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#588 Tax Strategy Q&A: Mega Backdoor Roth, RV Write-Offs, and LLC Mistakes

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Manage episode 495965363 series 2918661
Content provided by Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Mark Kohler and Mat Sorensen are back for another Open Forum episode of the Main Street Business Podcast — answering real tax, legal, and wealth-building questions from listeners across the country.

In this episode, they cover advanced strategies and insider tips for:

  • The Mega Backdoor Roth: How it works and who can use it
  • Maximizing vehicle deductions and depreciation the smart way
  • Fixing a broken S-Corp partnership structure
  • LLCs vs. business trusts in California
  • Solo 401(k) contribution strategies to hit the $70K cap
  • Combining multiple accounts in a Multi-Member IRA LLC
  • RV write-offs: What full-time RV entrepreneurs can (and can’t) deduct

Whether you're a business owner, investor, or just want to stop overpaying the IRS — this episode is packed with strategies and answers that could save you thousands.

  continue reading

Chapters

1. Intro to Main Street Business Podcast (00:00:00)

2. The Mega Backdoor Roth Strategy (00:01:14)

3. Vehicle Depreciation Tax Rules (00:06:45)

4. S-Corp Partnership Pitfalls (00:14:24)

5. Business Trusts vs LLCs in California (00:21:07)

6. Solo 401k Contribution Strategy (00:24:30)

7. Multi-Member IRA LLC Rules (00:32:00)

8. RV Business Tax Deduction Options (00:34:20)

595 episodes

Artwork
iconShare
 
Manage episode 495965363 series 2918661
Content provided by Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark J Kohler and Mat Sorensen, Mark J Kohler, and Mat Sorensen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Mark Kohler and Mat Sorensen are back for another Open Forum episode of the Main Street Business Podcast — answering real tax, legal, and wealth-building questions from listeners across the country.

In this episode, they cover advanced strategies and insider tips for:

  • The Mega Backdoor Roth: How it works and who can use it
  • Maximizing vehicle deductions and depreciation the smart way
  • Fixing a broken S-Corp partnership structure
  • LLCs vs. business trusts in California
  • Solo 401(k) contribution strategies to hit the $70K cap
  • Combining multiple accounts in a Multi-Member IRA LLC
  • RV write-offs: What full-time RV entrepreneurs can (and can’t) deduct

Whether you're a business owner, investor, or just want to stop overpaying the IRS — this episode is packed with strategies and answers that could save you thousands.

  continue reading

Chapters

1. Intro to Main Street Business Podcast (00:00:00)

2. The Mega Backdoor Roth Strategy (00:01:14)

3. Vehicle Depreciation Tax Rules (00:06:45)

4. S-Corp Partnership Pitfalls (00:14:24)

5. Business Trusts vs LLCs in California (00:21:07)

6. Solo 401k Contribution Strategy (00:24:30)

7. Multi-Member IRA LLC Rules (00:32:00)

8. RV Business Tax Deduction Options (00:34:20)

595 episodes

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