you're working out or driving. Please set aside the time to put this on

double speed and have a piece of paper right next to you and go, okay, boom, boom, boom. And then that's

your notes. Those are going to be the notes you're going to have when you have your consultation with your tax advisor. And we're going to give you some resources where you can find we've got over 100 tax advisors to choose from that speak. Mark Kohler or Matt So Orson. They can be very, very affordable. And we have our own tax lawyers here at the law firm that are doing consults and building trifecta. So we'll come to that. I just want you to know, we have a resource because

someone you're like, well, how do I do this? I can't. We'll get to it. But just right now, it's about identifying. Yeah, baby. Okay. And there are a lot of this stuff you need to do by your end. That's what we're talking about it right now. We were just talking about this earlier. What happens on April 15th is the report card of what you did for tax planning in the year.

There's some things you can do after January 1st that will help you in 20, 23 tax planning. But a lot of this stuff needs to be done by December 31st. So this is the time. This is the time to say, take action now. And one last caveat. And then we're just going to take every other one. Okay. Just do it.

And I'll give you, you can take number one if you want.

All right. So I'll say this also.

So many of these strategies aren't about spending money before you're in.

It's just about maybe getting the right structure in place to deploy the money right after the first.

Or getting the structure in place so that you could take

advantage of future strategies. And we're going to come to like the health savings account.

So there's a lot of deadlines coming up on December 31st and the wealthy know them.

If you want to be wealthy, you've got to know the strategies to wealthy do. This is it. This is a very, very important podcast. We do it once a year. This is a huge podcast, a lot of listens as people try to turn the corner into the new year. Okay, number one. All right. Numer 101, retroactive S selection on your LLC. Why are we talking about this? This is foundational. Any small business owner, I don't care if this is your main business or side business. You're selling goods or services, operational business. You need to have an S corporation. If you have an LLC, a lot of people go out and they're like, I have an LLC. I'm going to save on taxes because I have an LLC. No, you're not. LLCs don't save on taxes, but if you have an S selection on it or you have

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