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

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

Coronavirus Tax Relief

Families First Act

Family and Medical Leave Act (FMLA)

SECURE Act

Individual Retirement Arrangements (IRAs) 

Traditional and Roth IRAs

501(c)(3)

Form 1065

Form 1099

Form 8832

Form 1120

Real Estate Professional Requirements

Self-Employment Tax

Wills and Trusts

Freddie Mac

Fannie Mae

Capital Gains Exclusion/Section 121

Section 338(h)(10) Election

Schedule C

Cost of Goods Sold (COGS) 

How to Buy a Business

Business Structures

UBIT

UDFI

Section 179 Tax Depreciation

Depreciation Recapture

Bonus Depreciation

1031 Exchange

Opportunity Zones

Cost Segregation Tax Breaks!

Form 1040

Form 1040-NR

Rollovers as Business Startups (ROBS)

Form 2553

Employer Identification Number (EIN)

Affordable Care Act

CoreVest

Toby Mathis

Anderson Advisors

Anderson Advisors Events

Anderson Advisors Tax and Asset Protection Event

Tax-Wise Workshop

Anderson Advisors on YouTube

Anderson Advisors on Facebook

Anderson Advisors Podcast