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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 May 05, 2020
Tuesday May 05, 2020
Do you know all there is to know about the relief provisions in the CARES Act for accessing money due to the COVID-19 crisis? It absolutely has an impact on health and the economy. None of it is going as planned, but additional guidance is available. Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions during this challenging time. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- Updates on Tax Impact of COVID-19:
- Paycheck Protection Program (PPP) and Health Care Enhancement Act passed, signed into law
- Other than deadline to July 15, states not allowing deferred payments
- Economic Injury Disaster Loan (EIDL) is not a loan, but an emergency grant
- How do I file for unemployment payments if I'm an independent contractor? Independent contractors are now eligible, but most states aren't set up yet to do distributions
- Do you know why some people received $1,200 in their account while others didn't? Even when they use ACH? People using TurboTax, H&R Block, Jackson Hewitt, and Liberty Tax got or asked for an advance on their refund for a small fee
- Does the CARES Act allow me to deduct losses from W-2 income with prior year accumulated passive activity losses? No changes were made to passive activity loss rules; if you accumulated PAL, you cannot carry those back
- Can I apply for unemployment and the PPP? Yes, the two are completely separate
- Can I deduct my entire home cost since all of us are working from home? No, if working from home as an employee, it's an employee/non-reimbursable expense
- I have not done my 2019 taxes. Can I still apply for CARES under government bailout programs? Yes, just use something as a backup
- Can I apply for PPP if I did with one bank that has not approved the loan? Yes
- How much EIDL can I qualify for? How is it calculated? Up to $2 million; half of your gross profit
- Any idea when money is deposited after signing the PPP loan? Yes, 10 days after receiving an E-tran number, bank has to provide funding
- Can passive losses from cost segregation be taken on W-2 income if spouse is a real estate professional? Yes, either spouse qualifies, as long as married and filing jointly
- Would getting my real estate license have more benefits for being a real estate professional? Depends if you're using it
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 Business Ownership by Toby Mathis
Unlock Free Money from the New Stimulus Bill - CARES Act with Clint Coons and Toby Mathis
Paycheck Protection Program (PPP)
Economic Injury Disaster Loan (EIDL)
COVID-19 and the Family and Medical Leave Act Questions and Answers
Small Business Administration (SBA)
Individual Retirement Arrangements (IRAs)
Non-Filers: Enter Payment Info Here
Real Estate Professional Requirements
Capital Gains Exclusion/Section 121
Tuesday Apr 28, 2020
Tuesday Apr 28, 2020
How can you prepare for present and future real estate investment opportunities? Today, Michael Bowman of Anderson Business Advisors and Bowman's Business Brief talks to Aaron Adams, CEO of Alpine Property Management and Alpine Capital Solutions. Aaron shares statistics and insights on getting good deals during economic ups and downs.
Highlights/Topics:
- What’s the starting point to conduct macroeconomic research and evaluate real estate markets? Harvard University’s Center for Housing Studies Website
- What are counterintuitive things about the current economic state? Nobody knows how housing market will be impacted by Stock Market, Silver Tsunami, and other factors
- What are current risks regarding real estate? Mortgages, unemployment rate, property tax increases, and over-abundance of housing
- What’s different this time compared to the 2008 real estate market crash? No subprime mortgages, housing shortage, and lower vacancy rates
- How, when, and why reallocate retirement? Get financial house in order for opportunities and to address competition
- Is leverage the way to go? Leverage is a tool that shouldn’t be overused
- What are proactive tenant strategies? Educate, communicate, and waive fees
Resources
Harvard University’s Joint Center for Housing Studies
Tuesday Apr 21, 2020
Tuesday Apr 21, 2020
Where’s the cash, and what will give you the most bang for your buck? As you learn more about COVID-19 and related tax relief options, you probably have more questions. Toby Mathis and Jeff Webb of Anderson Advisors offer clarification on how and when to consider early distribution, loans, and paycheck protection. Time is of the essence. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- COVID-19 Tax Impact Updates:
- Paycheck Protection Program (PPP)
- Economic Injury Disaster Loan (EIDL)
- July 15, not April 15: Deadline to file and pay income taxes
- If I don’t have W-2 income, how do I qualify as a real estate professional as LP investor in real estate deals? It’s about time, not income, but there are restrictions
- Are you qualified for a PPP as a sole member LLC? Yes
- How did the SECURE Act change treatment of spousal-inherited IRAs and required minimum distributions from those IRAs? SECURE Act didn’t change anything that had anything to do with spousal-inherited IRAs
- Can I still file 2019 taxes to qualify for the COVID relief funds? Yes, if you didn’t make too much money in 2018
- How does the stimulus affect taxes for property owners? CARES Act doesn’t impact taxes for property owners
- I didn’t file in 2018 or 2019, will I still get the stimulus, if I qualify? Depends, if you are on social security and/or you’re required to file a tax return or not
- Does the bill have provisions for unemployment compensation for those self-employed? Yes, federal government requires states to pay unemployment
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 Business Ownership by Toby Mathis
Unlock Free Money from the New Stimulus Bill - CARES Act with Clint Coons and Toby Mathis
Paycheck Protection Program (PPP)
Economic Injury Disaster Loan (EIDL)
COVID-19 and the Family and Medical Leave Act Questions and Answers
Small Business Administration (SBA)
Individual Retirement Arrangements (IRAs)
Real Estate Professional Requirements
Capital Gains Exclusion/Section 121
Employer Identification Number (EIN)
Non-Filers: Enter Payment Info Here
Tuesday Apr 14, 2020
Tuesday Apr 14, 2020
How many real estate investment deals do you do? How much profit do you make on each deal? Number or profit, which should you focus on? Cut through the clutter to find more profitable real estate investments. Today, Clint Coons of Anderson Business Advisors talks to Max Keller from Customers Chasing You. Max has more than 15 years of experience in real estate, finance, and teaching. Also, he has flipped more than 100 houses. Max shares five ways marketing attracts motivated sellers.
Highlights/Topics:
- What makes Max an expert? Information he provides generates results
- What sparked Max’s interest in real estate investing? Avoid pain by flipping houses
- Why does Max choose to work with seniors? Raised right by grandmother; loyal niche needs help with deferred maintenance
- What are Max’s five ways marketing makes more money on your average deal?
- Direct Mail: Stack quality multiple lists and pieces with good data to track results
- Transitional Call to Action: Address pain points via benefits statement
- Customer Service vs. Sales: Understand customer’s buying cycle
- Develop Niche: Teach expertise to create better value proposition for customers
- Superpower Principles: Become author for authority, expert, and celebrity status
- How can investors differentiate themselves and cultivate customers? Answer the phone, make them a priority, and build a lead funnel
- What’s the fastest way to increase results in your marketing? Change customer’s perception of you in their mind
Resources
Customers Chasing You (Free Tools, Templates, Books)
Tuesday Apr 07, 2020
Tuesday Apr 07, 2020
As most of us experience financial hardship due to the COVID-19 pandemic, there is support through the new Coronavirus Aid, Relief, and Economic Security (CARES) Act. When doing your federal and state income taxes, stay up to date and safe. Toby Mathis and Jeff Webb of Anderson Advisors continue to practice social distancing to answer your tax questions. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- What are updates on the tax impact of COVID-19?
- Tax Grace Period: July 15, not April 15 is deadline to file your federal taxes
- Families First Act: Addresses FMLA and other payments
- CARES Act: Options for everyone, from forgivable loans to stimulus checks
- Is the stimulus check based on adjusted gross income (AGI) or taxable income? AGI for 2018 or 2019 determines if you qualify for stimulus check
- How to apply for stimulus check, if you qualify? No need to apply, IRS direct deposit
- Can a partnership LLC be assigned directly to a living trust? Yes
- Can I hire someone outside the United States to do my bookkeeping? Don’t do it
- What are the best practices for a small business to record and track its profit/loss expenses? Check your numbers and hire a qualified bookkeeper
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:
Unlock Free Money from the New Stimulus Bill - CARES Act with Clint Coons and Toby Mathis
Tax-Wise Business Ownership by Toby Mathis
Paycheck Protection Program (PPP)
Economic Injury Disaster Loan (EIDL)
Family and Medical Leave Act (FMLA)
Individual Retirement Arrangements (IRAs)
COVID-19 and the Family and Medical Leave Act Questions and Answers
Employer Identification Number (EIN)
Capital Gains Exclusion/Section 121
Tuesday Mar 31, 2020
Tuesday Mar 31, 2020
Where can you find good deals? It’s getting harder to do because investors compete for the same properties. If a property is on MLS for more than five days, it's not a deal. Today, Clint Coons of Anderson Business Advisors talks to Keith Aichele of FSBOVault.net. Keith is a real estate investor who has sold more than 1,200 deals and found a way to make a profit from MLS properties. Keith’s upstream investing system finds deals, beats the competition, and takes investing to the next level.
Highlights/Topics:
- What opportunities are real estate investors missing, and why? People aren’t looking at available opportunities and need help/guidance
- What are Keith’s investing strategies? Real estate investors are marketers who need to market their business and structure financing
- How does Keith find deals and buy MLS properties? Access to lists of foreclosed and auction properties—MLS is full of these types of properties
- What happens when you're not even competing with the people downstream? They're not on the ‘no default’ list
- How does Keith differentiate himself from other people who inundate the market? Focus on marketing, be where the competition's not, and create relationships with sellers
- When and why do sellers get distressed? Most markets have more than 9,000 properties on the market for more than 90 days; Keith makes offers before distress sets in
- What is Subject To Investing? Is it equity stealing? Buying and creating pretty homes and decorating them is not that easy to do, and ‘Subject To’ goes over people's heads
- What is a Contract for Deeds? When you work with a seller, they may not need to sell and get all their cash out of the property
- What are ‘Subject To’ risks? Property drains cash flow out of your bank account; don't go into foreclosure and destroy your credit
- What is FSBOVault’s predictive behavior process? Search for stale listings, seller’s mindset shift, and reduced listing price
- How can you prevent the realtor from ruining a deal? Get the realtor on your side; it's in their best interest to not lose the listing
- What’s FSBOVault.net’s Guaranteed Offer Platform? Investors leverage the platform to make multiple and full-price offers on properties guaranteed within 1-7 days
- What multiple options does Keith tend to give sellers? Full-price offer with caveats or serve as a backup buyer
- Why look at foreclosure lists? All properties going to foreclosure, auction, or share of the sale are missed opportunities by investors
- When investors buy properties ‘Subject To,’ are they taking over the seller’s mortgage? No, they’re paying the mortgage to keep it current
- What does FSBOVault.net teach investors to help people earlier upstream to avoid foreclosures and auctions? Don't focus on properties; focus on sellers and people
Resources
NextGen Real Estate Investing (Regularly $297, only $47 with Promo Code: ANDERSON)
Blue Ocean Strategy by Chan Kim
Tuesday Mar 24, 2020
Tuesday Mar 24, 2020
Despite delays, closures, and quarantines due to the Coronavirus (COVID-19), you still need to file your taxes. So, Toby Mathis and Jeff Webb of Anderson Advisors spent St. Patrick’s Day answering tax questions to help you through this difficult time. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- What are the updates on the tax impact of COVID-19?
- April 15: Deadline to file your taxes still applies, but individuals that owe less than $1 million and businesses that owe less than $10 million can file a 90-day grace period extension to pay their taxes without being charged penalties and interest
- Families First Act: Passed by House of Representatives, but still under review by Senate because major mistakes need to be corrected to address Family and Medical Leave Act (FMLA) and other payments
- If I get married while owning a property in an LLC, will my spouse also be protected under the same LLC? LLC is not necessarily protecting you and your spouse, but the property in the LLC and whatever happens to it
- If I purchase a business from someone, how does the entity transfer over? Two types of business purchases: Stock purchases or asset acquisitions
- My business started in 2019, and we don’t have money for a CPA. Can I submit a 1065 partnership form for my small business myself? Yes, you can, but it’s not recommended because failing to file a 1065 on time has a $205 penalty per month/per partner
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:
Anderson’s Guide to Creating Your Private Vault by Greg Boots (Coupon Code: PV2020 for $20 off)
Tax-Wise Business Ownership by Toby Mathis
Family and Medical Leave Act (FMLA)
Individual Retirement Arrangements (IRAs)
Real Estate Professional Requirements
Capital Gains Exclusion/Section 121
Rollovers as Business Startups (ROBS)
Employer Identification Number (EIN)
Tuesday Mar 17, 2020
Tuesday Mar 17, 2020
If you have a corporation or LLC, you’re going to be dealing with securities. Do you know what you need to know when it comes to fundraising and securities compliance? In this episode, Toby Mathis of Anderson Advisors talks to Chris Myers of Holland & Hart about the basics of raising capital for investment and real estate projects. Chris assists public companies with corporate transactions and investment advisers with the formation and operation of private investment funds.
Highlights/Topics:
- Securities Transaction and Compliance: If someone gives you money, and you take that money to build your business, you are expected to give it back
- Fundraising Pitfalls: Securities regulators are out to get all those that intentionally or unknowingly commit fraud via securities transactions
- Debt or Equity: Securities transactions may allow regulated exemptions or exclusions
- Examples of Exclusions: Something isn’t considered a security and doesn’t need to be regulated, such as bank stocks
- Examples of Exemptions: Security involving pre-existing accredited investor and doesn’t need review; refer to Section 482 and Jumpstart Our Business Startups (JOBS)
- General vs. Non-General Solicitation: Unlimited or limited number of investors known or not, such as friends and family, buying security and owning equity in your business
- Loans and Less Risk: Corporate diligence picks up non-compliance securities offering
- Non-Compliance Penalties: Depends on broken rules and involves decision by securities regulators, investors, and commissions
- Road Trip: When raising money, move in the right direction by following the rules and regulations, such as Rule 506(c) and Regulation D
- Offering Memorandum: Describe, document, and disclose key risk factors to investors; avoid misunderstandings and missing funds
Resources
Chris Myers’s Phone: 702-669-4621
U.S. Securities and Exchange Commission (SEC)
Financial Industry Regulatory Authority (FINRA)
Jumpstart Our Business Startups (JOBS) Act
Tuesday Mar 10, 2020
Tuesday Mar 10, 2020
Tuesday, March 3, 2020: Was it super for you? It depends on facts and circumstances. Who and what is best for you? Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions related to mental health care, short-term rentals, and retirement because life is about more than just money. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- Are there tax rules that allow farmers to accelerate depreciation for farm equipment? Farmers can take Section 179 and bonus depreciation, but they have a slower recovery
- How do you keep track of your reimbursable expenses before your corporation makes a profit? Make sure corporation is reimbursing you for all your expenses and report them at corporate level as loss
- What tax rate do I have to pay on an early withdrawal from my IRA? Some exceptions, such as age and financial hardship, but marginal tax rate is about 22% plus 10% penalty
- How can we write off the tuition for our training? If already in a field or career, tuition for training should be written off to business; if not, write off as a startup expense
- My sister and I are partners in our LLC. She is now on disability. How can she receive profit from the business now? No material participation to receive passive income
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 Arrangements (IRAs)
Capital Gains Exclusion/Section 121
Real Estate Professional Requirements
Rollovers as Business Startups (ROBS)
Tuesday Mar 03, 2020
Tuesday Mar 03, 2020
Texas is a great place to invest in residential real estate for cash flow and appreciation. If you’re looking to invest, find the right market and the right real estate professional. Why? Most agents don’t know how to help investors buy or sell properties. Today, Clint Coons of Anderson Business Advisors talks to Jason Reynolds of Visions Realty & Investments, Inc., which offers client-focused service for investors wanting to buy or sell real estate. Jason is a full-time licensed broker and realtor in the Dallas/Fort Worth Metroplex. He has sold more than 300 units, closed over $40 million in volume, and hosts the Real Estate Now Podcast.
Highlights/Topics:
- Why did Jason start in real estate? Followed in the family business. His great-grandfather was a broker from the 1950s till the 1990s in Corpus Christi, Texas.
- Who trained Jason to be a broker? Steve Fithian, company founder and current broker.
- Why be a broker working with investors? Few brokers focus on investment properties and understand how to look at them, find them, work with the client, and analyze it.
- Why do most agents not work with investors? They don’t have the bandwidth or understanding. It takes a lot of knowledge, time, and expertise.
- How to find investment-grade residential real estate? Local Board of Realtors, find names of top sales agents, interview a few, pull MLS data, and perform due diligence.
- Do you have to be all in with either investors or homeowners? Depends on the person or company. Visions Realty takes pride in doing 90–95% of its business with investors.
- What issues occur with occupant vs. investment transactions? Unexpected and unique issues that are unfamiliar to real estate agents that don’t work with investors daily.
- If someone wants to buy investment property through financing, do investment brokers have lenders to refer people to? Refer them to at least three recommended providers.
- Is the realtor or investor expected to find property management teams? If you’re the investor, you’re making the decision. Get recommendations, but always vett them.
- What’s the difference between new build vs. existing for investment property? Depends on the client’s goals, stage, and long-term plan.
- Are new properties going to turn into a rental vs. existing property? Will that CapEx impact your cap rate? With new builds in the DFW area, typically you reduce your cap rate a couple points, as opposed to a pre-owned property.
- For an investor coming into a new market, should they find an area with more owner-occupied properties? Yes, it will help you to attract and keep tenants.
Resources
Jason Reynolds’s Cell Phone Number: (817) 269-0988
Employer Identification Number (EIN)