#606 Open Forum - Tax Strategies for Small Businesses in 2026

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

🗓️ 16 January 2026

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this Open Forum episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen tackle real-world tax, legal, and business questions straight from small business owners and investors. From S corporations and QBI deductions to rental real estate, asset protection myths, HSAs, and retirement account strategies, this episode cuts through bad advice and explains what actually works under current IRS rules. The discussion covers common traps like trying to deduct personal investing...

Transcript

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0:00.0	GROC and ChatGPT will not be able to answer it properly.
0:03.4	Managing your stock portfolio is not a business.
0:06.6	You cannot write off your home office to manage your stock portfolio.
0:10.0	There is no asset protection in these privacy trusts.
0:13.0	If they sue you in a privacy trust, they're going to go after you personally, all of your assets.
0:18.0	You do not issue a child under age 18 at 1099, ever. The IRS is not there to give you
0:24.4	tax advice. Calling Satan to find out how to stay out at hell is not going to get you the right
0:29.7	answer you're looking for. Welcome everyone to the Main Street Business Podcast.
0:39.5	This is Matt Sorensen, joined by the incredible dapper and intelligent.
0:44.0	Mark J. Kohler, and this is the Open Forum podcast.
0:47.7	This is where we're covering your questions.
0:50.0	We think we have some smart answers.
0:51.8	You judge that.
0:53.1	But I'm here with the main man, Mark J. Kohler. Well, thank you, Matt. I appreciate the word dapper. This is a new jacket. I like that we're both wearing jackets. Of all the compliments I gave you. Yeah. You pulled dapper as the one you liked. Yeah. Okay. Sorry. I appreciate. Yeah, I guess, you you know that's where I was at today I put on a new
1:16.2	jacket so I guess I went there you look great too we're December was kind of chaos so we were
1:21.6	wearing sweaters and pullovers and pull it whatever you know uh but uh But now we're in our jacket weather.
1:28.3	Okay, well, I love the open forum, and we are going to get into it, folks.
1:33.3	This is where you can submit your questions.
1:35.3	We want to be holding more of these open forums in 2026 on the eve of a new launch of our website
1:42.3	and a better methodology to get your questions and answer them.
1:46.2	So we're going to be doing more of that. And I'm excited about that experience. So I'm ready to kick
1:51.8	it off, Matt. Are you? Absolutely. Okay. So the first question I have is from Mugs 338. And he says,
	...

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