In episode of Wealthion, Andrew Brill speaks with renowned CPA and lawyer Mark Kohler. As the founder and senior partner at KKOS Lawyers, Mark is dedicated to helping people financially achieve their American dream. Kohler shares his expert strategies on how to build and protect wealth through smart tax and legal planning.
Some of the key strategies they discuss include: * How to utilize Roth IRAs from an early age * The benefits of side hustles and rental properties * Advanced tax strategies to minimize liabilities
Timestamps: 0:00 - Introduction 0:27 - Does the American Dream Still Exist? 2:24 - Teaching Financial Responsibility to Kids 5:04 - Benefits of Early Roth IRA Contributions 8:27 - The Rise of Side Hustles and Wealth Building 10:06 - Real Estate Investment Strategies 12:48 - Choosing the Right Type of Real Estate 15:41 - Partnering for Real Estate Investments 17:57 - Self-Directed IRA for Real Estate 20:44 - Setting Up LLCs for Self-Directed IRAs 22:04 - The Importance of Revocable Living Trusts 24:17 - Advantages of S Corporations for Subcontractors 26:48 - Converting 401k to Roth IRA 30:44 - Tax-Free Wealth with Roth IRA 33:17 - Alternative Investment Strategies: Hard Money Lending 35:31 - Investing in Cryptocurrency with Self-Directed IRA 38:10 - Upcoming Crypto Tax Summit Details 40:04 - Political Impacts on Tax Legislation 41:48 - Closing
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There’s no doubt that it's a very challenging time right now for the average investor. Above and beyond the recent economic impacts of COVID, the new era of record low interest rates, runaway US debt and US deficits, and trillions of dollars in monetary and fiscal stimulus stimulus has changed the rules of investing by dangerously distorting the Dow index, the S&P 500, and nearly all other asset prices. Can prices keep rising, or is there a painful reckoning ahead?
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