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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 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)
Tuesday Feb 25, 2020
Tuesday Feb 25, 2020
What’s the answer to all tax questions? Calculate, calculate, calculate. Fortunately, Toby Mathis and Jeff Webb of Anderson Advisors provide additional information to help you determine what makes sense from a tax standpoint. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- What do you have to file when you have an S Corp and take a salary? Payroll tax forms, possible registration with state, county, and/or city for withholding
- I’m a small business owner who didn’t make any income last year. Do I have to file? Depends on type of small business, but filing is recommended, especially for losses
- How much of my remodel can I claim on my taxes as expenses vs. improvements? Remodel tends to mean improvements; separate improvements from repairs
- Can you claim both the home office deduction and the Section 280A for the same C Corp? No, for technical reasons; reimburse yourself for home office costs and corporate use of house for meetings
- How do you report real estate rental income for properties in a trust? Depends on type of trust and how it’s taxed; may be taxable to grantor
- What determines your state residency when you live in a non-fixed location (RV, boat, etc.)? States typically follow the 183-day primary rule, so depends on where you spent most of your nights, as well as where you’re registered to vote and your driver’s license
- I have a family limited partnership that is going to get a large sum of money. I plan to put it all into a nonprofit. Any taxes owed? A large sum of money is typically a source of adjusted gross income (AGI), which is only 60% deductible
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:
Employer Identification Number (EIN)
Individual Retirement Arrangements (IRAs)
Real Estate Professional Requirements
Capital Gains Exclusion/Section 121
Professional Employer Organization (PEO)
Rollovers as Business Startups (ROBS)
Tuesday Feb 18, 2020
Tuesday Feb 18, 2020
Flipping real estate has been a hot topic for the past few years as a way to make money. Some flippers find success, while others struggle to survive. What are they doing right, wrong, or different? Today, Clint Coons of Anderson Business Advisors talks to Tucker Merrihew, owner of TTM Development Company and host of the Real Dealz Podcast. Tucker describes systems and processes he developed to become a successful real estate flipper.
Highlights/Topics:
- How did Tucker get started in flipping real estate? While starting and growing a mortgage company, he flipped properties on the side to make a profit
- Why did Tucker start TTM Development in 2008? Mortgage markets imploded and real estate changed; created company to buy REOs from MLS and at auctions, as well as negotiate short sales to avoid foreclosures
- What has changed at auctions since then? Advances in technology and additional service providers have made it more competitive and difficult to get worthwhile deals
- What is direct-to-seller marketing? Tucker takes out the middleman and works directly with those who own real estate
- What’s the key to successful marketing that generates the biggest return rates? TTM Development’s marketing stands out from its competition by trying, testing, tweaking, and retesting ways to be different
- Marketing costs money, so how does Tucker’s company make money? Three buckets:
- Long-term Money: Redevelopment/new construction
- Medium-price Point: Renovation
- Wholesale: Buy property, then sell it for various reasons to generate profit
- How does Tucker’s team determine where to drop mail? Driving 4 Dollars (D4D) App
- How can real estate flippers raise money to get their business funded? Internal capital, private money, and hard money
- How and where to find good contractors? You get what you pay for, if you value cost over quality, pick one or the other or something in the middle
- What will impact the real estate market in 2020? Supply, demand, and interest rates
- What are must-dos for new investors? Understand it’s a marketing business first and real estate business second
Resources
Tuesday Feb 11, 2020
Tuesday Feb 11, 2020
Spend a little bit of time and money to learn a lot about taxes and put much more money in your pockets. What do you have to lose? Nothing. Toby Mathis and Jeff Webb of Anderson Advisors offer fun and educational tax discounts and freebies. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- I may inherit a timeshare that I’m sure has fees with it that I don’t want. How do I figure out the details to get out of it? Disclaim/bequest your inheritance
- Is all the funding for legal costs to start a business tax deductible? Organizational costs can be expensed up to $5,000 in the first year
- Which is the best way to fund an Airbnb; cash or mortgage, if money is no issue? Depends on mortgage interest rate to get better capital return, or invest cash elsewhere
- Can you have both a private and public foundation? Yes, you can control both, but can’t own them
- What IRS requirements are necessary to qualify as a real estate professional? Refer to 26 U.S.C. 469C7 to change real estate losses from passive to active
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:
Real Estate Professional Requirements
Individual Retirement Arrangements (IRAs)
Capital Gains Exclusion/Section 121
Rollovers as Business Startups (ROBS)
Tuesday Feb 04, 2020
Tuesday Feb 04, 2020
Most businesses only manage to survive three to five years. Business owners who make it past the five-year mark should be proud of their background, knowledge, and experience in the industry. They stay afloat and make it through minor to major downturns by knowing how to talk the same language and turn a profit. Today, Michael Bowman of Anderson Business Advisors and Bowman's Business Brief talks to Eddie Gant, co-owner of Jet Lending, LLC. The asset-based lender started investing in the real estate business by buying, fixing, and flipping distressed properties, but decided to take a leap into lending, as well.
Highlights/Topics:
- How to evaluate asset-based lending? Multiple forms of protection; #1 is collateral
- Why go to an asset-based lender? Security, safety net, and speedy closing of deals
- Is it a good deal or not? Second set of eyes to review deals; include terms to get an out
- How has the industry changed? Increased competition and bigger audience
- Who to include on your team and build your network? Responsible and reliable partners, contractors, insurance companies, roofers, and structural engineers
- What’s the hardest part of the business? Not finding deals but managing contractors
- How did lottery curse lead to one of Eddie’s biggest wins? Bought house from Texas lottery winner who burned through millions of dollars in a few months
- How to create a win-win for client and company? Do business right to build clientele, your brand, and word-of-mouth referrals without needing to be the cheapest
- Are meetups worthwhile, why? Education, networking, and fostering a community
Resources
Tuesday Jan 28, 2020
Tuesday Jan 28, 2020
Bookkeeping has been around forever, even before the days of QuickBooks software and spreadsheets. Toby Mathis and Jeff Webb of Anderson Advisors welcome a special guest, Troy Butler, to discuss how bookkeeping began and evolved to track, document, and record transactions. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- Should I hire a bookkeeper for my business, or do it myself? Depends on level of detail and number of transactions
- We have several companies. What’s the best way to pay and track expenses for each? Whether each company needs a separate set of books depends on if the companies are related or not, and go on the same tax return
- What’s the best way to set reminders of accounting tasks that I should do? Set up monthly or quarterly tasks; don’t let everything build up and do it all at once
- What’s the difference between a profit-and-loss (P&L) and balance sheet? Balance sheet lists your assets, liabilities, and equity for the company; P&L shows profitability for specific timeframes
- How do you keep track of reimbursable expenses before your corporation makes a profit? Even if not profitable yet, you need to track your expenses and income
- What are some tips to get good bookkeeping results with the least amount of effort? QuickBooks, Peachtree, spreadsheets, and calendars; automate as much as possible and consistency is critical
- When we take money out of the holding company to use for personal expenses, how do we handle that in the bookkeeping? Distribution recorded as an equity item
- Is it legal to put personal funds directly into our holding company, and how do we document that in our bookkeeping? Yes, that’s allowed; you can put your money into your company, but it’s your money and you can take it back later, if needed
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 Bookkeeping Services (Discount Code: BookTax)
Real Estate Professional Requirements
Capital Gains Exclusion/Section 121
Individual Retirement Arrangements (IRAs)
Save A Vet With A Pet – 1 Veteran Foundation
Tuesday Jan 21, 2020
Tuesday Jan 21, 2020
You know it’s time to make a career change when your job becomes more difficult to be both profitable and fun. Today, Toby Mathis of Anderson Business Advisors talks to Ken Harris of Harris Properties Investment Real Estate and Austin Commercial Real Estate Investing Group. Ken was born and raised in Houston. He went to the University of North Texas to study economics and finance because he wanted to be a banker or stock broker. However, after serving in Vietnam for a year and four years in the Air Force, he decided to return to Texas, but not Houston.
Highlights/Topics:
- How did Ken end up in real estate? He didn’t want a state job or work for a corporation and be transferred after a few years
- Why did Ken wish he would’ve never done residential real estate? Didn't know any better
- What should Ken have done? Started directly with commercial business, mostly doing side acquisition for users
- What happened to Texas in the mid-80s? Economic crisis, a total collapse, where Ken ended up with a lot of debt and real estate
- Why did some of the richest people and homebuilders in Texas declare bankruptcy? Lenders no longer giving loans or wanted loans paid back
- How did a two-week projet turn into a 25-year career? Friend in construction business asked Ken to find locations, property owners, and negotiate deals for cell phone towers
- What is Ken’s secret to success? Living a long time and owning places so long to build up some good equity
- Why Ken decided to be a passive investor by getting into apartment syndication? Didn’t want to work hard or have as much responsibility, so converted his equities
- Why did Ken decide not to be a deal sponsor? Wanted to build a portfolio around his lifestyle and love for the outdoors
- How did Ken pick his syndications? Focus on who's running/sponsoring them; know those people are in a position to take care of what needs to be done
- Why meetup for lunch every Tuesday? Networking and education are primary focuses for Austin Commercial Real Estate Investing Group
- What are some of Ken’s biggest wins? Holding onto real estate and then selling it; although it stabilizes, it doesn’t usually go down much
- What’s Ken’s advice about the world of investing? Understand what passive income is, how you establish it, and how you can make it work
Resources
Austin Commercial Real Estate Investing Group
Ken Harris’s Phone: 512-288-2022 or 512-663-2022
Ken Harris’s Email
Rich Dad Poor Dad by Robert Kiyosaki
Tuesday Jan 14, 2020
Tuesday Jan 14, 2020
Do you have enough money saved up for your retirement? Do you feel good about your golden years? The good news is that legislation was passed recently. It’s called the Setting Every Community Up for Retirement Enhancement (SECURE) Act. However, it means saying goodbye to stretch IRAs and age limits on IRA contributions. Toby Mathis and Jeff Webb of Anderson Advisors answer SECURE Act and other tax questions that may impact your financial future. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- I am trying to qualify my wife for real estate professional status, and she will go part-time next year. She is a physician. How will IRS treat her on-call duty hours? Only count hours she is actually working on real estate, not her on-call duty hours
- I have significant start-up costs for training prior to the establishment of my LLC (C Corp). Are there alternatives to recapturing the start-up costs in less than 15 years? No, but you can write off $5,000 for up to $50,000 in start-up costs the first year
- I am interested in providing a Wellness Plan for my employees. How do we structure it, so it isn’t taxable income for employees? Non-taxable benefit to company, and non-deductible benefit to employees
- Is gap lending income passive or active for a 401(k)? Gap lending is lending and passive/interest income; not an active business
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)
Real Estate Professional Requirements
Capital Gains Exclusion/Section 121
Garn-St Germain Depository Institutions Act of 1982
Rollovers as Business Start-Ups (ROBS)