Anderson Business Advisors Podcast

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

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