In this episode of the Main Street Business Podcast, Mark J. Kohler shares valuable insights on year-end tax strategies that can help business owners save money and optimize their financial planning. With over 20 years of experience as a CPA and attorney, Mark breaks down five key strategies that every business owner should consider before the year ends. From retroactive S elections to maximizing health savings accounts, this episode is packed with practical advice for navigating the complexities of tax season.

Here are some of the highlights:

Mark explains the importance of making a retroactive S election to potentially save thousands in self-employment taxes.He discusses how to determine reasonable payroll amounts for S corporations, emphasizing the benefits of strategic compensation.The episode highlights the necessity of making a sale before year-end to unlock deductions for startup costs.Mark introduces the concept of holding a board meeting as a tax write-off opportunity, encouraging listeners to engage family and friends in their business discussions.He emphasizes the significance of health savings accounts (HSAs) and the upcoming open enrollment period, detailing how HSAs can provide substantial tax advantages. Grab my FREE Ultimate Tax Strategy Guide HERE! Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Looking to connect with a rock star law firm? KKOS is only a click away! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!