#588 Tax Strategy Q&A: Mega Backdoor Roth, RV Write-Offs, and LLC Mistakes

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

🗓️ 22 July 2025

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mark Kohler and Mat Sorensen are back for another Open Forum episode of the Main Street Business Podcast — answering real tax, legal, and wealth-building questions from listeners across the country. In this episode, they cover advanced strategies and insider tips for: The Mega Backdoor Roth: How it works and who can use itMaximizing vehicle deductions and depreciation the smart wayFixing a broken S-Corp partnership structureLLCs vs. business trusts in CaliforniaSolo 401(k) contribution strate...

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.
0:05.3	Both are bestselling authors and have over 25 years of industry experience with 10,000 client consultations,
0:12.1	making them the leading tax and legal experts in the nation. Together, they'll unpack the most
0:17.0	complex tax, legal, and financial strategies, crucial for saving more, stressing less,
0:22.5	and building generational wealth. Today, they're your personal advisors, ready to break it down
0:28.5	for you and make the tax and legal game easier than ever. Here is Mark and Matt.
0:34.2	This is how you build wealth. This is how you build your American dream.
0:37.6	The business trust is the same, and you don't have to pay 800 bucks to the state of California.
0:41.5	I know you want me to give you that answer, William, but I'm not.
0:46.0	Because there's no such thing as a business trust in the state of California.
0:49.7	Three partners have equity ownership in the same S corporation.
0:53.4	You're in the wrong structure.
0:55.5	Whoever recommended an S corp for the three of you and didn't fix this when you added
1:00.9	your last partner, that would have been a great time to do it.
1:04.1	They just made it worse.
1:05.3	This is bad.
1:06.3	This has cost you thousands of dollars.
1:09.3	So here's the perfect structure.
1:14.6	Welcome everybody to the Main Street Business Podcast. My name's Mark Kohler. I'm here with
1:18.8	the infamous Matt Sorensen, author of the self-directed IRA handbook, second edition,
1:24.4	the best-selling book in the industry. Boy, this sounds really,
1:31.0	that was that too commercially, Matt? Because I don't know. I appreciate the plug, you know.
	...

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