#538 The 4 Best Tax-Write Offs NO ONE Talks About... w/ Karlton Dennis

Main Street Business

Вміст надано Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.

2d ago 32:37

MP3•Головна епізоду

In this episode of the Main Street Business Podcast, host Mark J. Kohler is joined by Karlton Dennis to share essential tax-saving strategies before the year ends. They explain how transitioning from an LLC to an S corporation reduces self-employment taxes and how you can benefit from bonus depreciation. They also cover creative ways to involve your kids in payroll, plus insights on using solo 401(k)s and Health Savings Accounts to maximize deductions.

Here are some of the highlights:

Mark and Karlton discuss their roles as tax strategists focused on saving money.
The concept of self-employment tax, which includes Social Security and Medicare contributions.
How self-directed accounts can be used to invest in rental real estate and other business assets.
Mark and Karlton discuss the benefits of switching from an LLC to an S corporation using Form 2553.
Mark encourages listeners to backdate the S corporation election to January 1, 2023, to avoid self-employment taxes for the year.
How to properly place children on payroll to reduce taxes and provide financial education.
Importance of setting up retirement accounts before the end of the year to maximize tax benefits.
Karlton introduces the Tax Free Wealth Challenge, a five-day event focused on tax strategies.

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Розділи

1. Year-End Tax Strategies for Self-Employed (00:00:00)

2. Year-End Tax Strategies for Business Owners (00:09:29)

3. Year-End Tax Planning Strategies (00:14:39)

4. Year-Round Retirement and Tax Strategies (00:24:42)

5. Tax Saving Strategies and Motivation (00:31:37)

653 епізодів

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