Small Business Tax and Law Advice from America’s Small Business CPA and Attorney Mark Kohler

Show Notes

Learn the importance of setting up the legal and accounting aspects of your business to be correct from the very beginning with small business CPA and lawyer Mark Kohler.

Small Business Tax and Law Advice From America’s small business CPA and Attorney Mark Kohler 

  1. Mark J Kohler – https://markjkohler.com/
    1. Mark J. Kohler, M.Pr.A., C.P.A., J.D., is a best-selling author; national speaker; radio show host; writer and video personality for Entrepreneur.com; real estate investor; senior partner in the law firm, Kyler, Kohler, Ostermiller & Sorensen, and the accounting firm of Kohler & Eyre, CPAs.

Segment 2 –  Small Business Tax and Law Advice From America’s small business CPA and Attorney Mark Kohler – Part 2

  1. Check out Mark’s radio show at the follow URL
    1. https://markjkohler.com/radio-show/
    2. The Refresh Your Wealth Radio Show
      1. Mark and Mat have been serving clients nationwide for over 10 years from their law and accounting firms, and are dedicated to helping people better live the American Dream. Both are best-selling authors, nationally syndicated speakers, and have been featured in publications such as Entrepreneur, MSNBC, & the Wall Street Journal just to name a few. With their years of experience and knowledge, small business owners and entrepreneurs are sure to receive solid advice to help save money in the tax and legal area with this show!
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Audio Transcription

Live from the center of the universe, presenting the world’s only small business coach school without the bs, with optometrist at entrepreneur, dr. Robert zoellner, and he ussba entrepreneur of the year clay clark get ready to enter the thrive time show on talk. Radio 1170 conversation is the thrivetime show on your radio and podcast download. Today, I am so excited because we are joined with a cpa and an attorney. It’s almost like having a unicorn unicorn he’s on the show today he’s america small business tax lawyer, it’s mark, j cole, your mark. How are you my friend, I’m good, and thank you so much for that reference I’ve got to like unicorn running around trying to help small business owners. I love it interview about some areas that you are passionate about, and we have so many small business owners that tune into this podcast and this radio show for practical advice. Super moves that they can use and one of the things things that you’re passionate about is making sure that entrepreneurs set up a good foundation with which to grow their empire in it have to get their taxes and their accounting in order their legal aspects of their business and ordered it’s kind of like the rebar that goes into the concrete of the foundation. You’ve got to get your legal aspects of your business and the accounting aspects of your business done properly from the beginning, because it’s not that he’ll diy mindset towards accounting and legal, probably not the way to go. So where, were you see a lot of entreprenuers, getting it wrong from the very beginning? And how can we may be improved? I love? The way you put that is that that foundation is so critical, because a lot of folks, a year or two after starting a business, realize they’re paying way too much in tax and there’s nothing they can do now or they have to restructure their business legally because they didn’t put it together the right way in the first place and it in it. It makes him takes two steps back and sometimes and merchant account banking and accounting, and maybe even their brandon gets jacked up.

So I would say that initial stage of putting together your your business vision and maude don’t cut too many small business coach corners now it would know what that’s it. There’s some fly-by-night self-professed gurus out there that are going to sell over price packages for legal planning they’re going to try to talk you into a nevada or wyoming structure works when it’s far too elaborate for the average small business owner and then on the other extremely have people there, like you, said:diy, do-it-yourself and I’m, just going to click, click, click on a famous website and I’m set up and I’m done balance. You wouldn’t go out to say this I’m going to say this, because I am I I’m, not a guy who is a cpa and I’m, not an attorney but I’m going to say this I have probably run into a thousand or more people at our in-person workshops who formed all of their legal structures on legalzoom.Com and legalzoom.Com, provide some great templates. But you have to know what you’re doing in order to complete the soccer I mean you have to know enough about what you’re doing to finish the operating agreements to finish the dissolution agreements. To finish the non-competes, you can’t just template your way to success. She have to have some understanding of how to act, how the law works and you, as a attorney and cpa, are uniquely qualified to help people with this. But why is it so dangerous to use a major website to get to build york & company, based solely upon templates that you’re getting for very low low toddlers with no advice the attached to it in clay?

It’s because the the dangerous is is you and I are the same way? If we want a certain answer, we can find a website or blog article. That gives us the answer we want and then we think gospel and then we’ll just pull the trigger and do it and the problem is that advice baby for a very specific set of circumstances, but we kind of shoe horn our situation into it, cuz! That’s what we hope it’s going to happen. It’s like it’s too good to be true answer and we just jump on it when we, when we in this is not. You I know your program, how you do a fantastic job. So this is not an infomercial firm. When we set up an interview for clients, including our just one hour, with a real tax lawyer that understand small business coach, they can tailor to your situation and then you’re off and running its, not thousands and thousands of dollars in folks get out there and find that type of legal tax advice so that you just get a little bit of tailoring to your situation. So that again, you start out the gate, with the proper tax plan and legal plant city you’re, not looking over your shoulder nervous because you’re, relying on that website that you thought was going to be to get all into youtube up today with mark j kohler. Collier, the cpa and attorneys america’s small business tax lawyer-and you might be saying you know, i, like what I’m hearing I do, find myself doing the diy, the do-it-yourself approach to both my legal and accounting aspects of my business, but i, don’t know if I want to set up a consultation, yet I’m kind of want to know the guy get to know and be on just a brief conversation. What’s a way for all of our listeners to maybe engage with you or to to learn a little bit more about what we do without scheduling a consultation today.

Thank you so much for throwing that out there and it is kohler, like your faucets. Are your plumbing that so, when you know, when you go to the bathroom, don’t think of mark kohler just take care of business, but that’s last name. Everyone in we want to be your tax & legal source for some simple, affordable information, so my website, mark, j, kohler. Com, like jolly kohler.Com, that’s a great place to get free, atkins free videos on my small business coach youtube channel as well, are all linked there and you can start drinking a little bit of the kool-aid test. It out. Look at some of my tax tips on home office, putting your kids on payroll right now, if your cell phone, a hundred percent right in off that apple watch and what are you doing with your auto in the new rules in 2018 under the tax bill for the flow through deductions? Oh my gosh, don’t get me started! Cuz, i, love this stuff, and in this is where, with my weekly newsletter, it’s free on my side every week you just get a tip or two and it’s a little deadline notice, and that way you can be bouncing off my ideas, people against some of the things you’re hearing, because there’s a lot of misinformation out there. Here’s one example of something that I’ve heard you talk about on your podcast. That I think that would blow the minds of it. Wasn’t just a little test:the death star, the mark, j kohler, like the bathroom bathroom death, star, star wars, where they get started. Definitely fire off laser shots. We get it didn’t look like it was completed. Yet here’s just a little sneak peek. This year our government gave a lot of lower the corporate tax rate. Significantly did tax cut significantly. However, a lot of our listeners were used to do in that little vacation. What you do is your right off the entertainment expenses right off the trolley right off the travel and entertainment.

You say:i got a big dog client I want to woo I want a while this person I want to take them to las vegas viva, las, vegas you’re, taking to las vegas, because you’re going to write off entire concert, you’re going to ride off the the airfare you’re going to write off the hotel, because you’re used to taking a 50% deduction, because that my friend is what you’re used to doing in you know:there’s tax cuts, which means the taxes went down. But then oh no, your ears, mr. Negative, a guy actually knowing the facts. Mark j kohler like the bathroom, but not like the bathroom. How can you write off entertainment? Can you write off travel how’s? It changed you got in. There are some good and some bad and there’s some, but here’s the takeaways that are very, very important business and you’re, going to take some clients out there you’re going to take your annual trip to your annual meeting, whether it’s vegas or even just out to dinner at ruth chris and that nice steak dinner. The point is: entertainment is now excluded as a write-off. It is no longer allowed and now explain meals here in 2 seconds, the football game, that’s called the spa. All of that is no longer a write-off and I mean just talking politically here. What’s interesting is when the tax legislation went through in the gop was negotiating. Remember people where the government give us the government take it away and they had to make this balance under a certain cap, and so when they went to the irs and said hey, if we can make a little money here, so we can give this tax break and tax cut these other things.

What would you like to see? Go away and the irs said number one:we are sick of entertainment, people abused it, and so you got it was the sacrificial lamb in this deal, and so is business owners were going to see some perks in other areas and we can even talk about meals and how that’s affected, but entertainment is no longer right us. This is something that, for the people out there that maybe aren’t super into politics. I want to make sure you hear another example to know mark j, kohler voices, maybe due to our program he might be a regular, have them back on from time to time. But this is something just give me. Example:you’re not big into politics. Think about this. Those of you who are on the right of the aisle you’re excited you get your wall. You heard about small business coach program. I have a wall around my property. We have a lot on our country. This is exciting. For some of you, someone you on the left side, that’s terrible. I cannot believe they’re building a wall. What the world either way guess how many people now get to become sore american citizens for free as part of the wall deal? There’s always the government give it they take it there’s always negotiation going on, but one thing that, regardless of the politics involved, you can think about this back in 1862, abraham, lincoln, president, abraham, lincoln, the first withheld taxes for the purposes of financing the civil war, the first time we withheld income taxes, will it 1872 tax withholding was abolished, income tax, withholding was abolished. Who said you know what? Now that we got that award taken care of that nasty, war we’re done with income tax income tax became permanent, I didn’t feel very good. At 1917 they decided to change their laws again. 1935, the social security taxes were withheld by employee word, withheld by employer. So now social security start taking that money out of your check because they felt like a lot of us, weren’t responsible enough to save for retirement and the statistics show.

Unfortunately, a lot of people are not show me where this system gets more and more complicated year after year year after year, year after year, but one principle remains true and that is if you’re a small business owner, you can benefit from the tax write-offs, but you can’t benefit if you’re, not in the game. If you’re, not self-employed, you can’t enjoy some of those write-offs and you need a guy like mark j kohler, to tell you what you can write off and what you can. But if you’re, not a self-employed person, you really can’t get in the game of utilizing any of those write-offs that remain true throughout a complicated tax system. So why are you so passionate be on the tax write-offs that every single one of your small business coach listeners becomes a small business owner self-employed in some capacity and end love your summer, they’re so powerful? And it’s it’s a great country living, but there’s a cost and we got to pay for that wonderful ride that we get to enjoy every day and the small business opportunity. What’s funny, clay’s people say to me when it’s too risky to start a small business. Are you kidding me? Why not create a little extra cash flow on the side? Reason number one that can generate a little extra money on the side number to find something you enjoy doing and dre some income doing it you over 50% of americans, according to department of labor and statistics survey, this last year, have now discovered that 50% of americans hate their jobs. So why not start something on the side that you actually are passionate about and then number 3? Why not build some sort of equity or value that can help supplement the retirement? I know some of you listening or young you’re a clay? It’s like it’s so fun to watch and listen to and passionate and in some of your listeners that are millennials or even under age. 40 think about this time is going to come when you need to have something in the bank account.

So if you’re, not working 60 hours a week, stay tuned more with mark j kohler, when we return to the drivetime show on your radio can do which I know you can too, but you must stick to it like posted two and one morgan’s on the chorus singing what he sings. As you two three big dreams today is your day and now is you up to attend the world’s best business workshop led by america’s number one business coach for free by subscribing on itunes and leaving us an objective review? Claim your tickets by emailing is proof that you did it and your contact information to android, drivetime, show.Com, alright, tribe, nation, welcome back to another exciting condition of the drive time show on your radio and podcast download. Today. We have a unique, unique opportunity to interview a guy by the name of mark j kohler. This guy is a unicorn that he is a cpa, a certified public accountant and an attorney he’s got respect that because it’s also a good interviewee is it’s at ritz the trifecta. Usually, if you interview a guy who is an accountant outside of paul hood right, this is tiffany how the interview goes into small business coach account and tell you she wouldn’t say:dear you say:mister cpi, mr. Account I have a question about xyz. They would take out now. Basically, what you’re supposed to birthday told her glasses down at the end of their nose there to look at you look sickly. What what it is. Yes I would like to look at accounting, the more of like the way I would look at the periodic table. Yes, either is californium and there’s uranium and each one of those as you meat, company, dude i, don’t know what anything I don’t know. California myself, i, don’t know about uranium I’m not really into the whole periodic table. But this guy speaks the language of small business owners right shut up, I’m excited yeah. It was good. It was good stuff. I’m I’m excited for listening to hear this chap. Are you excited? I am sincere as excited as I am or america’s small business tax.

It’s going to come faster than you think, and why not have a small business, a piece of real estate, something that helps up some of the supplements that and that’s what keeps me going if you were listening to the show and you distrust mark j kohler are featured guess what we need to work through some things here. We’ll kind of work through a trust as trust is really what it’s all about. So he has an absolutely free newsletter that you can subscribe on. His website will give you the information in just a moment, but he threw out a statistic from the united states government and I know. We have some of our listeners that are really into black helicopters. Conspiracy theories, I get it will forbes, which last time I checked, is not owned by the united states government forbes hip center publication, forbes says 70% of employees according to forbes hate their job. Oh. My word, I hate is a strong word. You mean like the small business coach guys who pole people for a actions and pull people for society to figure out national trends. Yes, gallup shows that 50.8% of employees are not engaged at work, which means they’re just sort of not mentally there. So if you’re listening to show today-and you want to become self-employed, the number one and number two barriers I think that most people have I see it all the time they come to my conferences. I meet these people who are now self-employed, who used to be an employee. They will say the biggest scare I had was setting up my legal aspects of my business correctly for the beginning and I really was scared about accounting, so I kind of want to leave our listeners with with this capstone thought and I want to ask you, if somebody’s afraid of setting up the foundational legal aspects of their business or doing their small business accounting or maybe they are in business and they’re, doing it all wrong for doing that.

Diy, accounting or legal weather really just kind of making it up as they go their duct taping their way to success. What advice would you give him and how can I learn more from you? What kind of resources do you have available for the number? One answer to that concern is knowledge to spell sphere not taking action for the sake of taking action can actually increase your fear level people in so, if you can just gather some knowledge i, just a little specific to this topic, attacks and legal and have it maybe taylor to your situation in best, a few hundred bucks to have a licensed professional actually apply tax on legal principles to your situation, you’re going to be so for their forehead and a licensed professional also has malpractice insurance in and your situation. So you can start by just tapping into a little bit of the weekly information we just spent on her newsletter. March 8th color.Com by my side, I have an ebook of the top 10 small business coach mistakes. Small business owners make a weekly newsletter with tax tips, guidelines blogs, videos that you can start just digesting folks and that knowledge will help dispense with abby is going to give you action items that could be applied to your situation that are going to help guide you and better living american dream. There you go man m, a r k, j, mark, j, kohler k, o h, l e r. Comets, mark, jayco.Com, kohler. Com has been featured on msnbc. That seems a little liberal to me. Buddy,, it seems pretty writing center to me, he’s been on the wall street journal berry right-of-center!

Isn’t that kind of the middle i? Don’t know it seems kind of british to me. He’s been featured on things to the right of the center he’s a very objective expert. He is a cpa he’s, an attorney he’s america small business tax lawyer and it could be doing anything in the world right now, but he’s chosen to invest us half hour of power with you, the thrive nation, so at the very least, check out mark, j kohler. Com mark. Thank you for being on today show. Thanks for having me keep up the good work, you’re saving, america, alright, will eric chop. That was our interview with mark j kohler there well for me, but if you share your wealth and if you are looking for a unicorn combination, I would highly recommend you check out. His podcast is unicorn combination of both cpa knowledge and he has andy is an attorney, tells got a book here to the 10 best tax saving secrets. Everyone should know news for enhancing the efficiency of your life and business, and specifically next two segments wouldn’t talk about schedule. Recurring weekly meetings for group interviews, teen, everybody 14 super moves, so we come back from the break dr. Zoellner’s going to be joining us talking about the 14 super that you can use to enhance the efficiency of your life and your business.

So if you talk to yourself, you know what I feel very busy i, don’t recall, not doing anything, yes or yesterday-i, don’t recall not doing anything yesterday, but yet somehow the last 24 hours of operation in the 24 hours before that evaporated in the 24 hours before that disappeared. If you find yourself being very busy and not enough time for yourself for your faith, your family, if your finances for your friendship, your feet and your phone you’re, definitely going to want to stay tuned and we have the tramp the return of dr. Zoellner eye every day. You look I mean you look really good. I got shining. Is there a good pokemon, shiny 32? What are the peanut, peanut peanut brand combination, his ingredients, his recipe for hummus hummus and how he gets his skin? Looking that good without sandblasting his boss, professionally, with a commercial grade sand blaster, don’t cut, try to consume the small business coach mountaintop. Now I can conclude that you have what it takes. If you want you to success, you will today is your daddy and now

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