Mark J. Kohler
👤 PersonAppearances Over Time
Podcast Appearances
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 small, every big business started out as a small business. And there's no such thing as a small business, as big ideas. And you've got this idea and you want to make it big. And you've got this dream that, that little nucleus, share it with your family. And how to do that is called the family board.
Understand your card table moment. When was that moment? When I had that great idea, every small, every big business started out as a small business. And there's no such thing as a small business, as big ideas. And you've got this idea and you want to make it big. And you've got this dream that, that little nucleus, share it with your family. And how to do that is called the family board.
Understand your card table moment. When was that moment? When I had that great idea, every small, every big business started out as a small business. And there's no such thing as a small business, as big ideas. And you've got this idea and you want to make it big. And you've got this dream that, 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.
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.
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 going to 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.
We can be paying for our kids' cell phones, whether at college or even in high school. Our kids are going to 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.
We can be paying for our kids' cell phones, whether at college or even in high school. Our kids are going to 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.
It makes your LLC or 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.
It makes your LLC or 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.
It makes your LLC or 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 1099 for the year. It's just adorable. They love it. They get their 1099 for the year for all the money I gave them during the year because I'm taking the 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?
They go to their Christmas stocking. We still try to do that. It's fun. And they go in there and there's their 1099 for the year. It's just adorable. They love it. They get their 1099 for the year for all the money I gave them during the year because I'm taking the 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?
They go to their Christmas stocking. We still try to do that. It's fun. And they go in there and there's their 1099 for the year. It's just adorable. They love it. They get their 1099 for the year for all the money I gave them during the year because I'm taking the 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 1099 because you're on my board.
You're getting a 1099 because you're on my board.
You're getting a 1099 because you're on my board.
Think about this. Your kids don't pay taxes this year on the first $14,000 and change, $15,000 and change. The numbers just changed for inflation. So your kids could earn $14,000 a year at working at McDonald's and pay zero tax. No one in America pays tax on their first standard deduction of around $14,000, let's say. So you've got four kids that could work anywhere and earn $14,000.