#531 Tax Advisor Playbook: The Tax Secret To Save Your Clients Thousands

In this episode of the Main Street Business Podcast, host Mark J. Kohler explores tax-smart strategies for hiring family members. Learn about hiring children under age 18 without complex tax forms, managing finances through a Family Management Company, and leveraging tax deductions for adult children’s education and healthcare. Mark also provides insights on creating bank accounts for family members and making strategic real estate investments.Here are some of the highlights:Mark unpacks the benefits of bringing family members and children into the business, including tax savings, teaching kids about work and business.How kids can do legitimate jobs like shredding paper, cleaning, marketing, etcMark maps out and breaks down the different rules for kids who are 18+ and under 18. Use the  'Trifecta' structure: Operations, Assets, Family Management Company.Tax write-off for college tuition by paying kids to manage propertiesPay kids from LLC, Sole Proprietorship, or S Corp via Family Management CompanyHealth insurance strategy: Kids can qualify for own insurance if earning enoughPotential for significant savings on family health insurance premiumsReady to Take the Next Step?Work With Mat & Mark’s Law FirmGet strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.[Book a Call with KKOS Lawyers]Take Control of Your RetirementWant to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.[Learn More About Directed IRA]Free ResourcesMat Sorensen’s Optimal Order of Investing GuideLearn how to prioritize where your money should go and build a smarter investing strategy.[Download the Free Guide]Mark J. Kohler’s 30-Point Tax GuideDiscover practical tax strategies and planning opportunities every business owner and investor should know.[Download the Free Guide]Get More From Mat & MarkWatch on YouTubeTax strategies, business planning, investing, asset protection, and more.[Visit the YouTube Channel...