Right About Now: Legendary Business Advice

Episode Summary — "How the Rich Use Tax Strategy to Build Long-Term Wealth" with Mark J. Kohler

Host: Ryan Alford (The Radcast Network)
Guest: Mark J. Kohler
Date: January 2, 2026

Overview

This episode dives into practical, actionable tax strategies that high achievers and the wealthy use to build, maintain, and grow their wealth—strategies that are also accessible to small business owners and side-hustlers. Guest Mark J. Kohler, well-known “Main Street tax attorney,” demystifies the tax code and shatters myths about what separates the rich from the rest, arguing that understanding and actively participating in tax planning is a crucial part of financial success for anyone.

Key Themes & Discussion Points

1. Taking Ownership of Your Financial Future

• Don't Delegate, Document:
  Kohler kicks off challenging listeners to “stop delegating your destiny and start documenting your empire.” (00:00)

  • Quote:
    • “Stop delegating your destiny and start documenting your empire.” – Ryan Alford (00:00)
  • Too many people think handing things to professionals absolves them of responsibility. But real wealth-builders get actively involved in their finances and tax planning.

• Myth-Busting About the Wealthy:
  Kohler points out the tendency for people to vilify the rich instead of learning from them.

  • Quote:
    • “People that don't make a lot of money don't want to look in the mirror and own that. They'd rather blame or put this wealthy person in a box…rather than look in the mirror and go, you know what, I could learn a few things.” – Mark J. Kohler (00:27, echoed again at 08:33)

2. The Power and Opportunity of the Side Hustle

• Side Hustle = Opportunity:
  Post-pandemic, nearly 45% of working Americans have a side gig. Instead of seeing it as a burden, Kohler urges listeners to see it as a “gateway drug” to building wealth. (04:12)

  • “That little 1099… that’s a golden ticket. Now I’m writing off home office, auto, dining, computers, your cell phone, family members…” – Mark J. Kohler (05:17)

• Small Steps, Big Results:
  It's not about getting rich quick, but about consistent, “get rich slow” wins—leveraging write-offs, employing family, investing.

3. Understanding and Leveraging the Tax Code

• Graduated Tax Brackets Explained:
  Kohler demystifies misconceptions around tax brackets, clarifying what an effective rate actually means. (06:14)

• Active Tax Strategy — Not Just for the Wealthy:
  Example: Real estate professionals like Donald Trump can use depreciation to dramatically reduce taxable income.

  • “Trump had so much in depreciation from his hotels and real estate investments… His effective rate at the end of the day was very low.” – Mark J. Kohler (06:14)

• Tax Code as Incentive Structure:
  Tax breaks are intentionally used by the government to inspire certain behaviors—marriage, solar panels, real estate investment, even oil and gas exploration.

  • “The tax code is built to motivate people to do things… The tax code, all you're doing is using it to help America get better. And we'll give you a tax break.” – Mark J. Kohler (09:16)

• It’s Not Cheating; It’s Playing Smart:
  Using the tax code ethically is not gaming the system; it’s working within its framework for mutual benefit.

4. The Importance of Getting Involved and Educated

• You Cannot Fully Delegate Tax Planning:

  • “Stop thinking you're going to find an accountant to do all of this for you… You're not going to find someone that's going to care as much about your finances and future than you.” – Mark J. Kohler (11:36)
  • You are the CEO (or CFO) of your tax team, responsible for guiding strategy, not just filing paperwork.

• Treat Your Side Hustle Like a Business:

  • “When you start to treat your operation like a business, it now starts to work and the profit from it can be redeployed into assets that work for you while you're asleep.” – Mark J. Kohler (13:11)

• Practical Bookkeeping Tips:

  • Always have a spreadsheet for tracking expenses
  • Use a dedicated credit/debit card for business purchases
  • Use accounting software if possible, but any tracking is better than none
  • “Bad bookkeeping loses money.” – Mark J. Kohler (14:25)

5. Mindset Shift: From Passive to Proactive

• The rich “geek out” on tax strategies; they treat it as a game or tactical challenge rather than boring compliance.

  • “Rich people geek out on tax strategies. If you want to be rich, start geeking out on some of the stuff and it'll blow your mind.” – Mark J. Kohler (07:48)

• The difference, Kohler says, is simply effort, curiosity, and constant engagement, not secret knowledge or inherent unfairness.

Notable Quotes & Memorable Moments with Timestamps

• “Stop delegating your destiny and start documenting your empire.”
  Ryan Alford (00:00)

• “People that don't make a lot of money don't want to look in the mirror and own that… rather than look in the mirror and go, you know what, I could learn a few things.”
  Mark J. Kohler (00:27, reiterated 08:33)

• “The number one cost in our lives are taxes. And people don't want to talk about it. It's too boring. It's too complex. What the hell do I do? Well, we're going to freaking demystify that.”
  Mark J. Kohler (03:27)

• “Stop thinking you're going to find an accountant to do all of this for you.… You need a good accountant. They're your first mate. But where are you steering the ship?”
  Mark J. Kohler (11:36)

• “Stop delegating, start documenting.”
  Ryan Alford (14:56)

Timestamps for Key Segments

• 00:00-01:20 — Ryan & Mark kick off on mindset and myth-busting about wealth.
• 03:11-05:55 — Main Street entrepreneur journey, the power of side hustles and small business tax strategies.
• 06:14-08:16 — How tax brackets really work; high-level tax planning (real estate depreciation, Roth IRA, HSA strategies).
• 09:16-10:33 — Tax code is designed to incentivize positive actions, not just for the wealthy.
• 11:36-14:56 — Why you must treat your books and tax planning as your business, not your accountant’s problem.
• 14:56-15:11 — “Stop delegating, start documenting.” – A mantra for all entrepreneurs.
• 15:15-end — Mark J. Kohler shares his website and resources for deeper learning.

Actionable Takeaways

• Get personally involved in your tax strategy and financial planning.
• Leverage side hustles and treat them seriously as businesses.
• Document everything for maximum write-offs and minimal stress.
• Use the tools the tax code offers: Roth IRAs, HSAs, real estate depreciation, legitimate business expenses.
• Regularly meet with your accounting/tax team, but remain the leader.
• Tax planning is not about cheating the system—it’s about playing by rules designed to reward economic contribution.

Resources & Further Learning

• Mark J. Kohler Website: markjkohler.com
  • Podcasts, law firm resources, tax planning workshops, social links.
• Key Phrase to Remember:
  • “Stop delegating, start documenting.” – Ryan Alford (14:56)

Conclusion

This is “business the way it really works”—no fluff, no secret society, just actionable wisdom. Take ownership. Learn the rules. Keep more of what you make. That’s how the rich get richer—and so can you.