#428 Tax And Legal Strategies For Mom

from Main Street Business · host Mark J Kohler and Mat Sorensen

On this weeks Episode of the Main Street business podcast, Matt Sorenson and Mark J. Kohler discuss various tax and legal strategies related to moms and their involvement in businesses. They suggest putting moms on the board of directors or advisors for LLCs or corporations, which can have tax perks. They also discuss tax strategies such as deducting travel expenses when visiting mom, paying mom for her services and having her open a Roth IRA, and buying mom's house and renting it back to her. They highlight the importance of seeking good tax advice and acknowledge that these strategies may not be suitable for everyone. The hosts also emphasize the value of seeking advice from parents and the life experience they can bring to business decisions.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/markjkohlerCraving more content? Check out my Instagram!

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This episode is 25 minutes long.

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This episode was published on May 12, 2023.

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