#472 LLC, S-corp, or C-corp: Which is best for me?

In this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen unpack the complexities of business structures and their tax implications. They delve into a variety of topics, including the advantages of transitioning a side hustle to an S Corp, the intricacies of tax management for partnerships and LLCs, and the strategic use of different entities for business owners and real estate investors.Here is what you can look forward to:In-depth explanation of various legal and tax strategies such as the asset protection benefits of LLCs, the tax savings provided by S-Corporations, and the correct timing and situation for employing these entities.The hosts debunk commonly held misconceptions about managing taxes for small businesses and provide tried and tested strategies for maximizing tax savings.A discussion on the vital role of a board of advisors in a business, with insights into how strategic planning can contribute to tax savings and overall business growth.Mark and Mat explore the tax implications of infusing more capital into your business and aptly handling 'phantom income'.Both hosts emphasize the importance of seeking professional advice before making significant tax and legal decisions, highlighting the intricate nature of these matters and the potential for costly errors.Don't miss this episode if you're looking for expert advice on effectively managing your small business taxes, understanding complex tax strategies, and maximizing your tax savings. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!

Om Podcasten

The Main Street Business Podcast hosted by Mark J. Kohler with co-host Mat Sorensen discuss complex tax and legal topics like LLCs, corporations, estate planning, raising capital, and retirement planning in an engaging and charismatic way, making it easy for anyone to understand.Mark J. Kohler has done over +10,000 consultations with clients, is a Senior Partner at KKOS Lawyers and CFO/Board Member of Directed IRA Trust Company with $2B+ in managed assets. He’s a best-selling author of six books, national speaker and founder of the Main Street Certified Tax Advisor Program, a program training thousands of CPAs and Enrolled Agents on proven strategies, effectively changing the lives of millions of small business owners in America.