Top 20 Year End Tax Strategies Everyone Should Know
MAKE AN APPOINTMENT TODAY! https://kkoslawyers.com/schedule-an-appointment/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies Are you missing out on some of the most powerful year-end tax strategies available to small business owners and entrepreneurs? In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down 20 actionable moves you can still make before December 31 to save thousands on taxes and set yourself up for long-term financial success. From retroactive S-corp elections to HSAs, Solo 401(k)s, and smart income timing, this episode is your complete year-end playbook. Unlike generic tax tips you’ll find online, these strategies are tailored for real entrepreneurs — whether you’re running an LLC, managing rentals, or building your side hustle. Mark and Mat explain how to pay your kids the right way, leverage 100% bonus depreciation on vehicles and equipment, and take advantage of HRAs, Roth conversions, self-rental rules, and tax-loss harvesting before the clock runs out. They also share which moves are still possible after year-end and which deadlines you can’t afford to miss. Whether you’re just getting started or already running a profitable business, this episode will help you keep more of what you earn and make smarter tax decisions for 2025. By the end, you’ll know exactly how to finish the year strong — and start the next one with a strategy that builds wealth, not stress. If you’re serious about saving money, staying compliant, and maximizing every deduction possible, this is an episode you can’t afford to skip! CHAPTERS: 0:00 Teaser 0:33 Tax Strategies You Need to Implement by the End of the Year 2:43 #1. Retroactive S Election on Your LLC 3:36 #2. Re-Evaluate Your Payroll Level 5:01 #3. Make a Sale to Unlock Savings from Your Expenses 6:01 #4. Hold Your Board Meeting During the Holidays 6:59 #5. Qualifying High-Deductible Plan for Your Health Savings Account (HSA) 8:17 #6. Dissolve or Set Up Entities 9:16 #7. Flexible Spending Accounts (FSA) 10:36 #8. Paying Other Family Members 11:57 #9. Contribute to Your Solo 401(k) 13:06 #10. Match & Out or Maxing Out 13:49 #11. Buy a New Vehicle 15:18 #12. The SALT Workaround 16:14 #13. Shift Income and Expenses 17:46 #14. Health Reimbursement Arrangement (HRA) 19:17 #15. The Roth Conversion 21:24 #16. Charitable Contributions 21:57 #17. Buy a Rental Property 23:49 #18. Intangible Drilling Cost Deduction (IDC) for Oil & Gas 24:43 #19. The 529 Plan 26:21 #20. Harvest Capital Losses 30:18 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_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies Meet with a Real Lawyer on Zoom: https://kkoslawyers.com/schedule-an-appointment/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies 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_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies 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_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies Become a Certified Tax Advisor in Mark’s Program – https://mainstreetpros.com/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies Connect: Website: https://markjkohler.com/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies LinkedIn: https://www.linkedin.com/in/markjkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies Facebook: https://www.facebook.com/markkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies Instagram: https://www.instagram.com/markjkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies X: https://x.com/markkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies TikTok: https://www.tiktok.com/@markjkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp601-20-year-end-tax-strategies source
Save on Taxes By Paying Family Through Your Business
This is a huge year-end tax strategy — if you plan to pay your kids, spouse, or other family members for work in your business, it has to be done before December 31st. You can’t roll into January and “backdate” payments or $1099s and expect a tax write-off. The IRS won’t allow it. Make sure it’s legit — have them on your board of advisors or board of directors, document the work, and issue payments before year-end. ✅ Pay your family members now. ✅ Get the deduction this year. ✅ Keep it audit-proof with proper records. 👍 Like & Subscribe for more year-end tax strategies. 📩 Join the free newsletter: https://markjkohler.com/youtube/ source
Is Entertainment REALLY DEDUCITBLE?
Would you like to learn more about protecting your assets and minimizing taxes? Schedule a free consultation here: https://aba.link/0x9 Watch the full video by clicking on the related video. To stay compliant, it’s essential to separate your meal expenses from entertainment. Business meals are typically 50% deductible, but only if they have a clear business purpose, you’re present at the meal, and proper documentation is maintained. Keeping these categories distinct ensures you don’t lose out on legitimate deductions. ——————————————————————————————————— FINANCIAL PLANNING & TAX RESOURCES 📚 Order Your Copy of “Infinity Investing: How The Rich Get Richer And How You Can Do The Same” Here: 👉👉 👉 https://aba.link/IIWbook Order Your Copy of ”Tax-Wise Business Ownership” and find greater success by taking advantage of tax laws for your business. Here 👉 https://aba.link/tobyshop Visit Anderson Advisor’s website for content, like articles, podcasts, and more that we publish alongside my channel. 👉 https://aba.link/tobyaba ~~~~ FOLLOW US: Instagram: https://aba.link/instagram Facebook: https://aba.link/facebook Twitter: https://aba.link/twitter LinkedIn: https://aba.link/linkedin TikTok: https://www.tiktok.com/@tobymathisesq ~~~~ CONTACT US Phone: 800.706.4741 Email: info@andersonadvisors.com Fax: 702.664.0545 ABOUT TOBY MATHIS Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba ——————————————————————————————————— WARNING: I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name, and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture. The information provided in this video should not be construed or relied on as financial, investment, or legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. #deductions source
Is This How Wealthy People Pay Less Taxes?
🔥 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
Why Everyone with a W-2 NEEDS a Side Hustle (Tax Benefits)
Here’s the secret math behind a side hustle — and why it beats working a second job every time. If you earn $1,000 on a W2, taxes and withholdings can leave you with only $600 in your pocket. But if you make $1,000 on a 1099 through your own side hustle, you can deduct business expenses like your phone, dining, auto, home office, and supplies — turning that $1,000 into tax-free income. That’s the power of the entrepreneur mindset. Instead of trading time for taxed dollars, start building a small business that pays you smarter. 👍 Like & Subscribe for more small business and tax-saving strategies. 📩 Join the free newsletter: https://markjkohler.com/youtube/ source
Quick Fix To Save Money This Year
Before December 31st, make sure you dissolve or set up any business entities you no longer need or that you want ready for next year. If you have an old LLC sitting on the shelf, it could be costing you money in state fees, registered agent fees, or even state franchise taxes (like in California). Clean house before year-end so you don’t carry those costs into next year. And if you’re restructuring or planning new ventures, now’s the perfect time to get your LLC or S corp set up before January 1st. Get help from a real tax lawyer for under $2,000 at https://markjkohler.com/youtube 👍 Like & Subscribe for more year-end business and tax strategies. source
Can You Use K-1 Conversion to Pay No Taxes?
🔥 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 the IRS Audit You Forever?
🔥 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
Top 10 SPENDING Methods That Actually Build WEALTH (Pick Yours in 10 Minutes)
Download Your FREE TOP 10 SPENDING METHODS PDF 👉 👉 https://inf.link/4f0c3a There’s a reason your money seems to disappear every month—and the truth is, it’s not you. It’s your system. And today, we’re going to fix that. WATCH NEXT 👉 3 Steps To Build A Passive Income Empire https://www.youtube.com/watch?v=J7OaxPmU3y8 In this powerful new video, Toby Mathis, Esq. breaks down the ten most effective spending methods used by real people who actually stick with their financial plans. From Ramsey’s Zero-Based Budget to the Conscious Spending Plan to Infinity Investing’s 70/30 Rule, Toby puts the top strategies head-to-head so you can finally understand what works, who each method is for, and the traps you absolutely must avoid. By the time you finish watching, you’ll have a simple decision roadmap—so you know exactly which method to start using this month. Toby weaves in real-world examples, quick wins, and even includes a one-page setup guide you can screenshot and use right away. Download Your Digital Copy Of Infinity Investing: How The Rich Get Richer And How You Can Do The Same 👉 https://inf.link/6cd061 🔔 Don’t forget to subscribe for more insights on real estate investing and business strategies! Lastly, leave a comment. We believe in fostering a positive, strong community so please leave your questions, comments, and suggestions. Thank you for watching our content, and join us again soon as we continue to upload videos to the channel regularly. Show Notes: 0:00 Intro 1:25 Method #1 Dave Ramsey Zero-Based + Envelopes + Baby Steps 2:05 Method #2 Ramit Sethi Conscious Spending Plan 2:48 Method #3 50/30/20 Rule 3:32 Method #4 Infinity Investing 70/30 Rule 4:24 Method #5 FIRE (Financial Independence, Retire Early) 5:28 Method #6 Zero-Based Budgeting / YNAB 6:18 Method #7 Envelope / Cash- Stuffing Budget 6:52 Method #8 Pay Yourself First 7:35 Method #9 Debt Avalanche 8:10 Method #10 Values-Based 9:05 Guardrails against lifestyle creep & sustainable habits 10:42 How to pick the right spending method (practical guide) 12:40 Starter “recipes” & anti-creep tactics (raises, auto-increase, etc.) 14:55 Matching methods to real people (5 case studies) 20:00 Free Budget PDF 22:44 Outro ——————————————————————————————————— FREE TAX & ASSET PROTECTION WORKSHOP Register for an upcoming workshop today if you want to protect your business and personal assets from snoopy lawyers and creditors. Save Your Seat: https://aba.link/da997b Would you like to learn more about protecting your assets and minimizing taxes? Schedule a free consultation here: https://aba.link/0baf79 ~~~~ FOLLOW US: Instagram: https://aba.link/instagram Facebook: https://aba.link/facebook Twitter: https://aba.link/twitter LinkedIn: https://aba.link/linkedin TikTok: https://www.tiktok.com/@tobymathisesq ~~~~ CONTACT US Phone: 800.706.4741 Email: info@andersonadvisors.com Fax: 702.664.0545 ABOUT TOBY MATHIS Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba ——————————————————————————————————— WARNING: I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name, and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture. The information provided in this video should not be construed or relied on as financial, investment, or legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. #passiveincome #dividends source
Easy Ways to Use Your Skills for Extra Cash!
Two powerful platforms every entrepreneur should know: Thumbtack and Upwork. • Thumbtack is like a modern-day Craigslist for services. Whether you’re a plumber, handyman, or designer, you can pick up higher-paying weekend jobs in your city. • Upwork is for professionals — engineers, consultants, marketers — who want to freelance online using their existing skills. And here’s the X factor: build something that makes money while you sleep. Whether it’s selling a digital product, doing affiliate marketing, or running an online store, start creating income that isn’t tied to your hours. Learn more strategies for turning skills into income at https://markjkohler.com/youtube source