SUMMARYMark Kohler, a top tax attorney, CPA, and best-selling author, joins the show to break down powerful tax and wealth-building strategies specifically for entrepreneurs and high-income earners. With decades of experience simplifying tax law for the everyday business owner, Mark dives deep into how smart structuring and proactive planning can help you legally pay less in taxes while building generational wealth.Throughout the conversation, Mark unpacks how to leverage S Corporations, write off daily expenses, and even pay your kids while saving thousands annually. He also walks through advanced retirement strategies like the Mega Backdoor Roth and self-directed accounts that allow investments in real estate, crypto, and even cows. This episode is packed with golden nuggets for anyone earning between $250k to $1M+ looking to get serious about long-term financial freedom and bulletproofing their wealth.CHAPTERS02:35 – How the Rich Pay Less in Taxes (Legally)04:54 – Tax Write-Offs You Didn't Know You Could Take07:21 – Why You NEED an S Corporation ASAP09:40 – How to Legally Pay Your Kids & Save on Taxes12:08 – Real Estate + Business = The Ultimate Wealth Hack14:37 – How to Write Off Travel, Dining & Your Home Office17:02 – Buying Cows & Crypto with Your Retirement Accounts19:00 – Mega Backdoor Roth Explained Simply21:08 – What to Ask Your Accountant if You Make Over $250k23:10 – Should You File a Tax Extension This Year?GUEST DETAILSWebsite: https://markjkohler.comYouTube: Mark J Kohler (500k+ subscribers)Instagram: @markjkohlerBooks: The Tax and Legal Playbook, The Business Owner’s Guide to Financial FreedomPodcasts:The Directed IRA PodcastMain Street Business PodcastLive Events: Hosts 2 affordable national conferences annuallyConnect with Rudy Mawer:LinkedInInstagramFacebookTwitter
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My name's Rudy Moore, host of Living the Red Life podcast, and I'm here to change the way you see your life in your earpiece every single week. If you're ready to start living the red life, ditch the blue pill, take the red pill, join me in Wonderland and change your life. What's up, everyone? Welcome back to another episode of Living the Red Life.
Today, we're going to talk about some very important stuff that most entrepreneurs suck at. So you're going to want to tune in. Mark's here with me, the best-selling author, massive podcast, true expert at this, been doing it for many years. He's helped consult over 10,000 small business owners on tax strategies, which we're going to dive into.
His company, his firm, sets up a new LLC every 15 minutes. Yeah, this is the foundations of business, the most entrepreneur skit that's going to cost them probably hundreds of thousands, if not millions of dollars over their lifetime. So I wanted Mark on to come help you guys save a lot of money. And when you save it, it will remember me because you can send it my way. Mark, welcome to the show.
Rudy, thanks for having me. This is such an important topic. And I honor you for talking about the topics that are kind of people think are boring or complex. We're going to break it down.
I think these topics are boring just to open up until you start paying hundreds of thousands in taxes. And then you go, okay, I got to pay attention. It's kind of like your health. In your 20s, 30s, you don't worry, right? And then you start getting sick. Go to the doctors, get bad blood pressure. And he says, you're going to die early. And you go, okay, I got to worry about it now.
So that's why we're here.
Yeah, it's funny. You go hang out at a dinner party and talk to rich people. They love to talk about tax strategies. They're like, oh yeah, I'm doing this. And oh, I'm doing this because that's what moves the needle. It's easier to save money than make money.
you know, especially once you get going, I think even my own journey, we've worked so hard as entrepreneurs to get the business off the ground, to start making money. And then we hit, you know, hopefully everyone in business hits this point where you reach way over the average salary. Now you're making way more than you spend to live. And you've got all this money mounting up.
You want to invest it. You want to do something with it. You probably learned from books and podcasts that you shouldn't just sit in with millions in your bank account, right? You're trying to get it out, invest it. So if Let's dive in, right?
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