How to Save on Taxes
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- เผยแพร่เมื่อ 28 ก.ย. 2024
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I worked for CPA 1 year bookkeeping posting and coding nut I have no knowledge, watching your video I am getting awareness were to save I waisted my husband money lot I think. Thank you so much.
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You are gorgeous CPA
Excuse me you are gorgeous bookkeeper
I don't know why people would give you thumbs down,I start watching your channel to learn more english, and I already learning to build my little business it gives me that desire and burning sensation to do it,very good Information and I will find the way to go to your seminar in California I'm in orange county I'm a truck driver just turning 50 in September gracias por tu tiempo! Yo aprecio esto que haces por todos! Love it! THANK YOU!
Come to think about it, not sure why thumbs down don’t show up on yt comments (not saying yours deserves one). But it does seem pointless to thumbs down a clearly useful video. Maybe if they were required to explain why so the thumbs down is useful for the channels’ creator.
I literally spent 6 hours today on a lot of your videos. You ARE THE Beaastttttt
Very nice to have you on the planet earth.
Timestamps would be cool
😁😁😁....i love to watch your channel very educational and
funny.
Refreshing to listen to someone good but does not seem to have a ego.
Thank you for all the great information!!
Im really like your vids and the info you provide. could you do a vid for regular 1040 people who want to start a side hustle on the side. step by step and the scenario would be starting it at mid year and some of the expectations of doing this and then the expectations of new year and filing taxes. Q&A would only be from those brand new starting a small business as well as topics for newbies. Just trying to grab the concepts of write offs and how that will look on taxes and potential refunds.
@wHaTsApP✞︎❶❸❶❽❽❽❾⓿❸❾❸ who are u & what do u do?
Why do you not have any videos on grantor retained annuity trust?
Your Awesome
Excellent ghost buster CPA impression. I saw the guy in my head the second you did the voice 😅
What is a write off and how much or what % is written off?
Explain if the entire price of that write off is taken or a percent?
What software do you recommend to track docs and expenses.
Can you address high W2 earners and what, if any, impact the small business operations/expenses/profits would have on the total tax liability. Every deduction seems to phase out once you clear $150k income.
@@omeshpersu......6644 This is not Mark J. Kohler. Never respond to WhatsApp - they will harass you! Call the police immediately!
Great broadcast! What brand of digital white board and writing tablet are you using? Thank you. Steve T.
Up Goose Creek with out a paddle!😂😂😂🤣🥲🤣😂😂🤣🤣😆
Hi Mark I want to start a small business as a day trader and qualify for TTS according to IRS topic No. 429. I remember before you saying trading stocks isn't a business and doesn't belong in the operations side so I wanted to double check with you on this topic to get your blessing. It'll be great if you could bring it up in on of your youtube videos I think a lot of people will be interested, thanks.
@@repeildbymarkjkohler4631 Oh hi Prince of Nigeria how's everything?
Hey Jeff, haha love your comment back to those scammers trying to impersonate me... they are driving me nuts!
As to your question, check out this video: th-cam.com/video/Uu9KLdpI5-M/w-d-xo.html
I talk about how investment income is taxed differently (ie stock or crypto trading) than operational or passive and how the tax strategies for that type of income are different. Hopefully, this helps put you in the right direction! If you need more help, you can contact my office at 888-801-0010
Louis Tully CPA
"Ok who brought the dog?"
I just found your channel on TH-cam. It’s amazing the amount of information you provide. Thank you. Please let me know if you have a representative in Oregon
We are currently building a Tax Pro network. Check out our website at the end of the month for a list of CPAs across the country. www.MARKJKOHLER.COM
What about writing off half of self employment taxes #16?
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Actually, it’s very therapeutic to say what the FICA
What is the little tablet and whiteboard and software system you use to create these videos?
What tablet are you using?
If I am a 1/12 owner in an LLC, that holds commercial real estate property that I receive monthly income from, can I include that income/business in an S Corp?
What about answering the question at the beginning of the program??
As far as the Roth owned rental property-does the cashflow from that property go into the roth account tax free? Or does it go directly to you?
to the ROTH
Can you help the average blue-collar worker with their taxes each year? I do not have my own business, I work for the school district as a custodian. But I had a quite a bit of things that happened last year, where I had enough income that I went to the next tax bracket. Now, for the first time, I actually owe the government, and I have not had to do that before. I would rather talk to someone on the phone if possible. Thank you, Lori G.
Lori, we are launching a new Tax Advisor program with many amazing advisors and more on the way that will be able to help you. Please follow this link to get connected with one of them! markjkohler.com/tax-advisor-network/ Thank you!
You remind me of Rob Riggle I think his name is from the Hangover.
How can I switch my ebay business from sole proprietorship to llc or s-corp?
Awesome!!
Write-offs for subscriptions to magazines, apps, services that are used for productivity
Great advice, thanks. Number six is a dick move.
Is a po box a tax write off if i am a contractor?
What is this Section 408 (M)(3) loophole? I keep getting ads on your videos about it, can you do a video on it?
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At what revenue limit, if any, should a small business transition from LLC to S-Corp if the business owner is also a high income W2 earner who already maxed out the social security contribution?
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@@omeshpersu......6644 This is not Mark J Kohler. Report them to the police! Never respond to WhatsApp!
Hey Mark, can you talk about asset based lending? I'm talking about getting a loan against collateral like my stock portfolio. I'd like to know the disadvantages (if any) to doing this other than the stock being sold if I don't pay the loan.
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you guys are my brothers from distant mothers. we'll be dining in tax-free heaven in 60 yrs. calling u guys... throwing you a challenge. let's see those brains at work
Great info
dude funny as hell lol!
Sleep like our cat.
You can blame h&r block because they have a guarantee if purchased 🤣
just dont pay and tell them to go print more your having a hardship
Love the jokes that you say in every video.
Do not reply to WhatsApp number. These are scammers who stole Mark J Kohler's identity!
Does who unlike this video are must be IRS agent lol
qUIT usa AND PAY 0 TAXES....
Can you provide me with your contact information?
Markjkohler.com
LMBO!!!!!
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I really wanted to know about the garage. I'm upset that you didn't talk about that.
Did you miss the QBI discount/deduction? Easily a top 10 deduction, for someone who qualifies. I unfortunately do not, but I wish I did.
Also, S-Corp only makes sense if you are not already capped on your SS income. Additionally, you forgot to mention that S-corp has extra taxes like federal + state unemployment taxes.
why dont you have your own channel smarty pants?
@@tomsmith9011 Relax dude... I was just providing some information so that future videos can be better. Also, as my username implies, I am just a random guy on the internet. Please don't take offense when a random guy makes a comment. As for why I don't have my own channel, it is because I am not a CPA or a tax attorney.
Why do people get so sensitive these days? Imagine watching the above video and then learning from the comments below. The whole point of the video was to get some education. So now that supplemental education is posted in the comments, it is automatically a trigger point? Seriously, I love reading comments on videos like this, because it just adds to my knowledge base. Mentality like yours will limit your knowledge.
@@mkhcb007 I totally agree with you, I love to see replies as yours so we can reinforce what we learn from Mark J Koehler. ❤️
Love this and thank you 🙏 for your great teaching and wisdom
how come no one tells you about the office write off that when you sell your home you got to pay all that money back even if you live in your home as a primary residence..
Thanks for watching...for more tips on how to grow your investment **and**Guidance....
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Mark your the Man, You know why, because you have HONESTY AND INTEGRITY, Your Golden
"Lets Put Em Through The Matrix, Let Us Show Them How It Works" - Mark J Kohler The Great
Also, someone stole mark’s name and photo and is posting scam WhatsApp numbers as replies….
Hey Mark, you mentioned that you are able to mine into you Roth IRA. Would like to know more about this. Do you have a video that goes into detail on this?
Thank for sharing this information.
FYI your microphone audio is broadcasting in mono, audio is being heard from the rightside. As Derick's mic audio is being heard from the left.
How do you determine salary on a new business? My business is land development and I might sell 3 residential lots this year, maybe all 3 next year or some this and some next. Don’t want to pay myself too much this year if I don’t make any money because currently payroll is coming out of my pocket.
Thanks for watching...for more tips on how to grow your investment **and**Guidance....
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I called and was informed of the hourly fee for discussing how to setup everything for my business. What’s the average call as far as hours? Are we talking 1-2 or more? Will there be multiple appointments? I would just like to know the average time so I can set that cash aside.
Well, it really depends on how much stuff you have going on. If you are wanting to just get organized and have us help you put a diagram and plan together it should only take an hour. BUT, if you are needing help with getting entities set up, getting your trust formed, etc, it can take more time. If you are worried, just get started with an hour. Our team is here to help, not eat up your money (I know crazy idea, attorneys who want to help you). If you need more time for other serves later, we can always schedule it for the future to give you time to save up.
I hope this helps! Here is the email for a really great new client specialist at our office: rosalie@kkoslawyers.com she can always give you more details!
@@MarkJKohler Thanks Mark. I appreciate the info. Your Extremely entertaining and informative. I can’t thank you enough for the videos and live discussions. I look forward to using your firm.
Do this subject again please, Mark your microphone was off, and could barely hear you.
Please fix the Audio, or monitor it live. The people in the background are louder than the gentlemen on camera.
you talk about your podcast but i didn't quite get the name of it ? i drive, so, i cant really watch or read the text, It be nice if you blurr it out for those who listen on the road thanks
I'm trying to fine the video were you talk about getting a million dollar insurance policy with a trust and barrowing from the insurance?
Can you write your kid as a model yes or no. And what about myself the owner of the LLC can I pay myself as a model.
Wow nice sharing from my honey lu
Lololol, Mark is sooo funny, omg (whispering in the mic)
How do we write off contributions to family members 😅 lol
Can your property taxes and farm insurance
What app is he using for doing the white boarding?
39:08
Married filing separately?
I have to schedule an appointment ASAP I can’t thank enough of your knowledge you’re sharing with me I will pay anything
Glad I can be of help! Contact my law firm kkoslawyers.com/contact-us/ or my accounting firm kohlereyrecpas.com/contact-us/ and we'd be happy to help you out.
I need to schedule too! I haven't even done my 2020 taxes!
Can I do a backdoor roth conversation with non qualifies funds
What is the 25 tax write off podcast called / creator?
Hi mark, new to your channel and unsure if you have covered already. Basically, I want to be able to write off my new computer, etc and start a new small business for crypto mining, sharing info and basics, and entrepreneurship. I'm sure sure exactly the specific direction or where to start or the order if you can or have covered something about this? This would be very small assets and startup with probably just me employed at first, and my credit is decent at around 730-740 if that helps? Thanks Mark!
How can we schedule a consultation? I would like to get my plan together the current CPA seems to tell us things that don't always seem to make sense and O don't have a IRA as a disabled veteran and want to start one. I run a business with my husband and have side things but after a few of your videos I feel I'm not structuring the accts correctly to protect us.
I’ve sold whole life insurance but have never pitched it as a business move (withdraw/infinite banking/etc). I don’t believe that is its true purpose and someone taking such a small return for their money is stepping over dollars to pick up pennies.
The biggest move for Infinite Banking in my humble view and extensive research is to have real estate rentals or flips fund your policy and then start borrowing from it to buy other assets or liabilities like a company car or equipment and paying it back with interest to yourself. Another great technique is to use that money to lend at an interest rate higher than what the insurer is allowing you to repay the loan back! that way you are officially an alternative banker.
I find it difficult to justify overpaying for life insurance through an Ordinary Life (OL) policy that includes a 'savings amount' over and above the true cost of the underlying term insurance policy. 1) why not just by a Level Term policy and bank the rest of what you would pay for OL. 2) Buy the correct amount of insurance through Term and not OL, so that you are not cash strapped to buy an expensive OL policy that doesn't deliver enough insurance. and 3) Why would you ever want to pay the insurance company interest to borrow your own 'Cash Surrender Value' of your OL policy. Here's an idea, why not put $$ in a savings account at a bank at 2% and borrow against the savings account at 4%? Duh! Doesn't make sense to me!
Can I use you if i'm out of state?
Yes! My firm helps clients in all 50 states. Here is the number: 888-801-0010
59:39 the truth comes out
Love your passion ❤️
Mark. Question to confirm here: Wash Sales DO NOT apply to crypto trading correct? Going from crypto to USD or to another crypto, is irrelevant because it does not apply to crypto in general. Is that a fair statement?
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Thanks for sharing this video! This is very informative.
Can you go into the benefit of balancing salary for eventual social security benefit vs. taking the lowest possible salary and/or not paying a spouse. That is, keeping your 30 highest-paid years average high and keeping your social security benefit robust. Thanks!
I’m on Medicaid now (not planning to bog to nursing home) but renting a room (disable), but wanting to buy a house with a sell from sales of house in rual location with water and gas for utilities. I am a revocable trustee of house that will be selling. Other trustee not for sure and indecisive in there decision. Not ready to buy house now myself in this inflationary market of 07/2021. Can I put money of house sell, in a irrevocable trust and not about Medicaid taking it away another trustee who is going write a check to me or my trust once my trust is setup. Mainly want a IRREVOCABLE TRUST to get bank account, vehicle, (future home) out of name put into a trust from sue happy people.
How do I save on taxes with w2, no mortgage, no side business, no stock trading. I get qualified dividends, and some mineral rights royalties. I max out my 401k and fund the roth ira.
Can I set up my personal stock day trading as a business
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If I have stock that's dropping for a loss in my Roth ira would I be able to sell the stock and transfer my Roth to a direct ira and buy the same stock at the lower rate to make a gain for a wash (I believe is what it was called) to deduct my loss?
Mark my name is Eddie Christmas I tried to ask your firm a question over the phone just one question see if I could get a good answer nobody would answer any questions nobody's got time for me yes they want me to set up a quotation so I can talk to them later in October November I just wanted to ask one simple question whether I get a good answer or not so I would know what to do so I can set up I trust with you but nobody would answer a stupid ass question over the phone like they're too damn good to answer a good question no got to get paid for it
What about if your small business could not money , no markets?
Omg. You are so great. Thank you for being awesome. Lol. I love your vids. You have shed a lot of light on things for me to thing about. I have 2 rentals and I'm wondering a lot now. 🤔
What about the question you promised to answer? Can the garage be deducted as "storage space" for the business vehicle?
Yeah...
I wanted to know the answer to that too. BTW, I had another angle on that topic. I was thinking of buying a car that I could then rent out via Turo. I live in an apartment that comes with an off-street parking spot, for which I would be using to park that car that I would be renting out via turo. The parking spot is not itemized on the lease, so I wouldn't know how much I could claim as a deduction or if it would be a reasonable deduction for the IRS. My thinking is that on top of renting it, I could also use it for business driving purposes as well when it isn't being rented out. I am not sure how often it would get rented. But besides that, I had not considered if it was merely a business vehicle and if I was not also side hustling the car as a rental on turo, that I could create a deduction for the off-street parking spot for the car or what amount to claim, etc.
Yes, I needed to hear this 20 years ago!
You are really good! So I subscribed.
Can a C Corp change one of its projects into a LLC ?
Such great info, as always! Thank you @MarkJKohler
Thanks for watching...for more tips on how to grow your investment **and**Guidance....
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Rick Moranis
Mark, I love the fact that you are putting out valuable tax-saving information, but, 1) the videos are too long. Most of your videos are around an hour - too long! and 2) you expound too much, we get the point on the first go-around of explanation, you don't have to explain it several times. Sorry to sound rude, however, I do want the tax-saving info, and I want it now and not over the course of an hour.
You might want to experiment with notating what you will be talking about at the beginning of your videos and maybe even putting in the location of where you start talking about a particular subject so we don't have to dawdle along with a subject that's not interesting to use and skip directly to the one, or many, we want to hear about.
You possibly could also consider going on TH-cam as a stand-up comedian making fun of accounting stuff & IRS rules.
We own a condominium which is an airbnb right now. I want to invest another small property (60-70k), should i register as llc pr s-corp? Thank you Mark.
Appreciate you answering our question though. Thank you
Mark You Are A Beast!!!!!
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Thanks for the feedback ~~~for more
Information
W.H.A.T.S.A.P.P~~~M. E
+1 9 7 9 2 3 1 0 3 6 1
Inbox me privately /////////////
Dude, we need your fricken help. We need you as our accountant...period!! Serious as a heart attack.
You can get ahold of my accounting firm's new client specialist at maxwell@ke-cpas.com
We are in Ohio. Not California. 😂😂😂