#600 Life Coaches: The Ultimate Tax and Legal Plan for 2025!

Main Street Business

In this episode of the Main Street Business Podcast, Mark J. Kohler shares expert tax and legal strategies designed for life coaches who want to build a thriving business. Discover why starting with an LLC is crucial, how to track expenses effectively, and smart ways to involve your family for tax benefits. With actionable insights and real-world advice, Mark helps life coaches take control of their finances and set the foundation for long-term success.

Here are some of the highlights:

• Mark emphasizes the importance of mindset, stating that being a life coach is a business and should be treated as such.
• Encourages life coaches to think of their business as a gateway to the American dream, offering tax write-offs and financial benefits.
• Advises life coaches to be cautious about where they get their tax and legal information, stressing the importance of credible sources.
• Mark strongly urges tracking expenses from the beginning, even before making the first dollar, using tools like Excel or QuickBooks.
• Involve family members in the business to take advantage of tax write-offs for their contributions.
• Tax advantages of an S corporation, including reducing self-employment tax by splitting income into W-2 salary and pass-through income.
• How family members can be put on payroll for tasks like stuffing envelopes, cleaning the office, or helping with business projects.
• Mark encourages life coaches to plan for this transition in advance to avoid future tax burdens.

• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo to explore the Main Street Tax Pro Certification.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
• Craving more content? Check out my Instagram!

章节

1. Tax and Legal Strategies for Coaches (00:00:00)

2. Maximizing Tax Savings for Coaches (00:07:31)

3. Advanced Tax Strategies for Coaches (00:13:58)