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In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down why every small business owner should hold their annual Family Board Meeting before the end of the year. This powerful meeting isn’t just a formality — it’s a proven strategy to strengthen your business, protect your assets, and educate your family about wealth and responsibility.
You’ll learn how to make your Family Board Meeting IRS-compliant, maximize write-offs, document your decisions properly, and create a legacy plan that keeps your business and family aligned for years to come. Mark and Mat share real examples, step-by-step guidance, and practical insights to help you get it done right before December 31st.
Don’t wait until tax season to get organized — plan your Family Board Meeting now and take control of your financial future!
Subscribe for more tax and legal strategies that help small business owners save money, stay compliant, and build lasting wealth.
CHAPTERS:
0:00 Teaser
0:40 Benefits of Holding a Family Board Meeting
1:22 What is a Family Board Meeting?
6:31 Benefit #1: Tax Write-Offs
10:39 Benefit #2: Asset Protection
12:46 Benefit #3: IRS Audit-Proofing
14:16 Benefit #4: Support and Advice from Your Family
15:32 Benefit #5: Family Unity & Education
17:23 Benefit #6: Business Continuity Planning
22:03 Benefit #7: Company Compliance
23:41 Recap
26:03 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=msbp598-family-board-meeting-by-year-end
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=msbp598-family-board-meeting-by-year-end
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=msbp598-family-board-meeting-by-year-end
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=msbp598-family-board-meeting-by-year-end
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=msbp598-family-board-meeting-by-year-end
Connect:
Website: https://markjkohler.com/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp598-family-board-meeting-by-year-end
LinkedIn: https://www.linkedin.com/in/markjkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp598-family-board-meeting-by-year-end
Facebook: https://www.facebook.com/markkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp598-family-board-meeting-by-year-end
Instagram: https://www.instagram.com/markjkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp598-family-board-meeting-by-year-end
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TikTok: https://www.tiktok.com/@markjkohler/?utm_source=mjk-youtube&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp598-family-board-meeting-by-year-end
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