Right About Now with Ryan Alford - Small Business Tax Tips To grow & Keep Wealth in 2025 with Mark J. Kohler

Episode Date: January 21, 2025

Right About Now with Ryan AlfordJoin media personality and marketing expert Ryan Alford as he dives into dynamic conversations with top entrepreneurs, marketers, and influencers. "Right About Now" brings you actionable insights on business, marketing, and personal branding, helping you stay ahead in today's fast-paced digital world. Whether it's exploring how character and charisma can make millions or unveiling the strategies behind viral success, Ryan delivers a fresh perspective with every episode. Perfect for anyone looking to elevate their business game and unlock their full potential.Resources:Right About Now NewsletterFree Podcast Monetization CourseJoin The NetworkFollow Us On InstagramSubscribe To Our Youtube ChannelVibe Science MediaSUMMARY In this episode of "Right About Now," hosted by Ryan Alford, tax attorney Mark J. Kohler, known as the "Main Street Tax Attorney," shares actionable advice for small business owners and individuals to improve their financial situations through effective tax strategies. Kohler emphasizes the importance of understanding tax laws, treating side hustles as legitimate businesses, and taking an active role in tax planning. He discusses practical tips like documenting expenses, involving family in business activities, and leveraging tax benefits for children. The episode aims to empower listeners with knowledge to maximize financial growth and navigate tax complexities.TAKEAWAYSImportance of small businesses in the U.S. economyUnderstanding tax laws and their implications for financial successCommon tax-related challenges faced by small business ownersThe rise of side hustles and their potential for tax savingsTax strategies for maximizing financial benefits for small businessesDifferentiating between tax brackets and effective tax ratesLearning from wealthy individuals about tax engagementThe necessity of a proactive mindset in managing tax responsibilitiesPractical advice for treating side hustles as legitimate businessesThe significance of documentation and record-keeping for tax planning If you enjoyed this episode and want to learn more, join Ryan’s newsletter https://ryanalford.com/newsletter/ to get Ferrari level advice daily for FREE.  Learn how to build a 7 figure business from your personal brand by signing up for a FREE introduction to personal branding https://ryanalford.com/personalbranding.  Learn more by visiting our website at www.ryanisright.comSubscribe to our YouTube channel  www.youtube.com/@RightAboutNowwithRyanAlford. 

It's not about getting rich quick. It's not getting rich slow. I want to get rich slow. This is Right About Now with Ryan Alford, a Radcast Network production. We are the number one business show on the planet with over 1 million downloads a month. Taking the BS out of business for over six years and over 400 episodes. You ready to start snapping next and cash in checks? Well, it starts right about now. What's up guys? Welcome to

right about now. We're always talking about how to get right and what's working now. I can tell you about what the future is. I can tell you about the past is but we want to tell you how to get ahead now. We go all we're going deep today in business. We're going to tell you and we're dealing with a one percenter. I'm telling you.

So, we got both a rare breed and we got the Main Street coming right to you. It is Mark J. Kohler. He is a tax attorney. He is the Main Street tax attorney and he's going to tell us today how to get it all right because look, we gotta put more money in

your pocket, baby. That's what we're here to tell us today And our focus this year in 2025 is how to get ahead in all things. And look, small business is the fabric of the US. We could talk the high end, we can talk the low end, all this, but we're talking like that is what drives America is small business. And I love what you're doing, Mark. I love the mainstream approach, podcasting, author.'re going to have all the links to Mark stuff. We got, he's got more shit going on than you would believe, but it's all about helping the main street.

So, uh, Mark set the table for us, man. I mean, how the hell'd you get 1% lawyer and a tax guy all at one. It seems like the perfect combo though. Like when I when I started reading your stuff and talking to your people, I was like, this is a rare breed here, you know, but but it

makes sense. Yeah. Well, that's what the ladies say, you know, you know, spotted white leopard. Um you know, I well, I was always an entrepreneur. I was the kid with the lemonade stand. I was had a small business in high school and hiring my brother's friends and screwing things up

And I mean it was Tom Sawyer painting white fences, whatever it was But I just loved entrepreneurship and when I went on to school I went into business and then I thought hey this accounting thing no offense to anyone out there I mean marketing class finance is tough sure, but I don't want to work for Wall Street So marketing man, I'm gonna go accounting because I can stand out there. If I can just get a C in accounting, I'll hire all the other A accountants. So sure enough, I stood out in the accounting group as the party planner. It was super fun.

Then I had this teacher who was a lawyer and an accountant. I was like, holy crap, this guy can take over the world. So you had all the benefits of understanding the numbers sitting at the table in business. Then I could freaking file a lawsuit. I was like, holy **** This guy can take over the world. So, you had all the benefits of

understanding the numbers sitting at the table in business and then I could freaking file a lawsuit, fight the IRS, do whatever and so I was like, I want to be that guy. So, I went on the law school, came to find out of a

hundred lawyers, one of them has any tax background and I freaking said, I'm going to Main Street, Screw Wall Street and here I am. Hey, man. I love it because you know what, Mark and we we talked a little pre-up said this but you know how many

times I've asked the question of my accountant, you'd have to consult your lawyer on that and not because look, I like to push the limit. I can admit it. You know, it doesn't take long to figure that out about me. You know, like and not but I

want to do it legally. You know, like and not but I want to do it legally. You know, I want to get all I can get out of it and so the moment you said that, I was like, I have heard that a thousand times, you know, consult your lawyer on that, Ryan. Yeah. Is it

true? Yeah, it's maddening and and the hard thing is is taxes are law. I mean, it's tax law, you know, and understanding it. And only the big dogs or big companies have been able to afford tax dollars. So I've worked really hard over the last 25 years building a model based on volume and a boutique where we can help clients around the country

and been doing that. But the important thing here is the number one cost in our lives are taxes. And people don't want to talk about it. It's too boring. It's too complex. What the hell do I do? Well, we're going to freaking demystify that. That's my whole career is to say it's not that hard and you're the captain of your ship. Quit looking for an accountant to do it all for you. You can freaking run the ship here. Hire the first mate and

you can control your destiny. What's the most common thing you deal with, Mark? You know, you can't just go and numbers. And so when you get asked a lot of the same questions, when you deal with a lot of the same challenges, I tend to think that brings knowledge to our listeners. What are some of those key things that you're always sort of tackling or working with clients on? Well, what's great question and what's interesting is since covid, we've had the great formation. the at as an opportunity to use those funds to get out of debt, build wealth, create assets, and one in five Americans own a rental property in some form or fashion. So if I've got a rental property in a little small business, people, you're not quitting your day job.

Let's just tap into that. And so a common, common theme in what we do every day is meet with that community, those people that are the backbone of this country that are starving for simple answers to get their kids on payroll, save some taxes right off the rata, whatever it is. And I love that bread and butter stuff. And so it's just there's no mystery. It's not like there's this secret thing like,

Mark, how do I save tax? It's just doing the basics and knowing Mark, how do I save tax? It's just it's just doing the basics and knowing it, understanding it, owning it, and and that's so there's no sexy secret there except that you you really can build a wealth that you maybe never imagined

with just those simple base hits. It's not about getting rich quick. It's not getting rich slow. I not about getting rich quick. It's not getting rich slow. I want to get rich slow. Yeah, adding them on and saving the most with with that extra time, right? If you're going to moonlight over and above the

day, the daytime job, it's keeping as much of that as possible, correct? Oh yeah. See, you you give me a day, you know, and there's nothing wrong with that W two day job, work, corporate America. that's cool because it's great. Let's go do your

taxes. Bend over. II can't do anything. I mean, you're screwed but if you've got that small business, now that little 1099, some of you are getting, that's like, that's a golden ticket. Now, I'm riding off home office, auto, dining,

computers, electronics, your cell phone, family members, I'm funding a Roth IRA. You can set up your own damn 401K. Now we're gonna take all that money and start deploying it and we're gonna be efficient. We're gonna be lean and mean. And that I can, you can pay 30% less in taxes on that money than your day job. Your day job, you're screwed.

Let's go get this other money that's a lot cheaper to get. Everybody wants to talk about making money. Why don't we talk about saving money? It's easier to save money than make money. Yeah, it is. That's true. It's a very simple statement, but it's very Trump's in here. They're like, yeah, that's true. It's because it's not always easy to make it. Let me talk to you about this, Mark. You know, they talk about tax brackets, right? And I think some of this terminology, you know, W two's and X bracket, if you're self-employed and small business owner, like that's the lead.

And there's always the talk, you know, like, especially like three or four years ago, but like Trump tastes like an effective 8% tax rate or whatever it was. You know, but, but for it Well, very a very perceptive doing it the right way, but like what kind of tax brackets should the average small business guy be? Well, very a very perceptive question and I'm going to try to answer this simply. So everybody there's seven tax brackets out there and the highest being thirty-seven and a half. Okay cool. everybody kind of gets that, that this is a graduated bracket, that's point number one. So then what we want to look at is what is your

effective tax rate? So like after we take all the killer write-offs we can think of, lots of options, what's that effective rate? And for some people, it could be zero for us to look at. So what's the effective tax rate? So what's that effective rate?

And for some people, it could be zero. For others, it could be 35%. Now, it is generally true, the more money you make, the more tax rate you're going to pay, a larger percentage of your income in taxes. But then we've got strategies and tools For example why Trump was such an anomaly and he really wasn't it's just the Wall Street Journal wanted to point this out Is that he is a real estate professional? I've got his tax return here on my laptop

I got Joe Biden's and his from 2016. He was a real estate professional now You've talked about here on your show all the time If you want to invest in short-term rentals long-term rentals do real estate and deploy money a real estate professional. Now, you talk about here on your show all the time. If you want to invest in short-term rentals, long-term rentals, do real estate, and deploy money in real estate. It's not for everybody. But we have depreciation strategies and investment strategies that can offset my income over here.

Trump had so much in depreciation from his hotels and real estate investments, he was able to wipe out his income from the apprentice and his retail. So his effective rate at the end of the day was very low. Now, someone else who just works a day job has no write offs, makes five hundred grand a year at Verizon as a VP. OK, you're going to be paying 30 percent or more in effective rate

because you're not using the strategies to your in the best way. And I'd like before we started the strategies to a five billion dollar Roth is a tax-free ATM Oh, I'm gonna invest in my health savings account and never pay tax on health care again And these little tools that are out there are amazing and they're not complicated Rich people okay. Here's last point rich people geek out on tax strategies If you want to be rich Start geeking out on some of the stuff and it'll blow your mind because this is where the rich get richer you're going to be rich. You want to be rich, you want to be rich, you want to be rich.

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You want to be rich, you want to be rich, you want to be rich. You want to be rich, you want to be rich, you want to be rich. You want to be rich, you want to be rich, you want to and that's why I really love your energy and your passion on this because it's so real and raw and true. Thanks. We sort of like you said, the rich geek out on it and

everyone else almost criminalizes write offs. Do you notice that temperature? How that's changed like the last 10 years like it's almost like people and own that whether it's lack of determination, laziness, or just knowledge, they'd rather blame or put

this wealthy person in a box and say, oh, they're unethical and bad. Rather than look in the mirror and go, you know what? I could learn a few things. Maybe I'm not going to watch TV every night for three hours, and I'm going to learn how to digitally market online. Or this weekend, I can't. I can't. I can't. I can't I can't. I can't. I can't. I can't. I can't. I can't. I can't I can't. I can't. I can't. I can't. I can't. I can't. I can't I can't. I can't. I can't. I can't. I can't. I can't. I can't

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I can't. I can't. I can't. I can't I can't. I can't. I can't. I can't I can't. I can't. I can part. I led the system or whatever and it's like cheat. There's a difference between cheating the system which is why I love that you're a logger too. Cheating the system because we got to talk about these things and I know that I'm that a lawyer is going to tell me you know what's what's legal what's not legal is cheating the system and using the system and do you just hit the word I wanted to say I gotta dive in here

because this is exactly the word you say. The tax code, people, everybody, this is so, so important. You wanna get theoretical. The tax code is built to motivate people to do things. Get married, pay less tax. A married couple will pay less tax than a single or married filing separate. Go put handicap access in your business, get a tax credit.

Go buy a solar water heater, this, whatever, or efficient water heater at Home Depot, get a tax credit. Go buy an electric vehicle, get a tax credit. Go buy real estate and help others have affordable housing take depreciation. Go do this. Go do that. The tax code, all you're doing is

using it to help America get better and we'll give you a tax break. You get a tax break for doing good things to help the economy and and that's the the mind shift. They're not the the rich are figuring out, hold on, I can make money doing this, save tax, and like you said, it's set up because people smarter than me knew that we needed actions to make this country run because

all everything that you named Mark actually drives an action that keeps the economy and everything else moving, doesn't day job, there's funds you can invest in for oil and gas, royalties, depletion, exploration. And invest $100,000 and probably get a $90,000 tax write-off, make cash flow, and resell it for $150,000 four years

from now. The government needs drillers to go get natural gas and oil in the United States on US sell US oil and we'll give you a tax credit and all of a sudden your effective tax rate goes from 25% down to 10%. You're making money. You're helping America be self-reliant on natural resources and everybody wins and you're the bad guy because you found this kick-ass tax strategy. You know? Yeah, but it's right. I'm going to win this and everybody wins and you're the bad guy because you found this kick **** strategy, you know?

Yeah, but it's right. I'm right. I'm not crazy, right? Like I'm no, that it that the proliferation of the you know, the wealthy getting ahead or all that I got. That's a real thing and that drives me crazy. You're a lion. You're not a

sheep. You're you know, uh one thing they you're going to do is what's the one thing you tell people to stop doing the most? Okay, stop is first. Yeah. So, what are we not? What do we need to stop doing? If I'm a small business owner. Yeah. Yeah. From an account. Stop thinking.

Okay, here it is. It's a mindset thing. It's going to be easy. I I got I got a few others but stop thinking you're going to find an accountant to do all of this for you. Mm hmm. Stop thinking that, oh yeah, as soon as I find that accountant, I don't have to worry about this

anymore. I'm going to find that perfect account that speaks Mark Kohler and by the way, I got a network of a thousand accounts around the country and growing that speak Mark Kohler but you're not going to find someone that's going to care as

much about your finances and future than you. Now you need a good accountant, they're your first mate, but where are you steering the ship? Are you do understand what strategies they're doing? Are you understanding what structure you are and why? You don't have to know how to do an effing tax return people, but you need to know what numbers are on it and how to read it. A rich person knows their tax return. So you just start doing what rich people do. It's super easy. And they work with their advisor. They don't have an account that just plugs all that crap in

and you pick it up two months later. They have meetings with their accountant throughout the year, at least quarterly, and going, hey, I'm going to do this. I'm going to do that. I'm going to start that. I'm going to sell this. And it's synergistic.

So stop thinking you're going to hire someone to of your tax team that you start building today and so your accountant is on the team but you're the CFO, CFO, CFO, or CEO of your tax team. You're going to be the CEO of your tax team. You're going to be the CEO of your tax team. You're going to be the CEO of your tax

team. You're going to be the CEO of your tax team. You're going to be the CEO of your tax team that you start building I'm an entrepreneur. I own five companies now. I've gone down this road. I try to delegate the business away, you know, doesn't work. Good luck. Oh, he doesn't. Yeah, right. You know, like in trouble. Yeah, it's what gets it. I've been in. I've got all the scars,

you know. I've done it too. Yeah. You cannot delegate and the the taxes, you need to be the CEO of your own tax team and it might be a two person, three person team but that's what I just heard you say and I think we try to delegate the taxes away. Yep, I love it. So, um and you lead right into my second point and it's so easy people, this mind shift change. So, number one, you're not going to

delegate away this tax and legal topic although you're going to build a team. So, I love the way you said that, CEO of that team. What you are going to do, that's a little different, though, is I need you to treat your side hustle, your business, like a business. We've got to start knowing there's a set of books. There's a methodology here. I've got to put in tax deposits.

I've got to be engaged in the the process The so many people that have a side hustle they get this mysterious 1099 from selling something on you know They got a tenant from Etsy or eBay or whatever They're getting a little 10 I am for side hustle somewhere and they and they see it as a burden when no no no That's a business treat it like that treat your rental property like a burden when, no, no, no, no. That's a business. Treat it like that. Treat your rental property like a business. When you start to treat your operation like a business, it now starts to work for you. And the profit from it can be redeployed

into assets that work for you while you're asleep. And that money can be used to expand and scale. But if you don't treat your business like a business, it does you no good. that can be used to expand and you don't have to do it all. CEOs don't do it all but you've gotta be involved and you've got to because ultimately, this is what it crystallized for me and I've gone through this myself is like thinking through the

opportunities for the write offs and other things. There's just things that the account is not gonna know. They're not in your business every day. They don't know how this was used or that was used and a receipt is going to tell them that and so Yeah, you have to be involved

And let me know totally and you said this at the very beginning of your show you want to give actionable items Okay Let me give you some actionable all of you at the very least should have a spreadsheet where you track all of your expenses Number two use a credit card or debit card expenses. Number two, use a credit card or debit card exclusively for your business. If you got an Amex, use it for business, use your visa for personal. Try to start separating your accounting. If you're using QuickBooks online or some of the easy software platforms, great.

But just start tracking your expenses. You don't know if they're a write-off or not, but if you don't track them, you can't meet with your accountant at the end of the process and carve out the ones that will really work for you Bad bookkeeping loses money so start with some decent bookkeeping Next actionable get a podcast or some good blogs that you like or video that you follow on YouTube of Tax tips I've got a 30 ultimate tax guide this and I have a podcast or every week We could talk about different tax tips and all that

If you don't like Mark Kohler, it's fine, but you've got to have someone that you're following say, okay Can I write up? What am I doing right now with health care January 15th? That was a big day That's the last day to enroll for health care for 2025 and get a health savings account What am I doing by April 15th? Am I putting you know their college savings for my kids and an ESA? What is an ESA? Well a little you know kind of you tell me the difference between a Roth and an IRA So start getting educated on these things and just start kind of learning and it's gonna be hard It's not gonna be sometimes it's fun. Sometimes it's just like oh my gosh But you're gonna be the coolest person at the next dinner party

You're like, oh check out what I learned. You know, everybody's like, what? You know, I mean, it's just cool stuff. Yup. I love that. That might, that might fall on the what they should start doing. Yes. Yeah. Exactly. Right. Stop. Stop. Stop. Delegating. Start documenting. The D's.

Dude. I gotta write that down. I gotta write that down. Stop delegating. Start documenting. You know, that's good. Uh the interplay. You know, I'm like, yeah, stop delegating, start documenting, you know, that's good. Uh the interplay, you know, I mean, can you hear me now? Yeah, like this is this is what I do. Just write things, you know,

like I like it. Um what uh what else should we be doing, Mark that? I mean, a lot of people, I mean, obviously documenting, taking control. What else? What are things we need to start doing? Here's the number one thing I've been talking about this last year and a half. It's just really evolved to something very

special. And this is for you too, Ryan. Just everyone listening should be doing this. And that is integrating your family into this business. So let's assume you're stopped delegating, you're starting tracking, you're treating your business like a business. Understand your card table moment. When was that moment when I had that great idea? Every big business started out as a small business. And there's no such thing as a small business, it's big ideas.

And you've got this idea and you wanna make it big and you've got this dream. That little nucleus, share it with your family. And how to do that is called the family board. I want you to have a family board and a family office. You don't have to be a billionaire to have a family office. Your family office is that third bedroom down the hall with a couch in it. That's your family office.

Let's start writing off a retreat with our family at least once a year. We could be writing off dining as we go out as a family and talk about business. We can be paying for our kids' cell phones, whether at college or even in high school. Our kids are gonna be helping with the business in social media or stuffing envelopes

or cleaning rental properties. This is family. I mean, do we have to watch the Godfather for crying out loud people? Treat your business like family and have a family board and a family meeting and make sure LLC your corporation more legit Because you're having annual board meetings like all of you know

You should be and you're writing off crap your accountant doesn't even talk about all of my kids It was so funny right at Christmas. My kids love it. They come down to the Christmas tree All my kids are over 18 now. They come down to the Christmas tree. They go to their Christmas stocking We still try to do that. It's fun and they go in there and there's their 10 99 for the year. It's just adorable. They love it. They get their 10 99 for the year for all the money I gave them during the year. Cause I'm taking a tax write off.

They're in a lower bracket. They can pay tax at a lower bracket. They're building their lives. You want money from me? You're getting a 10 99 because you're on my board. I love that. I love that. Mark J. you're getting a 1099. How many from me? You're getting a 1099 because you're on my board. I love that. I love that.

Marc J. Kohler. He is Main Street's tax lawyer, tax advisor, and lawyer in one. I don't want that to get confused. You gotta know that before we leave this episode but Marc, I love that. I'm going to start giving my kid. I got four boys

all under the age of fifteen. So, my gosh, dude, think about this. Your kids don't pay taxes this year on the first 14th grand and change 15 grand change Yeah, the numbers just changed for inflation So your kids could earn fourteen thousand dollars a year at working at McDonald's and pay zero tax No one in America pays tax on their first standard deduction of around 14 grand. Let's say okay So you got four kids that could work anywhere under fourteen grand. Why aren't they working for you? Yeah. You can pay your children under age eighteen. You don't have to give them a

W-two. There's no FICA. There's no FUTA. There's no workers comp and you it's outside labor in the right line item. I teach all that. We talk about on our shows. It's in my books, blah, blah, blah. But your four kids, if depending on their age and what they're doing in the business, let's say we're paying them five to ten grand. Four kids average of seven. That's four times seven. We're at twenty-eight grand. We just got a twenty-eight thousand dollar tax write-off. So you're going to be paying for school lunch, school clothes, soccer, football, all that. You're not paying for it anymore, Ryan. They

pay for it. You're transferring money from your company into their bank account, and they pay for school, lunch, and sports. Now you just got a tax write-off for that. And you can even double down and form an IRA for each one of them. So now each of them have a Roth IRA of $7,000 to pop, if you want. And now that can come out for college tax-free. So I've got my Roth IRA going.

My kids are on the payroll We're having board meetings as a family, and I'm taking my four kids out, and I'm teaching them about business They're selling books at my table. They're at the event checking people in they're ushering people at the event My kids learned that my life is business and my passion is going to be their passion if they want it to be that's how Succession happens so many business owners think they're going to plop a business on their kids when they're 28 years old and they're going to get it. They're not! They're not! And so you've got this incredible tax deduction right now while your kids are under age 18, the board meeting for better asset protection, more tax write-offs, you're

building wealth in their IRAs for them in college, and you're teaching them about your business. There's so many birds you're knocking out with one stone, I can't for them in college and you're teaching them about your business. There's so many birds you're knocking out with one stone. I can't even count them all. I'm doing about one fifth of what you just said. I uh I so uh notes taken and I'm not

the only one. I mean, I'm doing it. They know daddy works. They're integrated. They come. II make it clear. They do things. They're doing a lot of what you said but I'm not filing it the way you're describing. So, uh Ryan offered needs more collar on. And I'll offer these. And I just want to say this for everybody. I know our time is

almost up here. Yeah. But what could happen? I want to warn everybody. Ryan could get off this podcast and go, I gotta call my account. So, he picks up his cell phone, calls his account and go, hey, what the hell, Tom? Why am I not putting my kids on the payroll of my schedule C? I got an S corp over here. I got a 1065 and an LLC over here. Why my kids not on my payroll? Well, Ryan, you can't do that. Well, because it's high risk. And because you know what? Nine times out of 10, he's not going gonna jump on the bandwagon with you because it wasn't his idea And so he's gonna be offended that you brought him attack strategy

This is the problem with me trying to educate accountants because they are so scared that they're gonna go. Oh my gosh I should have told Ryan that that's what's going on in his head, but he can't say that So now he's gonna poo poo mark Kohler, which is BS I've got more credentials and more writings behind me than any other accountant in the country on this. And I'll stand behind it. And I teach other accounts this. They just got to own it.

Go to their clients and go, you know what? I got to be a better advisor for you. We're going to put the kids on payroll in 2025. Let's do it. And Ryan's going to go, great. You're not going to be mad at him. You're going to say, thanks for pulling your head out of your butt. Let's go.

And so people, when you go to talk to your accountant if they're gonna poo poo good strategy and make you feel like a child which they can do You say bye. You're fired I'm gonna go mark Kohler's network of Main Street tax pros around the country interview one of those because they had to take 900 quiz questions watched 75 videos be in a training with mark every day and speak mark Kohler so I can get a consistent Eff questions, watch seventy-five videos, be in a training with Mark every day, and speak Mark Kohler so I can get a consistent effing answer between my lawyer and

accountant. That's where you go and you fire your dumb **** accountant. Sorry, I got a little off the chart there. That's alright. I love it. I think I'd approach my account with, you know, why are you doing this? I I like to

approach mine. You know, kind of like my wife. I like to come with sugar, not salt, you know, like, hey, baby, you know, So, I'm going to, I'm going to go to them gently, you know, there you go. Yeah. You say, go get certified with Mark

Kohler. He'll bring your clients. Uh yeah. No, you know what? I think uh Duolingo, you know, it's it's not Spanish. It's not French. We need Mark Kohler on the Duolingo, you the finance and tax and all that and I know you're not a financial advisor but something tells me a lot of these things are all tied together. Where do

you fall in the crypto bus? Where do you throw out crypto? Okay, I'll answer both those questions. Yeah. First of all, I am a financial advisor. Everybody, your accountant should be a financial advisor. But I'm not, but listen, I'm not an investment advisor. I don't tell you what to buy and sell. That's an investment advisor.

So Ryan, the way I like to say, yeah, I give damn great financial advice. Get out of debt, save more, get organized, and quit effing around on the weekends. That's great financial advice. There's no license for a financial advisor. There's no license for a financial advisor There's a license for an investment advisor, which I am not I'm not gonna tell you what to buy or sell Yeah, so there there's the distinct and I think people should be asking their accountant for financial advice. Holy shit

Tell me what I've done ten thousand consults. You kind of alluded to that at the beginning You're saying mark in ten thousand consults. You kind of alluded to that at the beginning. You're saying Mark in ten thousand consults, what have you learned? And I can share that financial wisdom. That's not a yeah. I'm not. There's not a problem there. Anyway, crypto freaking love it. I've got some XRP that's kicking ass right now. I'll tell you

that. Yeah, me too. I saw that today. It's up like 10%. I bought it like 60 cents like four months ago. So we've hosted now in the last four years, three national crypto tax summits for two days. I teach all the strategies for crypto mining, the metaverse, staking, all the different strategies inside the an IRA with crypto and we have crypto IRAs at our directed IRA company. All of

Mike XRP is in a Roth IRA tax free and so we just love crypto but I'm not telling everybody go don't go buy crypto. You don't know it. You don't understand. You're not making a specific and that's why I didn't ask because I wanted

you to you know, we both like XRP obviously. However, we're not saying go buy XRP. I'm asking you for exactly how you answered, which is more how the tax world and setting it up properly and all that sort of thing, which you kind of nailed. I mean, it's obviously, that could be a whole show in itself. Maybe that'll be part B. Mark? Yeah. One of my trainings for our accountants in our program, they have a whole module on crypto so that they understand how it's taxed, to transact with it how to take crypto in your business The IRS has task force on crypto. It's the blockchain people. It's public There's prosecutions now more and more people trying not to pay taxes on the crypto transactions

Don't go there. And by the way, everybody there's no such thing as a crypto tax There's freaking crypto like the dollar. That's what it is. If you make money, you're not going to pay it away, everybody. There's no such thing as a crypto tax. There's freaking crypto like the dollar. That's what it is. If you make money, you're going to pay tax. Deal with it. So, I teach a lot on that. We got a lot of podcasts on it too. Mark,

what fuels you? Like what, you know, like there's this abundance of energy. Obviously, neither one of us are sheep. Uh you know, so but you know, you're not a mother or a mother or a sheep. So, but you know, you're obviously not watching Netflix reruns but but I always like when I see successful people, I

end up asking this question. I've asked Grant Cardone. I've asked a lot of people and everybody has a different spin on it but what fuels you? What drives success for you? Well, it's the Rockstar Recovery Lemonade. It's hydration and energy boost all in one. Zero What's that? What's that based adaptogen. So, uh, I'll send you a case of this. I love it. I love it. I love it. Yeah. Um, well, what fuels me is I just, I just, there's something deep inside of me. I just love the American dream. I love people being able to

be independent and take control of their own destiny. And if I can be a part of that magic and helping them find their one thing. And I love that from City Slickers with Billy Crystal when he went out to move cattle and he's like, and Curly told him, there's just one thing. And he's like, well, what's the one thing? What's that one thing for you? And building a future and wealth,

I hate to tell everybody, I'm sorry, we don't live in caves anymore. We've gotta make it a priority. It's a huge issue with the quality of life and our relationships. And if I can find out that one thing I love to do, that passion, and I can help you take that to the next level and build it and make

it self-sustaining and you can leave a legacy with your family. That I just love that. And so that's what I'm all about and helping people find their American dream and then live it. The devil's in the details and Mark, you're on it. Hey Mark, work, everybody. Keep up with what you're doing. Well, everybody easiest place in the world, Marc J.

Kohler.com. Marc J. is in Jolly. Kohler K-O-H-L-E-R.com and if you're a tax advisor out there or wanna be a tax advisor, holy, I'll equip you right now. Holy crap to go out and make money as the the industry needs you. The tax industry is on fire, Ryan. It's just really ugly right now and people need good tax advisors. So we're out there business owners My podcast is there our law firm. You can get a consult with one of our lawyers right now to help build your plan It's very affordable. We'd love to be a boutique for the small business owner across America directed

I write anyway, all the resources are at March a color comm workshops The social media I'm just like clips, links to Mark's stuff, and of course, social media. That's where we're growing. That's where we're blowing up and check us out on YouTube. You gotta watch this episode. Mark looks so good. Well, we'll let them forgive the rock star, but you know, uh, we'll get them on the exponent, we'll get them, we'll get them switched, but we appreciate Mark for bringing it from main street to your home. We got you next time.

Anytime right here on right about now. This has been right about now with Ryan Ulford, a Radcast Network production. Visit Ryanisright.com for full audio and video versions of the show, or to inquire about sponsorship opportunities. Thanks for listening.