#592 The 10 Biggest LLC Mistakes (And How to Avoid Them!)

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

🗓️ 5 September 2025

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Why risk your business and hard-earned money with the wrong setup when you could be protecting yourself and saving on taxes? In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down the critical steps every small business owner and new LLC owner must take to avoid costly mistakes. From choosing the right entity structure to understanding tax advantages, they reveal the insider strategies that keep more money in your pocket and safeguard your future. Dis...

Transcript

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0:00.0	You set this up with the state. You waved your flag. You put your stake in the ground and said, I'm going to set up this LLC.
0:05.4	It's like they, you know, did chat GPT now, or they Googled like, what state should I set up my LLC in? And they got the answer if you want to be a Fortune 500 company and be listed on the New York Stock Exchange. What does that have to do with your rental property in Oklahoma? you may think you're saving money. You're like, well,
0:20.9	I'm doing it because I'm saving money. No, the penalty and the cost to get back in good graces
0:27.3	with the state, it can be three times what it cost to just pay someone to do it in the first place.
0:33.0	This is going to be a theme today. Sometimes you just can't polish a turd.
0:40.0	Welcome everyone to the Main Street Business Podcast. This is Matt Sorensen. I'm joined by the
0:44.0	incredible Mark J. Kohler, and we are here, two lawyers wanting to help you, not make mistakes
0:50.3	with your LLCs. Yeah, top 10 mistakes in setting up your LLC and all of these are repairable.
0:58.4	And we are here for you.
0:59.6	So do not have, feel shame, feel guilt.
1:03.1	You're embarrassed.
1:05.2	You've got an LLC.
1:06.8	You are on the right track.
1:09.2	We love you.
1:10.1	We appreciate you. You're okay. Do you like that a little more feeling We love you. We appreciate you.
1:11.3	You're okay.
1:12.4	Do you like that a little more feeling at the beginning? Yeah. You want to, yeah, I like it. We are, yes, we are here for you. Yes. Okay. All right. But we've got to give you some bad news too. There could be a mistake made and we want you to rock and roll. So. Yeah. And it's easy to fix.
1:25.2	So we're going to go through some of these things that we see every day.
1:27.8	Mark and I have done the 10,000 consults with clients across the country from BusinessO. Yeah, and it's easy to fix. So we're going to go through some of these things that we see every day.
1:27.8	Mark and I have done the 10,000 consults with clients across the country, from business owners to real estate investors.
1:33.7	We've seen it all.
1:35.3	And we see some common things that we want you to get right because we want you to have that asset protection you're planning on.
	...

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