Anderson Business Advisors Podcast

Tax Tuesdays with Toby Mathis 09-17-2019


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Celebrate the 100th episode of Tax Tuesday, where Toby Mathis and Jeff Webb of Anderson Advisors bring tax knowledge to the masses. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.

Highlights/Topics: 

  • Is there a preferred tax structure for a foreign investor compared to a U.S. investor? United States taxes worldwide income, if you’re a U.S. resident and there’s a treaty between the United States and other country  
  • I’m an independent contractor through a company that sends me a 1099. Can I be self-employed through LLC I created, or do I need to be an employee and have taxes taken out? You’re an employee of your S Corp; you can’t get a 1099 as a contractor    
  • Do you have to file a tax return, if you have an LLC owned by a solo 401(k)? No, unless it’s a partnership with more than $250,000 
  • If I own a timeshare (not as an investment), and I go there one week a year, are there tax deductions I can take? Very few are deductible and difficult to get 
  • Do IRS Section 179 Depreciation Rules apply equally to C and S corps? Yes 
  • I am remodeling an apartment building. Is cost segregation an option? What are the reporting requirements? Report depreciation of cost segregation of recent remodel 
  • What are the advantages of qualifying as a real estate professional? Real estate losses are no longer passive, but active to offset your personal 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:

    Pre-order Book Deal: Tax-Wise Business Ownership

    Form 1099

    Section 179 Deduction

    Cost Segregation Tax Breaks!

    Real Estate Professional Requirements

    Self-Employment Tax

    What You Should Know About The New 20% Pass-Through Tax Deduction

    1031 Exchange

    I10 Work Visa

    Individual Taxpayer Identification Number (ITIN)

    Roth IRAs

    K-1

    Home Office Deduction

    Form 8829

    Depreciation Recapture

    Tax Cuts and Jobs Act (TCJA)

    Opportunity Zones FAQ

    Opportunity Zone Heat Map

    Form 3115

    Robert Kiyosaki

    Modified Accelerated Cost Recovery System (MACRS)

    Bonus Depreciation

    Charitable Contributions

    Toby Mathis

    Anderson Advisors

    Anderson Advisors Tax and Asset Protection Event

    Tax-Wise Workshop

    Tax-Wise 2019 3-in-1 Offer/2fer Tuesday Bulletproof

    Anderson Advisors on YouTube

    Anderson Advisors on Facebook

    Anderson Advisors Podcast

    ...more
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