Anderson Business Advisors Podcast

Tax Tuesdays with Toby Mathis 11-26-2019


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Did you gain too much on Thanksgiving? Spend too much of your income on Black Friday? It happens. Make better decisions when it comes to your taxes by listening to Toby Mathis and Jeff Webb of Anderson Advisors. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.

Highlights/Topics: 

  • Can you ever do a 1031 exchange for tax lien certificates? No, unless you have a right to own or take title of property; different states have different statutes
  • Are free-and-clear properties taxed heavier? Doesn’t matter if you have a loan against a property, but you don’t have a mortgage interest deduction
  • What are the tax consequences of borrowing money from a private lender and agreeing to pay a fixed percentage over time? You get money to do your development; paying back percentage of interest or profits reduces gain of taxes that you’ll pay 
  • What itemized deductions will be allowed for 2019 returns? Mostly the same as 2018; refer to Schedule A for medical expenses, mortgage interest, and charitable giving
  • What’s the best vehicle to use for retirement without paying taxes on it? Best and safest methods include annuities, bonds, stocks, and real estate 
  • 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:

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

    Roth IRAs

    Types of Trusts

    1031 Exchange

    Bonus Depreciation

    401(k)

    Solo 401(k)

    Qualified Retirement Plan (QRP)

    Colorado Homestead Exemption

    Garn-St. Germain Act

    Opportunity Zones FAQ

    Opportunity Zone Heat Map

    Depreciation Recapture

    Capital Gains Exclusion/Section 121

    Tax Cuts and Jobs Act (TCJA)

    Cost Segregation Tax Breaks!

    Form 3115

    Section 179

    Form 568

    MileIQ

    Schedule A

    Schedule E

    Ed McMahon Settles Suit Over Mold for $7.2 Million

    501(c)(3)

    Section 1244 Stock Loss

    Annuities vs. Bonds: What's the Difference?

    Toby Mathis

    Anderson Advisors

    Anderson Advisors Tax and Asset Protection Event

    Tax-Wise Workshop

    Anderson Advisors on YouTube

    Anderson Advisors on Facebook

    Anderson Advisors Podcast

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