Anderson Business Advisors Podcast

Tax Tuesdays with Toby Mathis 10-01-2019


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Be in the know before filing your tax forms to avoid big surprises and losses. For fun and educational answers to your tax questions, Toby Mathis and Jeff Webb of Anderson Advisors are willing, able, and ready to help. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.

Highlights/Topics: 

  • How can I take full advantage of excess depreciation on passive real estate investments? Cost segregation, MACRS, and bonus depreciation through TCJA  
  • What is the best way to set up an Airbnb business that is a solely-owned, single-family house? If average guest’s stay is 7 days or less, pay self-employment tax and take depreciation   
  • If I sell my personal residence, what’s the best way to use the funds from the sale for a residential assisted living (RAL) startup? Create LLC, obtain inside/outside liability insurance, borrow money, and deduct costs  
  • I traveled via RV across and outside the country and needed WiFi to conduct business. Can any part of the travel expense be deducted? If travel is more than 50% for leisure, you can’t write off business expenses; otherwise, write off RV, WiFi, mileage, other costs 
  • 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

    Tax Cuts and Jobs Act (TCJA)

    Cost Segregation Tax Breaks!

    Modified Accelerated Cost Recovery System (MACRS)

    Bonus Depreciation

    Real Estate Professional Requirements

    Passive Activity Losses - Section 469

    Unrelated Business Income Tax (UBIT)

    Roth IRAs

    501(c)(3)

    K-1

    Workers' Compensation

    Schedule A

    Health Savings Account (HSA)

    Airbnb

    Stepped-up Basis

    Types of Trusts

    Self-Employment Tax

    Capital Gains Exclusion/Section 121

    Depreciation Recapture

    Schedule C

    Schedule E

    Real Estate Investment Trust (REIT)

    1031 Exchange

    Kiddie Tax

    Form 1099

    Home Office Deduction

    Opportunity Zones FAQ

    Opportunity Zone Heat Map

    MileIQ

    Section 280A Deduction

    Save A Vet With A Pet – 1 Veteran Foundation

    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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