621.2K
Downloads
342
Episodes
Real Estate Investors, Stock Traders, and Business Owners guide to preserve their wealth, protect their assets, and prosper in the future.
Episodes
Thursday Aug 22, 2024
Thursday Aug 22, 2024
In this episode of Anderson Business Advisors, Toby Mathis, Esq., speaks with Jeff Mason and Chris Hammond from Redwood Retirement on the intricacies of $100,000+ cash balance retirement plans, focusing on how innovative solutions can benefit business owners. They explore the key aspects of these plans, including what can be paid and deducted, the hurdles involved, and the flexibility they offer. The discussion covers the effectiveness of Redwood's solutions, highlighting when payments are due for the tax year and showcasing best-case examples of significant tax savings achieved through cash balance plans. Chris and Jeff also clarify the differences between Cash Balance Plans and Defined Benefit Plans, explain the limits and maximum contributions, and introduce a sample plan for effective modeling. With insights into flexibility, payroll funding, and real-world case study outcomes, this episode is a comprehensive guide to leveraging cash balance plans for optimal retirement planning and tax efficiency.
Highlights/Topics:
- Chris and Jeff intro, Redwood Retirement and their cash balance plans
- Liability - what you can pay and deduct, hurdles, flexibility
- Redwood’s solutions, proof of effectiveness
- When are payments due for the tax year?
- Best case examples of cash balance plans and their tax savings
- Definitions and differences - Cash Balance Plan vs. Defined Benefit Plan
- Limits and maximum contributions
- Modeling a ‘Toby Mathis plan’
- What all this means for business owners
- Flexibility, funding with payroll
- Favorite case study outcomes
- If you want to speak with Jeff and Chris - click the link below to see if their services can help you!
Resources:
Do you want to discuss if a Redwood Retirement Cash Balance Plan Design is right for your company?
👉 Visit: https://redwoodrs.com/tobypodcast
https://redwoodrs.com/tobypodcast
Schedule Your FREE Consultation
Tax and Asset Protection Events
https://andersonadvisors.com/live-tax-and-asset-protection-workshops/
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
Wednesday Aug 21, 2024
Wednesday Aug 21, 2024
In this episode, Toby Mathis, Esq., of Anderson Business Advisors welcomes Erik Dodds- a seasoned financial planner, fiduciary, and active trader. Together, they delve into the anticipated pivot of the Federal Reserve from a hawkish to a dovish stance and its potential impacts on the market. Erik provides an in-depth analysis of historical trends and recent economic indicators to forecast future market movements, particularly focusing on the S&P 500 and its ETF proxy, SPY. He shares valuable investment strategies for both traders and long-term investors, including the use of covered calls, caller strategies, and understanding option Delta for optimizing strike selection and income generation. To stay informed and proactive, Dodds offers insights on how to prepare your portfolios for financial fluctuations and maximize returns amidst market volatility.
Highlights/Topics:
- Toby introduces Erik Dodds to discuss the Federal Reserve's pivot
- What a Fed pivot involves, shifting interest rates
- Fed's current interest rate status and lack of recent changes
- Rate cuts might appear in September or December 2024
- Market expectations for Fed rate cuts fluctuate with economic data
- Historical Fed pivots often lead to market downturns
- Options strategies can protect portfolios during market declines
- Wealthy individuals are most impacted by market volatility
- Long-term investors should focus on portfolio protection and consistent buying
- Advice for investors on protecting portfolios and managing risk
Resources:
https://infinityinvesting.com/pricing/?utm_source=how-the-federal-pivot-could-shake-up-the-stock-market&utm_medium=podcast
Schedule Your FREE Consultation
https://andersonadvisors.com/strategy-session/?utm_source=how-the-federal-pivot-could-shake-up-the-stock-market&utm_medium=podcast
https://www.marketwatch.com/livecoverage/stock-market-today-s-p-500-futures-inch-higher-as-ai-frenzy-continues/card/stocks-fell-21-on-average-after-first-fed-rate-cut-since-the-1970s-says-comerica-xr9yBoZ9PeIkFpOeqfE8
Tax and Asset Protection Events
https://andersonadvisors.com/live-tax-and-asset-protection-workshops/
https://andersonadvisors.com/
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
Tuesday Aug 20, 2024
Tuesday Aug 20, 2024
Today, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., answer listener questions with a focus on optimizing tax outcomes for real estate investors and crypto enthusiasts. We explore strategies for handling income through complex entity structures, such as using an LLC and a C-corp to manage staking income and fund a 401(k). We also discuss the timing of LLC formation for crypto investments and how flipping houses can be structured within a C-corp or S-corp to minimize taxes. Listeners will learn about managing losses on short-term rental cabins, the implications of renting out a portion of your home, and the nuances of filing multiple LLC tax returns. Plus, we address how to handle passive losses if you're a real estate professional.
Submit your tax question to taxtuesday@andersonadvisors.com
Highlights/Topics:
- "As a tax strategy, let's say let's say I set up a trading LLC entity and a C-corp entity that owns 49% of the trading LLC. If the trading LLC makes around $10,000 in staking income, and the C-corp gets its $4900 as a partner in the trading LLC, then can the $4900 be used to fund a 401(k) owned by the C-corp? Is the income considered earned income or ordinary income? If it is ordinary income, can it be used to fund a 401(k)?" - By doing this, putting in the structures, we kept $4900 off the personal return. That's a victory.
- "I currently invest in crypto. I anticipate selling some of it sometime in 2025 with gain over a hundred thousand dollars or perhaps far greater." It's crypto. You could quadruple in a day. "What would be the best move for me right now? If I were to create my LLC, would I be taxed when I moved my crypto to the wallet for the LLC, all crypto would've been bought more than a year prior to selling? Should I create an LLC this year or wait until next? - If this was just a disregarded LLC, meaning it doesn't file its own tax return, it's basically that taxpayer, either way, when we put the money in, it's not taxable.
- "How do I save taxes on flipping houses? We have three houses we are flipping in the next few months." "How can we reduce the taxable income on these properties?" - We often would put our flipping activity maybe in a C-corporation, possibly an S-corporation. Why? A lot of ways to mitigate taxes with reimbursements, corporate meetings, wages that you use to contribute to a retirement plan.
- "I bought a short-term rental cabin in May of 2022 using 1031 funds. Rentals are beyond disappointing at this point. If we sell for at least $200,000 loss more than the gain on the 1031 funds, how does this play out regarding taxes?" - we may not know exactly what our loss is. Let's just assume we do have that loss. When we have losses, one thing we don't have to worry about is depreciation recapture because we have no gains.
- "I have multiple LLCs. Do I have to file multiple tax returns?" - it depends on how the LLC is taxed. If it's a disregarded entity, means it doesn't file a return. If I have seven LLCs and you're doing seven different tax returns, that doesn't make a lot of sense when you could set up a single entity to own them all.
- "I've had my primary residence for the past 21 years. If I rent it for three years or more and sell it, would I be taxed on the depreciation I take over those 3 years, or would it be included in the 121 exclusion?" - If it was exactly three years, then they could take advantage of that 121 if they were to sell it and maybe even 1031.
- "If I have a two-level house and I live in the upper level but Airbnb on the lower level, can I deduct the depreciation repair management of the lower level? Does it need to be a legal unit and have its own address?" Same question, but what if it was a long-term rental? - Because you have rental income coming in, you will be able to take these expenses - the depreciation, repair, and management. It's just a matter of how much.
- "If I am a real estate professional with over 750 hours actively acquiring properties, and I sell my other long-term rentals non-real estate investments, such as stocks, private equity, and venture capital investments, can the losses from my active or passive real estate investments offset gains on my other long term non-real estate investments?" - if you have passive income, it's passive income. If you have losses, it's passive losses. You can only use the passive losses to offset other passive income. So you may get losses trapped. We call it suspended passive activity loss rules.
Resources:
Schedule Your FREE Consultation
https://andersonadvisors.com/strategy-session/?utm_source=how-to-save-taxes-when-flipping-housest&utm_medium=podcast
Tax and Asset Protection Events
https://andersonadvisors.com/live-tax-and-asset-protection-workshops/
https://andersonadvisors.com/
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
Thursday Aug 15, 2024
Thursday Aug 15, 2024
Today Toby Mathis, Esq. speaks with Lauren Robins, Esq., a senior real estate attorney with Anderson Advisors, about helping savvy investors use land trusts in the right scenarios. Lauren explains how land trusts act as a versatile tool for investors, likening them to a ‘Swiss army knife’ due to their broad range of applications. We explore what land trusts can and can’t do, including the intricacies of trust ownership and beneficiary roles. Lauren details how land trusts can help avoid unnecessary taxes, clarify sale clauses, and offer homestead exemption benefits. We also discuss equity stripping and how land trusts serve as a protective measure for investment properties. Additionally, Lauren sheds light on the Garn-St. Germain Act and how land trusts can be utilized effectively for flips, wholesaling, and ‘subject to’ deals.
Highlights/Topics:
- Land trusts - a ‘Swiss army knife’ for investments
- What land trusts can and can’t do
- Trust ownership, beneficiaries
- How land trusts can be useful
- Avoiding unnecessary taxes, sale clause confusion
- Homestead exemption benefits
- Equity stripping
- Land trusts as protection for investment properties
- The Garn-St. Germain Act
- Using land trusts for flips, wholesaling, and ‘subject to’ deals
- Not all investors know about this extremely useful tool
- Share this episode with someone who might be interested!
Resources:
Schedule your FREE consultation
https://andersonadvisors.com/strategy-session/?utm_source=why-savvy-investors-use-land-trusts-for-real-estate-investments&utm_medium=podcast
Tax and Asset Protection Events
https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=why-savvy-investors-use-land-trusts-for-real-estate-investments&utm_medium=podcast
https://andersonadvisors.com/
https://andersonadvisors.com/podcast/
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
Thursday Aug 08, 2024
Thursday Aug 08, 2024
Today Toby Mathis, Esq. speaks with Karim Hanafy, Esq., a leading expert on non-profit law at Anderson, to explore the intricacies of starting and managing a charity, be it a public or private organization. Karim shares invaluable insights on navigating IRS regulations, the differences between public and private charities, and the implications of donations and tax deductions. The conversation delves into privacy concerns for board members and family, the challenges of fundraising for public charities, and the complexities of annual filing and reporting requirements. Karim also discusses potential tax burdens, dissolution clauses, and prohibited transactions. Tune in for expert advice on effectively starting, running, and sustaining charitable organizations.
Highlights/Topics:
- Get advice from someone who knows the IRS, like Karim
- Examining reasons for starting a charity
- Donations and tax deductions - public vs. private
- Privacy concerns - board members, family
- Dealing with making donations - public vs foundation
- Potential tax burdens and rates
- Dissolution clauses
- Fundraising can be a challenge in public charities
- Annual filing and reporting requirements
- Prohibited transactions
- Private operating foundations - museums
- Share this episode with someone who might be interested!
Resources:
Schedule your FREE consultation
https://andersonadvisors.com/ss/?utm_source=8-differences-between-public-charities-and-private-foundations&utm_medium=podcast
Email Our Team To Get Your Nonprofit Started
nonprofits@andersonadvisors.com
Start Your Nonprofit Plan in 45 Minutes For Free
https://andersonadvisors.com/nonprofit-501c3/?utm_source=8-differences-between-public-charities-and-private-foundations&utm_medium=podcast
Tax and Asset Protection Events
https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=8-differences-between-public-charities-and-private-foundations&utm_medium=podcast
https://andersonadvisors.com/
https://andersonadvisors.com/podcast/
https://www.youtube.com/@TobyMathis
Tuesday Aug 06, 2024
Tuesday Aug 06, 2024
Today, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., delve into listener questions including - how gains from crypto investments are classified as either ordinary income or capital gains. For property sales, we explore strategies to avoid capital gains tax, such as donating to a private foundation, and we clarify the impact of marriage timing on capital gains claims. We also cover tax implications for rental property expenses, including the timing of write-offs for losses and the criteria for short-term rental deductions. Additionally, we touch on medical reimbursements for C-corps, renovations for Airbnb setups, and backdoor Roth IRAs.
Submit your tax question to taxtuesday@andersonadvisors.com
Highlights/Topics:
- "What are the basic principles to keep in mind with gains derived from investing in crypto?" - gains from a “personal asset” need to be identified as ordinary income or capital gains
- "Is there a legal way to sell a property through a charity to avoid a capital gain and have the charity provide us with a small monthly retirement amount?" - If you already have a private foundation, you could still do this transaction as long as you gave the property to the private foundation.
- "My fiance and I purchased a property together. He is selling his property that he has owned for over 10 years. We are not married yet, but intend to get married this year. If we get married after he sells his property, can we still claim status for capital gains? He will have a significant amount of capital gains on his property. His property will sell in August, and we weren’t going to get married till October. We just want to make sure we’re okay to claim status for capital gains." - I think what we're getting at here is the 121 exclusion, if you meet the criteria.
- "I purchased a duplex and we’ll list it as a short-term rental in August." I want to buy furniture and supplies and do both major and minor repairs before the listing is active. Can I write off these expenses before the Airbnb listing is active?" - Generally speaking, no, you're not going to write it off before it's active.
- "I bought an investment property for $260,000. It’s only worth $200,000. If I sell it, can I take a $60,000 loss?" - If we bought it as investment, maybe it was a flip or something like that, we can take it as an ordinary loss.
- "For short-term qualification, do we need to add it to Airbnb or Vrbo, or can we just rent it out to friends and family for three rentals of less than a week and still qualify for the deduction?" If yes, how do we show proof?” - there's no requirement that you specifically set up an Airbnb or VRBO, but you can’t rent to friends and family or “related parties” - that’s personal use.
- "Can you reimburse medical costs if organized as a C-corp?" - Simple answer, yes, if you have a medical reimbursement plan.
- "Can I make renovations to my personal residence to establish an Airbnb and write off the costs?" - yes you can, depreciated over time. It must be in service to deduct.
- "What is a backdoor Roth?" - You can put it in the Roth after you pay taxes on it, if you make an income over the typical limit for Roth contributions.
- "What is a good way to plan when converting a primary residence into a rental property and have a tax-wise setup for the transition? Do we sell the property to the LLC or transfer sign the loan to the LLC? How will the capital gains be treated?" - you could do either one.
Resources:
Schedule Your FREE Consultation
https://andersonadvisors.com/ss/?utm_source=loss-on-rental-if-i-sell-it&utm_medium=podcast
Tax and Asset Protection Events
https://andersonadvisors.com/live-tax-and-asset-protection-workshops/?utm_source=loss-on-rental-if-i-sell-it&utm_medium=podcast
https://andersonadvisors.com/
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
Thursday Jul 25, 2024
Thursday Jul 25, 2024
In this episode, Toby Mathis of Anderson Business Advisors welcomes Neal Bawa back to the show for another eye-opening appearance. Neal is the founder and CEO of Grocapitus, a commercial real estate investment company, and CEO of MultifamilyU, an apartment investing education company.
Neal reports some jaw-dropping stats: 18 million families are priced out of homeownership due to salary versus mortgage disparities. Landlords are poised with a peak supply of 673,000 apartments in 2024, but the market will experience a shortage and price hikes in 2025-2026. The Federal Reserve's interest rate policies aim to balance inflation and affordability concerns, potentially influencing market dynamics. Investors are advised to target multifamily properties and land purchases, focusing on 5-unit properties over smaller units and considering assumable loans for strategic advantages in the current market landscape.
Highlights/Topics:
- Market progress since Covid
- Increases - Salaries vs. Mortgages
- 18 million families have been priced out of home ownership
- Opportunities for landlords - supply is peaking - 673,000 apartments in 2024
- 2025-2026 will see extreme apartment shortages and price hikes
- Interest rates and the Fed
- Inflation vs. rate cuts, affordability may improve
- Possible zig-zagging market price fluctuations
- What should investors do “right now”?
- Current advantages in the multi-family market, land purchases
- Why you should be looking at 5-unit properties, not 1-4 units
- Look for assumable loans
- Time is your friend in today’s market
Resources:
https://www.grocapitus.com/
https://multifamilyu.com/
Watch Neal Bawa “Feds Broke the Bank- Is Real Estate Safe?” March 2023
https://www.youtube.com/watch?v=v-zObxj7NPk
https://andersonadvisors.com/
https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw
https://andersonadvisors.com/podcast/
https://www.youtube.com/channel/UC5GX-U6VbvMkhSM1ONBiW8w
Tuesday Jul 23, 2024
Tuesday Jul 23, 2024
Welcome to another episode of Tax Tuesday. Today, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., delve into listener questions around various tax and business strategy questions. Topics include the active vs. passive income classification for S-corp distributions in a physical therapy home health business, the optimal timing for cost segregation and bonus depreciation in short-term rental activities, and the tax implications of transitioning from short to long-term rentals. Other discussions delved into Opportunity Zones, S-corp taxation for owner draws, classification of employees, IRA to foundation transfers, tax-saving strategies for property flips, overlooked investor deductions, 1031 exchanges for rental properties, and the feasibility of lease options in Roth IRAs.
Submit your tax question to taxtuesday@andersonadvisors.com
Highlights/Topics:
- "We are starting an S-corporation for physical therapy home health business. My wife and I will be the only shareholders. My wife will run the business and see patients. I only plan to invest into the business. We'll be a limited partner. Will my distributions from the S-corp be considered as passive income since I am not materially participating in the business?" - No. It's all going to be active income.
- "If you started short-term rental activity in November 2023 when the property was purchased, can you use cost segregation and bonus depreciation in 2023, or is it still better to wait until 2024?" - more than likely, you're going to be better off in 2023.
- "If I buy a house in September, use it as a short-term rental for a month until October, and then do long-term rental starting in November for the STR, short-term rental, I or my spouse will actively manage the property, can I still take the bonus depreciation in first year and offset my W-2 income?" - It's all going to look at how much time did you rent it and what was the average stay.
- "If I put money into an opportunity zone and then sell after 10 years, does it all come out tax-free or just any growth? - If you've had capital gains, you sold some stock, sold some property, you have true capital gains, you can invest them in what's called an Opportunity zone fund.
- "If you are an S-corporation and pay yourself a regular salary, but also take money from what Intuit calls ‘owner draw’, how is that taxed?"
- "Do all employees have to be W-2 employees under an S-corp, or can they be contractors?" - the W -2, as we pointed out earlier, that's going to be subject to employment tax. All of this income is subject to income tax, whatever your bracket's at, both streams.
- "Can an IRA balance be transferred to a foundation tax-free and also allow the owner a tax deduction? Can I create the foundation and operate the foundation receiving the contribution?" - there's two ways to do it. I receive the money, pay tax on it, then contribute to a charity and I would take a deduction. Or I could put up to $100,000 a year of my distributions directly into the charity and now I don't pay tax on it,
- "We sold our first flip at the beginning of the year and would like to know if there is any way at this moment to save as much as possible from being taxed, i.e. invested in the next flip or something else to avoid the "loss". Also, if we have a loss for our S-corp in 2023, could we see that capital gain to be offset in 2024?" -it's easy to get these things kind of mixed up. Flips are ordinary income, not capital gains.
- "What are typical operating and general expenses you've seen overlooked when investors file deductions?" - The way you avoid missing deductions is you have good bookkeeping, okay?
- "Can I move into a rental house I have for 15 years? Does it still qualify for a 1031 at a later date? I assume you mean when you move into it, it says a primary residence. Does it qualify for a 121 exclusion after two years?" - if we've moved into it, I'm assuming we made it our primary residence, it's no longer in a trader business, So you lose 1031 capability. 121 is for a personal residence.
- "Can you do a lease option assignment in a Roth IRA? Can you do a sandwich lease option in a Roth IRA?" - Yes and yes. if we have a true option, true sandwich leases option, my understanding is yes, you can do them.
Resources:
Schedule Your Free Consultation
https://andersonadvisors.com/ss/
Tax and Asset Protection Events
https://andersonadvisors.com/live-tax-and-asset-protection-workshops/
https://andersonadvisors.com/
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
https://www.youtube.com/@ClintCoons
Thursday Jul 18, 2024
Thursday Jul 18, 2024
Today Clint Coons, Esq., speaks with Christian Allen and Rod Zabriskie from Money Insights about the strategic use of life insurance policies for real estate investments. Learn how to maximize your financial resources by putting money to work through optimized contributions and leveraging the tax-free advantages of life insurance. Explore the flexibility of funding ranges tailored to your goals and discover how quickly you can access funds. Understand the process of taking loans from your policy to invest and the impact of simple versus compounding interest.
Christian Allen is the founder and CEO of Money Insights. He launched Money Insights in 2014 after working in the financial services industry for over a decade. Christian’s mission is to help high-income earners accelerate their wealth building, optimize their investing, and find new and innovative ways to go from high income to high net worth! He is passionate about entrepreneurship and helping others. He enjoys playing pickleball, watching sports, and spending time with his wife and children.
Rod Zabriskie is the President of Money Insights working directly with clients and the team to create an enjoyable environment for all. He has worked in financial services since 2009, after a decade of working in small businesses for others. He holds an MBA, with an emphasis in entrepreneurship, as well as an undergraduate degree in Marketing Communications. Rod is married to Jodi, and they have 7 amazing children.
Highlights/Topics:
- Don’t just save money to invest, put it to work
- Utilizing the tax code, life insurance as a vehicle
- Optimizing contributions to your policy
- Flexibility - creating funding ranges for a policy
- How soon can someone access these funds?
- How to take out a loan from your insurance policy to invest
- Simple v Compounding interest in this scenario
- Examples of how this concept can work and ‘what if’s’
- Utilize up to 95% of your policy amount - think of it as a line of credit!
- Money Insights can easily help you structure these setups
- Tax-free benefits
- Phase two of the investment optimizer - creating tax-free income
- What happens if you actually DIE?
- Case study - wild client story
- Contact Money Insights to get started
Resources:
https://moneyinsightsgroup.com/aba
Schedule Your FREE Consultation
https://andersonadvisors.com/ss/?utm_source=aba&utm_medium=podcast&utm_content=the-most-profitable-self-storage-investing-strategy
Tax and Asset Protection Events
https://andersonadvisors.com/live-tax-and-asset-protection-workshops/
https://andersonadvisors.com/
https://andersonadvisors.com/podcast/
https://www.youtube.com/channel/UC5GX-U6VbvMkhSM1ONBiW8w
Anderson Advisors Tax Planning Appointment
https://andersonadvisors.com/ss/
Tuesday Jul 09, 2024
Tuesday Jul 09, 2024
Today, attorneys Toby Mathis, Esq., and Amanda Wynalda, Esq., delve into listener questions around topics like the benefits of LLCs for real estate investors, income-shifting tactics, and the implications of the Tax Cuts and Jobs Act on small business owners. The conversation also delves into the complexities of Qualified Business Income (QBI) deductions, using self-directed IRAs for real estate investments, and the tax implications of transferring appreciated property into LLCs. Submit your tax question to taxtuesday@andersonadvisors.com
Highlights/Topics:
- Have you attended an in-person or virtual Tax and Asset Protection Workshops?
- Anderson Advisors has done a great job of creating all the pieces of my estate, but I have no idea how to put it all together. All right, that's a great first one. In particular, how do the holding LLCs flow into my personal tax return and how does the LLC tax as a C-corp get reported on my personal returns? - if your entire structure is disregarded and you're reporting your rental properties on your Schedule E, page one, you would continue to report that exact same thing on Schedule E, page one.
- Can I expense my breeding stock as a dog breeder rather than do depreciation? - They have a seven-year useful life, as “business property”
- Can you please speak about QBI and how it is often missed by business owners? W-2 employees are not allowed to use it. Who else? On the one hand, S-Corps can claim 20% right away. Is this true? - C-corps are separate entities, this is geared to the small business owner
- As a real estate professional, can I also take the depreciation expense from syndications?
- How do I use my self-directed IRA to invest in real estate? - if you have a self-directed, then you can invest in what's considered, I guess, non-traditional types of investments, including real estate
- What is the tax impact of moving an appreciated property into a LLC? - you have like four choices disregarded partnership, S-corp, C-corp. But there's no such thing as LLCs for tax purposes. So we need to know a little more information.
- What are the differences between an HSA and an HRA Health? - HSA is a health savings account and an HRA is a health reimbursement account. So there's actually a number of differences.
- I have been depreciating my rentals for tax purposes. How can I benefit or switch to cost segregation? - They're business property and so residential real estate is depreciated on a 271/2 year useful life and commercial is 39 years.
- How should I set up my stock investing to avoid huge tax penalties? Penalties, yeah, don't worry about the penalties, it's the tax liabilities of making too much money.
- Do you have to be an LLC to get all the tax benefits from purchasing investment properties? - If we're talking about all the tax benefits, probably. But you don't have to have an LLC to own rental property.
Resources:
Schedule Your Free Consultation
https://andersonadvisors.com/ss/?utm_source=aba&utm_medium=podcast&utm_content=how-to-use-your-self-directed-ira-for-real-estate-investing
Tax and Asset Protection Events
https://andersonadvisors.com/live-tax-and-asset-protection-workshops/
https://andersonadvisors.com/
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
https://www.youtube.com/@ClintCoons