#82 - From LLCs and HSAs to Roth IRAs: Mastering Wealth Protection with Mark Kohler

Passive Income Pilots

In this episode of Passive Income Pilots, hosts Tait Duryea and Ryan Gibson welcome tax attorney Mark Kohler to answer popular questions on tax strategies for high-income professionals. With two decades of experience, Mark breaks down essentials from self-directed IRAs to maximizing HSAs, Roth IRAs, and other tax-advantaged accounts, plus strategies for lowering tax liability through real estate and business. With actionable insights on 1031 exchanges, Roth chunking, and creating a “family board,” listeners will learn how to structure finances for long-term growth and protection.

Mark Kohler is a seasoned tax attorney, CPA, and author of four bestsellers with over 20 years of experience in legal and tax strategies for small business owners, entrepreneurs, and real estate investors. As the founder of a tax law firm and a self-directed IRA company, he brings expertise in tax structuring, asset protection, and strategic investments. Mark shares invaluable insights on maximizing tax savings for high-income professionals, helping listeners navigate complex legal frameworks to protect and grow their wealth.

🤝 Meet us in person on November 11th in Atlanta, GA. Space is limited, so be sure to RSVP: https://bit.ly/PassiveIncomePilotsATL112024.

Show notes:

(0:00) Intro

(6:41) Mark’s background in tax law and small business

(09:17) Tax and Legal 101

(13:38) LLCs for Pilots

(17:31) Employing your kids

(23:15) Documenting board meetings

(26:35) 401A and Roth IRA conversion

(32:52) Self-directed HSAs

(35:49) HSAs for military pilots

(39:22) Cattle ranching in HSAs

(42:44) Hobby loss rules

(46:56) Buying rental property in IRAs

(52:23) The short-term rental loophole

(58:40) Outro

Connect with Mark:

• Website 1: https://kkoslawyers.com/
• Website 2: https://mainstreetbusiness.com/
• Website 3: https://directedira.com/
• Podcast 1: https://mainstreetbusinesspodcast.com/
• Podcast 2: https://directedira.com/podcast/
• LinkedIn: https://www.linkedin.com/in/markjkohler/

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*Legal Disclaimer*

The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.