Write-Off your Home and Your Car!

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#MainStreetBusiness #Home #HomeOffice #Car #WriteOff #TaxWriteOff #AutoWriteOff #HomeWriteOff #Taxes #avoidtaxes #paylesstaxes #tax #realestateinvestment #Markjkohler #KKOSLawyers #markjkohlerLIVE #Entrepreneur #rentalrealestate #taxplanning #smallbusiness #taxlaw

Пікірлер: 209

@keithschuch1833 2 жыл бұрын

Mark, Matt and Corey thank you for the information. Love your show and podcast!

@investinknowledge5304 2 жыл бұрын

Please do not respond to "Mark Kohler's" reply. It is NOT HIM!! FRAUD

@Je.rone_ 2 жыл бұрын

As a tax professional myself, I love that your channel exist Mark

@gogirl8045 Жыл бұрын

Yes..stilll here..You guys are awesome. Thank you 😊 💓

@TinkertownRon 2 жыл бұрын

I just found your page and have already learned more in 2 hours than I have about operating a business in 3 years!🙏🏾

@MrYoshiskakid 2 жыл бұрын

Who could possibly dislike this. It's packed full of information, and I laughed. Amazing, thanks guys.

@ZacsMoneyFAQs 2 жыл бұрын

I'm excited for this video! Your videos are so good! Thank you guys so much for sharing your knowledge!

@investinknowledge5304 2 жыл бұрын

I've been following you for a while. And I'm really grateful that you're willing to share these very important things with us. Thank you..no other words!

@bigt8417 2 жыл бұрын

I love you guys! Such great info. Thanks

@natashaadamson2907 2 жыл бұрын

Awesome video Mark. Thank you!

@TheTinminator 2 жыл бұрын

You guys are the best!!!

@kasiwilliams5927 2 жыл бұрын

Absolutely love you guys!! Enjoy every content thanks for sharing your knowledge.

@alexzanderboehmer7146 2 жыл бұрын

Thank you for all the information you guys continue to put out. These videos are absolutely life changing!

@Cardroid 2 жыл бұрын

very hopeful thanks!

@kathysheeran6589 2 жыл бұрын

Just going thru this with tax cpa. Good stuff. So much well needed advice. Thx for helping me drive my tax return.

@FlyingAnna 2 жыл бұрын

Please make a video about influencer/KZfaqr tax deductions

@betsy773 2 жыл бұрын

Jeepers that was awesome! Thank you

@jolealynn5311 Жыл бұрын

Great stuff guys! And the tax info was extremely helpful!! LOL

@andrewmason2382 2 жыл бұрын

Don't stop rocking the Tommy Bahamas.hahaha...great video!!!!

@eshycmwangi 2 жыл бұрын

Thank you for the Edutainment Mark & Matt… great Tax duo👍🏾👍🏾

@areknizamian1739 2 жыл бұрын

You are so funny I love your personality, presentation and everything else.

@ldstiesto 2 жыл бұрын

El show de los dos amigos. My fav channel to watch and learn. Thanks guys

@investinknowledge5304 2 жыл бұрын

Please do not respond to "Mark Kohler's" reply. It is NOT HIM!! FRAUD

@123uptime 11 ай бұрын

Awesome podcast, informative and entertaining, doesn’t get any better.

@revelation777a3 Жыл бұрын

Thanks for the valuable information ..

@warrenmolina562 2 жыл бұрын

Awesome guys!!

@ronloftis9080 2 жыл бұрын

For my wife's side hustle business, she drives to the same location and back. So I just calculate the number of times she went and multiply by how many miles it is there and back. For my vacation rental property, my mileage is easily calculated the same kinda way....but I have to get there via toll road and use EZpass so there is a transaction record of every time I go there and back. Again, just another mulitiplication problem times the mileage there and back. So nice not to have to keep a log, but yet I have justification.

@paul1der 2 жыл бұрын

Mark, you will love the food at Boise Fry Company. its a local burger place in Boise. enjoy

@artport7 2 жыл бұрын

Mark, YOU are the coolest, funniest, hunkiest grandpa EVER... and I love watching your informative and lively podcasts!!

@amincooper1 Жыл бұрын

I LOVE THIS SHOW 🙌🏽❤️!!!!!!!

@okiejammer2736 2 жыл бұрын

Haha! 🎄😁⚘ Watching this on Christmas AM, 2021. (Don't ask.) LISTEN UP. THERE IS NO JOY LIKE GRANDCHILD JOY. 👣 Thanks for all you do for all of us. Here's to lots of giggles in 2022!

@aaronsalvesen4553 2 жыл бұрын

Congratulations on your grandbaby to be!🎊🎉🥳

@unbelievable9750 2 жыл бұрын

Mark - love the channel. I’m studying for my cpa now and hope to make a channel as well to help educate others. We need to start teaching others about money and tax planning. I was wondering if you could do a video on inheritance tax and give advice to people who had a family member pass away and leave them a house/money. I know the basics, but I’d like to hear the ideas you have on tax planning regarding this. Thanks Mark. Keep being awesome 😎

@investinknowledge5304 2 жыл бұрын

Please do not respond to "Mark Kohler's" reply. It is NOT HIM!! FRAUD

@gilbertmunizofi 2 жыл бұрын

You guys are so funny!! Love your content! Thank you!

@investinknowledge5304 2 жыл бұрын

Please do not respond to "Mark Kohler's" reply. It is NOT HIM!! FRAUD

@bl9536 2 жыл бұрын

You guys are the best

@loripursey8583 2 жыл бұрын

I've been watching your videos for a long time. I love all of them. Thanks very much! Lori Pursey

@Lovepinkdress Жыл бұрын

I love these podcasts! Have learned so much! Thank you! And grandpa still got it 🔥 better looking than Matt😅

@pmstff700 2 жыл бұрын

Congratulations on the grand baby! 59 yr old stay at home mom all those years so I get the empty nest syndrome but man life at this stage awesome!

@user-zs1et3jm5d 2 жыл бұрын

Thanks for watching and commenting don't forget to hit the subscription button for more info... consultation...... and advice....text me on w@sap below::::👇 •plus••one••six••four••seven••five••five••seven••zero••five••two••zero

@cryptical1394 2 жыл бұрын

Thank you.

@user-dl5hs2ez9p 2 жыл бұрын

Got a thumbs up because of the Tommy Bahama comment LOL😆 🤣 😂

@user-zs1et3jm5d 2 жыл бұрын

WH=AT=SA=PP👇👇

@user-zs1et3jm5d 2 жыл бұрын

PLUS=ONE=SIX=FOUR=SEVEN=FIVE=FIVE=SEVEN=ZERO=FIVE=TWO=ZERO

@gabriellamartinez8149 2 жыл бұрын

Hah this is literally my favorite channel 😂

@Brigitte724 Жыл бұрын

Thank you🎉🎉🎉🎉Just Fabulous 🎉🎉🎉

@okpower4959 2 жыл бұрын

I have a room that I use for my home office and I also have a grow room for my microgreens that I sell along with the vegetables and fruits that I sell from my urban farm. I also have an enclosed patio with it's own air conditioner and heater where I grow seedlings and winter crops and store my farming supplies. How do I treat the in-house and the enclosed patio grow rooms and storage areas. I also use over 1/2 of my attached garage to store farming equipment and supplies. I have yet to organize my urban farm beyond it being a sole proprietorship. I need lots of help if you haven't figured that out yet.

@bonniej0 10 ай бұрын

Modulations being a grandparent is so much more exciting and better than LOL. I say that because the grandkids think you're golden that there's nothing they can find wrong with you not like your kids😂😅

@FaithsVessel 2 жыл бұрын

(Due diligence) is a good word

@bradt5426 2 жыл бұрын

Please do a video on a deferred sales trust, Matt and then Mark. Selling a software business and going into real estate

@investinknowledge5304 2 жыл бұрын

Please do not respond to "Mark Kohler's" reply. It is NOT HIM!! FRAUD

@kenyonbissett3512 Жыл бұрын

20% Fed, 7% state, 3.5% county

@apesrus6084 2 жыл бұрын

Totally true about the car color. I have a black Camaro with the classic strip down the middle and yes cops let me go by instead of stopping me. Especially works well in NJ and also having an Irish last name helps too 😉

@erickimla1559 2 жыл бұрын

Mark recently discovered your content. Wow. Any suggestions on a firm you recommend or partner with in Toronto?

@candlesbypurplerose1010 2 жыл бұрын

If a LLC two persons; how do you pay yourselves? Who takes the tax write offs? One person? Both of you?

@macummings7818 2 жыл бұрын

Ow! Mark Kohler, lookin very good, very sharp in that shirt! 😘 ~ your Flirty Fan

@cherylboylesricp9411 2 жыл бұрын

Mark, First...thanks so much for your trainings. I know it is profitable for you, but it gives small business owners confidence to do real tax planning. I have been doing this for many years on the Schedule C which originates as an offshoot to my S-Corp as some insurance carriers can not see that paying my Corp is fine, but feel I still need a personal 1099 as I am the agent-not employed by my own company. UGH. SO...I have taken the house against the 1099 Sch C and then any other expenses so I get it to zero for Self EE taxes. QUESTION: Where you say I can take rental expenses against the S-Corp: 1. can I take only the $5 per Sq Ft or the full deduction...I usually get more itemizing it. 2. Is it just "Rental Exp" or do I need to do anything else with it other than itemize it, is there an IRS form needed to back the itemization? 3. If I can itemize in the "Rental Exp", can I dump the 1099 back into the S Corp and then take out money on another Sch C for management fees so I can pay my

@jennakamila7633 2 жыл бұрын

clue ! PAPP mobile token ! The real adventure begins now

@EvanEvansE3 2 жыл бұрын

When smart people say they're "in the middle" and "they're all [both sides] wrong", they are Libertarians. Matt's a Libertarian, and Mark's a moderate Conservative.

@laurasantiago6280 2 жыл бұрын

Nice

@Uncleamo42 2 жыл бұрын

If I work at home for my W2 job, and also have a side hustle, can I take the home office deduction? My W2 job pays for the office supplies, but I work out of the same place for my side hustle.

@jamesisaacs9005 2 жыл бұрын

If I rent cars out on turo is there a deduction related to those cars?

@WheelTek86 2 жыл бұрын

So I use my new rv for a busy trip I can write off some of its value? I heard that it also qualified as a second home? I deal need some advice.

@OffGridNorthIdaho Жыл бұрын

Mark, no joke my kids listen to these with me, so no swearing or inappropriate stuff. You guys are hilarious and don't need that junk. Let's keep the minds of our young future entrepreneurs clean and appropriate! Thanks.

@MattPryze Жыл бұрын

That’s your problem

@PermanentHigh Жыл бұрын

Sounds more like YOUR problem. Don't try to Police other people's speech. Your kids will be fine. Trust me. Their classmates talk about crazier stuff and say fouler words

@TylerMcMahan Жыл бұрын

Second! Not many adults you can listen to with kids

@awesometaxes Жыл бұрын

🚨🚨🚨Karen alert 🚨🚨🚨

@paolajthesavage 2 жыл бұрын

I love Mark's terrible jokes🤣

@fransiscodonald5012 2 жыл бұрын

the philosophy of the Rich and poor is this: the invest their money and spend what is left depot spend their money and invest what is left

@justinablakeney1089 2 жыл бұрын

it's not how much money you keep but how much money you make How hard it works for you and how many generation you keep it for

@aleksanderdonald2321 2 жыл бұрын

@allmanrobby4434 2 жыл бұрын

I have been researching all this while for a digital assets investment and I found Bitcoin to be the most profiting of them all, I'm definitely bouncing on the opportunity. thank you so much

@user-yh4vn4ln3m 2 жыл бұрын

Really y'all know him?, I even thought I'm the only one he has helped walk through the fears and falls of trading

@ramseyeverydaymillionaires1926 2 жыл бұрын

@@user-yh4vn4ln3m Yes I can believed that, I got victory with him, was so sad after receiving the first pay knowing I invested so low with fear😓😫

@caraelamortatumbey2645 2 жыл бұрын

If you rent in an apartment community, and that apartment community has a business center and you work from there, then theoretically that can be your home office - correct? You pay rent at a property and a portion of your rent pays for the use of the gym, club house and business center. So that business center at your apartment community should be an allowable deduction for a home office in theory.

@vhotzfeld 2 жыл бұрын

You think the AARP card's bad? Expect the Rascal scooter fliers to start arriving. Happened to me. Mark "chilaxin" in the Putt-putt 😀

@sandrasmith4228 Жыл бұрын

I love red cars! Who cares! Life is short! Where do u live? Do u have a red corvette ❤

@1jasminamm 2 жыл бұрын

Where can we find a link to the article you referenced that you write each January?

@chronisterenterprises3068 2 жыл бұрын

What is the “fair home office reimbursement amount” so rent is not inflated? Is it per square foot or other calculation for space?

@gigid9606 2 жыл бұрын

Are the video still applicable after new tax laws

@michaelsang2583 2 жыл бұрын

What If both spouses have separate home office spaces for their separate businesses and filed a joint return? What if the s-corp is a 50/50 partnership with unrelated person, how handle home office and car mileage for that business and where to take the deduction?

@kathysheeran6589 2 жыл бұрын

One remaining question , 2 of us (married) have side hustles. Live in same house. Approx same square feet each for our separate offices. But we one set of bills (Internet , utilitities etc) can we just allocate ? take that total , multiple by 10% (because each of us uses 5% of the sq ft in the house ) then divide by 1/2 and that’s our bus expense for each of us? Thx

@kc6071 2 жыл бұрын

I run a home business, can I have my business purchase solar panels for the home and have it written off in taxes

@TheEvaLewis 2 жыл бұрын

If my home office window needs to be replaced, can my business pay for it?

@DubTuck002 2 жыл бұрын

How can independent contractors (hs and college sports official) take advantage of these tax tips?

@apesrus6084 2 жыл бұрын

Wonder if my wife can do an LLC as a teacher. She’s always doing work at home that in her office and tutors and lots of charitable work. Just wondering if that would ever work as a write off?

@aricanaan1266 Жыл бұрын

The words you were looking for are - inconspicuous, subtle, discreet… (not hide)

@goodsideofcrypto Жыл бұрын

Can auto cost placed in service today be expense deducted against owed taxes from prior years

@dennismc8145 2 жыл бұрын

Can you do a video on a stay at home dad becoming a real estate professional so they can deduct their rental properties and get super wright offs for their 6 figure spouse?

@mtigress4589 2 жыл бұрын

Do you spend 750 hours a year on the rentals?

@jamessydnor7591 2 жыл бұрын

Great information Anyone in Raleigh NC??? I need a CPA who can execute

@DM-kr6vd 2 жыл бұрын

Need to make appt w/ accountant but you're booked for months. Please advise. THANKS

@investinknowledge5304 2 жыл бұрын

Please do not respond to "Mark Kohler's" reply. It is NOT HIM!! FRAUD

@TylerDalton Жыл бұрын

My wife and I file jointly. We both use two separate offices in the house. She’s a free lance marketer and I run multiple small business. Can we both get home write off or just one?

@pingme1x 2 жыл бұрын

Matt needs to use a lapel microphone or adjust the range of the primary microphone. Otherwise, excellent and valuable information.

@omarkeita3181 Жыл бұрын

🔥🔥🔥🔥

@investinknowledge5304 2 жыл бұрын

I'm planning on buying a vehicle within a month or so and I will use it primarily for my business (90%). If the cost is $18k, and it's over 6k lbs, the depreciation is the full cost (if I'm not mistaken). Does any of this affect ongoing payments?

@replyfromalirezatrad..2134 2 жыл бұрын

Thanks for the comments...you can connect me on Whats' App...👇

@replyfromalirezatrad..2134 2 жыл бұрын

✙𝟷𝟑𝟑𝟎𝟖𝟐𝟖𝟔𝟐𝟑𝟔☎️

@rinihaque2946 2 жыл бұрын

can u write off home office for crypto trading (not mining)?

@ksommer8438 Жыл бұрын

Can a storage with filled 95% with power tools, hand tools, materials be written off (monthly fees)?

@christopherarmstrong2710 Жыл бұрын

3:35 Don’t get greedy. Pigs get fat, hogs get slaughtered. 12:04 “If somebody tells me to chillax one more time in Starbucks, I’m gonna throw down some Krav moves.” 😂 19:10 You are the captain of your ship and should be empowering yourself ??? Whatever president is in charge, you have to work around it. ??? If you write-off the vehicle using one method, you must carry through that same method for as long as the vehicle is in service.

@ethereumgirl4136 2 жыл бұрын

Oh hai Corey

@ethereumgirl4136 2 жыл бұрын

Seriously tho, sometimes it would be cool to have the timelines split up so we can skip to Auto for example.... or liquidity provider crypto... or code generated income... or just whatever :)

@cavscout888 2 жыл бұрын

Chillax Francis.

@micon9460 2 жыл бұрын

Mark I was really hoping your big announcement was going to be it's Matt's last show. 😅

@shereew Жыл бұрын

My CPA told me that I need to register a Fictitious Business in order to claim home office deduction for rentals held in my LLC, is that really necessary? Why can't I just take the deduction in my LLC?

@sandrasmith4228 Жыл бұрын

Data would help

@GrandpasPlace 2 жыл бұрын

If I have bee hives on my property 200 miles from where I live, and drive out there twice a month to manage the bees/collect honey to sell. Is the mileage something that can be written off?

@johndeneen980 2 жыл бұрын

Absolutely!

@tvintx9741 2 жыл бұрын

Yes!

@byjamie-hillierrubis 2 жыл бұрын

Stupid question!

@kriss5300 Жыл бұрын

Everytime do taxes and try to write off office n other stuff still just falls under standard deduction

@Maverick-jw5pm 2 жыл бұрын

Punch a kid in the face... best line ever.

@investinknowledge5304 2 жыл бұрын

Please do not respond to "Mark Kohler's" reply. It is NOT HIM!! FRAUD

@sandrasmith4228 Жыл бұрын

U should give the information away!

@garyhuertas1735 Жыл бұрын

Does IRS require you to have an LLC or Scorp to write off 6000lbs car deduction? I have rental business. Thanks

@MarkJKohler Жыл бұрын

To get your question answered, please submit it to podcast.mainstreetbusiness.com/ - thank you!

@Broshorts28 2 жыл бұрын

What about home office for a homeschool mom of 5? 🤣

@AB-fq4mr 2 жыл бұрын

Can you deduct a basement for an S-Corp (my full time job) and then also a home office deduction for the floor above for an LLC (my part time job)?

@tomsmith9011 Жыл бұрын

You can do anything you want you have free will

@chasity8291 2 жыл бұрын

What if you have 2 schedule c businesses and both are run from home, an you take it on each schedule C or just one?

@artport7 2 жыл бұрын

he said that you can only claim it once even though you might run more than one business out of it.

@scottdhoppe Жыл бұрын

Split it among them. Say 60% of the use is for business 1 and 40% of use is for business 2. Split it the same way across each Sch C. Keep a note for yourself about how you split it for your own records.

@CodyHill82 2 жыл бұрын

Question: What if you and your wife have 2 different businesses.? Is it possible to have 2 home offices?

@CodyHill82 2 жыл бұрын

Just answered my question! Lol! Thank you!

@rickprince3765 Жыл бұрын

Is there a law where we have to pay taxes . ?

@nadiava1553 2 жыл бұрын

What about contractors that are on there trucks from one estimate to another 🤔 And that spend a whole day buying materials?

@OffGridNorthIdaho Жыл бұрын

Most of my contractors do actual expenses on their work truck, maybe bonus depreciation on the purchase cost, and also take a home office.

@FKS1994 2 жыл бұрын

Hey Mark, been watching your videos for quite some time now. I've been seeing a lot of Tesla vehicles operating as Uber's in NYC the past year. Is there a tax loophole for this or are the Tesla owners actually working as an Uber driver?

@norseman4763 2 жыл бұрын

I wonder if they aren’t renting their cars out on Turo to Uber drivers? There are some who are writing off up to $25,000 of the purchase price in the first year. That could be part of it, if those are new Tesla’s.

@investinknowledge5304 2 жыл бұрын

Please do not respond to "Mark Kohler's" reply. It is NOT HIM!! FRAUD

@FKS1994 2 жыл бұрын

@@norseman4763 Can you explain how they are writing off $25k? The state tax credit exists but I don't believe there are any federal tax credits for Tesla's since 2018.

@FKS1994 2 жыл бұрын

@@investinknowledge5304 Thanks for the heads up! Yeah, I've seen this fraud in many of his videos.

@rthilson 2 жыл бұрын

@@FKS1994 the 179 depreciation deduction