#552 Tax Lawyer Q&A: Secrets To Saving Thousands In Taxes...

In this episode of the Main Street Business Podcast Mark J. Kohler and Mat Sorensen host another open forum and break down key retirement planning strategies, including the mega backdoor Roth IRA, and discuss the benefits and pitfalls of partnership structures. They also explore the potential implications of the Corporate Transparency Act following its recent unconstitutional ruling, with actionable tips for trust management and entity cleanup.Here are some of the highlights:Mark and Mat clarify the difference between mega Roth 401(k) and backdoor Roth IRA.Mark expresses concerns about the partnership structure and the potential for inequitable distribution of responsibilities and benefits.Mat emphasizes the importance of understanding partnership structures to avoid getting a bad deal.Explanation of the backdoor Roth IRA strategy and the pro-rata rule for traditional IRA contributions.How the corporate Transparency Act has been ruled unconstitutional, affecting the BOI reporting requirement.Recent ruling in Texas that the Corporate Transparency Act is unconstitutional.Speculation on the future of the Corporate Transparency Act under the Trump administration.Encourages listeners to review their tax and legal situations for year-end planning.Ready 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...