Top 20 Year End Tax Strategies Everyone Should Know

Video Description

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