Main Street Business

Buying a new truck or piece of equipment before December 31 can feel like the ultimate year-end tax hack, but this episode breaks down why that decision can either save you thousands or create a painful tax bill you never saw coming. Mark J. Kohler and Mat Sorensen walk through the real math behind deductions, bonus depreciation, basis, and business-use percentages so you don’t fall into the traps many business owners hit when rushing into a purchase for the write-off. If you’ve ever wondered whether you should buy now, wait, or skip the purchase altogether, this conversation gives you the clarity you need.You’ll learn how tax brackets, depreciation schedules, and financing choices impact your allowable deduction, why bonus depreciation isn’t always the smartest move, and how S-corp basis affects whether you can deduct anything at all. The guys also explain year-end timing strategies, the time value of money, and how to prioritize deductions that actually move the needle—while avoiding the mindset of treating tax planning like a last-minute school assignment.If you want to make smart year-end decisions, hit like and subscribe for more practical tax and wealth-building strategies. Have a question about your specific situation? Drop it in the comments! And if you’re considering a major purchase before December 31, watch this episode before heading to the dealership or equipment lot.You’ll learn:How to avoid the biggest year-end tax mistakes business owners make when rushing to buy equipment or a new truckWhy “just because you can doesn’t mean you should” is the most important rule in year-end tax planningThe difference between a tax deduction and a tax credit, and why confusing the two leads to expensive decisionsHow to calculate whether a year-end equipment purchase actually saves you money after factoring in your tax bracketWhy business-use percentage determines whether your vehicle deduction is $100,000 or $30,000Why 100% bonus depreciation can become a trap if you finance equipment without having basis in your S corporationWhy contractors, doctors, and other high-income earners should not automatically take bonus depreciation in one yearGet a comprehensive tax consultation with one of our Main Street tax lawyers that can build a tax strategy plan with an affordable consultation that will leave you speechless!! Here’s the link - https://kkoslawyers.com/services/comprehensive-bus-tax-consult/?utm_source=buzzsprout&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp604-year-end-equipment-purchases Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't want to miss this! Secure your tickets for the #1 Event For Small Business Owners On Main Street America: 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!

These three retirement deadlines before December 31, 2025, could literally double your money overnight, unlock up to $70,000 of Roth contributions, and turn your accounts into a tax-free ATM for your future! In this episode of the Main Street Business Podcast, Mat Sorensen and Mark J. Kohler break down powerful, little-known 401(k) and Roth strategies that most employees and small business owners are completely missing.You’ll learn how to “match & out” your workplace 401(k) so you don’t leave free employer money on the table, how the Mega Backdoor Roth works using after-tax contributions inside your 401(k), and why high earners and oil rig workers were among the first to exploit it. The guys also cover critical year-end deadlines for setting up a solo 401(k), how to snag valuable small business tax credits, and smart ways to structure Roth conversions so you don’t accidentally bump yourself into a much higher tax bracket. They even touch on using your kids’ earned income to fund their own Roth IRAs and create generational tax-free wealth.If you want to keep more of what you make, grow your retirement accounts faster, and stop relying on Wall Street or your employer to “save” you, this episode is your year-end checklist.Listen to the end, then hit subscribe for more tax and wealth-building strategies, drop your questions in the comments, and share this with a friend or family member who needs to take control of their retirement before the year is over!You’ll learn:How to avoid missing the three major retirement account deadlines coming up before December 31, 2025Why doing a “match & out” on your employer 401(k) can instantly increase your contributions using free employer fundsHow the Mega Backdoor Roth works inside a 401(k) and why it allows up to $70,000 in Roth contributionsWhy high-income earners, including oil rig workers, were early adopters of after-tax 401(k) strategiesThe exact deadlines and setup requirements for opening and funding a Solo 401(k) for small business ownersHow to use Roth conversions strategically without accidentally jumping into a higher tax bracketHow to use earned income for your children to fund their own Roth IRAs and create long-term tax-free wealthGet a comprehensive tax consultation with one of our Main Street tax lawyers that can build a tax strategy plan with an affordable consultation that will leave you speechless!! Here’s the link - https://kkoslawyers.com/services/comprehensive-bus-tax-consult/?utm_source=buzzsprout&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp603-3-year-end-deadlines Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't want to miss this! Secure your tickets for the #1 Event For Small Business Owners On Main Street America: 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!

Are you missing out on one of the easiest 100 percent deductions available to business owners? In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down exactly how to structure a holiday party or company event so it becomes a fully deductible business expense. From the IRS rules under Section 274 to real examples of what qualifies, you’ll learn how to turn food, entertainment, awards, and even venue costs into a legitimate write-off.Unlike generic tax tips online, this discussion dives into real-world application for small business owners — whether you have a growing team, a handful of employees, or a small staff running from your home office. Mark and Mat explain the three requirements every event must meet, the difference between 50 percent and 100 percent deductions, why culture and team-building matter for tax purposes, and the exact documentation you need to protect the deduction. They also walk through case law, common mistakes, and creative strategies like using the Augusta rule when hosting at your home.Whether you’re planning a Christmas party, a summer barbecue, a team-building event, or an employee appreciation night, this episode will help you use the tax code to your advantage while still creating an event your team will love. By the end, you’ll know how to design an effective, compliant, and fully deductible company party that strengthens your culture and saves you money.You’ll learn:How to structure a company holiday party or event so it qualifies for a full 100 percent tax deductionThe three IRS requirements under Section 274 that determine whether meals and entertainment are fully deductibleReal examples of deductible events, including award lunches, themed parties, off-site gatherings, and interactive team activitiesHow to document business purpose properly and protect your deduction if the IRS ever asks for proofCreative strategies like using the Augusta rule when hosting at your home to increase deductions legallyCommon mistakes business owners make when planning events — and how to avoid losing the write-offHow to maximize tax benefits while still creating a memorable, effective event your team actually enjoysGet a comprehensive tax consultation with one of our Main Street tax lawyers that can build a tax strategy plan with an affordable consultation that will leave you speechless!! Here’s the link - https://kkoslawyers.com/services/comprehensive-bus-tax-consult/?utm_source=buzzsprout&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp602-write-off-holiday-party Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't want to miss this! Secure your tickets for the #1 Event For Small Business Owners On Main Street America: 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!

Are you missing out on some of the most powerful year-end tax strategies available to small business owners and entrepreneurs? In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down 20 actionable moves you can still make before December 31 to save thousands on taxes and set yourself up for long-term financial success. From retroactive S-corp elections to HSAs, Solo 401(k)s, and smart income timing, this episode is your complete year-end playbook.Unlike generic tax tips you’ll find online, these strategies are tailored for real entrepreneurs — whether you’re running an LLC, managing rentals, or building your side hustle. Mark and Mat explain how to pay your kids the right way, leverage 100% bonus depreciation on vehicles and equipment, and take advantage of HRAs, Roth conversions, self-rental rules, and tax-loss harvesting before the clock runs out. They also share which moves are still possible after year-end and which deadlines you can’t afford to miss.Whether you’re just getting started or already running a profitable business, this episode will help you keep more of what you earn and make smarter tax decisions for 2025. By the end, you’ll know exactly how to finish the year strong — and start the next one with a strategy that builds wealth, not stress.If you’re serious about saving money, staying compliant, and maximizing every deduction possible, this is an episode you can’t afford to skip!How to implement 20 year-end tax strategies that help business owners, investors, and the self-employed keep more of their moneyHow to use S corporation elections, payroll planning, and paying your children legally to reduce self-employment taxWhy HSAs, HRAs, and Solo 401(k)s are some of the most powerful tools for deductible medical and retirement planningHow to unlock startup deductions with a first sale and maximize write-offs through year-end equipment and vehicle purchasesSmart ways to shift income and expenses between tax years to optimize your tax bracketHow Roth conversions, rental real estate strategies, and the self-rental rule build long-term tax-efficient wealthWhy scheduling a personalized tax review ensures that these strategies are actually implemented before December 31Get a comprehensive tax consultation with one of our Main Street tax lawyers that can build a tax strategy plan with an affordable consultation that will leave you speechless!! Here’s the link - https://kkoslawyers.com/services/comprehensive-bus-tax-consult/?utm_source=buzzsprout&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't want to miss this! Secure your tickets for the #1 Event For Small Business Owners On Main Street America: 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!

conversation with bestselling author and negotiation expert Rebecca Zung and attorney Mark J. Kohler. We break down what to do first, what to avoid, and how to protect your future — without playing dirty.You’ll learn the five main areas courts consider in family law cases—property division, spousal support, custody and parenting decisions, child support, and attorney’s fees—and how each one affects the next. We cover business valuation timing, enterprise vs. personal goodwill, forensic accounting, lifestyle analysis, and “sudden income deficiency syndrome.” Plus, Rebecca explains her SLAY framework (Strategy, Leverage, Anticipate, You) for negotiating with narcissists and staying out of emotional sabotage.If this helped, subscribe for weekly legal and tax strategy insights, drop your questions in the comments, and share with a friend who needs it.You’ll learn:How to prepare financially before filing for divorce — and the first critical steps to protect your assets and credibilityThe five main areas every family law case covers: property division, spousal support, custody and parenting decisions, child support, and attorney’s feesHow and when to value a business during divorce, including the difference between enterprise and personal goodwillWhy forensic accounting, lifestyle analysis, and “sudden income deficiency syndrome” can make or break your caseSmart strategies for both the moneyed and non-moneyed spouse to stay financially stable during proceedingsHow Rebecca Zung’s SLAY framework (Strategy, Leverage, Anticipate, You) helps you negotiate with a narcissist and avoid emotional trapsGet a comprehensive tax consultation with one of our Main Street tax lawyers that can build a tax strategy plan with an affordable consultation that will leave you speechless!! Here’s the link - https://kkoslawyers.com/services/comprehensive-bus-tax-consult/?utm_source=buzzsprout&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp600-rebecca-zung-interview  Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't want to miss this! Secure your tickets for the #1 Event For Small Business Owners On Main Street America: 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!