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Real Estate Investors, Stock Traders, and Business Owners guide to preserve their wealth, protect their assets, and prosper in the future.
Episodes
Tuesday Dec 01, 2020
Tuesday Dec 01, 2020
What’s the difference between President Donald Trump’s current tax laws versus tax policies/proposals from President-elect Joe Biden? Toby Mathis and Jeff Webb of Anderson Advisors provide only the good, bad, and painful facts—not a partisan party. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- What are the differences between Trump vs. Biden tax plans?
- Additional payroll taxes on high-earners
- Increased income tax on high-income individuals
- Increased capital gains rate imposed on high-income individuals
- Tax wealth ideas include annual wealth tax and greater estate/gift taxes
- Increase corporate income tax rate
- Eliminate 199A
- What should be done in 2020/2021, if you’re worried about tax increases?
- Gain Harvesting
- Roth Conversion
- 100% AGI
- Carryforward NOLs
- Wait on Harvesting Losses
- Gifting
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:
Here's where Biden and Trump stand on your taxes
Individual Retirement Arrangements (IRAs)
Unrelated Debt-Financed Income (UDFI)
Unrelated Business Income Tax (UBIT)
Rollovers as Business Start-ups (ROBS)
Real Estate Professional Requirements
Alternative/Renewable Energy Tax Credits
U.S. Government Accountability Office (GAO)
Social Security Administration
Pease Limitation on Itemized Deductions
Paycheck Protection Program (PPP)
Tax-Wise Business Ownership by Toby Mathis
Anderson Advisors Tax and Asset Protection Workshop
Anderson Advisors Tax-Wise Workshop