Year-End Tax Strategies to Save you Thousands

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  • เผยแพร่เมื่อ 20 ธ.ค. 2024
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ความคิดเห็น • 68

  • @wt6771
    @wt6771 3 ปีที่แล้ว +1

    Thanks for the great information. Happy new year!

  • @alliesteam9776
    @alliesteam9776 3 ปีที่แล้ว +1

    Thank you very much! Happy Holidays!

  • @lindajoseph5730
    @lindajoseph5730 3 ปีที่แล้ว

    Pez dispensers in my kids' stockings was a Christmas tradition in our house.

  • @poorinvestor
    @poorinvestor 2 ปีที่แล้ว +1

    Learning so much thank you both!!!! 43:02 that’s me!

  • @TrademarkLawyer
    @TrademarkLawyer 3 ปีที่แล้ว +1

    As always, great info!!

  • @HungNguyen-yo1uo
    @HungNguyen-yo1uo 2 ปีที่แล้ว

    💜💜💜💜💜thank you so much for the informations. God bless you and your family 💜💜💜💜

  • @mandyflory8026
    @mandyflory8026 3 ปีที่แล้ว +9

    😂 This is exactly why I don’t Walmart 😬. I always feel I lost brain cells after the experience

  • @dav5586
    @dav5586 3 ปีที่แล้ว +1

    You guys are awesome! Thank you

  • @eritawerab3204
    @eritawerab3204 3 ปีที่แล้ว +12

    making money and paying high tax is so frustrating here, i am looking for a good investment platform to invest😂

    • @investorwest8735
      @investorwest8735 3 ปีที่แล้ว +6

      Look up madam Vivian Klaine Morgan on online and contact her.You can also make huge profit just as I am doing now, on weekly basis. she is God sent

    • @davidhudson3001
      @davidhudson3001 3 ปีที่แล้ว +1

      Digital Currency market has been favorable in the past weeks, I keep missing out on this opportunity, I’m most certainly very impatient how can I ever make a profit in the crypto market

    • @dr.ervingalen1777
      @dr.ervingalen1777 3 ปีที่แล้ว +4

      I love this, a CNBC news host spoke so highly of the💕 woman Vivian Klaine Morgan and her loss prevention strategies been trying to get to her ever since didn’t know she was so accessible to the public

    • @richardwahl4354
      @richardwahl4354 3 ปีที่แล้ว +2

      i just look her name up and contacted her already💟🙏

  • @rodneyjones3078
    @rodneyjones3078 2 ปีที่แล้ว

    Will a s corp election be needed on the parent (Wyoming/ payroll?) or the child ( Texas/ passive owns royalty property)?

  • @a.whitneyshea7235
    @a.whitneyshea7235 3 ปีที่แล้ว +3

    Hey there, Mark! I had posted a couple of times and spoke to your office yesterday… so you are not accepting new clients?
    I have really enjoyed what you share and think we would really benefit from your mindset. (Active duty military family in for 26 years, small business owner, rent out two of our homes and about to change duty stations and likely buy again- Tucson!- and have a daughter heading to college next year). The representative I spoke with did not have any recommendations for me other than getting on the long waitlist. Advice? TIA and happy holidays!

  • @korbin4
    @korbin4 3 ปีที่แล้ว +1

    When are y'all going to hire more accountants? Been on the waitlist for 6 months and I need to know if I can use you this year or if I should start looking for another accountant

  • @jasonrhody2429
    @jasonrhody2429 3 ปีที่แล้ว +1

    Mark it was the warlock in live free die hard!! 😂 just watched it couple nights ago.

  • @whatthefunction9140
    @whatthefunction9140 3 ปีที่แล้ว +2

    I added 7200 to a fidelity hsa today

  • @MrMaravish26
    @MrMaravish26 3 ปีที่แล้ว +2

    Hi Mark, Let’s say we are an LLC that did over 50k, we submitted our S election to the IRS back in July, but have not received a response yet. They claim their system “backlogged”. What options do we have, if any?

  • @terrafirma9328
    @terrafirma9328 3 ปีที่แล้ว +2

    Anyone know if Bidens BBB bill with self directed ira elimination passed or was modified?

  • @ronloftis9080
    @ronloftis9080 3 ปีที่แล้ว +1

    advice from a great trader....buy high, sell higher. This means buy the best assets, because the best performing assets because they tend to continue to outperform.

  • @stevenduenez1568
    @stevenduenez1568 3 ปีที่แล้ว

    Enjoy the Channel, keep it Flowing!

  • @ohsoright2503
    @ohsoright2503 3 ปีที่แล้ว

    Can you do one with a LLC or SCORP doing Crypto Mining or a small business?

  • @iamkerenlouise
    @iamkerenlouise 3 ปีที่แล้ว +2

    Good stuff Mark--you remind me so much of Robert DeNiro in looks---you could be his younger brother lol

    • @Jefleopard
      @Jefleopard 3 ปีที่แล้ว

      Yeah. Not. I hope he’s not insulted. That’s sounds insulting.

    • @iamkerenlouise
      @iamkerenlouise 3 ปีที่แล้ว +2

      @@Jefleopard no disrespect meant or insult--he has gotten that comment a lot in many of his previous videos and takes it as a compliment...to each his own.

    • @mekichey129
      @mekichey129 2 ปีที่แล้ว +1

      True he does look like Deniro especially in Casino.

  • @shaolin31
    @shaolin31 3 ปีที่แล้ว +1

    If I pay my kids under age 15 $10k from my business, do they need to pay self employment tax and FICA, especially to put money in solo 401k and Roth 401k? I am trying to load their Roth since they are in zero tax bracket as you recommend, but a CPA I was consulting with said they need earned income and must pay FICA. Is there an IRS citation? I am trying to set them up and pay them before 12/31.

  • @vilmadelacruz113
    @vilmadelacruz113 3 ปีที่แล้ว

    Where can i aplly heth care account .

  • @projectmanager8931
    @projectmanager8931 3 ปีที่แล้ว

    Thank You for all your wisdom.......Would you give your opinion on Defined Benifit plans? I'm 62 yrs old, have had a DBP for three years, but after the first year I have only been able to make minimum deposit of $16,000.00 and am charge $1,750/yr to the plans actuary. Not sure if this is the best way to catch up on retirement, considering COVID has had a great impact on my business.

  • @judithrucka3648
    @judithrucka3648 3 ปีที่แล้ว +1

    I need an appointment

    • @MarkJKohler
      @MarkJKohler  3 ปีที่แล้ว

      Call 888-801-0010!

    • @judithrucka3648
      @judithrucka3648 3 ปีที่แล้ว +1

      @@MarkJKohler I will wait until I move. House on market presently my brain is in overload. I do need legal paper work

    • @judithrucka3648
      @judithrucka3648 2 ปีที่แล้ว

      @Whatsapp➕➊➒➋➑➐➒➌➏➏➊➐ I had a sub s corporation I will check with my CPA if it can be resurrected. I was stupid and never used the write-offs I should have taken. We are about to move.

  • @theresadalton78
    @theresadalton78 3 ปีที่แล้ว

    I clicked the link for the 8 steps to start & grow your business, which isn't working for me. Does it still work??

    • @BM-if9zn
      @BM-if9zn 3 ปีที่แล้ว

      As of today 12.28 still not working. I amazed to see how many companies don't even review their websites/youtube/ig/etc links.

    • @MarkJKohler
      @MarkJKohler  3 ปีที่แล้ว +2

      I'm sorry for the inconvenience! Here is a working link: markjkohler.com/product/8-steps-to-start-and-grow-your-business/

  • @andreawisner7358
    @andreawisner7358 3 ปีที่แล้ว

    Burning 🔥 question: Can you have a PLLC making an S Corp election AND an S Corp, or should you treat the PLLC as a pass-through to the separate S Corp? What is the difference between S Corp and S Corp election?

    • @utleyadmin9679
      @utleyadmin9679 2 ปีที่แล้ว

      Your second sentence is correct. That PLLC should pass through each individual LLC/S-Corp.

  • @flm1977
    @flm1977 3 ปีที่แล้ว

    Can you do a video on Donate Advised Fund advantages? Thansk@

  • @Swing4TheRing
    @Swing4TheRing 3 ปีที่แล้ว +9

    Hey Mark, should I create DBAs under my LLC for my other side hustle businesses so that I can combine all of that income in to 1 bank account for easier accounting? Would this also help me write off equipment and expenses for those as well?

  • @benzew2161
    @benzew2161 3 ปีที่แล้ว +6

    Would appreciate a video on real estate cost segregation and depreciation and how it works with regards to rental income and whether it can be applied to regular income, commission income etc.
    Thanks for the value you provide...BTW I loved your book

    • @averybeasley7347
      @averybeasley7347 3 ปีที่แล้ว +1

      A real estate rental loss is generally considered passive, unless you fit the criteria of a material participant or a real estate professional. Because the loss is passive, you can only deduct a passive loss against passive income. Again, passive losses can generally only decrease passive income; it cannot decrease ordinary income. A cost segregation aims to allocate larger amounts of depreciation to assets with lower depreciable lives. This allows someone to take a higher depreciation expense and pay less tax. Hope this helps!

  • @sirbeard89
    @sirbeard89 3 ปีที่แล้ว

    Can i contribute 5000 to a traditional ira to reduce taxable income and contribute 1000 to a Roth for maximum contribution while using the mega back door ira?

  • @EHame
    @EHame 3 ปีที่แล้ว +1

    20 bucks sold. Really appreciate Mr. Mark Kohler and would have a cup of eggnog with him anyday. Thanks for the podcast!

  • @angieharris8015
    @angieharris8015 3 ปีที่แล้ว +4

    I just love Mark's personality and humor. The young guy is kind of annoying (and not funny).
    Thank you for sharing your knowledge, though. You both are very intelligent 😊.

  • @emmalee9789
    @emmalee9789 3 ปีที่แล้ว

    How to form an LLC

  • @whatthefunction9140
    @whatthefunction9140 3 ปีที่แล้ว +1

    I also went to Walmart today and left feeling sad for humanity

  • @inpowerrecords
    @inpowerrecords 3 ปีที่แล้ว

    Great video lol 😂 You both make me laugh too. Thank you

  • @Sunflowers-Pumpkins
    @Sunflowers-Pumpkins 3 ปีที่แล้ว

    HRA is only for your employees. You can’t reimburse yourself if you’re the business owner.

  • @sweetsuccesstrading5097
    @sweetsuccesstrading5097 3 ปีที่แล้ว +3

    Here’s the Best one. Don’t Volunteer to Fill Out the Form and get Trapped in the IRS’s web. Read the Fine print, where you Sign on the Form! Your not Trapped if you Don’t Fill it Out and Sign it. So Many foolish people still Contributing their hard earned $ for Nothing.

    • @Jefleopard
      @Jefleopard 3 ปีที่แล้ว +1

      More info please.

    • @sweetsuccesstrading5097
      @sweetsuccesstrading5097 3 ปีที่แล้ว

      Jef Leopard Don’t just take my word for it. Read what I Provided and Understand it. For more Clarification, there is a TH-cam channel Freedom law school that has been around for quite a while, that goes through Everything to Understand about it step by step. He hasn’t filed in over 34 Years. Myself, over a Decade.. Recently found him, within the past year or so, that has backed up what I had already learned over a Decade ago.

  • @joshuahernandez956
    @joshuahernandez956 3 ปีที่แล้ว +3

    Just tell me how to convince my wife I can buy a truck. 👊🏽🤛🏽✊🏼😀😂

  • @jennyliu5525
    @jennyliu5525 3 ปีที่แล้ว +1

    I’m kind of disappointed at your service I tried to just ask a little questions before become your client , but the lady said that you guys don’t answer any questions because I’m not your client that’s not very nice

  • @aaronbivas3994
    @aaronbivas3994 3 ปีที่แล้ว

    Is there any reason to set up an UTMA or regular brokerage account instead of a Roth IRA for your child?
    Thank you, love your content!

  • @ianrealestate-jy7in
    @ianrealestate-jy7in 3 ปีที่แล้ว

    Can I pay my aunt before the end of the year ? $8000

  • @onecasual1
    @onecasual1 3 ปีที่แล้ว

    Hey Mark, how much money is considered 'High Deductible'? Is there a monetary range or is there a specific amount?
    Thank you!
    Happy Holidays to both you & Mat

  • @mandttrust3844
    @mandttrust3844 3 ปีที่แล้ว

    When you have been granted favor through grace, it should be your duty and conviction to treat others with respect. Calling people "idiots" reflects a lack of character and gratitude for what you have been trusted with.

  • @theresadalton78
    @theresadalton78 3 ปีที่แล้ว

    Who is Raul?? Is this SPAM??

    • @MrDkshaw
      @MrDkshaw 3 ปีที่แล้ว +3

      YES. ITS SPAM.

    • @adelesmith7439
      @adelesmith7439 3 ปีที่แล้ว

      @@MrDkshaw oloriburuku

    • @terrafirma9328
      @terrafirma9328 3 ปีที่แล้ว +1

      Raul is a Nigerian whatsapp scammer, ignore any whatsapp number scams!!!

  • @XRPBankster
    @XRPBankster 3 ปีที่แล้ว

    🤙