Selling a Farm: Home Exclusion and 1031 Options

In this Open Forum episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen answer real questions from business owners about taxes, investing, and scaling a successful company. From the brand-new “Trump accounts” for kids to real estate tax strategies and smart ways to grow your business, this episode breaks down complex financial topics into practical advice you can actually use.

They explain how parents might use Trump accounts to create long-term wealth for their kids, including a powerful strategy to convert those accounts into Roth IRAs later in life. You’ll also learn key tax strategies for high-profit business owners, including retirement plans, paying your kids through the business, real estate deductions, and how to balance tax savings with long-term wealth building.

Plus, the discussion dives into real-world business growth strategies — like when to expand physical locations versus going virtual, how to attract better talent, and how to structure your business as it scales. If you’re a small business owner looking for smarter tax strategies and better ways to grow your wealth, this episode is packed with insights.

You’ll learn:

• How the new “Trump accounts” for kids work and when they might still make sense even without the government contribution
• A strategy to convert a child’s Trump account into a Roth IRA to potentially create decades of tax-free growth
• When paying your kids through your business can unlock powerful retirement strategies like a kid’s Roth IRA
• Key tax strategies business owners with $500K+ in profit should consider to reduce taxes and build wealth
• How retirement plans like a Solo 401(k) can help you shelter more income as your business grows
• Why successful entrepreneurs balance tax savings with wealth-building investments
• The difference between focusing on tax write-offs and focusing on long-term wealth creation

Get a comprehensive tax consultation with one of our Main Street tax lawyers that can build a tax strategy plan with an affordable consultation that will leave you speechless!!

Here’s the link - https://kkoslawyers.com/services/comprehensive-bus-tax-consult/?utm_source=buzzsprout&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp613-open-forum-trump-accounts-real-estate-and-growing-your-business

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