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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 Feb 11, 2020
Tuesday Feb 11, 2020
Spend a little bit of time and money to learn a lot about taxes and put much more money in your pockets. What do you have to lose? Nothing. Toby Mathis and Jeff Webb of Anderson Advisors offer fun and educational tax discounts and freebies. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- I may inherit a timeshare that I’m sure has fees with it that I don’t want. How do I figure out the details to get out of it? Disclaim/bequest your inheritance
- Is all the funding for legal costs to start a business tax deductible? Organizational costs can be expensed up to $5,000 in the first year
- Which is the best way to fund an Airbnb; cash or mortgage, if money is no issue? Depends on mortgage interest rate to get better capital return, or invest cash elsewhere
- Can you have both a private and public foundation? Yes, you can control both, but can’t own them
- What IRS requirements are necessary to qualify as a real estate professional? Refer to 26 U.S.C. 469C7 to change real estate losses from passive to active
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:
Real Estate Professional Requirements
Individual Retirement Arrangements (IRAs)
Capital Gains Exclusion/Section 121
Rollovers as Business Startups (ROBS)