Mark J. Kohler

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Mark J. Kohler, M.Pr.A., C.P.A., J.D., is a best-selling author, national speaker, radio show host, writer and video personality for Entrepreneur.com, real estate investor, senior partner in the law firm Kyler, Kohler, Ostermiller & Sorensen, and the accounting firm of Kohler & Eyre, CPAs. Mark is a personal and small business tax and legal expert who helps clients build and protect wealth through wealth management strategies, as well as business and tax remedies often overlooked in this challenging, ever-changing economic climate. His seminars have helped tens of thousands of individuals and small business owners navigate the maze of legal, regulatory and financial laws to achieve greater success and wealth.

Location Cedar City, UT
Country United States
Member Since OCTOBER 21, 2019
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Highlights

Technically you need four things* the last being my 8 Steps To Start and Grow Your Business Workbook ;) Click shop MJK Products in my bio to learn more!

IRS moves Deadline to May 17th- What it Really Means! - Mark J Kohler

This morning the IRS announced they will postpone the typical April 15th tax-filing deadline for individual’s 1040 filing (only) to May 17th. None You can still file a 5-month extension (with Form 4868 ) on May 17th, allowing you to file your actual 1040 tax return up until October 15th, 2021. In fact, if you owe taxes on your 1040 and foresee that you won’t be able to pay by May 17th, see my other article: “ if they don’t file the penalties won’t change, OR the extension covers them past October 15th.

What is your passion?

What to do If I can't pay my Taxes by October 15th - Mark J Kohler

n’t pay…and yes, you are still paying interest and penalties under the “Failure to Pay” provision (see below), but immediately you are ALSO assessed the “Failure to File” penalty when you don’t file. (If both the Failure to File and Failure to Pay penalties apply, the Failure to File penalty drops to 4.5% per month (or part thereof) so the total combined penalty remains at 5%.) It’s important to remember that an extension of time to file your return does not mean you have an extension of time to pay your tax bill. The fee for entering into an installment agreement is $105, except that the fee is $52 when the taxpayer pays by way of a direct debit from the taxpayer’s bank account, and, notwithstanding the method of payment, the fee is $43 if the taxpayer is a low-income taxpayer.

#mine #crypto inside a #rothira and get #taxfree growth! #dogecoin #taxtok #bitcoin Follow me on TikTok!

Do I need to File an Extension for my Business Taxes - Mark J Kohler

If your SMLLC is owned by another company i.e. S-Corp, C-Corp, or another LLC (100%), you will report the activity of the SMLLC on the company’s tax return that owns the LLC (Think of it like a consolidated tax return). When a Limited Liability Company (2 Members or more) fails to file Form 1065 by March 15th, or file an Extension – Form 7004, the IRS imposes a penalty of $210 for each month, or part of the month the return is late, multiplied by the number of Members. When an S corporation fails to file Form 1120S by March 15th, or file an Extention – Form 7004, the IRS imposes a penalty of $210 for each month, or part of the month the return is late, multiplied by the number of Shareholders. When a C-Corporation fails to file Form 1120 by April 15th or file an Extension – Form 7004, the penalty for late filing is a monthly penalty that’s equal to 5 percent of any income tax that remains unpaid, up to a maximum 25 percent penalty after the fifth month that the return remains unfiled.

Start a business today! The tax benefits will blow your mind, and you'll increase your income!

How to Implement a 2021 Strategic Plan for Success - Mark J Kohler

A Strategic Plan sets forth a timeline of specific tasks that need to be completed in order to meet your business or investment goals. Now once you have started investing or your business is up and going, we all know your Business Plan goes in the drawer and your Strategic Plan helps you implement what you conceived in the beginning. However, what most people DON’T understand is that the Strategic Plan and Board of Directors is just as important for small privately owned, even solely owned corporations, not just for the big guys on Wall Street. With a basic Strategic plan that you carry around with you everywhere, YOU WILL be the captain of your ship and won’t be tossed around to and fro in the sea of business.

Two of my life's mantras is "Prepare for the Worst but Hope for the Best!" and "Keep Your expectations Low and You'll never be disappointed". What do you think? Is that pessimistic thinking?

The best part of being an Entrepreneur is learning something new everyday. Owning a #smallbusiness or having a #sidegig takes you out of your comfort zone, makes you think creatively, and molds you into a better person. Can you say the same with your standard 9-5?

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