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

Save Thousands on Taxes By Knowing This About Writing Things Off

27 Nov 2025 · 1 min

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In this segment, Mark Kohler explains that IRS Code Section 62 allows any expense incurred to produce business income to be deducted as a write‑off. He illustrates this with everyday costs such as a cell phone, Wi‑Fi, and a home office space, emphasizing that these ordinary expenses can reduce taxable income. Kohler advises small‑business owners to simply track these costs using a spreadsheet or even a shoebox of receipts, rather than immediately forming an LLC, opening a business bank account, or seeking SBA loans. The core message is to start with basic expense documentation, learn the process on the fly, and avoid unnecessary early overhead.

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The IRS code code section 62 says any expense incurred in the production of income is a tax write off against that income. So if I'm going to go out and make $1,000 in my small business, any expense that I have to spend to make that thousand is a write off. So you say, well, I need a cell phone, I need WI fi, I need a little space in my house for an office. Any expense. And this is what we talk about all the time on this show. Track it, put it on a spreadsheet. Don't rush out and set up an LLC yet. Don't rush out and say I got to have a business bank account or get this SBA loan or all these extra expenses before you do this and track those expenses on an Excel spreadsheet. If you have to put the receipts in a shoebox, you'll learn and figure it out along the way. Sometimes you have to build the airplane in the air.