#577 Which LLC is Right for Your Business
from Main Street Business Hosted by Mark J Kohler and Mat Sorensen
In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen take a deep dive into the six LLC structures every entrepreneur, investor, and licensed professional should understand. Whether you're starting a business, protecting rental properties, or building wealth with a high-net-worth strategy, this episode breaks down how to choose and use the right LLC to match your goals. Here are some of the highlights: Mark and Mat discuss the six types of LLCs, starting with the most common type for rental properties. Mat explains the benefits of a single-member LLC for asset protection and the flow-through of taxes on personal returns. The importance of setting up LLCs early for protection and the potential need for multiple LLCs for multiple properties. Mat breaks down the tax savings from avoiding self-employment taxes and the importance of taking a reasonable salary. Mark and Mat highlight the advanced planning and asset protection strategies associated with COPE LLCs. Mark and Mat introduce the series LLC, which allows for separate liability treatment for multiple properties. How separating different types of LLCs for asset protection and tax planning is crucial. Ready to Take the Next Step? Work With Mat & Mark’s Law Firm Get 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 Retirement Want 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 Resources Mat Sorensen’s Optimal Order of Investing Guide Learn 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 Guide Discover practical tax strategies and planning opportunities every business owner and investor should know. [Download the Free Guide] Get More From Mat & Mark Watch on YouTube Tax strategies, business planning, investing, asset protection, and more. [Visit the YouTube Channel...
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What this episode covers
In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen take a deep dive into the six LLC structures every entrepreneur, investor, and licensed professional should understand. Whether you're starting a business, protecting rental properties, or building wealth with a high-net-worth strategy, this episode breaks down how to choose and use the right LLC to match your goals. Here are some of the highlights: Mark and Mat discuss the six types of LLCs, starting with th...
Chapters
- 0:00 Introduction to Main Street Business Podcast
- 1:08 Type One: Rental Property LLCs
- 8:30 Type Two: Small Business LLCs
- 13:18 Type Three: LLCs Taxed as S-Corps
- 20:30 Type Four: Multi-Member Partnership LLCs
- 24:21 Type Five: Series LLCs
- 27:00 Type Six: COPE LLCs for Asset Protection
- 32:21 Bonus Types: IRA LLCs and PLLCs
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