In this episode of the Main Street Business Podcast, host Mark J. Kohler and Mat Sorensen break down essential strategies for high-income earners looking to maximize their retirement contributions. Learn how to utilize "backdoor Roth" and "mega backdoor Roth" methods to surpass traditional contribution limits, gain insights into employer matches and after-tax contributions, and explore the powerful role of Health Savings Accounts (HSAs) as part of your retirement plan.

Here are some of the highlights:

• Mark and Mat address the misconception that retirement accounts aren't beneficial for high-income earners due to contribution limits.
• Emphasize the importance of planning together with one's spouse to understand and align on retirement goals.
• Introduction to "spousal backdoor Roth IRA" for married couples to maximize their contributions.
• Advise against prioritizing college savings over retirement contributions, emphasizing the need to secure one's own financial future first.
• In-depth discussion on advanced retirement strategies for self-employed individuals, including cash balance plans and defined benefit (DB) plans.
• The concept of "match and out," where one contributes enough to receive employer matches and then focuses on other accounts.
• Mark and Mat encourage listeners to seek professional advice to maximize their retirement contributions and achieve financial security.

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Live from the Alternative Asset Summit!

Join Mat Sorensen and Mark J. Kohler in this special live episode from the Alternative Asset Summit, where they talk about powerful strategies for building wealth beyond Wall Street. They share actionable insights, highlight some of the summit’s best takeaways, and invite guest speakers to share their success stories and what they’ve gained from the event. Whether you’re looking to diversify, grow your portfolio, or just start thinking differently about wealth, this episode is packed with expert knowledge and real-life examples to help you take control of your financial future.

• 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!

In this episode of the Main Street Business Podcast, host Mark J. Kohler is joined by Karlton Dennis to share essential tax-saving strategies before the year ends. They explain how transitioning from an LLC to an S corporation reduces self-employment taxes and how you can benefit from bonus depreciation. They also cover creative ways to involve your kids in payroll, plus insights on using solo 401(k)s and Health Savings Accounts to maximize deductions.

Here are some of the highlights:

• Mark and Karlton discuss their roles as tax strategists focused on saving money.
• The concept of self-employment tax, which includes Social Security and Medicare contributions.
• How self-directed accounts can be used to invest in rental real estate and other business assets.
• Mark and Karlton discuss the benefits of switching from an LLC to an S corporation using Form 2553.
• Mark encourages listeners to backdate the S corporation election to January 1, 2023, to avoid self-employment taxes for the year.
• How to properly place children on payroll to reduce taxes and provide financial education.
• Importance of setting up retirement accounts before the end of the year to maximize tax benefits.
• Karlton introduces the Tax Free Wealth Challenge, a five-day event focused on tax strategies.

• 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!