When Mike and Tim are talking about Tom Hanks Mike says that Tom Hanks reminds of the second best guy in some of those films. Tim Allen and Tom Hanks both starred in the Toy Story movies.
Tim mentions that maybe he should bring back or revive Tool Time. In February 2021 Tim Allen and Richard Karn will premiere on a new show called Assembly Required. The set uses the same set as Tool Time and it is a home improvement themed show.
With Tim Allen playing both Mike Baxter and Tim Taylor, suggests that 'Last Man Standing' and 'Home Improvement' exist in the same shared universe.
Mike bouncing the ball is an homage to Steve McQueen's 'Cooler King'.
Vanessa takes the milk out of the fridge with no lid on it.