The Tax & Legal Playbook The Rich Use To Beat The IRS

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Being a Tax Advisor is a lucrative opportunity...Book a FREE demo to become a Main Street Tax Pro today: calendly.com/mark-j-kohler/ma...
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00:01 - Introduction to Business Tax and Legal Guide
02:03 - Importance of Planning for Long-Term Wealth
04:14 - The Trifecta Concept Overview
06:42 - Benefits and Flexibility of the Trifecta
09:31 - Tax Tips for Business Owners
12:49 - Resources and Getting Started
15:31 - Finding the Right Accountant
17:54 - Conclusion and Call to Action

Опубликовано:

10 июн 2024

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Комментарии : 64

@hofstra3254 Месяц назад

I signed up for the tax advisory group and paid $10,000 at the conference two weeks ago I’ve been stood up on both of my on boarding calls to get started in the program. Customer service is terrible. I can’t get a hold of anybody and there has been no support and my first impression when starting to get going has been awful. I’m not sure who’s running things there but if this is what I can expect I’m not gonna be a happy camper

@nicolehubert7308 Месяц назад

You are using his tax advisory group or who are you reviewing right now?

@eddylopez4141 Месяц назад

Yup. They are more than busy right now.

@realjdmh22 Месяц назад

Ohh no thats not good this is why I don't trust these videos on RU-vid and social media it's alot of BS.

@mike2959 25 дней назад

@@hofstra3254 Have you heard anything? If so how has your experience been?

@RickGoncher 14 дней назад

Yes, they're busy helping everyone all at once and at the moment they're just a bit short-staffed. Give it some time. I signed up last November and it is well worth what you paid. I promise you will not be disappointed! You're one of about 100 that joined.

@Dwb.x 22 дня назад

I paid $1400 ish for a briefing call that included them sending me advice in writing. They stood up first one. On the second the call was only 45mins. They said they’d come back with advice. They never have. Know one answers the phone. I’ve sent two emails asking for their follow up. I don’t care how busy they are. I’m a CEO running a global business and they are not busier than me. To not even acknowledge my emails is beyond unprofessional. Don’t use them. They are rubbish. I was forced to look for another firm.

@DenisEstimon-jg5kr 3 дня назад

this video is incredible!

@andrewday7799 9 дней назад

I pay over $100,000 per year in taxes. It's so crazy. If you are financially illiterate (or you dont want to start a business) your tax burden is 40 percent. You have to figure out all these strategies and loopholes or you are basically existing to make money for the government.

@sheeba7846 Месяц назад

If only we didn't have so much bureaucracy and overly complicated tax-codes, we wouldn't need to play these stupid games :(

@blackfashionweekly Месяц назад

I'm in love 😂😂😂 just kidding. Great content...top-tier...the best of the best. Thank you sooo much!

@GlennGoryl Месяц назад

Nobody's scared - just overwhelmed. Thank you for doing this.

@jeffbrewer8810 Месяц назад

You said it! I had a business for twelve years. The first three years were characterized by the entrepreneurial spirit and excitement. The middle six were dedicated to treading water. The final three were trying to figure out how in the world could I escape. Overwhelmed is exactly my experience. So busy keeping up with the “business of the business” I had no time to work ON my business.

@loucinci3922 Месяц назад

Enjoyed the video. Thanks for sharing

@lisaMauer-sj5el Месяц назад

With the guidance of my financial advisor, Monica Mary Strigle (my FA), I retired at 50, three years earlier than planned. Her advice to diversify beyond traditional retirement accounts like 401K and IRA led me to explore rental real estate. As a Limited Partner in a potfolio of 1500+ units, I generated passive income and accumulated wealth. Thanks to Monica expertise and tailored strategies, I now enjoy a fulfilling retirement without traditional employment. Her insights in real estate investment have been invaluable on my path to financial freedom.

@ayayshopping Месяц назад

thank you

@ismaelhall3990 24 дня назад

Thanks.

@Bodybymilk Месяц назад

Hi Mark, could you do a video on what advice you would give for fresh accounting graduates?

@tookus100 Месяц назад

Mark..what tablet..electronic device did you use for your whiteboard..and what was the setup so that you could see it onscreen...Thanks..Richard

@amcreaken Месяц назад

I make good money on my W2 as a healthcare provider. Is there a way to transfer my W2 to an S-Corp to take advantage of all of these tax strategies?

@anyway_anyway Месяц назад

which trust is better? revocable or irrevocable trust dont want to pay alot of taxes and dont want to own anything ..just want toanage it..any info would be appreciated

@lisalyons5381 Месяц назад

Don’t you need or shouldn’t you have a different trust for homes and diff one for education for kids and diff ones for stocks and crypto etc etc? What is the difference between a trust and an LLC ?

@shawnm2405 Месяц назад

So the asset LLC is a holding company. The trust part can be quite complicated and only seem necessary for a personal home or bank account.

@RickGoncher 14 дней назад

Shawn, that's not the point of the RLT. When you put your assets into the trust, they stay in an Irrevocable Trust at your death. Tax-Free Wealth.

@montraygibson9802 Месяц назад

Do you also teach us to invest excess money to lower tax burden? Another financial youtuber I like makes 1.2 million but buys real estate in cash to lower his taxable income to 80k. Would this set up help to do such a thing?

@TedThomson-xd8vk Месяц назад

what if you're buiness is trading under an LLC? could you make a video for traders who change their captical gains tax into regular income?

@BwanaSparks Месяц назад

Do you have an office near San Francisco or Miami where I can speak with someone to create an account with?

@lisalyons5381 Месяц назад

Can you do a video on windfall $$$

@LuisAlfonsoGarciaSegundo Месяц назад

Why don’t you do trifecta in Virginia?

@SutwinHoldings-h5x 5 дней назад

Hello Max, I live in Orlando Florida, I need your services, how can I find a local professional that can help me? You really opened my “eyes”, I’ve been paying taxes left and right like an ignorant. Thank you. Joe

@nguye1971 Месяц назад

Who should own the S corp? Trust vs. Individuals? Thanks

@acarpcreate Месяц назад

On a basic level, a trust gives privacy and separates your name from the entity.

@lanexang8127 Месяц назад

How to pay low taxes when every company have profit

@JanMarieKellyAuthor Месяц назад

So when you're 57 already this video is not for us?! I wish we had access to so much info when I was in my 20's (or even 30's). They need to teach some basics to everyone in high school, but they don't teach anything for life skills, etc - they just teach being a cog in the wheel at public schools.

@BenvolioCapulet9 23 дня назад

Good point - my take now, is to pass the right info on to my kids so they can get the jump I was never apprised of.

@aaroncook5928 21 день назад

Yep, the internet really changed the world... bringing information to peoples finger tips that previous generations simply didn't have. College is pretty much pointless now except for the piece of paper some people/business require. I'm a millennial so I got to experience this transition real time... from rotary/party phone lines to iPhone and internet mayhem. I still feel too old to take advantage of this as I have spent most of my life not having a business; but investigating options.

@TheNextAdventureShow Месяц назад

How do you move your profit from your Operational LLC to your Asset LLC?

@joshuakemper5863 29 дней назад

Your operational earnings are invested into your retirement accounts (subject to limits). Once in those retirement accounts via self direction you can choose how to invest it. Whether it be in stocks, or other assets like other businesses (asset llc). This could potentially grow tax free depending on the sort of retirement account you use.

@quintinmason3723 Месяц назад

quick question if ya have a s-corp if ya buy a business should ya put it in a s-corp because it is active income

@mike2959 Месяц назад

I wouldn’t elect a s corp for real estate. Choosing what kind of entity depends on business. Election of S Corp saves money on t eh self employment taxes that sole prop and LLC have to pay.

@medicarebymike9065 Месяц назад

I'm an llc right now. Can i add an s-corp mid year?

@acarpcreate Месяц назад

Yes, and you can back-date to the beginning of the year.

@martynsharp5936 Месяц назад

So which link do I use to find a CPA?

@MarkJKohler Месяц назад

Hey there, find a Tax Pro here: taxadvisornetwork.markjkohler.com/

@AYLove1 Месяц назад

The trust will have to be depleted within 10 years of the owner’s passing, forcing the heirs to sell off everything in the trust and unwillingly generating huge tax bills.

@AYLove1 Месяц назад

In addition, the trust is generally taxed at a higher rate than personal tax rates which the owner has to pay every year.

@hyvision5919 Месяц назад

Trifeca sounds so diddy

@scentilatingone2148 Месяц назад

How do I get started as a business doing what your doing. Seems fun. Former Civil Engineer

@freewillchoice8052 Месяц назад

He said he’s a CPA and a lawyer so go to law school and CPA school to do what he does…

@MarkJKohler Месяц назад

Hey there! Check out our Main Street Tax Pro Certification program, you can get certified and start your own side hustle helping other people. Learn more and sign up here: markjkohler.com/the-main-street-tax-pro-certification/

@AvatarVirtualPost Месяц назад

Hi I have formed an LLC and I'm using the funds from my BLOC to invest in crypto in my personal crypto wallet accounts How do I Transfer my profits into a ROTH IRA or CRUT What's the ideal set up

@AvatarVirtualPost Месяц назад

Note I've only created an LLC as an avenue to get Funding for my crypto investments through acquisition of business credit cards so no real operation is taking place in my LLC

@AvatarVirtualPost Месяц назад

Should I convert to an s-corp if I made over 100K/year

@mike2959 Месяц назад

@@AvatarVirtualPostIs “made over 100K” in profits? Like everything paid? Or is that gross income for your business? Is that’s gross for your business. Probably not. If it’s net, like your profit yes.

@stewartlogan9894 Месяц назад

While the strategy is legal, it’s a bit disingenuous to avoid paying SS taxes and then exclaim “You can’t count on it!”

@tsdorsey 25 дней назад

SS has been a bucket of IOUs for more than two decades. The promise when it was enacted was that it WOULD NOT tax new people to pay for old people. We were promised that it was a retirement investment account. You would get out what you put in plus investment gains. That promise was broken almost before the ink dried. Then they started raising the age of “retirement” extending the number of years you have to pay and decreasing the number of years they have to pay out. So yeah, we’re gonna do all we can to not pay into what amounts to the largest Ponzi scheme in history.

@mike2959 Месяц назад

Mark is right on the money. Here’s my current setup and timeline. 2017-Opened a small cafe LLC multi with wife. 2019- Cafe LLC “loaned” funds to our holding real estate LLC to purchase the plaza the cafe is in. With 4 other commercial tenants in plaza. All have leases with holding LLC including our cafe. Very important. Purchasing this lowered the tax burden of cafe for that year 2021. Cafe elects to be taxed as a S-Corp. 2022 to current… quit both W2 corp jobs wife and I have had for 20 years. Wife is “on payroll” taking a “reasonable comp” at Cafe. Me. I qualify for real estate professional status as I (on paper, but reality WIFE and I) self manage now 40 rentals. Because of this real estate professional status we are able to use the passive losses to offset wife’s w2 taxes from the cafe. We haven’t done the trust portion yet. Or the property mgmt LLC to do a solo 401K.

@maribelrodriguez9351 Месяц назад

Tks a lot for sharing your experience Mike!

@ArtfulAfrica 16 дней назад

It would be a pleasure to learn. After 10 years of working at the bedside as a Nursing Assistant. Am ready to register my LLC. Please share some tips on registering and where did you register your LLC from.