Entries by Mark Kohler

ARE SINGLE MEMBER LLC’S WORTH IT?

There’s a lot of talk on the internet in the entrepreneurial and real estate investing blogosphere regarding the single-member LLC. Some people seem to think they are completely worthless, while others prescribe them like aspirin for headache. However, as is almost always the case, neither extreme is correct. Single-member LLC’s have their place in the…

10 YEAR-END TAX STRATEGIES- THERE ARE OPTIONS!!

1. Make an S-Election on an LLC you set up this year and used for Operations– This is a unique trick we implement for several clients each year. If you previously paid a lot in Self-Employment Tax and for some reason had an LLC (sometimes a major mistake by other planners), you can easily still…

EMPLOYEE VERSUS SUB-CONTRACTOR: RISKS AND REWARDS

Some business owners who want to save on employment taxes treat employees like contractors and 1099 them rather than set up payroll with a W-2. BEWARE!! I certainly understand you want to save money in this area of your business, employment taxes, workers comp, unemployment, etc… can be a pain AND expensive. However, just because…