#552 Tax Lawyer Q&A: Secrets To Saving Thousands In Taxes...

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

🗓️ 17 December 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Main Street Business Podcast Mark J. Kohler and Mat Sorensen host another open forum and break down key retirement planning strategies, including the mega backdoor Roth IRA, and discuss the benefits and pitfalls of partnership structures. They also explore the potential implications of the Corporate Transparency Act following its recent unconstitutional ruling, with actionable tips for trust management and entity cleanup. Here are some of the highlights: Mark and Mat cl...

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. Here is Mark and Matt.
0:34.5	You're getting a bad deal. This is my quick opinion on that. I want to go into business with someone that wants to make money with me, not make money from me. And you've got to be very careful when you're looking at partnership structures and deals and opportunities to understand quickly. This is just trying to make money off of me. I don't even know if you need this partner. Do I need to file this B-O-I report?
0:55.5	Right now you don't.
0:59.7	I will pay this tax all day long, every day and on Sunday,
1:02.8	because I've seen so many clients afraid of the tax.
1:04.8	This tax is worth it.
1:12.5	Welcome, everyone, to the Main Street Business Podcast.
1:15.6	This is Matt Sorensen, joined by the incredible Mark J. Kohler.
1:16.9	Thank you so much.
1:22.2	And right on the heels of our amazing live broadcast.
1:24.5	Yeah, we had a live podcast.
1:25.5	It was incredible.
1:33.3	Tax and Legal 360, amazing audience, lot of tax legal professionals, people leveling up their tax and legal knowledge from the goat, Mark J. Kohler. Well, we had 20 plus speakers, classes, breakout sessions. It was sold out. We've announced the next one for June, tax and legal 360.com. So check it out, folks.
1:45.1	But at that, if you haven't listened to that podcast, it was a good one about the life insurance
1:49.9	versus Roth IRA.
1:52.4	Very, very contentious, debated topic out there on the web.
	...

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