Anderson Business Advisors Podcast
Financial Strategy Hacks!

Financial Strategy Hacks!

December 10, 2019

You'll never go wrong, if you live by the Golden Rule: "Do unto others as you would have them do unto you." Today, Michael Bowman of Anderson Business Advisors and Bowman's Business Brief talks to George Antone, a financier and industry thought leader. George has the ability to take complex topics and make them easy to understand. He can change your perspective on financial life and teach you how to hack finances. His goal is to leave the world a better place by being in it.  

Highlights/Topics: 

  • Is there an overarching premise that George uses? Go straight to numbers; look at everything and ask, "How does this work, if it does work?"
  • When talking about investing and real estate, does George view leverage as good or bad? People need to understand and measure leverage; it can work for or against you
  • What is financial leverage? Borrow as much as possible vs. don't use debt for anything; find right amount of debt, not too much or too little
  • Is there good and bad debt? Good and bad debt exists; build wealth by focusing on using and measuring right debt and financial leverage
  • How much debt should you have? Determine debt-to-asset ratio as metric, depending on stage of life; most investors’ debt-to-asset ratio is too high (80-90%) 
  • What is a loan constant? Measure of flexibility and risk for loan; monthly principal and interest (P&I) payment, multiplied by 12, and divided by loan amount to get percentage
  • What should you consider when buying property? Know what to do when market goes down and be ready for it
  • Are reserves necessary when using debt? Anytime you use debt, you must have reserves; money in the bank gives you peace of mind when using leverage
  • What’s the difference between delayed vs. instant gratification? Be safe, especially when market goes down, reserves become allies
  • How George sets up his reserves? Create two types of reserves, primary and secondary
  • Should you use reserves to bring a loan down? Refinance to lower payments; never use debt for reserves
  • What /when to measure? Make sure every investment and entity line up each quarter 
  • Where’s the Finish Line when it comes to finances? Move faster, not backwards; generate a certain amount of money every year to maintain your purchasing power
  • What are banker’s rules? Play the spread game and pass all the negative impact of inflation to their depositors by being honest, ethical, and disciplined money manager
  • How to build wealth with fewer doors? Use new metrics and definition of success; start with good books and invest in knowledge
  • What are three metrics George recommends tracking? Debt-to-asset ratio, assets under management (AUM), maintain your reserves, and use right type of debt 

Resources

George Antone

The Debt Millionaire by George Antone

The Wealthy Code by George Antone

The Banker’s Code by George Antone

Rich Dad, Poor Dad by Robert Kiyosaki

Michael Bowman

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

Anderson Advisors on YouTube

Tax Tuesdays with Toby Mathis 11-26-2019

Tax Tuesdays with Toby Mathis 11-26-2019

December 3, 2019

Did you gain too much on Thanksgiving? Spend too much of your income on Black Friday? It happens. Make better decisions when it comes to your taxes by listening to Toby Mathis and Jeff Webb of Anderson Advisors. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.

Highlights/Topics: 

  • Can you ever do a 1031 exchange for tax lien certificates? No, unless you have a right to own or take title of property; different states have different statutes
  • Are free-and-clear properties taxed heavier? Doesn’t matter if you have a loan against a property, but you don’t have a mortgage interest deduction
  • What are the tax consequences of borrowing money from a private lender and agreeing to pay a fixed percentage over time? You get money to do your development; paying back percentage of interest or profits reduces gain of taxes that you’ll pay 
  • What itemized deductions will be allowed for 2019 returns? Mostly the same as 2018; refer to Schedule A for medical expenses, mortgage interest, and charitable giving
  • What’s the best vehicle to use for retirement without paying taxes on it? Best and safest methods include annuities, bonds, stocks, and real estate 

For all questions/answers discussed, sign up to be a Platinum member to view the replay!

Go to iTunes to leave a review of the Tax Tuesday podcast. 

Resources:

Tax-Wise 2019 3-in-1 Offer/2fer Tuesday Bulletproof

Roth IRAs

Types of Trusts

1031 Exchange

Bonus Depreciation

401(k)

Solo 401(k)

Qualified Retirement Plan (QRP)

Colorado Homestead Exemption

Garn-St. Germain Act

Opportunity Zones FAQ

Opportunity Zone Heat Map

Depreciation Recapture

Capital Gains Exclusion/Section 121

Tax Cuts and Jobs Act (TCJA)

Cost Segregation Tax Breaks!

Form 3115

Section 179

Form 568

MileIQ

Schedule A

Schedule E

Ed McMahon Settles Suit Over Mold for $7.2 Million

501(c)(3)

Section 1244 Stock Loss

Annuities vs. Bonds: What's the Difference?

Toby Mathis

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

Tax-Wise Workshop

Anderson Advisors on YouTube

Anderson Advisors on Facebook

Anderson Advisors Podcast

Stock Investing Insights

Stock Investing Insights

November 26, 2019

Would you rather spend money on a Lamborghini, mansion, and jet, or make more money for non-profit ventures? Sometimes, something outside of ourselves drives us to do amazing things for other people.Today, Toby Mathis of Anderson Business Advisors talks to Bryan Canter, an experienced investor turned active trader. He has spent the past seven years developing his trading education through several training programs. 

Highlights/Topics: 

  • What prompted Bryan to get into trading? Interest in non-profit side that needed funding by leveraging existing job and money
  • What’s Bryan’s level of involvement? Expected 8 hours a day for 4-5 years of education to reach expert level to dedicate 1 hour a day for market assessment and set up trades
  • How and where did Bryan start? Introduction to trading stocks and options at David Mitchell’s trading education company called, Neuventure, now named TRADEway
  • What were Bryan’s results? Lost money, but not because of the system; 5% of traders are successful, and 95% of traders lose money
  • Is Bryan making money now? Yes, by primarily trading in futures markets
  • What’s Bryan’s advice for others? Find platforms that give you ability to paper trade
  • What are naked calls and naked puts? If selling naked puts, you don't own the company, but someone can make you buy it at a certain price
  • Did Bryan get free money and sell a put (you get money, and you get to keep it)? Two strategies: Sell naked puts on stocks and crude oil futures
  • What's the percentage loss that Bryan’s willing to take? 25% loss on selling puts, but usually gets 10% gains
  • What’s the difference between investing and trading? In real estate, investing is owning rental real estate, and trading is buying something (i.e., fix-and-flips)
  • What’s the purpose of options? Acts as insurance because prices of options fluctuate with market volatility and decrease in value over time
  • What makes a successful trader? Recognize need and commit time for college-level education; and find mentor assess trades with people
  • What’s Bryan actually trading? Follows trend trading strategy, but not trying to pick the top or bottom, but 60-70% of the middle
  • Why Bryan likes futures over stocks? Fair growth stocks can be Ponzi scheme, if they're not paying a dividend; futures contract usually goes against some kind of commodity
  • What is Bryan’s advice for future investors about stock vs. futures markets? Put every penny you can into investing in high-quality dividend paying stocks 

Resources

Exchange-Traded Funds (ETFs)

Mutual Funds

Nonprofits and Charities

TRADEway

Online Trading Academy

Infinity Investments

Infinity Investing Workshop

Qualcomm

Nikkei

Jeremy Siegel

The Future for Investors: Why the Tried and the True Triumph Over the Bold and the New

Toby Mathis

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

Anderson Advisors on YouTube

Tax Tuesdays with Toby Mathis 11-12-2019

Tax Tuesdays with Toby Mathis 11-12-2019

November 19, 2019

Taxes can be fun. Just ask those who attended the recent Tax-Wise Workshop and Tax Tuesdays hosted by Toby Mathis and Jeff Webb of Anderson Advisors. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.

Highlights/Topics: 

  • I have a corporation, but it does not earn income. Do I still need to file a return? Yes, you’re required to file a return every year of its existence
  • If I am self-employed, or own a small business, are the health insurance premiums tax deductible? Yes, health insurance premiums, but you can’t write-off other costs 
  • What are the differences between a Solo 401(k), Qualified Retirement Plan (QRP), and Cash Balance Pension? Most 401(k)s and QRPs are defined contribution and/or profit sharing plans; Cash Balance Pension is a defined benefit plan
  • How do I sell a husband-and-wife owned C Corp to reduce taxes? Whenever selling a business, try to sell the company’s shares for long-term capital gains
  • Can I offset gains from rents with depreciation? Yes
  • I have eight units in my own name. Will I save on taxes this year, if I transfer them under my LLC? No, it doesn’t make any difference; there’s no real benefit to doing it that way

For all questions/answers discussed, sign up to be a Platinum member to view the replay!

Go to iTunes to leave a review of the Tax Tuesday podcast. 

Resources:

HUD/Section 8 Housing

Cost Segregation Tax Breaks!

401(k)

Solo 401(k)

Qualified Retirement Plan (QRP)

Cash Balance Pension

280A

Opportunity Zones FAQ

Opportunity Zone Heat Map

Foreign Earned Income Exclusion

Roth IRAs

501(c)(3)

K-1

Participation Loan Agreement

Real Estate Professional Requirements

Passive Activity Losses - Section 469

Depreciation Recapture

Bonus Depreciation

Capital Gains Exclusion/Section 121

Section 105 Health Plan Reimbursement

Self-Employment Tax

Schedule E

Section 1244 Stock Loss

Kiddie Tax

Types of Trusts

Unrelated Business Income Tax (UBIT)

Toby Mathis

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

Tax-Wise Workshop

Tax-Wise 2019 3-in-1 Offer/2fer Tuesday Bulletproof

Anderson Advisors on YouTube

Anderson Advisors on Facebook

Anderson Advisors Podcast

Commercial Real Estate Investment Success

Commercial Real Estate Investment Success

November 12, 2019

Did you ever have a lemonade stand when you were a kid? Work in the family business? Eventually, go on to handle tenant coordination, project management, and retail/restaurant pad site development? Today, Clint Coons of Anderson Business Advisors talks to Pam Goodwin, founder of Goodwin Commercial. Being an entrepreneur at such a young age inspired Pam to start her own company to guide local and national clients with commercial real estate acquisitions, lease obligations, and consulting services.

Highlights/Topics: 

  • What is a ground lease? Purchase commercial land, find tenant, lease property to them, collect revenue, and sell land at cap rate
  • What to look for when buying commercial property? Explore community to determine what type of use is missing and re-develop property
  • What is a single-tenant net lease? Single tenants are those that lease commercial properties (i.e., Taco Bell, McDonald’s, and Wendy’s) 
  • How to find profitable commercial real estate? Perform due diligence, team up with experts, and attend commercial real estate networking events
  • What’s the future of commercial real estate? Still a growth market, but slowing down
  • Where to invest in commercial real estate? Georgia, Texas, and Oklahoma are among “hot” markets to find opportunities; buy in the path of progress   

Resources

Pam Goodwin

Pam Goowin’s Email

Pam Goodwin on LinkedIn

Goodwin Commercial

One Cent Lemonade to Million Dollar Deals

Winning Ways in Commercial Real Estate

Real Estate Forum

Forbes Real Estate Council 

International Council of Shopping Centers (ICSC)

Women’s Leadership Live

Texas Real Estate Commission

Think Realty

Small Business Administration (SBA)

Eventbrite

1031 Exchange

Clint Coons

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

Anderson Advisors on YouTube

Tax Tuesdays with Toby Mathis 10-29-2019

Tax Tuesdays with Toby Mathis 10-29-2019

November 5, 2019

Afraid of taxes? Spooked about getting audited? Halloween isn’t the only day of the year that most of us fear. So, Toby Mathis and Jeff Webb of Anderson Advisors provide fast, fun, and educational answers to your tax questions. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.

Highlights/Topics: 

  • How can I minimize taxes for someone with no children and no longer able to itemize  miscellaneous deductions under new tax laws? Depends on where income comes from 
  • Can you get lender financing for a property deposit from a self-directed IRA? Not likely because IRA can’t be collateral, but a 401(k) can be used
  • Are horses and their expenses tax deductible? Yes; some are also depreciable
  • What do you need to do to use the Medical 105 Plan and reimburse your medical  expenses? Corporation with plan document is required; show receipts for reimbursement  
  • What does DBA mean? Doing business as (a.k.a., Fictitious Name)
  • Should I form an LLC or Corporation for rental properties? Corporation should be your last choice; LLC is not a tax designation; put rental properties on your personal return
  • If I purchase one or more vehicles, with the intent of renting them out, should I title them in an LLC? Yes, due to liability; also have immaculate maintenance records, commercial insurance, and titled to renter’s LLC
  • Can I offset gains from rents with depreciation? Yes; rental income is offset by all your rental property expenses, including depreciation
  • Can a small, newly set up LLC buy a property? Yes, seasoning requirement isn’t required

For all questions/answers discussed, sign up to be a Platinum member to view the replay!

Go to iTunes to leave a review of the Tax Tuesday podcast. 

Resources:

Pre-order Book Deal: Tax-Wise Business Ownership

1031 Exchange

Real Estate Professional Requirements

Types of Trusts

Schedule A

Schedule C

Schedule E

K-1

Form 1065

Uniform Limited Liability Company Act (ULLCA)

Roth IRAs

Health Savings Account (HSA)

Home Office Deduction

Tax Cuts and Jobs Act (TCJA)

Depreciation Recapture

Bonus Depreciation

Passive Activity Losses - Section 469

501(c)(3)

Opportunity Zones FAQ

Opportunity Zone Heat Map

Capital Gains Exclusion/Section 121

Modified Accelerated Cost Recovery System (MACRS)

Cost Segregation Tax Breaks!

401(k)

403(b)

IRC 183

Section 105 Health Plan Reimbursement

Forms of Compensation 26USC61

Section 1244 Stock Loss

Rollovers as Business Start-Ups (ROBS)

Toby Mathis

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

Tax-Wise Workshop

Tax-Wise 2019 3-in-1 Offer/2fer Tuesday Bulletproof

Anderson Advisors on YouTube

Anderson Advisors on Facebook

Anderson Advisors Podcast

Creating A Personal Legacy

Creating A Personal Legacy

October 29, 2019

Do you know much about your parents and grandparents? Where they came from? How they lived? Today, Toby Mathis of Anderson Business Advisors talks to Chad Ketcher of Generation Bridge Media. Chad captures the lives of senior citizens on video to help them create a personal legacy and bridge the generational gap. Otherwise, all is lost and left behind for future generations. 

Highlights/Topics: 

  • Why drawn to conversations with senior citizens? Most fascinating and interesting people willing to share great stories and wisdom
  • Why build a bridge between high schoolers and seniors (over 60 years old)? Show current teenagers what it was like to be teenagers decades ago
  • Why did Chad create a Memory Planning Toolkit? Offers worksheets that spark specific memory points to document or video stories from senior citizen’s perspective 
  • Why video instead of write your legacy? Video captures non-verbal communication, from hand gestures to eye rolling; 93% of our communication is non-verbal 
  • Who was the prankster, crazy uncle, or bridezilla in your family? Lives are built on remembering family dynamics and personalities that create classic moments
  • What is Chad’s process? Have camera, will travel for in-person interviews where seniors communicate and pass down their values, beliefs, and messages
  • What’s the most interesting story told to Chad? Gordy Sundin, a professional athlete who went from majors to minor league and released; Gordy felt safe to share and confess deep and meaningful things with his family that had never been said before  

Resources

Exclusive offer from Generation Bridge for Anderson Business Advisors 

Generation Bridge Media

Generation Bridge Media on YouTube

Generation Bridge Media on Facebook

Gordy Sundin’s Story

Toby Mathis

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

Anderson Advisors on YouTube

Tax Tuesdays with Toby Mathis 10-15-2019

Tax Tuesdays with Toby Mathis 10-15-2019

October 22, 2019

As they attend an Executive Retreat in Maui, Toby Mathis and Michael Bowman of Anderson Advisors help you watch out for sharks, especially when it comes to taxes. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.

Highlights/Topics: 

  • Can I take advantage of business deductions, if I don’t directly own rental properties, but invest in real estate as a limited partner in syndications and funds that generate K-1s? No; have one entity for investments and one entity to manage investments entity 
  • Regarding the 280A Form, how do I get reimbursed? You don’t have to report payment as income or pay taxes on it
  • Can the Charitable Purpose Board’s activities take place in another country? Yes, approve it in the United States, but perform activities in another country
  • If I purchase a property within an opportunity zone and start a business based from that building, do I still need to improve the property? Yes, substantially improve the property
  • If a person uses cost segregation on rental home, isn’t depreciation recaptured upon sale of home? Can a 1031 Exchange be used? Cost segregation lets you write-off things and a 1031 Exchange can be used

For all questions/answers discussed, sign up to be a Platinum member to view the replay!

Go to iTunes to leave a review of the Tax Tuesday podcast. 

Resources:

U.S. Government Accountability Office (GAO)

501(c)(3)

Passive Activity Losses - Section 469

Airbnb

Cost Segregation Tax Breaks!

1031 Exchange

Opportunity Zones FAQ

Opportunity Zone Heat Map

K-1

Section 280A Deduction

HUD

Real Estate Professional Requirements

Roth IRAs

Tax Cuts and Jobs Act (TCJA)

Schedule A

Depreciation Recapture

Bonus Depreciation

Capital Gains Exclusion/Section 121

Schedule E

Form 5500

Form 4797

Health Savings Account (HSA)

Form 1065

Types of Trusts

Form 2553

Section 1231 Property

Toby Mathis

Michael Bowman

Anderson Advisors’ Executive Retreat

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

Tax-Wise Workshop

Tax-Wise 2019 3-in-1 Offer/2fer Tuesday Bulletproof

Anderson Advisors on YouTube

Anderson Advisors on Facebook

Anderson Advisors Podcast

You’ve Been SERVED- How To Save Your ASSets!

You’ve Been SERVED- How To Save Your ASSets!

October 15, 2019

What do you want to do in the future? Are you living your dream? Your passion? Or, is it time to make a career change? Today, Michael Bowman of Anderson Business Advisors and Bowman's Business Brief talks to long-term client Eddie Russell, an electrician who shares words of wisdom on the world of real estate by attending the Anderson Advisors Tax and Asset Prevention Workshop. He worked hard, saved money, and slowly acquired properties.Eddie is a perfect example of how to protect your hard-earned money and assets for the future. 

Highlights/Topics: 

  • Why and how Eddie started an electrical business? Followed in his father’s footsteps
  • Why real estate? After 32 years, Eddie sold successful business to follow his passion for properties
  • What mistakes did Eddie make? Tried to do it all by purchasing residential properties for rentals, repairing them, getting loans, and collecting too many assets
  • What lessons did Eddie learn? He went back to school, got his real estate master’s, and changed how he did things
  • Why more real estate education? Eddie needed to know how to hold onto, structure, and insure properties to pass them onto his children as legacy wealth
  • What concerns did Eddie consider? Types of entities/structures (i.e. LLCs), liabilities, costs, fees, growth, and tax benefits
  • How to welcome knocks on the door and sleep at night? Tax and Asset Protection Workshop taught Eddie about processes, funds, where to go, and how to do things 
  • Why was Eddie served with papers due to two lawsuits? Real estate is high-liability business; despite liens/loans on properties, Eddie’s wise decisions helped him win
  • Why are lawsuits never fun, but scary and painful? Have the means to take care of it, before it’s too late; lawsuits take time, value, and money
  • Does Eddie’s business continue to grow? Still building, going to town, and doing about 12-13 houses a year  

Resources

FDIC

Form 1099-C

Michael Bowman

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

Anderson Advisors on YouTube

Tax Tuesdays with Toby Mathis 10-01-2019

Tax Tuesdays with Toby Mathis 10-01-2019

October 8, 2019

Be in the know before filing your tax forms to avoid big surprises and losses. For fun and educational answers to your tax questions, Toby Mathis and Jeff Webb of Anderson Advisors are willing, able, and ready to help. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.

Highlights/Topics: 

  • How can I take full advantage of excess depreciation on passive real estate investments? Cost segregation, MACRS, and bonus depreciation through TCJA  
  • What is the best way to set up an Airbnb business that is a solely-owned, single-family house? If average guest’s stay is 7 days or less, pay self-employment tax and take depreciation   
  • If I sell my personal residence, what’s the best way to use the funds from the sale for a residential assisted living (RAL) startup? Create LLC, obtain inside/outside liability insurance, borrow money, and deduct costs  
  • I traveled via RV across and outside the country and needed WiFi to conduct business. Can any part of the travel expense be deducted? If travel is more than 50% for leisure, you can’t write off business expenses; otherwise, write off RV, WiFi, mileage, other costs 

For all questions/answers discussed, sign up to be a Platinum member to view the replay!

Go to iTunes to leave a review of the Tax Tuesday podcast. 

Resources:

Pre-order Book Deal: Tax-Wise Business Ownership

Tax Cuts and Jobs Act (TCJA)

Cost Segregation Tax Breaks!

Modified Accelerated Cost Recovery System (MACRS)

Bonus Depreciation

Real Estate Professional Requirements

Passive Activity Losses - Section 469

Unrelated Business Income Tax (UBIT)

Roth IRAs

501(c)(3)

K-1

Workers' Compensation

Schedule A

Health Savings Account (HSA)

Airbnb

Stepped-up Basis

Types of Trusts

Self-Employment Tax

Capital Gains Exclusion/Section 121

Depreciation Recapture

Schedule C

Schedule E

Real Estate Investment Trust (REIT)

1031 Exchange

Kiddie Tax

Form 1099

Home Office Deduction

Opportunity Zones FAQ

Opportunity Zone Heat Map

MileIQ

Section 280A Deduction

Save A Vet With A Pet – 1 Veteran Foundation

Toby Mathis

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

Tax-Wise Workshop

Tax-Wise 2019 3-in-1 Offer/2fer Tuesday Bulletproof

Anderson Advisors on YouTube

Anderson Advisors on Facebook

Anderson Advisors Podcast