MARK KOHLERMain Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, LLC · Owner at Main Street Professionals, LLC

Anyone Can Have Family Board Meetings (for Write-Offs)

29 Oct 2025 · 1 min

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In this video, Mark Kohler explains how entrepreneurs can create a family board of directors or advisors to both gain strategic support and unlock significant tax deductions. By formalizing annual board meetings—documented with minutes and accountable plan provisions—business owners can treat travel, meals, technology, and communication expenses as legitimate business costs. Using an S corporation structure, family members, friends, and trusted advisors can be added to the board, allowing the business to justify these expenses throughout the year. Proper documentation turns board retreats and meetings into deductible events, effectively creating a low‑cost family office that builds wealth and provides needed support for the family.

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Wealthy entrepreneurs don't run their companies alone. They need a board of directors or board of advisors to get advice, support, and even unlock powerful deductions. This is where most people leave money on the table. They forget that a business is family and family is business. And you don't have to be wealthy to build your own family office. See, just formalizing annual board meetings is now the creation of your own family office. You can put all this in writing and write off your travel and trips for these special board meetings. See, with an S corporation, you can add family members, friends and trusted advisors to your board. And you're going to hold board meetings on a regular basis where business is legitimately discussed. You're going to justify deductions for travel, meals and technology and even communication throughout the year in order to operate as a board. This allows your business to build wealth and you to get the support you need for your family. For example, if your board meets for a retreat and you properly document it with minutes, the travel tied to that meeting becomes a legitimate business deduction. And in those minutes, you're going to document what's called accountable plan provisions. This is what helps you audit, proof your tax return and take a lot more tax write offs.