Thanks guys for all the great info

Great video Thank you for sharing

What are your thoughts on using a Define benefit plan for business owners

I'm Wow'd.. ima believer. Yes the THIS

Thank you for this. This is great stuff.

I’m moving to Puerto Rico, how I can prevent double taxation in the island?

OMG- Got lost on that route as well on Route 66- was delayed in Phoenix over Christmas for 4 days- rented a Tesla and drove to visit friends in Lake Havasu and note to self- when you set the map to route to "Super Charger Sites" it takes you about 1.5 hours out of way. Bonus Info: Lake Havasu does not have any public Tesla charging stations! Wondered why I was only one driving around in a EV.

@RyanHutchinsesDad

Жыл бұрын

Twy8a

Thank you for doing this. Question; how do I account for balance transfers I did from my personal credit cards to pay for appliances on rentals and paying myself?

@MarkJKohler

Жыл бұрын

Hey there, to get your question answered, please submit it to podcast.mainstreetbusiness.com/ thank you!

Single person S corp with no w2, can i do solo 401k?

Can LLC hired owner as an employee?

i tried to sign up and ask a question but it says my account does not exist after validating my email...Any help would be appreciated.

@MarkJKohler

Жыл бұрын

Hey Wattsobx, if you can email members@markjkohler.com with your issue, we can look into your account and see what is going on!

How do I protect myself from short term Capital Gains taxes. LLC ? Home Biz? Thank You .

@eliezerdusowitz615

Жыл бұрын

Hold the property long enough to qualify as long term?

@AnOhioPatriot

Жыл бұрын

@@eliezerdusowitz615 👍 I need a Home Based Biz to reduce my tax liabilities.

@LuxeprivaeMedia

Жыл бұрын

Work with a tax strategist and read the treasury regulations.

Look up David Straight

Hello Mark, I withdrew from my ira to contribute to my hsa (one time in my life). Now on the tax form 1099-R from Fidelity, I see they put code 1 in box 7. It’s wrong, isn’t it? What code is it supposed to be, Mark? Please advise me. Thank you so much!

@taxguruette

Жыл бұрын

It is correct. If it was a custodian to custodian rollover it would be coded differently. On the tax return you fix this issue. Your IRA company doesn’t know if you followed through on the transfer

@ttruong6784

Жыл бұрын

@@taxguruette Thank you for your response. Actually I asked them to transfer the money for me so the should have known it.

You should not have to report to anybody

I just gotta hammered on taxes, I owe the IRS 10,000. That has me making less than 40,000 a year what gives. I am dying here

@HighCountryRambler

Жыл бұрын

"Build Back Better" is what gives... They went ALL IN on their green fantasy and destroyed the economy, someone's got to pay for the damages.

I have a corporation s, I Have a store and a cleaning business i won a lot and ai am building a house with a big garage and aan 2 bedroom apartment on top...should I create an LLC and transfer the tittle to my LLC ....I want to rent the house and warehouse to all of my business and my self...should I do that?

@markwright5262

Жыл бұрын

I would recomend a call to get the full answer... It's been worth the cost each time I have called them for a consult.

@wattsobx

Жыл бұрын

@@markwright5262 What is the fee structure you followed for the consult. I have one very specific question around paying my minor kids through my Sole prop LLC.

@markwright5262

Жыл бұрын

@@wattsobx They charge by the hour, I would call and ask what 15 min would cost. I have followed them for a few years and use them as our CPA... Its always been worth asking. They may have a minimum for non clients.. I'm not sure.

1099 Does this apply if they are paid by credit card?

The government needs to pay you interest on the money they kept from you all year you're filing the wrong forms you need to claim your minor account millions of dollars

What you want to do is put your 401k and a trust account so they can't touch it and you're minor account money that's in the treasury that they got for you that they don't tell anybody about because after you died that's what funds the government are taxes provide their yacht

Goodbye RS they're going away Davey told everybody to hold off on their taxes this year because we're getting all of our taxes back that you ever peed haven't you been studying and researching what's going on right now?

Funny show today 😂…all fun till you said I should issue 1099 for transactions over $600 to other (non-box store) businesses. Had no clue, deadline is approaching, & now my head is 🤯

@LuxeprivaeMedia

Жыл бұрын

Everyone isn't required to file a 1099 let alone sign a w-9.

Question, can I employ my 81 year old mother and pay her $20,000 per year, have her contribute the entire $20,000 into the company sponsered 401K plan, Write off the 4% company match Each year she withdraws the RMD and converts the balance to a Roth IRA and pays the tax on the conversion and... here is the kicker... she puts me down as the beneficiary of the 401K and the Roth. hmmmm... am I onto something here???

@MarkJKohler

Жыл бұрын

Eddie, to get your question answered, please submit it to podcast.mainstreetbusiness.com/ - thank you!

@Tico2883

Жыл бұрын

Hummm that sounds very fish but doable 😬🤫

"May your sweet spot never be a big back door..."

You have Ladies watching you videos. I found some of your Humor and poor taste. The humor of words not spoken but understood by most adult people. Very distasteful.