Mark Kohler shows how small business owners can set up a family office in a spare bedroom to unlock tax deductions and asset protection. Structure it as an LLC or S corp, hold documented board meetings, and write off expenses like gathering the family to discuss money and business plans.
Chapters
One major tip that every small business owner in America needs to use in their small business is the family office. The family board meeting. You don't have to be a billionaire to have a family office and write off expenses related to your small business. You have a family office. It's your third bedroom down the hall with a piece of crap IKEA furniture in it. That's your family office and it's okay. I've got a family office. I don't need to have full time employees and I can save money by building my own family board of advisors with an LLC or an S corporation doing my annual minutes. Getting better asset protection, More tax write offs My Christmas was a write off. We had a board meeting on Christmas Eve for fun talking about future and money and finances. Families need to be talking about money more talking about the future, their entrepreneurship and it's called a board meeting and you get a tax write off to freaking do it and it makes your company better asset protected.