In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down tax-saving strategies for RV owners in 2025! Whether you're a weekend warrior or a full-time traveler, learn how to turn your RV into a business asset, claim deductions, and keep more money in your pocket. 

Here are some of the highlights:

• Mark and Mat provide statistics on RV ownership, noting that 13% of US households own a recreational vehicle and 43 million Americans regularly go RVing.
• Mat discusses the concept of full-time RVers and the opportunities for work campers in RV parks.
• Mark explains the financial benefits of not selling one's home but renting it out as an Airbnb to cover RV expenses.
• How full-time RVers cannot write off their RV as a home but can write off a portion if it is used as a home office.
• Part-time RV owners should determine how many days a year they will use the RV and consider its potential business use.
• Mark points out that if an RV is 100% available for rent, it can be written off as a business asset.
• Mat highlights the flexibility of using an RV for both personal and business purposes, making it a versatile asset.
• The possibility of writing off mileage for business use when moving the RV for work.

• 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!

In this episode of the Main Street Business Podcast, Mark J. Kohler sits down with music industry icon Wendy Starland to talk about the dark side of streaming services. Learn why & how artists are being shortchanged and how her new platform, Music Soul, is creating a fairer, brand-integrated ecosystem for musicians, fans, and businesses alike.

Here are some of the highlights:

• Mark J. Kohler underlines the distinction between creating art and running a business, introducing Wendy Starland as a guest who has helped many artists, including Lady Gaga, launch their careers.
• Wendy Starland talks about her topic at the World Economic Forum, focusing on the exploitation of musicians and the need to change the industry dynamics.
• Mark and Wendy discuss the misconception that artists make significant money from music streaming, with Wendy explaining that artists earn less than $45,000 for a billion streams.
• Wendy explains the challenges artists face, including the competition within record labels and the lack of financial support for many artists.
• The challenges of monetizing free music, with Wendy explaining how artists have had to adapt to the new streaming model.
• Wendy introduces Music Soul, a new music streaming platform and marketplace designed to support artists and brands.
• How the platform aims to create an ecosystem where artists retain 70% of streaming and advertising revenue, significantly higher than current streaming platforms.
• Music Soul will offer various features, including streaming music, buying merchandise, attending concerts, and engaging with brands and charities.

Learn more about Wendy Starland here! - https://www.wendystarland.com

• 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!

In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen explain FinCEN’s BOI requirement and what it means for LLCs and corporations. With compliance deadlines approaching fast, they provide expert guidance on how to file properly and avoid costly fines.

Here are some of the highlights:

• Mark and Mat discuss the recent developments, including the overturning of a previous injunction and the reinstatement of BOI enforcement by FinCEN.
• Mat provides the new deadline for filing the BOI in 2025.
• Mat details the information required for the BOI, including the name of the business, tax ID, EIN, and the names and home addresses of owners and those with substantial control.
• Importance of listing all owners, including those who own 25% or more and those with control through trusts or other entities.
• Context of the policy behind the BOI, aiming to prevent money laundering and other illegal activities by requiring transparency in business ownership.
• The process of filing the BOI through the FinCEN website or using their law firm's services, which can help simplify the process.
• Discussion on the exceptions to filing the BOI, including entities with more than 25 employees or $5 million in revenue.
• Mark and Mat strongly urge filing even if the entity has not been active, as non-use does not exempt the requirement.

• 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!

In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen answer your top tax and legal questions. From choosing the right tax advisor (without overpaying for empty credentials) to navigating HSAs, S corp taxation, and solo 401(k) limitations—this episode is packed with practical strategies to keep your business and investments in top shape. Plus, they break down how their Crypto IRA can help you leverage cryptocurrency in your retirement portfolio.

Here are some of the highlights:

• Mark discusses the importance of choosing a good tax advisor and the potential pitfalls of high fees without proper credentials.
• Mat clarifies the difference between an HSA account and an HSA-qualifying insurance plan, emphasizing that the account can be set up anywhere, including with Direct IRA.
• Mark and Mat cover the benefits of self-directing an HSA account, including the ability to invest in various assets like crypto, real estate, and private companies.
• Upcoming changes in 2025 regarding 1099-K forms for payment apps like Cash App and Venmo.
• A workaround involving picking up FICA wages on a Schedule C and ensuring proper documentation on the 1120-S form.
• The challenges of setting up an IRA LLC for buying crypto and recommends using the Crypto IRA product instead.
• The process of transferring funds from a retirement account to a Gemini account for buying and selling crypto.
• Mark and Mat encourage listeners to invest time in finding the right professional team for their business, including accountants and lawyers.

• 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!

In this episode of the Main Street Business Podcast, Mark J. Kohler explains how to successfully transition out of your business while maximizing value. From setting up a seamless family succession plan to making your business more appealing for a third-party sale, he shares practical steps to ensure a smooth and profitable exit. Tune in for expert strategies that will help you plan your next move with confidence!

Here are some of the highlights:

• Mark outlines four strategies that wealthy individuals use when exiting their businesses.
• Emphasizes the importance of deciding who will buy the business, whether it's family or a third party.
• The complexities of family succession, including the need for succession planning and business consultants.
• Introduction to the concept of systemization, developing people, and understanding EBITDA for third-party sales.
• Real-world examples of clients who initially wanted to sell but later decided against it due to the success of their systemized business.
• The potential for staying on with the new buyer for a transition period, which could increase the sale price.
• Mark urges caution when considering elaborate tax structures and emphasizes the need for second and third opinions.
• Mark warns against high-risk, high-cost tax strategies and the potential for IRS audit risks.

• 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!

In this episode of the Main Street Business Podcast, Mark J. Kohler shares the blueprint for tax-efficient business ownership. He explains why smart bookkeeping is key, how to leverage deductions, and when to transition from an LLC to an S corp for optimal tax savings. If you’re tired of overpaying the IRS, this episode is a must-listen!

Here are some of the highlights:

• Mark explains what you take out of your business is not what you are taxed on, using a scenario where a business owner makes $60,000 but is only taxed on $50,000 due to write-offs.
• The evolution of a small business from a sole proprietorship to an LLC, and then to an S corporation once the business starts making significant income.
• Mark discusses the concept of having two sets of books: one for tracking income and expenses through the business account, and another for adding other expenses that may not have gone through the main account.
• The concept of phantom income, where business owners reinvest money back into the business and are still taxed on that amount.
• Strategies for minimizing phantom income, such as taking a portion of the reinvested money and depositing it with the IRS to cover expected taxes.
• How most small businesses should avoid the C corporation structure and stick with pass-through entities like LLCs or S corporations.
• The importance of tracking every expense related to the business, as these expenses can be significant tax write-offs.
• Mark advises business owners to involve family members in the business to take advantage of write-offs for supporting family financially.

• 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!

In this episode of the Main Street Business Podcast, Mark J. Kohler uncovers the secret to saving big on taxes and strengthening your business—the family board meeting. Discover how to legally write off travel, meals, and payments to family members, while staying compliant and building financial security. Mark breaks down the process step by step, making it easy for any small business owner to implement.

Here are some of the highlights:

• Mark explains why every small business should hold a family board meeting and how it can unlock valuable tax deductions while enhancing business legitimacy.
• Discussion on how travel, dining, and other expenses related to board meetings can be legally written off, reducing taxable income.
• Mark covers the importance of maintaining proper documentation, such as meeting minutes and corporate records, to ensure compliance and asset protection.
• The process of selecting board members, including family and friends, to provide valuable advice while benefiting from tax write-offs.
• Explanation of how to structure family board meetings with clear agendas and actionable discussions to improve business planning.
• Mark outlines the tax benefits of compensating family members for their participation in board meetings and how it can serve as a wealth-building strategy.
• The significance of holding board meetings at least once a year to stay compliant, with suggestions on how to schedule additional meetings for greater tax advantages.
• How having a properly structured family board meeting can help business owners align their financial goals with their long-term vision and legacy planning.

• 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!

In this episode of the Main Street Business Podcast, Mark J. Kohler shares expert tax and legal strategies designed for life coaches who want to build a thriving business. Discover why starting with an LLC is crucial, how to track expenses effectively, and smart ways to involve your family for tax benefits. With actionable insights and real-world advice, Mark helps life coaches take control of their finances and set the foundation for long-term success.

Here are some of the highlights:

• Mark emphasizes the importance of mindset, stating that being a life coach is a business and should be treated as such.
• Encourages life coaches to think of their business as a gateway to the American dream, offering tax write-offs and financial benefits.
• Advises life coaches to be cautious about where they get their tax and legal information, stressing the importance of credible sources.
• Mark strongly urges tracking expenses from the beginning, even before making the first dollar, using tools like Excel or QuickBooks.
• Involve family members in the business to take advantage of tax write-offs for their contributions.
• Tax advantages of an S corporation, including reducing self-employment tax by splitting income into W-2 salary and pass-through income.
• How family members can be put on payroll for tasks like stuffing envelopes, cleaning the office, or helping with business projects.
• Mark encourages life coaches to plan for this transition in advance to avoid future tax burdens.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
• Craving more content? Check out my Instagram!

In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen share powerful insights on why converting your LLC to an S corporation is a game-changer for tax savings. They discuss the crucial tax advantages, the importance of structuring income properly, and walk you through the filing process. Find out how you could potentially save $7,000 or more with this strategic business move.

Here are some of the highlights:

• Mark emphasizes how LLCs do not save taxes and explains the process of turning an LLC into an S corp.
• Discussion on the difference in tax rates between LLCs and S corps, with S corps allowing for lower self-employment tax.
• Mat and Mark cover the importance of allocating income to FICA wages and the potential savings.
• Mark outlines the three-step process for making a late S corporation election, including filling out form 2553 and referencing revenue procedure 2013-30.
• Mark explains the workaround for the first year, including claiming compensation on both the 1120s and Schedule C.
• The benefits of the S corporation strategy for business owners and the potential annual savings.
• Need for proper health insurance premium write-offs and the overall benefits of the S corporation strategy.
• Why S Corps should avoid taking the Qualified Business Income (QBI) deduction when filing taxes.

• 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!

In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen explain how to create a comprehensive, actionable plan for the year ahead. They discuss the value of aligning your goals with a long-term vision and offer tips for making measurable progress while staying flexible enough to adapt as needed.

Here are some of the highlights:

• Mark and Mat emphasizes the importance of having a strategic plan that can lay the foundation for the next 10 years ahead.
• Mat discusses the need for setting realistic goals and breaking them down into manageable objectives.
• Mark explains and breaks down the concept of SMART goals: Specific, Measurable, Attainable, Relevant, and Time-bound.
• Real-world example of how to set objectives for increasing sales, including strategies like getting more leads and converting leads better.
• How to address personal issues that may be affecting business performance, such as health or family problems.
• Mat suggests involving the leadership team in the execution of the strategic plan to ensure buy-in and accountability.
• Mark advises writing down the strategic plan and carrying it around to review regularly.

• 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!