#569 Tax Lawyer QnA: Strategies The Rich Use to Avoid Paying Taxes

Main Street Business

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6M ago 50:48

MP3•Episode home

In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen dive into listener questions about tax and business planning. From maximizing deductions on rental properties to creative financing strategies for commercial real estate and smart ways to restructure an LLC, they address the biggest tax and business concerns entrepreneurs and investors face.

Here are some of the highlights:

Mark explains the benefits of short-term rentals, including accelerated depreciation and cash flow.
Mark & Mat provide a detailed explanation of how short-term rentals can be grouped under the 469-4 election and the importance of material participation.
The importance of understanding the long-term play when dealing with short-term rentals.
A breakdown of various creative solutions like subleasing and seller financing to mitigate the financial burden.
The potential of seller financing and the benefits of carrying the paper for a premium.
The possibility of condominium conversion as a unique solution to increase a property's value.
Mark & Mat discuss the potential pitfalls of borrowing against equity and the importance of generating income to pay debt service.
The importance of keeping assets that have great cash flow or appreciation and the potential for 1031 exchanges.

Grab my FREE Ultimate Tax Strategy Guide HERE!
You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: Main Street 360
Looking to connect with a rock star law firm? KKOS is only a click away!
Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute discovery call to explore the Main Street Tax Pro Certification.
Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
Craving more content? Check out my Instagram!

Chapters

1. Introduction and Open Forum Setup (00:00:00)

2. Short-Term Rental Grouping Election Strategies (00:04:12)

3. Problem Commercial Property Solutions (00:10:28)

4. Buy, Borrow, Die Strategy Analysis (00:22:41)

5. BOI Reporting Requirements Update (00:30:46)

6. Family LLC and Board Meetings (00:34:10)

7. Land Trust vs LLC Privacy Structures (00:41:01)

8. New Business Structure Considerations (00:49:15)

596 episodes

#Business #Mark J Kohler #Mat Sorensen #MBA #Entrepreneur #Mark J Kohler And Mat Sorensen #Tax Strategies #Legal Compliance #Business Structure #Tax Tip #Accounting #Irs Updates #Financial Reporting #Tax Prep #Tax Reform #Estate Planning

#569 Tax Lawyer QnA: Strategies The Rich Use to Avoid Paying Taxes

Main Street Business

16 subscribers

published 6M ago

MP3•Episode home

Here are some of the highlights:

Mark explains the benefits of short-term rentals, including accelerated depreciation and cash flow.
Mark & Mat provide a detailed explanation of how short-term rentals can be grouped under the 469-4 election and the importance of material participation.
The importance of understanding the long-term play when dealing with short-term rentals.
A breakdown of various creative solutions like subleasing and seller financing to mitigate the financial burden.
The potential of seller financing and the benefits of carrying the paper for a premium.
The possibility of condominium conversion as a unique solution to increase a property's value.
Mark & Mat discuss the potential pitfalls of borrowing against equity and the importance of generating income to pay debt service.
The importance of keeping assets that have great cash flow or appreciation and the potential for 1031 exchanges.

Grab my FREE Ultimate Tax Strategy Guide HERE!
You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: Main Street 360
Looking to connect with a rock star law firm? KKOS is only a click away!
Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute discovery call to explore the Main Street Tax Pro Certification.
Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
Craving more content? Check out my Instagram!

Chapters

1. Introduction and Open Forum Setup (00:00:00)

2. Short-Term Rental Grouping Election Strategies (00:04:12)

3. Problem Commercial Property Solutions (00:10:28)

4. Buy, Borrow, Die Strategy Analysis (00:22:41)

5. BOI Reporting Requirements Update (00:30:46)

6. Family LLC and Board Meetings (00:34:10)

7. Land Trust vs LLC Privacy Structures (00:41:01)

8. New Business Structure Considerations (00:49:15)

596 episodes

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Main Street Business « » #569 Tax Lawyer QnA: Strategies The Rich Use to Avoid Paying Taxes

Chapters

1. Introduction and Open Forum Setup (00:00:00)

2. Short-Term Rental Grouping Election Strategies (00:04:12)

3. Problem Commercial Property Solutions (00:10:28)

4. Buy, Borrow, Die Strategy Analysis (00:22:41)

5. BOI Reporting Requirements Update (00:30:46)

6. Family LLC and Board Meetings (00:34:10)

7. Land Trust vs LLC Privacy Structures (00:41:01)

8. New Business Structure Considerations (00:49:15)

#569 Tax Lawyer QnA: Strategies The Rich Use to Avoid Paying Taxes

Chapters

1. Introduction and Open Forum Setup (00:00:00)

2. Short-Term Rental Grouping Election Strategies (00:04:12)

3. Problem Commercial Property Solutions (00:10:28)

4. Buy, Borrow, Die Strategy Analysis (00:22:41)

5. BOI Reporting Requirements Update (00:30:46)

6. Family LLC and Board Meetings (00:34:10)

7. Land Trust vs LLC Privacy Structures (00:41:01)

8. New Business Structure Considerations (00:49:15)

Podcasts Worth a Listen

Welcome to Player FM!

Similar to Main Street Business

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#569 Tax Lawyer QnA: Strategies The Rich Use to Avoid Paying Taxes