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Main Street Business

#477 Open Forum - Real Estate, S-Corps, and Electric Vehicles

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Irs Updates, Financial Reporting, Management, Business Structure, Accounting, Legal Compliance, Business, Entrepreneurship, Tax Strategies, Tax Tips, Estate Planning, Tax Prep

4.8584 Ratings

🗓️ 13 February 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

In this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen discuss various topics related to business, taxes, and legal structures. They answer questions from listeners about tax benefits for small businesses, the benefits of S corporations, and strategies for real estate investing. Here's what you can look forward to: A detailed explanation of how an EV vehicle can be written off, even if you receive the EV credit for the vehicle.An insight into the process of ...

Transcript

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0:00.0

We're hoping to help many, many of you that are small business owners, side hustles, big hustles, whatever you're hustling.

0:06.5

We're going to help you save money on taxes and protect it from criminals out there trying to steal it.

0:10.6

Can I ride off an EV vehicle in which I also receive the EV credit for my vehicle?

0:16.1

The answer is yes.

0:16.9

My new CPA recently filed a paperwork for my PLC to be an S-Corp in 24. So the old CPA got

0:24.6

fired because James probably realized he should have been an escort for four years and it cost him

0:30.5

tens of thousands of dollars. People that says very, very common, James saw the light,

0:35.5

got with the right account, and they're off to the races. Welcome everybody to another episode of the Main Street Business Podcast. I'm one of your co-hosts today. My name is Mark Kohler. I'm here with the illustrious Matt Sorensen, author of the book, The Self-Directed Diary Handbook. I hear a third edition is on the way. Third edition is on the way. I got two other books in the work. Mark has four books. You know, so. I'm taking a break.

0:59.4

So I got to catch up. Yeah. Let me catch up for a second. But we're just two cool dudes,

1:03.8

business and tax guys, running our businesses, helping clients across the country, build their

1:08.6

wealth, save on taxes, protect their assets. So we have got your questions today. This is the Open Forum podcast. These are our listeners questions. And Mark and I've got some answers for you on them. I don't know if they'll be any good. Oh, come on. I'm always trying to be freaking awesome. We're trying to be humble. Yeah, I'm trying to be humble. Set the expectations low so we can blow you away here.

1:29.4

But make sure you always get over to Mainstreambusinesspodcast.com. You can submit your questions there. And those are the questions we're going to be fielding. I've also got some from social that have came in. But before we get started, we had a comment on YouTube. This is from the talking board who said, who's who.

1:45.0

I kind of like the pothead versus Cokehead chemistry you guys have. We had a comment on YouTube. This is from the talking board who said, who's who.

1:45.0

I kind of like the pot head versus Cokehead chemistry you guys have.

1:48.7

Excellent topics as well.

1:50.2

Thank you.

1:51.5

So, yeah, who's the Cokehead and who's the pot head?

1:55.0

I think I'm the pot head and you're the coach.

1:57.1

Really?

1:57.5

I have me my guess.

1:58.7

I don't know.

1:59.3

I'm like, who's who? I don you my guess. I don't know. I'm like, who's who?

...

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