Tax Tuesdays w Toby Mathis - Oct 15, 2019 EP 102 (SPECIAL MAUI EDITION)

Join us for this Special Edition of Tax Tuesday recorded in Maui HA with Toby Mathis and special guest Anderson Business Advisors partner attorney Michael Bowman. *~ Claim Your FREE 45 min Strategy Session NOW! 👉 https://aba.link/4fi

Featured questions answered in this episode, #102, include:

09:53.03 Q: I have several LLCs taxed as partnerships. I buy foreclosures. Recently, I acquired a property and decided to sell, without improvements, for about the price I foreclosed (10% gain). Can I still maintain my passive status in that LLC for this year even though I "flipped/resold" this one property in 6 months?

20:56.04 Q: I am closing on the sale of a property purchased with my LLC of my Solo 401K. Is there a tax benefit by paying a JV partner from the LLC bank account versus directly from escrow? Meaning, does paying out of escrow reduce profit that would be subject to tax?

24:33.06 Q: Can I take advantage of business deductions (for travel, education, conferences) if I do not directly own rental properties and instead invest in real estate as a limited partner in syndications and funds that generate K-1s?

39:27.00 Q: I have created a management C-Corp that manages all my different LLC and properties. I am not taking any salary out of this corporation at this time. This C-Corp has an employee welfare plan that pays my out of pocket medical expenses. My question is, from this plan, can I reimburse myself the employee contribution of my W2 job health care plan?

46:58.05 Q: If I purchase a property within an Opportunity Zone and start a business based from that building that passes the Opportunity Zone tests, do I still need to improve the property as well?

57:52.00 Q: I plan on having my Wyoming LLC become 100% shareholder of my two C-Corps (one C-corp for flipping homes and one C-corp for flipping raw land). Will my LLC have to file a tax return even if I zero out the revenue with expenses and salary to myself?

01:06:04.01 Q: If a person uses Cost Segregation on a rental home, isn't the depreciation recaptured upon sale of the home? Can a 1031 Exchange be used?

01:10:04.08 Q: What’s the best entity structure for Airbnb, HomeAway, and VRBO? My plan is to sign long term leases (12 months) and rent them out on these platforms.

Small business taxes and income tax Questions and Answers! Toby Mathis answers your questions during Tax Tuesdays a bi-weekly webinar event. 👉https://AndersonAdvisors.com/tax-tues...

Get YOUR most pressing small business and tax questions answered by one of the nation's top tax attorneys LIVE!

Whether your a small business owner, real estate business owner, or you have a corporation, the new tax laws that were passed in 2017 will have some impact on what tax deductions you can take.

Don't be caught off guard or miss out on important tax-saving strategies that your business is entitled to.

**** SPECIAL OFFERS MENTIONED ON WEBINAR ****

🏡 Tax Tuesday 2fer Bulletproof Investor Offer 🏡
👉 Learn More Here 👉 http://aba.link/2fer-yt

🚀 Ready To Take Your Business To The Next Level & Get A Detailed Risk Assessment To Help Protect Your Personal and Business Assets From Lawsuits?


***** Find about our Tax & Asset Protection Events at
👉 https://aba.link/51gw

👉👉SUBSCRIBE to my channel
   / @tobymathis  

🔊 Be The First To Know, First To Grow LISTEN to Anderson Business Advisors PODCAST
👉 http://AndersonAdvisors.com/podcast

Check out https://AndersonAdvisors.com for financial strategies and details on upcoming workshops.


800.706.4741
https://AndersonAdvisors.com
Twitter: @TaxWiseToby
Blog: https://TobyMathis.com








The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.