Write-Off almost EVERYTHING You Buy - How To

Everyone and it's the holidays and man, there are tax deductions galore everywhere to be found. And I want to help you with your Black Friday purchases. I want you to be smart. I want you to be really strategic. I want the government paying you to buy crap on Black Friday. And I'm not saying crap. We're going to talk about what's a write off for Black Friday and this is going to be great. My name is Mark Kohler. I'm a CPA attorney, author, podcaster. And today's a big day for me and we're going to give away a ton of stuff and a big prize. I think I'm going to throw out a consult with me. I'm going to throw out a personal phone call from me to talk about your business. Any questions you might have today I hit will hit during this show, during this broadcast right here. 300,000 subscribers on YouTube. And people, if you're a small business owner, you know how hard that is because I'm not out trying to do cat videos and kids falling off mountains and mountain biking or whatever. It's crazy. You know, I'm trying to just produce quality core content as as many of you are in your businesses and getting people to subscribe to that. And I want to say thanks to all of you that are here watching today and subscribe. That means a ton. It's taken me over 10 years of shooting videos and trying to get that out there and spread the good word about small business and entrepreneurship and, and how to do it and how to scale. And so for the I'm going to tell you how to do this, but my 300,000th subscriber is in this today with you and me here live. And I'm going to give away a ticket to my virtual workshop, a virtual ticket to the workshop here in Phoenix in two weeks. Give away a bundle of all my books and a phone call consult from me personally this weekend to talk about your business. And I'm going to tell you how you can get that and be in the drawing here because we're going to try to find that 300,000subscriber from those of you that subscribe and comment here in the, in the chat that you've subscribed and liked this broadcast and subscribed to YouTube and freaking. You put that in the chat, you're in the drawing. So it's gonna be good.

We've got, we've got eight left, mark. Eight left, eight left to hit 300.

And then we're gonna, we're gonna hit 300,000.

You guys gotta subscribe to us. If you're not already subscribed, you must subscribe now.

See, my brother's out there unsubscribing. He's like, I'm not gonna let him do it. Unsubscribe, unsubscribe. All right. Okay, now here's the deal. One in three Americans are a side have a side hustle. I know that's my tribe. That's you people. If you're trying to build wealth, pay off debt and have a future and a little bit of financial freedom, that's a side hustle. You're gonna grow your wealth making money on the side, having the day job and your career and the camaraderie and the benefits, that's awesome. But at least let's have a side hustle now for them. You go all in on business, that's great too. But we're all in this together. And when we see a special on Black Friday, we got to think, can I use this in my business? I'm going to give you a bunch of ideas here because I want your Black Friday purchases not on your personal debit card. I want on your business debit card. Some of you are like, well, I don't have a business debit card. We'll talk about that too. But I want to answer your questions today on how to make your Black Friday purchases a write off. It's going to be awesome. We're going to do it. And I'm going to give away some books. I'm going to give away a huge gift to my 300,000 subscriber buried in you today. And I'm going to give away a virtual ticket to the workshop next in two weeks. And it's going to be two days of just business scaling, structure, tax and legal write offs and strategies to build your business. So thanks for being here. I'm just, this is so fun. All right, let's get to it. Now. If you have a side hustle and I, that's you. I know you're watching because you got one. Whether it's rental property, you're driving Uber, you're a landscaper, a musician, and you've got a manufacturing small business. You're, you're doing catering. You've. I've got a contractor, I've got just a whole rental property. Owning rental property is a small business. So thousand small businesses, right? A thousand of you. And an athlete is a small business owner. I mean, if you're getting to 1099 from freaking anywhere. You're a small business owner. Do you have to have an llc? No. Do you have to have a business bank account? No. Now, we may want to get there and I'd be smart and we're going to get structure and I'll throw up the whiteboard here and we can talk about structure and getting to a better level of audit protection and stability and good asset protection so you're not sued from your activity. But to take a write off this weekend, you don't have to have a freaking LLC or a corporation or a business bank account or a business credit card. Now for those that do, let's make sure we're in that lane where you're not using your personal account to buy stuff this weekend. And I've got a Black Friday special myself. 25% off my workshop in two weeks. It's going to be here in Phoenix. I point here because it's in the, it's going to be in the building and the auditorium here in our office complex right here behind me, like 200 yards that direction. And then we're going to virtually broadcast it. We've only got about 15 seats left in person. If you'd like to come, please do. It's December 2nd and 3rd here in Phoenix. Lunch provided both days. It's going to be a smaller group. I'm going to recording it and it's going to go out across the country. So you can participate on the virtual as well. 25% off. And I'll give you the ways to get in on that. Okay. So every small business owner to me should have some of these expenses this Friday. Electronics. Here's some of the list I wrote down. Cell phone and cell phone accessories. As long as you can show the IRS you have a home phone, your cell phone service is 100% write off. Your cell phone and accessories is 100% because you need that cell phone for your business. There's been the IRS acquiesced on this years ago and this is a big deal. And if you have your kids or family members in your business helping, even on the board of advisors, board of directors, which is our topic next week because as we go into the holidays, I want all of you to have your annual board meeting with your family. Maybe something you're going to do tomorrow at Thanksgiving is after dinner, have a board meeting. Well, that dining and the travel to go wherever you're going, auto or hotel or air or whatever, is not a Thanksgiving dinner. It's a company meeting. Seriously, have a legitimate company Board meeting and talk about your business. Get your family's advice. So if you're buying stuff for your kids and they're helping in the business, that could be a write off as well. So you're pre buying your Christmas gifts. Apple smartwatch, the Apple watch. Smart watches, those aren't watches. See, this is just a regular analog watch or say analog, whatever. This is not a write off. This is considered a personal property accessory. It's not for business, but once it becomes a smartwatch, I'm now using it with my phone to communicate for my calendar and for business purposes. That's a write off. Laptops, iPads, cameras, mouses, mouse pads, headphones. I'm using these for my business education. So I'm listening to my continuing education on my podcast for my business. I may not write off 100% of those, but I can at least do half of them. I'm going to buy books, any materials that you're buying. Oh, I don't want to go off electronics. So anything electronics. I would even consider a drone, a camera. If you're doing social media, you need a camera, you need software for that, you need editing devices. You might again use a drone to take video of your rental property or your business to create videos for your social media blah. So anything electronics, I'd be looking for that and just be able to show I need to use this in my business. Next is office supplies. This is again, everybody, we're going to talk about your business here in a second. But printers, paper, pens, poster boards, think of bags for your laptop, bags for your supplies. Anything at Best Buy, I love to go in there and look at and Staples, Best Buy and Staples, you're going there, Office Max to look for supplies that you can use in your business. And when you're doing your Black Friday shopping, be looking for the types of stores that would help your business. I'm just thinking here, if you're a caterer, if in your food prep and you're doing you have a small restaurant or something like that, and catering is a huge business, millions of caterers out there in the country. Anything you want to be looking at? Williams and Sonoma, Crate and Barrel, you want to be thinking what, what are their Black Friday specials? Because if I can use it in my catering business, I just got a write off for that Black Friday special. So now the government, you may be saving 20, 30% in taxes to buy something. So whatever the discount is at the store, let's say it's normally $100 and the store's giving you 30% off. So now it's to $70. And then you're getting a 30% tax savings. It's going to reduce your tax bill at the IRS by 30%. Let's say 25 Fed, 5 state, something like that. Now you're getting that extra bump of. Of about $21 off the 70. So you've almost created a 50% discount on anything you buy on Black Friday. It would, based on those figures. And everybody's a little different, but that's what you're. That's why it pays to make sure it's a business write off. Let's say you're a contractor or a landscaper or plumber, electrician or anything. You want to be looking at the Black Friday specials at Lowe's and Home Depot and Ace and anything that you think could be purchased to be used in your business. Out on the, out on the streets. You know, you're working manual labor. You're like, I need these tools, equipment. I was just thinking, too, that if you have an office or an office building or a warehouse or a shop, could you buy some things at Ace to enhance the shop? Maybe you buy another fridge, some kitchen supplies or things like that for the office. And if you have rental property, oh, my gosh, you're going to be thinking, ooh, there's some hoses, some landscaping material, sprinklers. Who knows what you might need for your rental property. And you're like, this is the time to buy it because I'm getting my Black Friday discount now. I'm going to do questions here in a moment, and I have a feeling we broke our 300,000. I can just feel it because I know you're watching and you're subscribing to YouTube and you're putting it in the comments that you liked and subscribed. And folks, one of you are going to be a winner today. The last thing I want to throw out is music.

Six more subscribers, Mark. Six more to go.

Okay, we're waiting here. We got just. We just need a few more. So if any of you. The problem is many of you are already watching on YouTube or already subscribers because you got a ping. I went live. But some of you that are maybe watching on Facebook, you can maybe share.

Share our live link.

Share our live link. In fact, I had a friend this week that was like, I called. Actually, it was my daughter, too. I called my daughter and we were on FaceTime and I was telling him, hey, I'm getting close to my 300,000 subscribers. And her two friends in the car. I'll subscribe. And so, boom, boom. There was two more. Boom. And so if you put in the comments, I just got my mom to subscribe. I just got my brother to subscribe. I just got my sister to subscribe. Send it out to your text group and say subscribe. Mark Kohler. I'm trying to win a. Win a consult with him. Musician. This is a good one too. A lot of you are budding musicians. You might be putting some music out there, trying to get it on itunes and other platforms. I know James, my producer in the studio, he's got a side gig as a musician now. We're talking on Friday, right? Anything that supports your business as a musician is now a write off. Chords, microphones, boards. And what are those things you step on when you're playing the guitar? Those are. I can't. I forgot those.

It's a guitar pedal.

It's a guitar pedal X pedal. All right, cool. The one that I thought of, guys, is my brother sent me this one we were thinking about. This is for the, for Christmas for a lot of folks was the new Artifone or Artifon. It's a little pad that you can make music on and kind of mix music. They're kind of fun. They're good stocking stuffer. Look at those. And so again, if you have a musician side to your life and you're trying to make a little money at it, that becomes a business write off. Now, I know we've got the hobby loss rules. I write articles on this. And I called the Orba. Oh, there's The Orba.

The Orba 2. That's what he is talking about.

Okay. All right. The Orbit 2 is a little mixing device. You can handheld. That's supposed to be the band in your hand.

Basically. We got five more subscribers, Mark. Five more.

Okay. Okay, cool. We're getting some subscribers coming in right now. We're Gonna hit our 300,000 shortly. Last thing is, my daughter Allison runs a sewing apparel clothing line that she's building on. She sells patterns, she's constantly sewing. She's creating sewing videos on YouTube. And she was in the market recently for a new sewing machine and an embroidery machine and a stitcher and all these different things that are seamstress love. Well, that's where she should be looking for Black Friday specials. Okay, so we can talk about travel, we can talk about your business structure. We can talk about write offs for Black Friday. James, I need some questions here. Do we have any in the chat Anybody with a question on your small business and what's a write off? Let's go there, James, anything we got?

Diane, she's going to go ahead and read off a few questions for us. The first name was Doug Sugar and he was asking about the cell phones for his business.

No, that was Danny. Hold on.

Okay. Danny Schaefer had a question. He was wondering if I could have a cell phone for each business. Can I write each. Each cell phone off for each business?

Multiple businesses. All right. And everybody can hear you talking here, James. Right. So I don't have to repeat the question. All right. So, yes. I mean, if you've got. I mean, some of you. It makes me a little concerned that Danny needs burner phones for his different folks working on the streets. But that seems like better call Saul type move. But yeah, if you need different cell phones for different businesses, I have no problem with that. It's like having three businesses with different phone lines and phones hanging on the wall. I mean, if you've got a business, it needs a phone. Now, you may want to be thinking efficiently, is this cost effective for me? You might want to go Google voice on these different businesses and have one cell phone, but use Google Voice numbers for these different businesses. But if you really are going to buy separate telecommunications for different businesses, that is definitely a write off. I'm loving it. I just got a text here with a question too on the llc. And I've repeated this earlier. Let's go to the whiteboard here for a moment. I had a. I had said that we don't have to have an entity. And I want to just kind of give a visual of what this kind of really looks like. And there we go. Want to get over to the whiteboard and boom, there we go. Okay, so everyone remember when you're structuring your small business and this is how you scale, this is scaling, you want to grow that business, you want to be making more money, we got to have the foundation to scale upon. And so our trifecta down here is your revocable living trust. And everything's flowing down into your 1040 tax return. We get it. But for all of you side hustlers out there, you might be a sole proprietorship. You don't even have an llc. Well, your next bump is to the llc. And then your bump after that is to go to the S corp. And to convert an LLC to an S corp is just a couple hundred bucks. And we file the forms at our law firm for clients. And when we're going through that transition, it is really, really common

to

keep the LLC and operate the llc, get your ein, use this bank account, get really good at running the books for this llc. And then when the time comes we're going to convert to the S corp and then that's when you start your payroll and we get our payroll going and the payroll helps us get over the edge on saving on the self employment tax and that's really where we're headed. But everybody over here that you're just a side gig with a 1099, don't worry about having a separate bank account per se, I'd like you to. And that means you might go set up a dba because most banks aren't going to set up a bank account for you unless you have a doing business as registered in your local area. And our law firm can help with the DBA and any of the counties across the country or states. But get your DBA and go open a bank account. And then when you transition to the llc, you've already gotten to some good habits. But any expenses you incur, even out of your personal bank account on Black Friday, those are a write off. All we have to do is show that they were related to whatever your business is. What is this business that's giving you this 1099? All right, what's our next question? So don't worry about the LLC. I just got that here first.

We have two more before we get to our 300,000. So come on.

Oh great.

Subscribe. Okay, our next question is West Coast Longi 85. He wants to know how far do you have to travel for a write off.

Oh, great question. Okay, I'm going to get off the whiteboard here. So how far do you have to travel for that write off? Well, this is a Supreme Court decision when it comes to the definition of business travel is outside of your normal commute. So let's say right today I'm here in Phoenix. So if you're in the Phoenix area, Phoenix metropolitan area. And I'm going to go over to grandma's for Thanksgiving dinner and she lives in Phoenix, that ain't traveling. Oh, but grandma lives down in Tucson. Okay, now I got to make the drive to Tucson. And now I'm outside of my normal weekly daily commute area. So I'm going to write off the miles to go down and have a board meeting with one of the most important people on my advisory board. That's my grandma. So I'm gonna go meet with grandma and I'm gonna write off the auto mileage to get down there. And if I pick up any food along the way for our board meeting in which we are having, maybe some turkey and cranberry, that's gonna be a write off. Cause I'm having and I'm not making a sham out of this. I want you to involve grandma in your business. Your grandma, your mom, your parents, your aunt, your uncles, they've got so much life experience. Talk to them about your side hustle, talk to them about your struggles you're having, your business, you're trying to scale, you're trying to make more money and bring that up and talk about your plans for the new year. That is a write off. So now you're outside of that normal commute. I headed to Tucson. Some of you might stay the night. You're like, oh, the cousins are over. I do not want to stay in the house and they've got all those cats. I'm going to stay at the local Hampton Inn, then drive back in the morning. But if you get on plane, you have an Airbnb, you have Ubers, you have all sorts of goodies. Now on this board thing, everybody, let me, let's go back to our trifecta. You might have an LLC with some rental property. You might have an LLC for your small business with your 1099. Maybe you've graduated to the S Corp. But here's the deal. Even if you're a sole proprietorship, you can have what's called a board of advisors. And you just pull out a piece of paper and you take notes and you say, here's who's present and we're going to talk about the business. Let me move this down a little bit so you can see it better. Board of advisors. And I'll spell this out. Advisors. And we're going to talk about the minute, the business. And we're going to have minutes. We're going to write down the minutes of the meeting, who was present and you could zoom in some people for that call. But you had to travel somewhere to have that meeting. If you have a corporation, you're going to have a board of directors over here, this LLC with these rental properties. You got a board of advisors there. And so if you're traveling somewhere for the holidays and you're going to go look at your rental property and have a meeting with some family or best friends. Let's write that off here in your board of advisors meeting. So now we've got travel and dining expenses and we're going to talk more about that Next week, too. All right, any other questions out there with our fans today?

Okay, we're at one more subscriber till we hit 300,000 mark.

I mean, oh, my gosh.

Talk about this a little bit. Could you give us a recap of where you started?

Okay, well, so I started in a van down by the river hawking, you know, small business strategies, tax, setting up entities for clients.

300,000. We just hit 300,000 subscribers, mark three. Boom.

300,000 subscribers. Yeah. 20 years ago, I started out as a small business tax lawyer in a small town and realized that I needed to expand my vision because I'd help every small business owner on Main Street. And then I was going to have to start doing divorces and chasing cars and bankruptcy and fights and battles, and that wasn't me. I love small business. So I started teaching classes, I started getting on the web. I started doing some YouTube videos. And for the last 15 years, I've been on YouTube and a podcast and writing articles and a blog and a newsletter every week. And be there's times where I'd have maybe 50 opens on my newsletter. I was just getting started. And so any of you that are out there trying to start your small business, and you might be a. A life coach, you could be a landscaper, you could be a consultant, you could be a caterer, and you're just doing food for the local businesses and you're trying to get your name out there. The trick to building those followers is being consistent, giving away great content, great information. You're giving out recipes, you're giving out advice, you're giving out tips, make deposits with people. Then you're allowed to take a withdrawal once a while and go, hey, I'm doing a workshop or I'm selling something. Please believe in me. I've been believing in you. So I've been doing that for 15 years. And we hit 300,000 subscribers. So we're going to choose a winner here. Of those subscribers that subscribe during this podcast, we're going to choose someone and give you a bundle of all my books, four or five books here. A virtual ticket to the Phoenix workshop in two weeks on December 2nd and 3rd. And I'm going to get your info and give you a call in the next couple days. We'll find a minute and maybe if you, I could help you with the structure your business, point you in the right direction. Maybe you'll need the legal services or accounting, maybe nothing at all. You can just ask me any questions you might have, and I'll try and help you out, but that's what we're doing there. I'm also going to give away a bunch of books here in a minute. I want to give away some tax and legal playbook and probably another virtual ticket here in a minute. So 300,000 subscribers. Thanks, everybody. How exciting. I'm gonna have a drink to my sponsor, Rockstar. They gave me the energy for today that I needed to show up and be present. All right, I'm sorry, what's our next question there, James? Diane, you got something?

Diane's gonna go ahead and handle that.

I have Rome Roma long and their question is how can I write off smartwatches for my kids who work in my business?

Oh, okay. Well, here's a good one too. I'm going to put this with it. You remember ipods? You know, I could listen to music on my little ipod. Not my phone. I had to have both of them. Now we're listening to music with our phone. Well, one year now this is going to relate to the watch question. One year we wanted to get all of our staff members are pretty cool Christmas gift. All of our employees and we probably had about 15 employees. This is a, you know, when ipods were around. So this is good. Eight, nine years ago. And so we bought everybody an ipod. Well, buying someone an ipod. Hey, James, we can hear you if everybody else can too. If you're guys might want to mute your mic while you're in between these questions. But we had all these employees that we wanted to give a gift and so we bought them ipods. And that would normally not be a write off. In fact, we would have to put it in their W2 or just pay tax on it. But we realized they weren't just ipods, they were learning devices. And we put all of our training and a bunch of podcasts and the digital books and all of this information on an ipod and said, okay, this is your learning material and we need you to listen to all this information. And here's an ipod. Now if you end up using it for personal use, that's on you. That's up to you. But we need you to have this to listen to our stuff. And some people are like, I don't even like ipods. That's the reason why it's a write off is because we didn't force this. I mean, well, we forced the ipod learning system on them, but the ipod could be used by them personally if they wanted. Well, this is the Apple watch story. If you've got kids, family, real, you know legit third party employees in your firm and you're going to give them some learning material and you need to, you're going to be calendaring with them and you're going to be giving them pings and texts and you need to stay in touch with them. I think the Apple Watch could be an important electronic device to help you in the efficiency of the operation of your business. Now I know this is a kind of a gray area and you don't want to get too aggressive here. You might want to write off a portion of those watches, maybe try to write off all of them. And I don't know what these family members or third parties are doing in your business. If they're just. If this is a 8 year old that's shredding paper in your home office. I may not write off $1,000 Apple Watch, but if this is a delivery person that's driving your company vehicle and you don't want them texting and driving and you're going to be sending messages on where the next delivery is. Do you think an Apple Watch would be a write off? Hell yeah. So you got to find the balance of being ethical and honest and using this equipment properly for your business and then justifying it with family or third party employees. So good stuff. All right, let's give away some books. Give me some winners. I want some winners. Then we're going to announce our 300,000 subscribe winner here in a minute.

I have Doug Sager. He was the first one on live today.

Okay, Doug Sager wins a tax and legal playbook. I love it. For any of you that are winners today, let me just throw this up on the screen right now. Write this down. Doug, we need you to go to dianearkjkohler.com just email Diane dia2ns earckj kohler.com and just let them know I was the winner and give them your name. We'll verify it's you, we're writing all your candles down and information and we'll send you a tax and legal playbook. And if you already have one, it's a great stocking stuffer, Great Christmas gift for the entrepreneur in your lives, people. My books are so helpful for entrepreneurs when you're building your structure to scale and build and grow your business. Okay, who's our other winner?

Anna Correlis.

Okay, Anna. Okay, I think we got that. Give me another winner. Let's give away another book.

Carlos Ivan Solis.

Carlos Ivan Solis. Okay, we got our three winners there. Make sure you email Diane and let her know that you were listening and watching. Okay, let's do another question. Then we're going to come back and give away a virtual ticket. This is a $300 value. Now this, normally the virtual ticket is 400 bucks. This is two days of training. I'm working my butt off for this event and it's a lot of work bringing team members, all the electronics, all of the broadcast equipment. It's very expensive to do a two day live workshop and I'm to prepare for it and deliver it. And so $400 is so freaking valuable. And I have so many people that say you should be charging more and more. And I probably will be in the future. So get, get it while it's good. But you can register for the workshop@markj kohler.com and my Black Friday special starts now. It's 25% off. That's 100 bucks off the virtual ticket. If you're here locally, it's another 150, 200 bucks off the the in person ticket. 25% off Black Friday Special. And I'm going to give away a virtual seat here after our next question. What do we got?

We got a question from Jay Brown. Switching from a sole prop to single member LLC and updating my W9s. Since W9 line 1 is personal name and tin is still Social Security number, do I, do I really need to submit a W9 for just line 2 LLC name. Does that make sense?

Yeah, I'd like to even pull up, I might even pull up the W9. Let's. While I'm pulling up a W9, let me throw this out for everybody. Excuse me, is when you're setting up an llc, I like my clients to get an ein. Let's get rid of the W, the Social Security number. So people, when you're a sole proprietorship and you're getting a 1099, you're going to fill out the W9 and you're going to put your own name out there and your Social Security number. That's cool. It's no problem. But once you set up an llc, let's start acting like a business. Let's start building corporate credit. We're going to go into the bank with this ein. We're going to maybe convert to an S corp with that EIN. We might set up a solo 401k with that EIN. I want you to use that ein on your schedule C. And so for those of you that are debating not even getting an electronic identification number when you get your llc, I really Encourage you to go with. Get rid of your using your social. So let's go over here to the W9. Let's just look at this, everybody. Man, how technical am I going to get here with you guys? Okay, so here's your W9. And we see this line one name is shown on your income tax return. Okay, that's fine. And the business name is on line two, which I love. And then you're going to check box, the first box on line three. Sole proprietor or single member llc. We want to be putting in down here in part one. I wonder if I can write on this. I can't write on this, but maybe you can just see. Try to scroll up here. You can see right here in part one, don't fill out the Social Security number. Put in your electronic identification number. And some of you are like, well, where do I get the ein? And you can do an EIN application. In fact, we can just practice that right here. Show all of you where you go. So you can say, I want to get an EIN application. EIN app cation form. And this brings up, oh, the SS4. Oh, so beautiful. So here's your SS4. And we do this for clients when we set up your LLC for you. But you're going to put your Social Security number here on line 7B. See that line 7B, you'll put your social. But then they're going to kick out, up in the top right hand corner, they're going to give you an EIN. So now your LLC has an EIN. And when you fill out this form, see in 9A, you're going to put down here, I'm either a sole prop and then if incorporated, we'd have that there. And it's just really straightforward. And our office is going to be able to help knock this out for you. And you see line 8C. Yes, the LLC was organized in the United States, blah, blah, blah. So anyway, I think this is a great time to make that change and switch over to electronic identification number when you set up your LLC. So I hope that helps. Use that on the W9. Get out of your social, get rid of your social, get it off the planet, get it out of here when you're. When you scale up. Because people, I want you scaling up off that sole prop. You're going to let your Social Security go away. You're going to get an EIN with the llc, the corporation, and move on.

Mark, I got a really great question that'll set you off for the 300,000 subscribers. Okay, so misled Rilla is The name. Do I really even need to pay taxes?

No, you can go. You know, you don't really need to pay taxes. Wesley Snipes, he was in prison and he loved it. He said it was a really great experience. He made a lot of new buddies. And Willie Nelson, I mean, he was, he was really excited to go to jail. He finally cut a deal with the IRS because he said, well, maybe I should pay my taxes. So, yeah, I mean, if you, if you want to make some, a new, Create a new circle of friends, don't pay your taxes. You're going to be in the prison system. It's a lot, it's very exciting. You know what they call it? Three squares a day, you know, so good stuff. Of course you're gonna pay your freaking taxes. Are you kidding me? Leave America. Go. Get away. I. You're enjoying this freaking America. It's great. I know it's not perfect. I don't care if you're Republican or Democrat and you hate the roads or you hate this. You know what, go hit the road. See what it's like in a second or third world country. Yeah, I think we can pay our tax now. Do you have to pay taxes if you make under a certain amount? No, we always want to file the return, let the IRS know we're alive. File a tax return. If you don't owe, you don't owe. And I want you to work on your write offs so that we get you down to hardly any taxes at all. But you got to still file your freaking tax return. Because the irs, they're like a boyfriend or girlfriend that you take on that first date, like, hey, let's go out. Oh, so fun. And then you never call them back. That's not good. You're going to get your car keyed. Not good. IRS is going to get pissed. Where'd you go? Why'd you ghost me? Don't ghost the irs. File your tax return. If you owe tax, pay it. Enjoy the beautiful benefits of living in America. Look at this scene right here. This is beautiful. This is the Tetons. It's right outside Jackson Hole, Wyoming. Right on the other side, those Tetons is Idaho. And our taxes pay for this cool looking road all. You know, the signage right here, the safety and security we have. But I know we're jacked up in this country too. We're not perfect, but pay your taxes, be a part of the system. Play by the rules. It'll set you free. You want to scale your business, Pay your taxes. You want to build More wealth, pay your taxes, get on the grid, get on the system and it's not worth it. It's not worth it. I have so many clients that have tried to get out from under the living on the in the dark. It's not worth it. They want to build credit, they want to buy a home, they want to get a 401k. They want to buy rental property, they want to not be scraping by month for month. Paying taxes is the key that unlocks that door. It's good stuff. All right, let's give away a virtual ticket. How's that, James?

All right, let's give away virtual ticket to crypto Portuguese.

Crypto Portuguese. Yeah.

Someone who's been a subscriber for a while and helped us out through this process of getting more subscribers actually while we were live.

Oh, thank you so much. Crypto Portuguese. I'm going to give you a ticket virtual. Make sure you get over. You email Diane right here@markjkohler.com and she will send you the information you need to watch online next week, December 2nd and 3rd. And it's going to be every tax and legal strategy I can share to build and scale your businesses. So folks, if you're a small business owner, you're going to love this workshop. I do it every December. I've been doing it for 14 years every December. And if you've been before, guess what, laws kind of change. Mark Kohler gets better. There's new strategies and there's good reminders. So come out again, watch it, learn. It'll freaking change your life. All right, I've got another great question.

Can you do one more question?

Yeah, let's do one more question.

We're going to grand prize. Okay, so check it out. This is from Philip Tobin.

Hi, Mark.

I love your videos. I really don't think that I should do my own taxes this year due to some new things that I did into 2022. My concern is that I do not have any big assets or major income. Would it still be beneficial to call your office or would it be more worth, I'm sorry, be not worth the expense. Thanks so much.

Oh, thanks so much, folks. You want to be working with an accounting firm when you're, we have a lot of business activity. You've got a technical tax return, maybe you've got that side hustle, some write offs you're not sure about. You got a rental property, you've got, you've got a dynamic family situation with kids or a spouse and you're like, hey, I got A lot of moving parts go with the accounting firm. If life's a little simple, okay. Second concern is if you're trying to scale, if you're really trying to build your business and grow, even if you don't have the accountant prepare your tax returns, having that consultation of, hey, here's what I'm trying to do in 2023. Is there any tips or advice I should have? Meeting with your. Now, this is where our tax lawyers come into play at the law firm. I've got a tax Advisor certified Tax advisor network that launches in January. I'm so excited about it. If any of you are preparing taxes, we're going to be training certified tax advisors around the country and creating a network where when people ask, mark, I need an accountant, I got a network for you. You're going to love it. So at this point, I think it's maybe even premature. You don't even have to worry people for filing your taxes for another three or four months. Let's get into the new year. Let's make sure you're set up and properly planning for the new year, implementing any year end tax tips. Come to the workshop in two weeks. Learn what you should be doing structurally, but hiring an accountant, I don't know if you need to decide that right now. If 2022 was simple and you really don't have a lot of scaling issues or questions, keep working hard. Come to the workshop. Maybe meet with one of my tax lawyers for an hour. Get your strategy and plan set up for 2023. That may be all you need. And that's good, very affordable. I want you to save money and then make money. Because when you're making money, you'll be calling me back and then we're all winning. It's good stuff. Well, all right, James, what do you think?

Are we going for the grand prize now?

It's the grand prize. Okay.

All right, this is what I'm going to do. I'm going to go through the comments and I'm going to scroll through them really fast and then I'm going to scroll up and down and then we're going to land on that. That subscriber. Does that work for you?

Yeah, this is one of the subscribers today that helped us hit our 300 proof.

I got three of my crew members in here and they can vouch that I'm actually doing this. So. Okay, here we go. You tell me when. Tell me when, Mark, tell me when to stop.

Three, two, one.

Okay, let's see who. All right, so let's Just say the comment says subscribed love and watch so many of your videos. Adrian H. Adrian H. That's a D R I E N N E H. You must, you, you must contact us and claim this to be the winner of this prize. Mark, will you go ahead and tell them what the grand prize is? It is.

It's all of my. It's my four book combo with my eight steps workbook and ticket. A virtual ticket. You can upgrade to in person if you're in. Want to fly into Phoenix in two weeks, December 2nd and 3rd. And Adrian, I'd love to have a call with you in the next three or four days over the holiday weekend. I'll get your info from Diane. Let's have a call if you have any small business questions and even if we're on the phone for 15 minutes or 30, 30 minutes or so or whatever. Let, let me help point you in the right direction. Come with a few questions. Let's build your trifecta, man. Let's knock it out. So Adrian, type of name could be a male or female. Not sure yet. Adrian, looking forward to meeting you. And can we do everybody, can we

do a few honorary books here from.

Sure, yeah.

Diane, special books. Okay. Here, I'll go ahead and have Diane name these.

We have three honorary books for Molina Crawford, Galen Boop and Paul McDonald McDaniel. I'm sorry, Paul McDaniel.

Okay, read those three names off again.

Okay. Molina, Crawford, Galen Boop, Bop Bopp and no B, O O p. And Paul McDaniel.

Okay. And please everyone that oh good. This will be a tax and legal playbook. And if you would email Diane@markjcolder.com she'll hook you up and take care of you. Well, in summary, everybody travel safe for the holidays. Thanks for being here today. I'm hoping those that caught this on the recording too. You got some great tips there. Make sure your Friday purchases are smart. Make sure that you are buying things that you can use in your business to make you more money and scale. And my workshop for the next four days will be 25% off. That's gonna save you several hundred dollars if you can get here in person or at least 100 bucks for the virtual ticket. It's a tax write off. It's a tax write off to come to my workshop, virtual or in person. And I hope to save you 20 times whatever you're paying to come. You need these foundational principles. So get over to markjkohler.com the links are down below and sign up for the year end tax strategy workshop. You'll love it. So thanks everybody. Travel safe, be grateful, be thankful, file your tax return, pay your taxes. Let's keep the bill down low, but you'll be okay.