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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
Thursday Jul 20, 2023
Thursday Jul 20, 2023
In this episode, Clint Coons, Esq. speaks with Dr. Param Baladandapani, CEO of Generational Wealth MD. Dr. “Bala” went from a ‘burnt-out radiologist’ to a retired real-estate investor in one year, at the age of only 41. Dr. Bala’s advice, methods, and insider information can help you ‘accelerate to financial independence by investing in real estate the right way.’
Param Baladandapani is a radiologist in Southern California who built a multi-million dollar real estate portfolio and financial independence at 41. As Founder and CEO of Generational Wealth MD, she has helped thousands accelerate toward financial freedom through her coaching program and syndication opportunities. She is passionate about paying it forward and has helped establish a nonprofit educational trust in rural India that is focused on empowering and educating children with disabilities.
Highlights/Topics:
- Bala’s journey from full-time physician to acquiring rentals for passive income
- The mindset shift to real estate and passive income
- Reasons that people shy away - time, money, risk, knowledge, team
- Time you put in now will multiply exponentially on the back end
- There are options and strategies for wherever you are in life
- Educate yourself to get started - where can you start?
- Finding the right coach, mentor, or team
- Stress-testing your properties, cash flow on day one
- Short-term, mid-term, long-term rentals
- Surrounding yourself with the right people who have the right mindset
- Leaving communities that are no longer helping you
- Investments right now - syndication opportunities and joint ventures
- You’re never going to be “ready” to start - just start with one tiny step!
Resources:
FREE Passive investors Guide to investing in Real estate Syndication -
- Defining your buy box,
- Vetting the market, Deal & Sponsor
- Due Diligence checklist
https://www.generationalwealthmd.com/guide
https://www.generationalwealthmd.com/LTR%20calculator
https://www.generationalwealthmd.com/str-calculator
Financial Independence Worksheet
https://www.generationalwealthmd.com/financial-independence-worksheet
https://www.generationalwealthmd.com/free-ebook
Free Virtual LIVE event is open for registration
http://www.generationalwealthmd.com/event
http://www.city-data.com/
https://www.generationalwealthmd.com/
https://www.linkedin.com/in/param-baladandapani-md-abb693232/
https://andersonadvisors.com/
https://andersonadvisors.com/podcast/
https://www.youtube.com/channel/UC5GX-U6VbvMkhSM1ONBiW8w
Tuesday Jul 18, 2023
Tuesday Jul 18, 2023
In today’s episode, Toby Mathis, Esq. speaks with Karim Hanafy, Esq., about the top ten most common mistakes that are made when setting up a non-profit 501(c)3. From issues with state vs. federal requirements, to describing your charitable activities, compensation of your board, and the ever-important asset protection, Karim has seen every mistake possible and wants to help you have a seamless experience when setting up your non-profit organization. See the links below for a free workshop from Anderson Advisors.
Highlights/Topics:
- Karim’s background/expertise in non-profits
- Top 10 mistakes in no particular order
- Accidental setups in the wrong structure: For-profit, B-corps, LLC’s
- State requirements for Articles of Incorporation vs. Federal
- Describing your charitable activities
- Incorrect terminology that triggers investigation and delays
- Public charity or private foundation?
- Compensation for directors and officers, board members
- Filing tax returns
- Donating different types of assets - professional appraisals and the correct forms
- Donor thank you letters and the IRS-required language
- Asset protection
Resources:
Start Your Nonprofit Plan in 45 Minutes For Free
https://andersonadvisors.com/nonprofit-501c3/
khanafy@andersonadvisors.com
https://www.youtube.com/c/tobymathisesq
https://andersonadvisors.com/
Thursday Jul 13, 2023
Thursday Jul 13, 2023
In this episode, Clint Coons, Esq. and Aaron Adams, CEO of Alpine Capital, discuss how to shift focus in the real estate investment space to maintain double-digit growth. Aaron has maximized investments in a market plagued by a shortage of 6 million homes by purchasing RV parks, KOA campgrounds, and mobile home parks to convert them to long-term manufactured home communities. Check the resource links for upcoming live event dates from Alpine Capital in Indianapolis and Idaho.
Aaron Adams has been a full-time real estate investor since leaving his job teaching high school Spanish in the early 2000s. He has purchased thousands of properties in California, Indiana, Missouri, Texas, Florida, Idaho, Nevada, North Carolina, and Illinois, focusing on single-family and manufactured homes in blue-collar and middle-class neighborhoods.
Highlights/Topics:
- Aaron’s journey from the classroom to real estate investment
- Shifting direction to find opportunities
- The industry is short 6 million homes
- Navigating the manufactured home market
- Each month, Alpine offers investors a class to learn their methods- in person or live streamed
- The emotional risks of “over-rehabbing” rental properties
- Affordable housing is at crisis level
- Accessory-dwelling units- upping your real estate game
- Importing storage units from China vs. stick-built
- The impending impact of the commercial crisis
- Active and passive solutions at Alpine Capital events
- Long-term relationships are the goal at Alpine’s live events
Resources:
https://alpinecapitalsolutions.com/
http://rebecca@alpinecs.com/
Alpine’s Cash Flow Summit - Upcoming Dates
https://alpinecapitalsolutions.com/events/
https://www.linkedin.com/in/aaron-adams-621401196/
https://andersonadvisors.com/
https://andersonadvisors.com/podcast/
https://www.youtube.com/channel/UC5GX-U6VbvMkhSM1ONBiW8w
Thursday Jul 06, 2023
Thursday Jul 06, 2023
In today’s episode, Toby Mathis, Esq. speaks with ex-NFL linebacker turned Ivy League professor Brandon Copeland about his financial literacy eCourse program ”Life 101” which was designed to make financial freedom accessible for everyone. The program tackles everything from opening a savings account, to stock market investing, to buying your first home.
In his career and life, Brandon realized that many financial opportunities were inaccessible to most people – if they even knew about them at all. Life 101 provides the resources and information needed to build your financial future. Check the resource links for a free membership to Life 101 available exclusively for our Infinity Investing members.
Highlights/Topics:
- Brandon’s background and path to creating “Life 101”
- Making money “conversational” with the Life 101 program
- Over 90,000 high schoolers have taken this course so far
- Why aren’t money matters taught in high school and college?
- New money - lottery winners, NFL players, are bombarded with people overnight
- Accountability
- Changing young lives drastically with Life 101
- Stats on “overnight millionaires”
- NFL players, even you, are a ‘walking asset’ or a Fortune 500 business - who are you surrounding yourself with?
- Final thoughts around Life 101, the partnership with Infinity Investing, and Cope himself
Resources:
https://www.life101.io/about
With your Infinity Investing Starter Membership or 360 Pro Membership, you’ll have access to a complimentary enrollment of Life 101. Become a Member TODAY!
https://infinityinvesting.com/pricing/
https://www.youtube.com/c/tobymathisesq
https://andersonadvisors.com/
Tuesday Jun 27, 2023
Tuesday Jun 27, 2023
Welcome to another episode (#197!) of the Anderson Advisors Tax Tuesday show. Host Toby Mathis, Esq., joins our regular guest Eliot Thomas, Esq., Manager of Tax Advisors at Anderson Business Advisors, to help answer your questions.
On today’s episode, Eliot and Toby answer listener inquiries including the requirements and tax implications for selling your home to a relative in installments, how to minimize taxes on profits from crypto-trading, and the pros and cons to investing in stocks within a Roth or Regular IRA/401K.
If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- "Is there a tax ramification of selling my personal home to my daughter via an installment sale? I have lived in the home for more than two years as a primary residence. Will I be able to still use their section 121 exclusion, even though I'm selling to a related party?" – You can sell to your daughter and still be eligible, provided we meet all the other boxes…You can sell to a related party, but you have to recognize all the gain up front.
- "I'm considering taking a small salary from my stock trading business. It's a dual LLC Partnership, which means a C-corp and a partnership through Anderson later this year if the C-corp ends up with taxable income. What are the tradeoffs of deferring that into a 401(k), both positives and negatives like income, payroll taxes, and benefit of paying those for Social Security calculation, et cetera?" - As Toby always says, this is a calculate, calculate, calculate moment. If you take it out as salary, then one consideration—there are a lot of different variables here—is your personal tax rate below 21%?
- "For our C-corp, we're aware that cleaning services of our personal residence can be deducted from our corporate taxes." It can? Well get into that. "Would the total expense of cleaning be a write-off or would only a portion of the total expense be a write-off since the entire house is not used for business? Would lawn services be treated the same way?" – if you are using part of it as a home office deduction or administrative office reimbursement deduction, either way, you can throw in an element for the cleaning…
- "When starting my Infinity Investing journey, should I start purchasing stocks inside of a type of retirement tax-deferred account of some sort, or should it be outside of that in order to use it for leverage or some real estate investing later?" - Here's the easy rule. If you're in a higher tax bracket than you will be when you retire, defer it. If you are in a lower tax bracket now than you will be when you retire, then put it in a Roth.
- "I have been learning and experimenting with earning dollars through crypto trading. Can you please tell me how to minimize taxes with profits earned through crypto platforms?" – we do the same trading partnership that we talked about earlier. Set up a partnership, put the account into that partnership.
- "My California CPA said that regardless of what type of entity I put my California rental property in, California will still want to get the $800 franchise tax board fee." The Board of Equalization fee. That's the minimum fee they charge. "Would that be true even with a Wyoming Statutory Trust?" - Chief Counsel's Office has already said it's treated as a business trust, and it's not taxable. It's not subject to the $800 a year, period, full stop.
- "Does a cash out refi adjust my basis and multifamily apartments? If not, how can we step up in basis before I sell if I have a lot of equity and depreciation already taken?" - Generally speaking, a refi, all you've done is you've changed your equity in your house into cash. You're just changing asset to asset. That doesn't change your depreciable basis in that property.
- "How does the Corporate Transparency Act impact the timing of real estate investment decisions from a tax efficiency perspective?" - It doesn't have any impact on your taxes whatsoever. This has nothing to do with taxes at all. I just wanted to get cleared out there for those who are listening.
- "In creating a living trust, is it necessary to pay capital gains tax on real estate assets as they are transferred into the trust?" - This is really simple too. There's no taxable transaction moving assets into a living trust. It's a revocable grantor trust. You haven't done anything in the way of taxes.
- "I have carried a $600,000 loss since 2011. I am a real estate professional with an S-corp. Is there an alternate way to use that? I can't live long enough at the $20,000–$25,000 max deduction." - You need passive income. You need lots of passive income to wipe out that passive loss. You want to recognize that passive income. You probably don't want to be a real estate professional.
Resources:
taxtuesday@andersonadvisors.com
Tax and Asset Protection Events
https://andersonadvisors.com/real-estate-asset-protection-workshop-training/
https://andersonadvisors.com/
http://aba.link/youtube
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
Tuesday Jun 13, 2023
Tuesday Jun 13, 2023
Welcome to podcast episode #196 from Anderson Business Advisors, and this week’s edition of the Tax Tuesday show. Host Eliot Thomas, Esq., Manager of Tax Advisors at Anderson Business Advisors, welcomes Kurt Bergfjord, Esq.,Tax Consultant for ABA and CPA for Entrepreneurial Business Services at Mazars, to help answer your questions. We send a big thank you to all our people online answering your questions online today including Dana, Jared, Ross, Tanya, Troy, all from different departments, bookkeeping, tax advisors, the nonprofit department, attorneys, etc..
On today’s episode, Kurt and Eliot discuss the dos and don’ts of business partnerships and the best way to structure them, deducting medical expenses incurred outside the U.S. (along with what the IRS allows as an HSA reimbursement), and the usual array of questions around short-term and long-term rentals.
If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- "If bonus and accelerated depreciation were taken in 2022 via a cost seg on Schedule C, how many years does the IRS require that property to meet the active short-term rental criteria after the fact?” - There really is no requirement for you to keep it as a short-term rental from year to year to year. It's a year-by-year, a tax year by tax year determination.
- "We have a two member LLC taxes a Sub S or just commonly known as an S-corporation. Two members or two shareholders. Each member/shareholder contributed a substantial amount of money of capital over four years. They're putting a lot of money into this S-corporation, both of them, he or she. Can a member be bought out tax-free by the LLC by giving them a sell price in the form of capital distributions?" - It’s really no different than selling any stock, subtracting the shareholder basis…
- "If a medical procedure is performed in Mexico, can you use your health reimbursement account from your C-corporation?" - The actual medical expense certainly could be deductible anywhere. But when we talk about other types of auxiliary medical expenses like lodging and things like that, that is where we have to be a little bit more careful about what deductions we're taking. No personal pleasure or vacation along with it.
- "Is there a list of IRS allowable health care expenses that can be reimbursed under Section 105 HRA (Health Reimbursement Arrangement), which is what we often set up with our C-corporations? There is a defined list of allowable reimbursements for HSA plans and FSA, cafeteria plans, but I don't see an IRS specific list for 105 plans. Does the employer have some latitude as to what can be reimbursed?" - Publication 502 will give you a list of commonly deductible medical expenses.
- "I purchased my first short-term rental property last year. I've spent a year fixing it up, but it's still not out as a rental. Can I write off my expenses from 2022 for a business that isn't making revenue yet? If so, how? There's no LLC started yet, so this would be on my personal taxes for now." - Usually we look at if its available for rent, but the organizational costs may be deductible. You will have to wait until it is rentable/placed into service to get all the expenses deducted.
- "I share ownership of a single family rental property 50/50 with a relative. The other owner has not been involved. If I buy her out, step up in basis, or if she passes her ownership share to me by gift, then will I be responsible if I sell the property down the road for any depreciation that she may have claimed on her tax returns while she owned it?" - There will be depreciation recapture, 1250 or 1245, and some capital gains tax when the partner sells their interest if they realized profit. If gifted, the recipient has to worry about depreciation recap later on upon sale.
- "Me and my partner purchased, renovated, and set up a property in Houston for short-term rental. We have a 50/50 LLC.” “We've never partnered before. How do we separate the expenses and income? How do we file?" - All income and expenses are reported on one return, a multi member LLC is taxed as a partnership, each partner will get a K1 form detailing your portion - use that on your personal return.
- "I'm a 77-year-old newlywed." Congratulations. "My husband has a trust for his family. Do I need one for my family, or is a will sufficient?" - A will can be contested and waste time and money in probate court. A living trust is much more clear and uncontestable.
- "I wanted to know if I can write off any stock trading education through my LLC if I pay myself a W-2, have 401(k) deductions taken out, and put into a self-directed Solo 401(k) plan. I am the only employee. I want to start learning about covered calls and so forth." - maybe set up a partnership
- "When you pay your kids to work in your business, is this only allowed with a certain type of business structure, such as an LLC versus a partnership?” - No matter what structure you can always pay your kids to do actual work, but some structures are more efficient, like disregarded entities.
- Come out to our June Tax Events
Resources:
https://www.linkedin.com/in/kurt-bergfjord-cpa-08873053/
taxtuesday@andersonadvisors.com
Tax and Asset Protection Events in June
https://andersonadvisors.com/real-estate-asset-protection-workshop-training/
https://andersonadvisors.com/
http://aba.link/youtube
Anderson Business Advisors LinkedIn
https://www.linkedin.com/company/anderson-advisors/?originalSubdomain=fr
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
Wednesday May 31, 2023
Wednesday May 31, 2023
In this episode of Tax Tuesday, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, Esq., CFO of Anderson Business Advisors discuss various tax strategies for real estate, stocks, and nonprofits. Online we have Ander, Dutch, Sergei, Ross, Jared, Elliot, Troy, and all kinds of staff to help answer all your Tax Tuesday questions.
Toby and Jeff cover topics such as 1031 and 721 exchanges, the Section 121 Exclusion, employee stock options, and the tax implications of short-term rentals and Health Savings Accounts (HSAs). They also discuss best practices for reimbursing personal contributions to a business. Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
- "Section 721 and 1031 differences” - It has the same effect as 1031 but you don't pay tax on the sale, But you're not exchanging one property for another…it's a tax-free exchange, but it's a one-and-done.
- "Tax benefits of a foundation versus a nonprofit organization?” - The easiest way is - a nonprofit (public charity) DOES stuff, a foundation funds stuff…
- "I have two houses I'm selling this year and or at the same time, both were residences for two years at the last five years consecutive. I have just lived in the latest house for the last two years and I've been preparing both to sell. Will I have a problem claiming both of them as residences two of the last five years and I'm selling them at the same time.” - So of the last 60 months, 24 of them you had to have lived in it as your primary residence. That met, then you can exclude, if you're single, $250,000 of capital gain. If you're married, you could exclude up to $500,000 of capital gain. DO NOT SELL AT THE SAME TIME.
- “How are stock options taxed?” - Tax treatment varies depending on the type of stock option (ISO, NSO, RSU), time held, and exercise/sale timing.
- "LLC taxed as S-Corp with brokerage account….anything similar to trader status?” - I have not seen anything that says any entity can make a mark to market section 475 election. If you're making a mark-to-market election because you're losing so much money in the market, get out of the market and go do something else.
- "Does California's 571L form business property tax apply to short-term rentals? - Yes, as short-term rentals are considered active trader businesses and subject to tax.
- “Who can qualify for an HSA?” - Eligible individuals must have a high deductible health plan (HDHP) and not be covered by another non-HDHP plan. Can I open an additional HSA with my LLC business? - No, you can only have one HSA per individual, but your LLC can contribute to your existing HSA.
- "Anderson made me a C-Corp, I put money in from my personal account to pay expenses. I have to take out the initial $7K … How do I legally and ‘tax-friendly’ take the $7,000 back that I need for my personal reimbursement? - If the initial $7,000 was a loan, you can withdraw it tax-free as repayment; if a capital contribution, the process is different.
- Send us your questions, and we do about 50 events a year - check out the event schedule listed in the notes.
Resources:
https://infinityinvesting.com/
taxtuesday@andersonadvisors.com
Tax and Asset Protection Events
https://andersonadvisors.com/real-estate-asset-protection-workshop-training/
https://andersonadvisors.com/
https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
Thursday May 25, 2023
Thursday May 25, 2023
Are you struggling to manage your money like the rich? If so, you're not alone! In this episode, we’ll hear from Tom Ferry and Toby Mathis, Esq., to help you learn the proper way to manage your money for success. From investing basics to budgeting for the long term, these tips will help you get your financial life under control.
Tom Ferry is the #1 ranked Real Estate Educator by Swanepoel Power 200 and the best-selling author of "Life! By Design" and "Mindset, Model and Marketing!"
Toby Mathis, Esq. is a partner here at Anderson Business Advisors with years of knowledge and has helped countless clients navigate the complex world of taxation and asset protection allowing them to secure their financial goals. We will teach you how to budget, invest, and live a prosperous life with a well-thought-out plan. This video is a must-watch if you want to learn how to manage your money and reach your financial goals properly!
Highlights/Topics:
0:00 - Intro
2:33 - Change Your Mindset
10:20 - Tom's Discovery About the Wealthy
14:18 - 3 Types of Money Managers
20:36 - What Are You Doing with Your Money?
24:48 - Tom's Wealthiest Mentors
34:28 - Investing in Real Estate and Dividends
43:53 - How Do You Make Money?
53:18 - Create Goals
58:38 - Outro
Resources:
https://www.instagram.com/tomferry/
Learn How to Manage Your Money with Tom Ferry
https://aba.link/TFYTTAP
Free Strategy Session with Tom Ferry
https://aba.link/TFYTSS
https://www.amazon.com/Mindset-Psychology-Carol-S-Dweck/dp/0345472322
https://profiles.stanford.edu/andrew-huberman
https://andersonadvisors.com/
Anderson Business Advisors LinkedIn
https://www.linkedin.com/company/anderson-advisors/?originalSubdomain=fr
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
Tuesday May 23, 2023
Tuesday May 23, 2023
In this episode of Anderson Business Advisors, Toby Mathis, Esq, speaks with Sherri and Frank Candelario, real estate investors who have turned the shady addiction recovery housing industry on its ear. Sherri and Frank became involved in the industry after their adopted daughter Kate developed substance abuse issues.
Frank and Sherri started Kate’s House Foundation, and have trained 1000s of people to duplicate the Kate’s House Model of Level II Medically Assisted Treatment homes in great neighborhoods like theirs in the Seattle area.
We’ve discussed opportunities like this in other episodes - this is a niche segment of real estate investing that can be both profitable and an incredible way to help individuals who are struggling get back on their feet.
Highlights/Topics:
- An adopted daughter from Russia with substance abuse issues
- The shady underbelly of the addiction recovery industry
- Bucking the 50-year system of shared housing
- Discovering value in the people society has discarded
- Government grants funneled to the Candelarias for their excellent housing
- Becoming Federal contractors
- Medication and shared housing
- Preventing young adults from going to prison
- Being able to buy real estate after you obtain a government contract
- Focusing on recovery housing and drug courts
- Amazing non-profit donations to the Kate’s House Foundation
- A goal of housing in every state in the country
- February 2024 bus tour of their homes
- Reach out to Sherri and Frank and take their course to learn how to do what they do
Resources:
https://frankandsherri.com/
https://kateshousefoundation.org/our-story/
https://andersonadvisors.com/
Anderson Business Advisors LinkedIn
https://www.linkedin.com/company/anderson-advisors/?originalSubdomain=fr
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
Thursday May 18, 2023
Thursday May 18, 2023
In this episode, Toby Mathis, Esq, speaks with Carl Zoellner, Esq. Managing Attorney at Anderson, to debunk the myth of quitting your job as a means to achieving financial success. They discuss the importance of maintaining a consistent lifestyle and leveraging a good-paying job in order to invest in passive income. The conversation also touches on the potential dangers of following ‘guru’ advice and how to find your passion while focusing on its economic benefits.
Carl and Toby emphasize the significance of channeling your energy into something that can eventually replace your current income while still enjoying the perks of a stable job. They also discuss the concept of tax breaks and how they can play a crucial role in your financial planning journey. Tune in for an insightful conversation on leveraging your employment for long-term financial stability and building a solid financial foundation without quitting your job.
Highlights/Topics:
- Debunking guru advice to quit jobs for a better lifestyle
- Importance of maintaining a consistent, comfortable lifestyle
- Dangers of following unproven investment advice
- Leveraging a good paying job to invest in passive income
- Understanding hype versus logic in investing
- Emphasizing the role of passion in financial success
- Importance of living below one's means
- Transitioning from active to passive income sources
- Creative financing deals in real estate
- Staying the course with investment fundamentals
- Balancing passion, skill, and economic benefit
- Importance of patience in investing
Resources:
https://www.youtube.com/@coffeewithcarlaba
https://andersonadvisors.com/
Anderson Business Advisors LinkedIn
https://www.linkedin.com/company/anderson-advisors/?originalSubdomain=fr
https://www.youtube.com/@TobyMathis
https://www.tiktok.com/@tobymathisesq
https://andersonadvisors.com/