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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 Aug 13, 2019
Tuesday Aug 13, 2019
When you do things right, you don’t get sued, harassed, or audited. That’s why Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- I’m starting a real estate business. How should the LLC be taxed? LLCs choose how they are taxed
- Is there an annual amount you have to pay contractors that require 1099 and W-9 forms? Minimum is $600
- What is a quitclaim? Transfer of interest in county record of your interest
- What is the simplest software or way to log vehicle mileage? MileIQ
- What is a qualified business income (QBI) deduction? Deduct up to 20% QBI, 20% qualified real estate investment trust (REIT) dividends, and qualified publicly traded partnership (PTP) income
- Can you invest money earned through 501(c)(3) to invest in dividends and stocks? Yes
- Can you explain the 100% depreciation changes in the new tax code? Bonus depreciation allows 100% deduction as expense of asset
- Are you familiar with the Deferred Sales Trust concept? Yes, it works to sell a highly appreciated business under an installment note to spread out tax over a lifetime
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:
Individual Retirement Account (IRA)
501(c)(3) Charities and Non-profit Organizations
Howard Hughes Medical Institute
Modified Accelerated Cost Recovery System (MACRS)
Cost Segregation Audit Techniques
Unrelated Business Income Tax (UBIT)
Anderson Advisors Tax and Asset Protection Event
Tax-Wise 2019 3-in-1 Offer/2-for-Tuesday Bulletproof