When to use an S-Corporation

by Mark J. Kohler | Aug 16, 2022 | Business Entities, Business Tips, Financial Advice, Legal Tips, taxes

An S-Corporation (S-Corp), is a common entity to save on taxes and most small business owners should be using them as their entity of choice. I consistently get asked by business owners around the country if an S-Corp is a good fit for their business. I can tell you...

Top 10 Ways to Avoid an IRS Audit

by Mark J. Kohler | Aug 10, 2022 | Financial Advice, Tax planning, taxes

IRS enforcement is increasing and it’s critical to know how to avoid an Audit. With the passing of the Inflation Reduction Act, the IRS was given an 80 Billion budget increase, essentially doubling the size of the IRS. If you didn’t think there was a...

How to Write-off Your Travel Expenses

by Mark J. Kohler | Aug 3, 2022 | Business, Business Entities, Business Tips, Financial Advice, Legal Tips, taxes

A tax deduction for your travel expenses is one of the most underutilized tax deductions by small business owners today! Making sure our travel has a ‘business purpose’ is critical. It’s a perfect opportunity for business owners to take a great tax...

How a Small Business Saves Taxes and Builds True Wealth

by Mark J. Kohler | Jul 18, 2022 | Business, Business Tips, Financial Advice, Tax planning, taxes

A small business will save you taxes with better write-offs, and help you build wealth with more personal cash flow. I realize that may sound bold or even a little crazy, but the one thing I’ve learned in over 20 years as a CPA and Attorney, is that my wealthy...

529 versus ESA: The Best for College Savings

by Mark J. Kohler | Jul 5, 2022 | Education Savings, Financial Advice, mjk, Retirement planning, taxes, Uncategorized

The Coverdell ESA is far better than the 529 and the best tool to save and build wealth for college expenses tax-free. The problem is the Wall Street Lobby makes the 529 easier to contribute to and work with. This needs to change! But in the meantime, know that the...

Should I put My Spouse on Payroll?

by Mark J. Kohler | Jun 26, 2022 | Blog, Business, Business Tips, Financial Advice, Health Care, Retirement planning, Tax planning, Uncategorized

Whether or not to put your spouse on the payroll for tax planning purposes is a very strategic question and something we often analyze for clients. In fact, many clients rush to put their spouse on payroll, but for the wrong reasons. It could actually be quite a...