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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 03, 2019
Tuesday Dec 03, 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
Qualified Retirement Plan (QRP)
Capital Gains Exclusion/Section 121
Ed McMahon Settles Suit Over Mold for $7.2 Million
Annuities vs. Bonds: What's the Difference?