Mark J. Kohler

Tax & Legal Educational Articles
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Most Popular Articles

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How to Pay Your Kids in Your Business

This has to be one of the most under utilized tax strategies by small business owners with families today. Many don’t realize that paying their children under age 18 is an excellent strategy to minimize their tax liability, not to mention it creates a host of other ancillary benefits.

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form 1099

1099 Rules for Business Owners in 2024

Businesses will now file Form 1099-NEC for each person in the course of the payor’s business to whom they paid at least $600 during the year. This payment would have been for services performed by a person or company who IS NOT the payor’s employee.

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Most Recent

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Building a Personal 10-Year Plan

A 10-year plan is your personal roadmap to achieving long-term financial goals and living life on your own terms. Whether you’re growing a business, managing a side hustle, or planning your exit strategy, having a well-defined vision will help you stay focused and in control of your future. Instead of being reactive to life’s twists

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Top 10 Ways to Avoid an IRS Audit

Here is a list of the TOP 10 things TO do, or NOT do, in order to avoid an audit with the IRS. As many of you can imagine, an audit can be expensive and time-consuming, not to mention, emotionally draining experience. Please take these to heart.

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year end tax tips - must complete by december 31st

“8 Year-End Tax Tips You Must Complete by December 31st”

This is a unique trick we implement for several clients each year. If you previously paid a lot in Self-Employment Tax and for some reason had an LLC (sometimes a major mistake by other planners), you can easily still elect it to be taxed as an S-Corporation retroactively to January 1st, 2025

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The New Home Mortgage Interest Deduction

The new law first imposes a lower dollar limit on mortgages qualifying for the home mortgage interest deduction. Beginning in 2018, taxpayers may only deduct interest on $750,000 of new qualified residence loans ($375,000 for a married taxpayer filing separately), and the limits apply to the combined amount of all mortgage loans. Moreover, the extra $100,000 of home equity interest is gone entirely. 

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Subcontractor vs Employee – 7 Warnings

The IRS consistently warns taxpayers to not get caught paying ‘employees’ as ‘sub-contractors’. But believe it or not, the IRS, may be the least of your worries. There are 7 deadly results that could occur by trying to call an ‘employee’ a sub-contractor when it’s truly not the case.

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can a foreigner use a s-corporation in the US?

Can a Foreigner use an S-Corporation in the U.S.?

This is a common question we are asked on a regular basis and an important one. In fact, it tends be a common concern with Canadian clients doing real estate projects in the U.S. Here are some basics that can help you if you are a foreigner or investing with a foreign partner. Why an

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silent partner - 3 SEC compliant ways to bring one on

Silent Partner – 3 SEC Compliant Ways to Bring One on

There comes a time in the lifespan of just about every business when the potential for substantial growth comes to fruition, and additional capital is necessary to make that growth happen. It’s at these moments you’ll probably start looking for people to invest in your business.

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