#545 The Tax & Legal Playbook To Buying Businesses Part 3

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

🗓️ 15 November 2024

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen share the ultimate toolkit for buying and running a small business. Whether it's managing payroll, setting up the right entity, or preparing for the unexpected, they’ve got you covered. Tune in for tips on creating a thriving company culture, building strong employee relationships, and ensuring operational excellence in the critical first 100 days Here are some of the highlights: Mark and Mat discuss th...

Transcript

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0:00.0	Welcome to the Main Street Business Podcast with your distinguished hosts, Mark J. Kohler and Matt Sorensen.
0:05.5	Both are best-selling authors and have over 25 years of industry experience with 10,000 client consultations,
0:12.3	making them the leading tax and legal experts in the nation.
0:16.1	Together, they'll unpack the most complex tax, legal, and financial strategies,
0:20.6	crucial for saving more,
0:22.1	stressing less, and building generational wealth. Today, they're your personal advisors.
0:28.1	Ready to break it down for you and make the tax and legal game easier than ever.
0:32.6	Here is Mark and Matt.
0:34.5	Expect some unexpected. When you buy a small business, I'll tell you right now, something is going to blindside
0:41.4	you.
0:41.7	And it could be big, medium, or small.
0:44.3	You know you're bringing value.
0:45.9	And if this company makes $100,000 a year, you want to make it $200 grand a year.
0:49.6	Well, that doesn't happen with pixie dust.
0:52.5	You need to be the visionary.
0:53.6	And you coming in and being the guy on the chopping block,
0:57.0	you're getting rid of employees and you could ruin your reputation with the employees quite quickly.
1:01.7	You don't grow and scale a business.
1:03.0	You grow and scale people and the people grow and scale your business for you.
1:14.8	Welcome everybody to another episode of the Main Street Business Podcast.
1:15.9	My name is Mark Kohler.
1:22.5	I'm here with the illustrious Matt Sorensen in part three of our series of buying a business.
	...

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