Is it Possible to Write Off a Pool?
If you’re building an Accessory Dwelling Unit (ADU) on your property and adding a pool, can you write it off? The answer depends on how it’s used: • If the pool is used only by the ADU tenants, you can write off 100% of the cost through depreciation. • If you and the tenants share it, you can only write off a portion (often around 50%). • The type of rental matters — short-term vs. long-term vs. self-rental — because it determines whether those deductions offset your other income or stay “trapped” until you sell the property. Bottom line: You’ll likely get tax-free rental income, but the full write-off depends on your setup and real estate status. ✅ Subscribe for weekly tax and wealth tips 📩 Join the free newsletter: https://markjkohler.com/youtube/ source
This Tax Advice is DEAD WRONG!
🔥 Want to become Jasmine’s client? Tax Planning & Returns, Accounting, and IRS Tax Resolution: https://jasminedilucci.com/discovery-call 🔥 Join my new FREE Actual Tax Law Community for Free Workshops, Q&A’s and Tax Resources: https://actualtaxlaw.com/ 🔥 Follow Jasmine on Instagram for daily content: https://www.instagram.com/taxleveragejd/ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ABOUT JASMINE DILUCCI, JD, CPA, EA Jasmine DiLucci has specialized in tax since high school when she first became licensed to represent taxpayers before the IRS. Now as a tax attorney and CPA, she works with individuals and business owners across the nation to on Tax Planning, CFO Advisory, and IRS Tax Resolution How Jasmine Got Here… 18: Became an Enrolled Agent, licensed to represent taxpayers before the IRS. 22: Earned an Accounting Degree and a Master’s in Finance. 23: Became a CPA 24: Stepped into leadership as she took over her own CPA firm 26-28: Juggled full-time studies at SMU Law while she was growing her CPA firm. 28: Graduated from law school 4th in her class and became an Attorney, all while managing her CPA firm. 29-31: Expanded her CPA firm to seven figures, with a focus on delivering top-notch service and exceptional value to every client. 32: Launched Tax Leverage to offer free online education and combat the rise of “tax gurus,” aiming to provide real, accessible tax knowledge. Today: She’s dedicated to running her firm and leveraging her expertise to educate and empower others, helping individuals and businesses navigate the complexities of taxes and finance. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Disclaimer: This information on this channel is for educational purposes only and does not constitute professional legal or tax advice. # # #jasminedilucci source
You Can Borrow From Your Solo 401k
Here’s one of the best-kept secrets about the Solo 401k — you can actually borrow from it. Unlike an IRA, where you’re locked out until age 59½, a Solo 401k lets you: 💡 Borrow up to 50% or $50,000 (whichever is less) 💡 Use the money for opportunities or emergencies 💡 Pay the loan back with interest — to yourself 💡 Keep all your repayments growing inside your retirement account It’s a powerful strategy to stay liquid and still build wealth tax-free. ✅ Subscribe for weekly tax & wealth tips 📩 Join the free newsletter: https://markjkohler.com/youtube/?utm_source=mjk-YouTube&utm_medium=description&utm_campaign=shorts source
What Happens When You Transfer Ownership of Your Business?
If you’re changing the ownership of your LLC or corporation, it’s not as simple as just handing over shares or membership interests. Here’s what to know before you make a move: • Every ownership transfer is either a gift or a taxable transaction. • Even family transfers can trigger IRS reporting requirements and depreciation resets. • In many cases, an asset sale is better than a stock sale for tax reasons. • If you’ve already transferred ownership, it may still be possible to unwind or correct it with the right guidance. Before you do anything, schedule a one-hour consultation with a tax lawyer. It can save you thousands and prevent major IRS issues. ✅ Subscribe for weekly tax and wealth tips 📩 Join the free newsletter: https://markjkohler.com/youtube/?utm_source=mjk-YouTube&utm_medium=description&utm_campaign=shorts source
IRC 121 Explained
🔥 Want to become Jasmine’s client? Tax Planning & Returns, Accounting, and IRS Tax Resolution: https://jasminedilucci.com/discovery-call 🔥 Join my new FREE Actual Tax Law Community for Free Workshops, Q&A’s and Tax Resources: https://actualtaxlaw.com/ 🔥 Follow Jasmine on Instagram for daily content: https://www.instagram.com/taxleveragejd/ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ABOUT JASMINE DILUCCI, JD, CPA, EA Jasmine DiLucci has specialized in tax since high school when she first became licensed to represent taxpayers before the IRS. Now as a tax attorney and CPA, she works with individuals and business owners across the nation to on Tax Planning, CFO Advisory, and IRS Tax Resolution How Jasmine Got Here… 18: Became an Enrolled Agent, licensed to represent taxpayers before the IRS. 22: Earned an Accounting Degree and a Master’s in Finance. 23: Became a CPA 24: Stepped into leadership as she took over her own CPA firm 26-28: Juggled full-time studies at SMU Law while she was growing her CPA firm. 28: Graduated from law school 4th in her class and became an Attorney, all while managing her CPA firm. 29-31: Expanded her CPA firm to seven figures, with a focus on delivering top-notch service and exceptional value to every client. 32: Launched Tax Leverage to offer free online education and combat the rise of “tax gurus,” aiming to provide real, accessible tax knowledge. Today: She’s dedicated to running her firm and leveraging her expertise to educate and empower others, helping individuals and businesses navigate the complexities of taxes and finance. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Disclaimer: This information on this channel is for educational purposes only and does not constitute professional legal or tax advice. # # #jasminedilucci source
Can You Have More than 1 Solo 401k?
Let’s clear up the confusion around solo 401ks — and debunk a few myths. 1️⃣ You can have a day job 401k and a solo 401k for your small business. 2️⃣ Your spouse can join your solo 401k, even if they have their own day job plan. 3️⃣ You can have an IRA, solo 401k, and work 401k — all at the same time. 4️⃣ Best of all, you can invest your solo 401k beyond Wall Street — in real estate, crypto, small businesses, and more. ✅ Subscribe for weekly tax & wealth tips 📩 Join the free newsletter: https://markjkohler.com/youtube/?utm_source=mjk-YouTube&utm_medium=description&utm_campaign=shorts source
How to Legally Handle Cash Payments
🔥 Want to become Jasmine’s client? Tax Planning & Returns, Accounting, and IRS Tax Resolution: https://jasminedilucci.com/discovery-call 🔥 Join my new FREE Actual Tax Law Community for Free Workshops, Q&A’s and Tax Resources: https://actualtaxlaw.com/ 🔥 Follow Jasmine on Instagram for daily content: https://www.instagram.com/taxleveragejd/ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ABOUT JASMINE DILUCCI, JD, CPA, EA Jasmine DiLucci has specialized in tax since high school when she first became licensed to represent taxpayers before the IRS. Now as a tax attorney and CPA, she works with individuals and business owners across the nation to on Tax Planning, CFO Advisory, and IRS Tax Resolution How Jasmine Got Here… 18: Became an Enrolled Agent, licensed to represent taxpayers before the IRS. 22: Earned an Accounting Degree and a Master’s in Finance. 23: Became a CPA 24: Stepped into leadership as she took over her own CPA firm 26-28: Juggled full-time studies at SMU Law while she was growing her CPA firm. 28: Graduated from law school 4th in her class and became an Attorney, all while managing her CPA firm. 29-31: Expanded her CPA firm to seven figures, with a focus on delivering top-notch service and exceptional value to every client. 32: Launched Tax Leverage to offer free online education and combat the rise of “tax gurus,” aiming to provide real, accessible tax knowledge. Today: She’s dedicated to running her firm and leveraging her expertise to educate and empower others, helping individuals and businesses navigate the complexities of taxes and finance. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Disclaimer: This information on this channel is for educational purposes only and does not constitute professional legal or tax advice. # # #jasminedilucci source
How to Pass a Business to Your Kids
MAKE AN APPOINTMENT TODAY! https://kkoslawyers.com/contact-us/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform What happens to your business when you retire, or worse, pass away unexpectedly? If your goal is to keep it in the family, this video gives you a clear, realistic roadmap to make it happen without tearing the family apart. CPA and attorney Mark J. Kohler walks through five essential steps for successful family business succession: start planning early, choose and develop a clear leader, lock in your estate plan with a revocable living trust and a business continuation plan, equalize inheritances (often with life insurance), and craft a practical exit plan using tools like asset purchase agreements and promissory notes. You’ll learn common pitfalls, how to fund your own retirement without starving the next generation, and ways to keep peace among siblings while protecting your legacy. If this helped, please like the video, subscribe, and comment with your biggest succession question! CHAPTERS: 0:00 Intro 1:22 Start Planning Early 2:45 Choose the Right Leader 4:10 Estate Planning 6:44 Equalize Inheritances Fairly 7:34 Create the Exit Plan 9:34 Outro Resources: Interview a Main Street Tax Pro that Speaks like Mark: https://taxadvisornetwork.markjkohler.com/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform Meet with a Real Lawyer on Zoom: https://kkoslawyers.com/schedule-an-appointment/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform Self-Direct Your IRA or 401k- Buy a Business or Real Estate with Your Retirement Account (Directed IRA): https://directedira.com/appointment/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform Keep Your LLC or Corp in good standing and Hide Your Address (Main Street Business Services): https://mainstreetbusiness.com/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform Become a Certified Tax Advisor in Mark’s Program – https://mainstreetpros.com/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform Connect: Website: https://markjkohler.com/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform LinkedIn: https://www.linkedin.com/in/markjkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform Facebook: https://www.facebook.com/markkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform Instagram: https://www.instagram.com/markjkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform X: https://x.com/markkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform TikTok: https://www.tiktok.com/@markjkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_content=pass-business-to-your-kids&utm_campaign=youtube-scripted-longform source
Why Do Wealthy People Love Rental Properties?
Wealthy people diversify — they don’t rely on one strategy. They buy rentals, crypto, and other assets that build long-term wealth. There are five key classes of real estate investing every smart investor should know: 1️⃣ Short-term rentals – 100 hours of work in year one = massive write-offs. 2️⃣ Long-term rentals – build wealth and qualify as a real estate professional. 3️⃣ Self-rentals – rent your building to your business for big deductions. 4️⃣ Syndications – hands-off investments with solid ROI potential. 5️⃣ Roth IRA or 401k-owned real estate – grow and sell completely tax-free. This is how the wealthy multiply their money and protect their future. ✅ Subscribe for weekly tax & wealth tips 📩 Join the free newsletter: https://markjkohler.com/youtube/?utm_source=mjk-YouTube&utm_medium=description&utm_campaign=shorts source
Does Your Spouse Need to Be on Payroll?
Many couples think putting their spouse on payroll helps with Social Security benefits, but that’s usually not worth it. A non-working spouse already qualifies for half of the working spouse’s benefit, and it’s based on 35 years of income. Instead, the real reason to add your spouse to payroll is to fund their 401(k) and maximize your household retirement savings. The key is finding that perfect salary level — enough to contribute to the plan, but not so high that you trigger unnecessary payroll taxes. ✅ Subscribe for weekly tax & wealth tips 📩 Join the free newsletter: https://markjkohler.com/youtube/?utm_source=mjk-YouTube&utm_medium=description&utm_campaign=shorts source