Shows
Anderson Business Advisors PodcastCan You Do A Cost Segregation Study On Property In A Qualified Opportunity Zone Fund?In this episode, Anderson Advisors Barley Bowler, CPA, and Eliot Thomas, Esq., tackle listener questions on critical tax strategies. They cover the differences between Section 179 expense deductions and bonus depreciation, including how to combine them effectively and avoid creating excessive losses. Barley and Eliot discuss the timing of equipment purchases for tax planning purposes and explain the complexities of equipment leasing investments, emphasizing the importance of material participation tests. They address the mark-to-market election for active traders and explain why Anderson doesn't recommend this strategy due to audit risks. The attorneys clarify that qualified charitable distributions can only be...
2025-11-2557 minAnderson Business Advisors PodcastS-Corp vs. Sole Proprietor When Should You Switch to an S-CorpIn this Tax Tuesday episode, Anderson attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., tackle listener questions on choosing the right business structure and maximizing tax savings. They explore when to switch from sole proprietor to S-corporation status, explaining the sweet spot for making the transition and the significant tax benefits available through S-corps versus Schedule C filing. Amanda and Eliot dive deep into house flipping strategies using C-corporations to avoid dealer status and self-employment tax while maximizing deductions through accountable plans and bonus depreciation. They clarify the complexities of 1031 exchanges, especially when properties are held in partnerships, and...
2025-11-111h 13Anderson Business Advisors PodcastThe #1 Killer in America: How to Prevent Cardiovascular DiseaseIn this special episode, tax attorney Toby Mathis, Esq., shifts focus from financial health to physical health by welcoming William Donovan from the Pritikin Longevity Center to discuss America's number one killer: cardiovascular disease. William shares his personal story of reversing heart disease and eliminating the need for bypass surgery through lifestyle changes at Pritikin, explaining how their medically supervised program has helped thousands achieve remarkable health transformations. The conversation covers the alarming statistics showing that 50% of heart attack victims had normal cholesterol levels, the critical role of endothelial function and arterial plaque, and why traditional risk factors don't...
2025-11-0431 minAnderson Business Advisors PodcastHow to File Taxes as a Single-Member LLCIn this episode of Tax Tuesday, Anderson advisors Barley Bowler, CPA, and Eliot Thomas, Esq., address listener questions on tax topics ranging from basic bookkeeping to advanced ESOP strategies. They cover essential bookkeeping practices for first-time rental property owners and the tax implications of transferring a fully depreciated truck from an S corporation to personal use. Barley and Eliot explain how to catch up on missed depreciation from prior years, the tax benefits of inheriting property versus receiving it as a gift, and how independent contractors should handle federal income and employment taxes. Other topics include choosing the best...
2025-10-281h 05Anderson Business Advisors PodcastGuns and Estate Planning What Every Family Needs to KnowIn this episode, tax attorney Toby Mathis, Esq., welcomes Tom Chittum, former ATF Deputy Director and firearms law expert, to discuss the critical intersection of firearms ownership and estate planning. They explore what families need to know when inheriting firearms, from identifying contraband weapons to navigating complex federal regulations. Tom explains the biggest mistakes executors make, including informal transfers and failing to determine whether firearms, such as machine guns, are properly registered under the National Firearms Act of 1934. The conversation covers the distinction between regular firearms and NFA weapons (machine guns, silencers, short-barreled shotguns), the severe criminal penalties for...
2025-10-2131 minAnderson Business Advisors PodcastReal Estate’s Biggest Tax Loophole Cost Seg + 1245 Exchange ExplainedIn this episode, tax attorney Toby Mathis sits down with Chris Streit, CEO of CSA Partners, to dive deep into cost segregation studies and how they can dramatically improve cash flow for real estate investors. They explore the biggest mistakes investors make with depreciation, explaining how the IRS treats properties as single assets when they're actually composed of multiple components that depreciate at different rates. Chris breaks down the mechanics of cost segregation studies, revealing how even a $200,000 rental property can generate $40,000 in year-one deductions instead of just $5,000-$6,000 annually. The conversation covers the impact of the One Big...
2025-10-1637 minAnderson Business Advisors PodcastThe Big Beautiful Bill Benefits Every Small Business Should KnowIn this episode of Tax Tuesday, Anderson attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., tackle a diverse range of tax questions from listeners. They discuss oil and gas investments used to offset Roth conversion income and explain excess business loss limitations. Amanda and Eliot clarify filing requirements for C-corporations with losses, emphasizing that corporations must file regardless of activity. The team explores multiple scenarios involving converting short-term rentals to primary residences or vacation properties, covering Section 121 exclusions, depreciation recapture, and the strategic use of S-corporations to step up basis. They present creative alternatives to 529 plans, including paying children...
2025-10-141h 15Anderson Business Advisors PodcastA Beginner’s Guide to Cost Segregation StudiesIn this episode of Tax Tuesday, Anderson advisors Barley Bowler, CPA, and Eliot Thomas, Esq., tackle listener questions covering essential tax strategies for real estate investors and business owners. They explain how LLCs holding investments should be taxed, breaking down the differences between disregarded entities, partnerships, and corporations. They walk through complex scenarios including calculating capital gains on homes with mixed personal and rental use, including non-conforming use periods and depreciation recapture. Barley and Eliot discuss strategic tax planning for cryptocurrency gains, maintaining disability benefits while generating passive income, and the mechanics of cost segregation studies for accelerating depreciation...
2025-10-0158 minAnderson Business Advisors PodcastPadSplit & Co-Living vs. Short-Term Rentals Do the Tax Breaks Match
ode of Tax Tuesday, Anderson attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., tackle a diverse range of tax questions from viewers. They explore the differences between PadSplit/co-living models and short-term rentals, explaining why PadSplit typically doesn't qualify for the same tax advantages as short-term rental activities. The duo covers entity formation costs and how they're treated for disregarded LLCs, the importance of proper documentation for independent contractor payments including W-9 forms and 1099 requirements, and cryptocurrency taxation for long-term holders. They also discuss offsetting bond interest with stock losses, wash sale rules for options trading, 1031 exchange...
2025-09-171h 05Anderson Business Advisors PodcastThe Best Structure for Real Estate C Corp vs. LLC ExplainedIn this Tax Tuesday episode, Anderson Advisors’ Barley Bowler, CPA, and Eliot Thomas, Esq., tackle ten listener questions covering essential tax strategies for business owners and real estate investors. They break down the enhanced contribution limits for solo 401(k)s, including the new employer Roth contributions and age-based catch-up provisions. The attorneys explain proper loan structures between shareholders and corporations, emphasizing documentation requirements and interest rate compliance. They cover installment payment reporting for private money loans, clarify the Augusta Rule (280A) for tax-free rental income from home meetings, and distinguish between deductible business expenses versus personal costs. Investment structuring st...
2025-09-031h 09Anderson Business Advisors PodcastIRS Sections 168 & 179 Made Simple How to Boost Depreciation Deductions
In this Tax Tuesday episode, Anderson tax attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., tackle a diverse range of tax questions covering rental property strategies, depreciation rules, and business structure optimization. They explain the tax implications of renting property to family members below market rates, including income reporting requirements and limited deduction capabilities. The attorneys discuss gifting rental properties to children and the associated gift tax filing requirements, while exploring sophisticated property management company structures for generating earned income and maximizing retirement contributions. They provide detailed guidance on utilizing IRS sections 168 and 179 for depreciation and bonus...
2025-08-191h 27Anderson Business Advisors PodcastCapital Losses Explained: When to Write Off a Losing InvestmentToday on Tax Tuesday, Anderson Advisors Barley Bowler, CPA, and Eliot Thomas, Esq., focus on capital gains, cryptocurrency, stock trading structures, and real estate strategies. They explain how capital losses are deducted and the $3,000 annual limit that hasn't been adjusted for inflation since the 1950s. You’ll hear about Bitcoin's tax treatment as a personal asset with favorable capital gains rates but note the lack of wash sale rule protections. They demonstrate how a trading partnership with a C corporation can provide significant tax advantages through accountable plan reimbursements. The episode extensively covers real estate topics including the distinction be...
2025-08-0559 minAnderson Business Advisors PodcastOne Big Beautiful Bill Act Full Breakdown
In this special Tax Tuesday episode, Anderson attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., break down the major provisions of the "One Big Beautiful Bill" - nearly 1,000 pages of new tax legislation. They cover significant changes to child tax credits (increased to $2,200), expanded 529 plan qualifications now covering trade schools and licensing exams, and modifications to personal casualty loss deductions. The attorneys explain the updated salt (state and local tax) limitations increasing from $10,000 to $40,000, new charitable deduction rules for both itemizers and non-itemizers, and the elimination of clean energy tax credits after 2025. They also discuss the extension of lifetime...
2025-07-2259 minAnderson Business Advisors PodcastThis ‘Boring’ Real Estate Asset Is Crushing It in 2025?
In this episode, Toby Mathis, Esq., of Anderson Business Advisors, sits down with Ryan Gibson from Spartan Investment Group to discuss the current housing market and the unique opportunities in self-storage investing. They explore how the housing market has changed with low transaction volumes due to homeowners holding onto low-interest-rate mortgages, creating opportunities in alternative real estate sectors.
Ryan explains how self-storage offers advantages over traditional rental properties, including no evictions, automated operations, and steady cash flow. The discussion covers Spartan's approach to acquiring mom-and-pop storage facilities and professionalizing their operations, the different investment strategies...
2025-07-1523 minAnderson Business Advisors PodcastCapital Gains Rules When You Sell a Home and Buy AnotherIn this Tax Tuesday episode, Barley Bowler, CPA, and Eliot Thomas, Esq., tackle a diverse range of tax questions covering business structures, real estate investments, and tax optimization strategies. They demonstrate significant tax savings by comparing Schedule C sole proprietorship versus S Corporation structures, showing how proper business formation can save approximately $6,000 annually on just $50,000 of income. The hosts address healthcare deductions for S Corporation owners, explain the complexities of the self-employed limited partner exception, and dive deep into capital gains calculations and 1031 exchanges. They also cover tax lien investments, charitable boat donations, and probate avoidance strategies. With practical...
2025-07-081h 02Anderson Business Advisors PodcastIs Now a Good Time to Buy Rental Property?
In this episode, Anderson Business Advisors host Clint Coons, Esq., sits down with long-time client and real estate investor Tarl Yarber to discuss whether now is the right time to invest in real estate. Tarl, a "recovering house flipper" who has completed over 650 flips, shares his journey from wholesaling in 2005 to becoming a full-time investor focused on the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat). They explore the current market disruption, why people should be buying when others are running away, the importance of understanding construction and value-add opportunities, and how to properly evaluate cap rates beyond...
2025-06-2643 minAnderson Business Advisors Podcast1031 Exchange Rules When Buying in a Different StateIn this comprehensive Tax Tuesday episode, Anderson attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., tackle complex tax strategies focusing heavily on 1031 exchanges and business deductions. They explain why fix-and-flip properties cannot use 1031 exchanges since they're considered inventory rather than investments, and suggest using C-corps or S-corps for tax savings instead. The attorneys dive deep into 1031 exchange mechanics, covering depreciation carryover basis, cost segregation complications, and state clawback rules in California, Oregon, Montana, and Massachusetts. In other topics, they discuss the heavy SUV deduction for vehicles over 6,000 pounds, explaining how to maximize depreciation through Section 179, bonus depreciation, and MACRS...
2025-06-241h 10Anderson Business Advisors PodcastWhy You Should Trade Stocks Through an LLC
In this Tax Tuesday episode, Anderson Business Advisors’ Barley Bowler and Eliot Thomas, Esq., tackle complex listener questions covering bonus depreciation regulations, short-term to long-term rental property transitions, and the intricate tax ordering rules for combining stock losses with real estate gains. They explore nonprofit structures for foster care services, explain 1031 exchange debt requirements for orthodontic practice sales, and provide guidance on entity selection between partnerships and S-corporations for different business types. You’ll hear how and when to handle Ponzi scheme theft loss deductions, corporate trading structures for stock income reduction, and the critical tax implications of providing comp...
2025-06-1050 minAnderson Business Advisors PodcastHow to Legally Pay Your Kids Through Your BusinessIn this Tax Tuesday episode, Anderson attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., explore the limitations of renting home office space to yourself as a sole proprietor and explain superior alternatives through S and C corporations that unlock better deductions and reimbursement opportunities. The attorneys provide detailed guidance on properly paying children through family businesses to maximize tax benefits while avoiding employment taxes, and discuss the complexities of transferring real estate to children through gift strategies. They dive deep into syndication investments, explaining passive income treatment, cost segregation benefits, and how real estate professional status can transform passive...
2025-05-281h 20Anderson Business Advisors PodcastCan You Boost Depreciation After a 1031 Exchange?In this episode of Tax Tuesday, Eliot Thomas, Esq. is joined by Anderson CPA Barley Bowler. They explain how transfer-on-death titles still provide beneficiaries with stepped-up basis advantages and clarify that short-term rentals don't qualify for real estate professional status. You’ll hear proper entity structures for rental properties, recommending against holding appreciating real estate in C corporations. They thoroughly explain the 280A "Augusta Rule" that allows tax-free rental income from personal residences to your business for up to 14 days annually. With input from bookkeeping expert Troy Butler, they recommend QuickBooks Online for tracking rental property finances. Additionally, they co...
2025-05-131h 06Anderson Business Advisors PodcastThe Top Rental Markets to Invest in NowClint Coons, Esq., interviews Kathy Fettke, founder of Real Wealth Network and a seasoned real estate expert with over 20 years of experience. They discuss current market conditions, with Kathy explaining how real estate's slow-moving nature provides stability compared to the volatile stock market. She shares that recent decreases in mortgage rates have already increased pending sales and mortgage applications. Kathy reveals her top investment markets, emphasizing the Southeast (particularly Texas and Florida) for growth and appreciation, while the Midwest (parts of Ohio and Indianapolis) offers better cash flow. She explains the importance of property type selection, market dynamics, and...
2025-05-0236 minAnderson Business Advisors PodcastHow to Sell Stocks Tax-Efficiently to Buy Rental Property
In this episode, Anderson attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., address several listener questions on a variety of tax topics. They cover the tax implications of selling stocks to purchase rental properties, explaining capital gains strategies and depreciation options. The duo discusses using LLCs and management corporations for rental properties, including how property management fees can generate tax-free income. They explore inheritance tax considerations for 401(k)s, the benefits of short-term rentals for generating tax losses, and the implications of moving back into a rental property. Other topics include setting reasonable salaries for S-Corporation owners...
2025-04-291h 10Anderson Business Advisors PodcastHow to Stop Employee Theft & Embezzlement in Your BusinessIn this episode, Toby Mathis, Esq., of Anderson Business Advisors, welcomes David Pelligrinelli, a professional asset recovery expert from ActiveIntel. They dive deep into the alarming reality of employee theft and embezzlement in businesses of all sizes. David explains the "fraud triangle" concept—opportunity, pressure, and justification—that enables employee theft, sharing real-world examples of trusted employees who stole hundreds of thousands of dollars from their employers. They discuss essential prevention strategies like having owners open all financial mail, requiring employees to take vacations so others can review their work, and implementing proper checks and balances. The conversation reveals soph...
2025-04-1729 minAnderson Business Advisors PodcastThe Best Entity for Real Estate Syndications and Maximum Tax BenefitsTax season is in full swing, and in this Tax Tuesday episode, Anderson Advisors attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., tackle numerous listener tax questions with practical advice. They discuss the Section 121 exclusion for primary residences, explaining how married couples filing separately can each qualify for the $250,000 capital gains exclusion. They outline strategies for converting personal residences to rental properties using S-corporations and installment sales to maximize tax benefits. Amanda and Eliot clarify 401(k) withdrawal rules, explaining when penalties apply and options like the Rule of 55 and hardship withdrawals. You’ll hear recommendations on optimal entity structures fo...
2025-04-151h 12Anderson Business Advisors PodcastInherited IRAs Can You Convert to a Roth Tax-FreeToday, Anderson Advisors attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., discuss topics including navigating inherited IRAs and potential Roth conversions to understanding crucial deadlines for spousal and non-spousal inheritances. The questions explore filing for trading LLCs with expenses but no income, leveraging C-Corps for medical cost reimbursements, and addressing real estate tax considerations including depreciation recapture. Key insights include combining 1031 exchanges with 121 exclusions when converting investment properties to primary residences, maximizing education and travel deductions in real estate transactions, and utilizing strategic business entities, defined benefit plans, and 401(k)s to shelter active income.
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2025-03-181h 04Anderson Business Advisors PodcastHow to Use 401(k) Funds to Start a Nonprofit (Avoiding 10% Penalty)Today, Anderson Advisors attorneys Barley Bowler, CPA, and Eliot Thomas, Esq. discuss topics including how 401(k) funds can be borrowed up to $50,000 without tax penalties while confirming that backdoor Roth IRA contributions made in 2024 but converted in 2025 still allow for additional 2025 contributions. Eliot and Barley discuss why S-corporations cannot deduct wellness expenses through accountable plans unless medically prescribed, and confirm the 20% Qualified Business Income deduction applies across multiple businesses. For entity structures, they recommended against holding appreciating real estate in corporations, favoring disregarded LLCs for asset protection. Regarding trading partnerships with C-corporations, these need written contracts for guaranteed payments...
2025-03-0449 minAnderson Business Advisors PodcastPredicting 2025 Real Estate Trends
Real estate visionary Neal Bawa, CEO of Grocapitus and MultifamilyU, returns to the podcast. Neal always presents a compelling data-driven forecast that should capture every investor's attention. Despite current market uncertainties, Bawa reveals a significant 5-million-unit housing shortage alongside plummeting inflation rates, positioning the US as the strongest performer among developed economies. Most notably, he predicts a dramatic surge in both single and multi-family rent growth during 2026-27, driven by high interest rates creating supply gaps. With homeownership projected to decrease to 60% within a decade, the rental market is poised for unprecedented strength. This perfect storm of...
2025-02-2536 minAnderson Business Advisors PodcastBonus Depreciation in 2025: Still Available? Plus, How It Compares to Cost Segregation
We have now hit 237 episodes of Tax Tuesday! Today, Anderson Advisors attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., discuss topics including depreciation strategies, with detailed explanations of how bonus depreciation differs from cost segregation analysis. The conversation also covers real estate professional status requirements, home office deductions, and the strategic use of management C-corporations to maximize tax benefits. Other key topics included the limitations of 1031 exchanges for partnership interests, tax strategies for international property purchases, meal expense deductions under current tax law, and the benefits of a stepped-up basis for inherited properties. You’ll hear practical st...
2025-02-181h 13Anderson Business Advisors PodcastThe #1 Real Estate Strategy for 2025In this episode, Toby Mathis, Esq., of Anderson Business Advisors, chats with Atticus LeBlanc, CEO of PadSplit. Toby and Atticus discuss the innovative approach PadSplit is taking to address homelessness and provide affordable housing. They dive into troubling statistics about homelessness in 2024 and how rising home prices and interest rates are impacting the housing market. PadSplit’s model—offering multi-room rentals—provides a solution for both underserved communities and real estate investors, creating a two-sided marketplace. The conversation covers the operational benefits for landlords, the low turnover rates, and the impact PadSplit has on helping residents transition out of homele...
2025-02-0632 minAnderson Business Advisors PodcastHow to Move a Rental Property to a Trust & S-Corp for Asset ProtectionWelcome to Tax Tuesday. Anderson Advisors attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., tackle various tax-related questions. Topics include retroactively claiming real estate deductions and depreciation, handling health insurance premiums for an S-corp, understanding the rules around setting up a trading account under an S-corp, and how to qualify for Real Estate Professional (REP) status while working a W2 job. The attorneys also discuss deadlines for S-election, converting properties for tax purposes, alternative methods for substantiating business expenses, and more. Tune in for valuable insights on managing your tax strategies effectively.
Send your tax questions to...
2025-02-041h 07Anderson Business Advisors PodcastThe Real Estate Investing Strategy That is Taking Off
Today Clint Coons, Esq., sits down with Winston Templet, a seasoned real estate investor, developer, and contractor with over 20 years of experience. Based in Tennessee, Winston shares insights from his extensive career, including his early days as a reluctant real estate investor, where he began with trailer parks. They dive into the state of real estate investing in 2025, with Winston emphasizing the shift toward building rather than buying. Winston explains his approach to finding profitable properties, partnering with land sellers, and navigating complex regulations, zoning, and permits. He also offers valuable advice on selecting general contractors, financing...
2025-01-3042 minAnderson Business Advisors PodcastHow to Reduce Capital Gains Taxes When Selling a Long-Held Rental PropertyWelcome to the first Tax Tuesday episode of 2025. Anderson Advisors attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., discuss topics including whether hours spent on personal and rental properties count towards real estate professional status, the tax implications of using an LLC for a brokerage account that generates short-term capital gains, and how to handle HOA dues when calculating the cost basis of a condominium. They also discuss the consequences of failing to issue a 1099 to contractors, how to navigate a tricky 1031 exchange, and strategies to minimize capital gains taxes when selling a rental property. You’ll hear about wa...
2025-01-211h 04Anderson Business Advisors PodcastConsolidating LLCs Under a Wyoming Holding Company: Is It the Right Move?It’s our last Tax Tuesday episode of 2024! In this episode, Anderson attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., address several listener questions on a variety of tax topics. They cover the tax implications of moving into a rental property, including how it affects capital gains and depreciation. They discuss the possibility of using an LLC as a management company for rental properties, allowing for contributions to a personal IRA. Eliot and Amanda also explain how negative cash flow from rentals can affect deductions and tax filings, the importance of staying organized with rental property expenses, and the co...
2024-12-2648 minAnderson Business Advisors PodcastStaking Crypto: How Are Rewards Taxed?
In this episode of Tax Tuesday, Anderson Advisors attorneys Clint Coon, Esq., and Eliot Thomas, Esq., discuss essential tax strategies for business owners and investors. Topics covered include late S election strategies, the best approach for payroll and officer compensation, and the benefits of Solo 401(k) plans over Roth IRAs. You’ll hear about how to tackle tax implications for cryptocurrency staking, offshore trusts, and real estate professional status. Additional insights include structuring holding companies for real estate investments, deducting rental expenses, and handling business losses. Tune in for expert advice on navigating complex tax decisions.
2024-12-1053 minAnderson Business Advisors PodcastDemystifying Cost Segregation: How Landlords Can Maximize Tax Savings on Property InvestmentsIn this episode of Tax Tuesday, Anderson Advisors attorneys Eliot Thomas, Esq., and Amanda Wynalda, Esq., dive into various tax strategies. You’ll hear about renting property to your business, self-rental rules, and IRS grouping options. Then, we address the sale of a California primary residence, including the $500,000 capital gains exclusion for married couples. We’ll explore cost segregation for landlords and the 1244 stock loss provision for individuals. We also have answers about tax implications for C Corps, including reimbursement rules for accountability plans and transitioning from LLCs. Lastly, we touch on Opportunity Zones, rental property sales strategies like 1031 exch...
2024-11-2646 minAnderson Business Advisors PodcastTurning Your Home into a Rental: Keeping Your 121 Exclusion Intact
n this episode of Tax Tuesday, Anderson Advisors attorneys Eliot Thomas, Esq., and Toby Mathis, Esq., tackle a variety of listener questions. Topics include strategies for managing cryptocurrency gains, converting a primary home to a rental without losing the 121 exclusion, and navigating the primary residence exclusion when selling a home. They also discuss the benefits of forming an LLC for consulting income, handling rehab costs for a fix-and-flip property, and meeting the Real Estate Professional criteria for tax purposes. Toby and Eliot dive into depreciation recapture, 1031 exchanges, and how to structure property ownership to avoid taxable events...
2024-11-121h 08Anderson Business Advisors PodcastConservation Easements in Crisis: What the New IRS Rules Mean for You!In this episode, Toby Mathis, Esq., of Anderson Business Advisors, chats with Tyler Surat of One Tree Advisors. Tyler is a seasoned expert in tax mitigation and land conservation strategies, who is helping clients utilize conservation easements to preserve land while mitigating taxes. You’ll hear the definition and benefits of conservation easements, the challenges posed by IRS scrutiny on certain easements due to misuse by "bad actors," and the importance of understanding state-specific tax laws. Tyler emphasizes the necessity of due diligence before pursuing an easement, considering factors like property registration and the differences between group and individual ap...
2024-11-0530 minAnderson Business Advisors PodcastCan You Deduct Tenant Damage and Cleanup Costs on Your Taxes?In this episode of Tax Tuesday, Anderson Advisors attorneys Eliot Thomas, Esq., and Toby Mathis, Esq., tackle a variety of listener questions related to tax deductions and property management. They discuss the implications of evicting tenants and the possibility of deducting repair costs, as well as how homeowners can deduct home office repairs. You’ll hear about the process for amending tax returns to include rental properties and explore the tax consequences of receiving large gifts from non-U.S. citizens. Additionally, they cover topics like the advantages of S-corp versus C-corp structures, the requirements for achieving real estate professional sta...
2024-10-291h 00Anderson Business Advisors Podcast5 Reasons To Ditch Traditional Office Space: The Office-Free EntrepreneurIn this episode, Toby Mathis, Esq., of Anderson Business Advisors, sits down with Mike Sullivan from Alliance Virtual Offices to discuss the evolving landscape of workspaces. Mike details five compelling reasons to abandon traditional office spaces, highlighting Alliance's impressive 40 years in the industry, with 20 years dedicated to virtual solutions. The discussion demystifies the concept of a "virtual office," likening it to the 'Airbnb' of office rentals. Listeners will learn about the array of services offered, including phone support, professional addresses, receptionists, and flexible meeting spaces—all for a budget-friendly monthly cost.
Virtual offices can mitigate ris...
2024-10-2325 minAnderson Business Advisors PodcastTax Strategies and Tips for Starting an Online BusinessThis episode of Tax Tuesday with Anderson Advisors attorneys Eliot Thomas, Esq., and Toby Mathis, Esq., tackle pressing issues faced by business owners and real estate investors. From the implications of switching health care reimbursements from a C-corporation to an LLC, to short-term rental strategies, Eliot and Toby discuss the 100-hour participation test and how to select the right property. Other topics include the intricacies of real estate professional status, the deductibility of expenses for damaged properties, and the mechanics of Qualified Business Income (QBI) deductions. Finally, listeners learn about tax management for online businesses (at 46:17) and the potential...
2024-10-181h 04Anderson Business Advisors PodcastCan You Use a 1031 Exchange for Property Flips Under One Year?In this episode of Tax Tuesday with Anderson Advisors attorneys Eliot Thomas, Esq., and Amanda Wynalda, Esq., we dive into essential real estate investment strategies and tax implications for property owners. Discover why selling a rental property to your LLC is considered a prohibited transaction and learn how to protect capital gains from your primary residence using the 121 exclusion. We discuss the limitations of 1031 exchanges for properties flipped within a year and outline how to determine a reasonable salary from your S-Corp while considering payroll taxes. Additionally, we clarify the requirements for maintaining real estate professional status, the treatment...
2024-10-0150 minAnderson Business Advisors Podcast1031 Exchange for Real Estate Investors (HUGE TAX SAVINGS!)Today Clint Coons, Esq., speaks with Aaron Kancevicius, the Lead 1031 Advisor/Director of Lending at Plenti Financial. Aaron takes us through the ins and outs of navigating the IRS’ 1031 exchange guidelines for investment properties. Aaron and Clint discuss the essentials of setting up a 1031 exchange, the importance of consulting with a CPA, and the necessity of a qualified intermediary. Aaron clarifies the complexities of depreciation, depreciation recapture, and the "like-kind" property rule. He outlines the critical timelines, including the 45-day identification and 180-day closing periods, offering tips for effective portfolio diversification. Additionally, you’ll hear advanced strategies like standard and...
2024-09-2447 minAnderson Business Advisors PodcastStrategies to Reduce Your Tax Liability as a Real Estate FlipperIn this episode of Tax Tuesday with Anderson Advisors attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., the pressing tax questions from listeners have a special focus on real estate issues. They dive into the complexities of tax benefits for short-term and long-term rental properties, addressing specific monetary scenarios. Toby and Eliot also explore the nuances of passive losses and real estate professional status, evaluating how a limited partnership investment and syndications impact tax strategies. Additionally, they clarify the effects of installment sales on capital gains tax, the tax implications of long-term capital gains for incomes below $93,000, and strategies...
2024-09-171h 12Anderson Business Advisors PodcastRenting Out a Property Without An LLCIn this episode, Toby Mathis, Esq., of Anderson Business Advisors, sits down with Brent Nagy, a highly accomplished real estate investor with over 20 years in the industry. Brent, who retired by the age of 40 with a portfolio of more than 50 cash-flowing properties, shares his expertise around the critical importance of proper asset protection, cautioning against owning real estate outside of a formal LLC or entity. He discusses common pitfalls and liability issues associated with residential properties, highlighting that a well-structured investment strategy can significantly reduce stress and risk. With a wealth of experience, Brent underscores that good intentions alone...
2024-09-0924 minAnderson Business Advisors PodcastWhat Is The Best Way To Avoid Estate Taxes?Today, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., answer listener questions with a focus on various strategies for minimizing estate and income taxes. You’ll hear about how to use non-profits or irrevocable trusts to avoid estate taxes, structuring an assisted care business with asset protection strategies, and setting up single-member LLCs taxed as S-Corps. For short-term rental tax deductions, it's clarified that a property can’t serve both vacation and business purposes. The questions also address investment in qualified opportunity zones or QOZ’s, 1099 tax options for truck drivers and other independent contractors, deducting home improvement costs, and al...
2024-09-041h 09Anderson Business Advisors PodcastThe $100K+ Retirement Plan You Need to Know AboutIn this episode of Anderson Business Advisors, Toby Mathis, Esq., speaks with Jeff Mason and Chris Hammond from Redwood Retirement on the intricacies of $100,000+ cash balance retirement plans, focusing on how innovative solutions can benefit business owners. They explore the key aspects of these plans, including what can be paid and deducted, the hurdles involved, and the flexibility they offer. The discussion covers the effectiveness of Redwood's solutions, highlighting when payments are due for the tax year and showcasing best-case examples of significant tax savings achieved through cash balance plans. Chris and Jeff also clarify the differences between Cash...
2024-08-2249 minAnderson Business Advisors PodcastHow The Federal Pivot Could Shake Up The Stock Market: Are You Ready?In this episode, Toby Mathis, Esq., of Anderson Business Advisors welcomes Erik Dodds- a seasoned financial planner, fiduciary, and active trader. Together, they delve into the anticipated pivot of the Federal Reserve from a hawkish to a dovish stance and its potential impacts on the market. Erik provides an in-depth analysis of historical trends and recent economic indicators to forecast future market movements, particularly focusing on the S&P 500 and its ETF proxy, SPY. He shares valuable investment strategies for both traders and long-term investors, including the use of covered calls, caller strategies, and understanding option Delta for optimizing...
2024-08-2129 minAnderson Business Advisors PodcastHow to Save Taxes When Flipping HousesToday, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., answer listener questions with a focus on optimizing tax outcomes for real estate investors and crypto enthusiasts. We explore strategies for handling income through complex entity structures, such as using an LLC and a C-corp to manage staking income and fund a 401(k). We also discuss the timing of LLC formation for crypto investments and how flipping houses can be structured within a C-corp or S-corp to minimize taxes. Listeners will learn about managing losses on short-term rental cabins, the implications of renting out a portion of your home, and...
2024-08-201h 08Anderson Business Advisors PodcastWhy Savvy Investors Use Land Trusts for Real Estate InvestmentsToday Toby Mathis, Esq. speaks with Lauren Robins, Esq., a senior real estate attorney with Anderson Advisors, about helping savvy investors use land trusts in the right scenarios. Lauren explains how land trusts act as a versatile tool for investors, likening them to a ‘Swiss army knife’ due to their broad range of applications. We explore what land trusts can and can’t do, including the intricacies of trust ownership and beneficiary roles. Lauren details how land trusts can help avoid unnecessary taxes, clarify sale clauses, and offer homestead exemption benefits. We also discuss equity stripping and how land trusts...
2024-08-1530 minAnderson Business Advisors PodcastStarting A Charity? 8 Differences Between Public Charities and Private Foundations To Help You DecideToday Toby Mathis, Esq. speaks with Karim Hanafy, Esq., a leading expert on non-profit law at Anderson, to explore the intricacies of starting and managing a charity, be it a public or private organization. Karim shares invaluable insights on navigating IRS regulations, the differences between public and private charities, and the implications of donations and tax deductions. The conversation delves into privacy concerns for board members and family, the challenges of fundraising for public charities, and the complexities of annual filing and reporting requirements. Karim also discusses potential tax burdens, dissolution clauses, and prohibited transactions. Tune in for expert...
2024-08-0833 minAnderson Business Advisors PodcastCan I Take A Loss On My Rental Property If I Sell It?Today, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., delve into listener questions including - how gains from crypto investments are classified as either ordinary income or capital gains. For property sales, we explore strategies to avoid capital gains tax, such as donating to a private foundation, and we clarify the impact of marriage timing on capital gains claims. We also cover tax implications for rental property expenses, including the timing of write-offs for losses and the criteria for short-term rental deductions. Additionally, we touch on medical reimbursements for C-corps, renovations for Airbnb setups, and backdoor Roth IRAs.
...
2024-08-0659 minAnderson Business Advisors Podcast2024 Real Estate Market Outlook Year-End Opportunities RevealedIn this episode, Toby Mathis of Anderson Business Advisors welcomes Neal Bawa back to the show for another eye-opening appearance. Neal is the founder and CEO of Grocapitus, a commercial real estate investment company, and CEO of MultifamilyU, an apartment investing education company.
Neal reports some jaw-dropping stats: 18 million families are priced out of homeownership due to salary versus mortgage disparities. Landlords are poised with a peak supply of 673,000 apartments in 2024, but the market will experience a shortage and price hikes in 2025-2026. The Federal Reserve's interest rate policies aim to balance inflation and affordability concerns, potentially...
2024-07-2533 minAnderson Business Advisors PodcastThe Best Options To Save on Taxes After Selling Your First FlipWelcome to another episode of Tax Tuesday. Today, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., delve into listener questions around various tax and business strategy questions. Topics include the active vs. passive income classification for S-corp distributions in a physical therapy home health business, the optimal timing for cost segregation and bonus depreciation in short-term rental activities, and the tax implications of transitioning from short to long-term rentals. Other discussions delved into Opportunity Zones, S-corp taxation for owner draws, classification of employees, IRA to foundation transfers, tax-saving strategies for property flips, overlooked investor deductions, 1031 exchanges for rental properties...
2024-07-231h 09Anderson Business Advisors PodcastThe Power of Using Money Twice To Invest in Real Estate StrategyToday Clint Coons, Esq., speaks with Christian Allen and Rod Zabriskie from Money Insights about the strategic use of life insurance policies for real estate investments. Learn how to maximize your financial resources by putting money to work through optimized contributions and leveraging the tax-free advantages of life insurance. Explore the flexibility of funding ranges tailored to your goals and discover how quickly you can access funds. Understand the process of taking loans from your policy to invest and the impact of simple versus compounding interest.
Christian Allen is the founder and CEO of Money Insights. He launched...
2024-07-1838 minAnderson Business Advisors PodcastHow To Use Your Self-Directed IRA For Real Estate InvestingToday, attorneys Toby Mathis, Esq., and Amanda Wynalda, Esq., delve into listener questions around topics like the benefits of LLCs for real estate investors, income-shifting tactics, and the implications of the Tax Cuts and Jobs Act on small business owners. The conversation also delves into the complexities of Qualified Business Income (QBI) deductions, using self-directed IRAs for real estate investments, and the tax implications of transferring appreciated property into LLCs. Submit your tax question to taxtuesday@andersonadvisors.com
Highlights/Topics:
Have you attended an in-person or virtual Tax and Asset Protection Workshops?
Anderson Advisors has done a great...
2024-07-091h 04Anderson Business Advisors PodcastInvesting with Confidence: Kevin Simpson on Covered Calls and ElectionsHave you ever worried about protecting your wealth during a volatile election year? Wondering what the rest of 2024 holds for the market? In this episode, Toby Mathis, Esq. chats with Kevin Simpson, founder and chief investment officer of Capital Wealth Planning, LLC. Kevin is a $10.3 billion wealth management expert, and shares insights from his book "Walk Toward Wealth" on navigating market uncertainty. Learn how to manage risk, write covered calls to hedge against volatility, and discover the surprising truth about election year performance. Kevin will also delve into the Madoff scandal, helping you identify a trustworthy custodian for your...
2024-07-0830 minAnderson Business Advisors PodcastThe Main Tax Differences Between An S-Corporation and C-CorporationToday, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., delve into listener questions around topics like borrowing from your QRP (Qualified Retirement Plan) without it being considered income, utilizing depreciation from syndications as a real estate professional, and writing off Airbnb setup costs. Learn how to establish accountable expense reimbursement plans for your C-Corp, handle taxes for disregarded property holding entities, and calculate depreciation post-1031 exchange. Discover efficient strategies for paying kids in your small business and choosing between S-Corp and LLC structures. Simplify the complexities of C-Corp taxes and learn how to invest in real estate via self-directed...
2024-06-2657 minAnderson Business Advisors PodcastThe Most Profitable Self-Storage Investing StrategyToday Clint Coons explores the evolving landscape of the self-storage industry with guest Ryan Gibson, CIO of Spartan Investment Group. Topics include shifts in customer demographics, such as millennials becoming the largest segment, and the impact of the 4 "D's" (death, divorce, dislocation, and downsizing) on demand. They also discuss rising rents despite a decrease in demand, innovative revenue streams beyond traditional storage, and the crucial role of facility management in investment success. Technological advancements and future investment opportunities, alongside considerations like market conditions and customer needs, round out this insightful exploration into the future of self-storage.
Ryan...
2024-06-2541 minAnderson Business Advisors PodcastHow to Avoid Paying Capital Gains Tax on InheritanceToday on Tax Tuesday, Anderson attorneys Eliot Thomas, Esq., and Amanda Wynalda, Esq. delve into listener questions around inheritance taxes on property and stocks, strategies to minimize capital gains when relocating homes, and the intricacies of 1031 exchanges and syndication investments. Additional topics include LLC taxation, depreciation on rental properties, and the choice between independent contracting and LLC formation in Florida.
Submit your tax question to taxtuesday@andersonadvisors.com
Highlights/Topics:
Is there any capital gains tax when my son inherits my property or stock? - It depends. With traditional stock it’s fair market value when you pa...
2024-06-1158 minAnderson Business Advisors PodcastHow Do I Pay Myself From My LLC Taxed As A Partnership?Welcome to another Tax Tuesday episode of the Anderson Business Advisors podcast. Today on the show, attorney Toby Mathis, Esq., is joined by Scott Estill, Esq., a former senior trial attorney with the IRS. Scott and Toby dive into how to defer capital gains taxes on real estate with a 1031 exchange and discover the best way to leverage your LLC for tax savings. You’ll hear about maximizing contributions to solo 401ks, deducting startup costs, and the tax implications of fix-and-flipping properties.
Submit your tax question to taxtuesday@andersonadvisors.com
Highlights/Topics:
1031 exchange - What are the ot...
2024-05-291h 04Anderson Business Advisors PodcastThe Ultimate Banking Solution for Small Businesses & Real Estate InvestorsAre you tired of struggling to open a bank account for your business or personal needs? In this podcast, Clint Coons addresses this common challenge and offers a better solution with Barry Sloane, Chairman and CEO of NewtekOne. Before becoming a part of NewtekOne, Mr. Sloane served as the Managing Director at Smith Barney, Inc., overseeing the operations of the Commercial and Residential Real Estate Securitization Unit.
Clint and Barry will shed light on the benefits of opening an account with NewtekOne as the premiere banking option built for businesses. Learn why NewtekOne stands out as a...
2024-05-2115 minAnderson Business Advisors PodcastHow To Choose The Best Entity For Flipping Real EstateWelcome to another Tax Tuesday episode of the Anderson Business Advisors podcast. Today, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., delve into listener questions around how real estate investors can maximize their returns and navigate the often-overlooked tax benefits associated with oil and gas investments within retirement accounts. They also share valuable tactics for employing family members in a business to shift income and save on taxes. A significant portion of the discussion is dedicated to flipping properties, as they clarify the tax implications of this active income, debate the benefits of cost segregation studies for flips, and...
2024-05-141h 06Anderson Business Advisors PodcastWhy Landlord Insurance Is Vital for Real Estate InvestorsHave you ever been caught off guard by the fine print in an insurance policy? Clint Coons, Esq. and Shawn Woedl of National Real Estate Insurance Group uncover the often overlooked details of property insurance that could spell disaster or salvation for your investment portfolio. We dig into the labyrinth of insuring your LLCs and land trusts, as we scrutinize landlord insurance and why it's a whole different ballgame from your typical homeowner's policy. From accidents on vacant lots, fentanyl-related incidents, dog bites, and even snakes in the rafters, Shawn's expertise sheds light on some wild scenarios where the...
2024-05-0241 minAnderson Business Advisors PodcastHow Can A 1099 Contractor Reduce Taxable Income?On today’s Tax Tuesday episode of the Anderson Business Advisors podcast, Eliot Thomas, Esq., is joined by Anderson CPA Barley Bowler. Barley and Eliot will cover some listener questions including strategies around deducting startup costs and choosing a business structure for loan eligibility, tax breaks like depreciation and claiming real estate professional status, paying taxes as a contractor on 1099 NEC forms, and when capital loss carryover deductions can be taken.
Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
"I joined Anderson and Infinity Investing in 2023, I established my first real estate investment, C-corporation, in December of...
2024-04-3050 minAnderson Business Advisors PodcastWhat Is The Best Tax Efficient Way To Purchase An Existing Business?Welcome to another Tax Tuesday episode of the Anderson Business Advisors podcast. Today, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., explain tax strategies for listener-submitted questions. The conversation digs into S-Corp vs. C-Corp for property management, understanding Unrelated Business Income Tax (UBIT) for non-profits, qualifying for Real Estate Professional status, and cost segregation and bonus depreciation for rentals.
Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
"Is it better to have an S-corporation or C-corporation as your property management company managing your land trust and property held in your disregarded LLC? Are you required to h...
2024-04-161h 08Anderson Business Advisors PodcastHow to Structure Your Real Estate FlippingIn this episode, Toby Mathis, Esq. chats with Jeffrey Cottle, Esq., Senior Attorney at Anderson Business Advisors, about the world of house flipping, with a focus on how to handle the tax implications. It emphasizes the importance of avoiding "dealer" status with the IRS and explores strategies like asset protection. Toby and Jeff discuss limitations placed on frequent flippers and analyze the pros and cons of different business structures like LLCs, C-Corps, and S-Corps. It concludes by examining the most common scenarios Jeff encounters at Anderson Advisors when working with house flippers.
Highlights/Topics:
Jeff Cottle intro
Flipping...
2024-04-1123 minAnderson Business Advisors PodcastCan I Contribute To My Health Savings Account After Leaving My Employer?In this episode, Toby Mathis, Esq., and Eliot Thomas, Esq., bring more of their tax knowledge to the masses, answering questions on HSA contributions, employing your children in your business, and keeping your assets in a self-directed IRA. Be sure to check out our FREE virtual events happening this month. Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
"For an LLC that opted to be taxed as an escort is it better to not just. the profits and let retained earnings grow on the balance sheet and invest retained earnings in stocks or other investments in the...
2024-04-021h 20Anderson Business Advisors PodcastThe Top 10 Types of Nonprofits You Can Set UpToday Toby Mathis, Esq. speaks with Karim Hanafy, Esq., Anderson’s non-profit expert, about the top ten types of non-profits you can form to access tax benefits for your charitable activities. These range from familiar causes like humanitarian aid (both domestic and international) to education (including scholarships) and even combating social issues through activities and therapy animals. Research, veteran/elderly assistance, and various housing needs rank high, as well as animal welfare, environmental causes, and empowering communities. Finally, the importance of supporting other nonprofits, regardless of their specific cause, is also an option.
Highlights/Topics:
Karim’s background/expe...
2024-03-2131 minAnderson Business Advisors PodcastHow To Write Off Travel ExpensesWelcome to episode #214 of the Anderson Business Advisors podcast. Today, experts Toby Mathis, Esq., and Eliot Thomas, Esq., explain tax strategies for common questions concerning how to write off business travel that includes personal days (hint: business days have to be more than 50% of your trip), how and when you can qualify as a real estate professional, investing in real estate from your investment accounts, and some of the helpful tax benefits of creating and using a Health Savings Account.
Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
"Can I deduct travel expenses to rehab...
2024-03-1956 minAnderson Business Advisors PodcastHow to Form a Nevada Asset Protection TrustIn this episode, Toby Mathis, Esq. chats with fellow attorney John Anderson, Esq. of Anderson Business Advisors about the pros and cons of establishing trusts in Nevada. The discussion digs into Nevada trusts' specific functions and benefits, including the "seasoning period" and the role of trustees. Toby and John explore how a third-party trustee can offer protection, methods for withdrawing funds, and the power of appointment in Nevada trusts. Additionally, they touch upon safeguarding your home with a trust, using a trust for essential expenses, and the potential risks of insolvency and bankruptcy. The conversation highlights the likelihood of...
2024-03-1429 minAnderson Business Advisors PodcastHow To Wholesale Real Estate (Best Structure & Asset Protection!)Clint Coons, Esq. and Greg Helbeck from Velocity Home Buyers tear down the facade that wholesaling is a no-risk investment, exposing the legal snares and fiscal sinkholes that might just catch you off-guard. Hear about Greg's near-miss disaster when a contracted property burned to the ground, a story that underscores the need for bulletproof business strategies to safeguard your ventures against the unpredictable foibles of real estate.
Lastly, we traverse the digital landscape of virtual real estate, covering the essentials for managing sales and renovations without once stepping foot on the property. There's a treasure trove of insights...
2024-03-1245 minAnderson Business Advisors PodcastInvesting In CASHFLOWING RENTALS (How To Get Started)Clint Coons, Esq. speaks with Kenji and Letizia Alto, who are both MDs and founders of Semi-Retired MD. They share their journey from being high-income physicians to achieving financial freedom through real estate investing. The episode delves into the mindset shifts required to excel in the property market, overcoming common obstacles, and utilizing strategic tax benefits. The couple also introduces their new fable-like book, contrasting the financial paths of two couples. You’ll hear about building a strong investment team, identifying hidden equity, and leveraging techniques like cash-out refinancing and 1031 exchanges to maximize returns and accelerate the journey toward fi...
2024-03-0736 minAnderson Business Advisors PodcastHow To Report Income From A Short-Term Rental PropertyToday, experts Toby Mathis, Esq., and Elliot Thomas, Esq., explain valuable tax strategies for real estate investors, traders, and various income earners. You’ll hear about the optimal tax classifications for short-term rentals, using retirement funds for real estate investment, and the transition from W-2 to 1099 income for tax benefits. Additionally, Eliot and Toby discuss maximizing deductions through trading partnerships, the benefits of Health Savings Accounts, vehicle write-offs, and home office deductions. Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
Is short -term Airbnb and VRBO (short term rentals) under Schedule C or Schedule E? - if it...
2024-03-051h 00Anderson Business Advisors PodcastProfit First and Beyond: Mike Michalowicz Unveils 'All In' Strategies and Success StoriesHave you ever wondered how flipping the script on profit can revolutionize your business? Mike Michalowicz joins Toby Mathis, Esq., to dissect his innovative 'Profit First' formula, a game-changer for entrepreneurs swimming against the tide of traditional financial management. Mike, the sage behind several seminal business books, engages in a no-holds-barred discussion about the essentials of a prospering business—prioritizing profit, pinpointing pressing needs, and strategies for organic growth. You’ll also hear the details of Toby’s own multi-million-dollar tumble and the invaluable lessons that journey taught me, all of which dovetail with Mike's profound insights.
Highlights/Topics...
2024-02-2229 minAnderson Business Advisors PodcastAre Educational Courses Tax Deductible?This episode of Tax Tuesday, Toby Mathis, Esq., and Eliot Thomas, Esq., cover topics including paying your children from your business, when you can write off meals as “business” - (hint: it all comes down to ‘intent’), and how often you should meet with your CPA. Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
"Does my S-corporation where I am the sole owner and sole employee have to issue a 1099 to me as an individual?" - In general, you're S-corporation, you're an employee, so you would get a W-2. It's what we call reasonable income.
"If my husband...
2024-02-211h 12Anderson Business Advisors PodcastAre Gifts To Clients And Employees Tax Deductible?This episode of Tax Tuesday with Toby and Eliot is brimming with strategies to supercharge your financial savvy. From unlocking the mysteries of deductions and depreciation to turning real estate activities into a tax-saving powerhouse, we dissect the fine print of the tax code and transform it into actionable advice. The episode covers various topics including handling missed 1099 deadlines, gifting to clients and its tax implications, maximizing deductions, the benefits of cost segregation studies, combining short and long-term rentals for tax advantages, and the intricacies of aircraft depreciation for a flight instructing business. Remember, knowledge is power, especially when...
2024-02-061h 04Anderson Business Advisors PodcastHow to Structure a Residential Assisted Living BusinessWelcome back to another engaging session of Tax Tuesday from Anderson Business Advisors, where your pressing tax queries meet expert insights! In this episode, host Toby Mathis, Esq., welcomes regular guest Eliot Thomas, Esq., Manager of Tax Advisors at Anderson Business Advisors. This week, we explore the benefits of strategic corporate partnerships in investments, the allure of residential assisted living businesses, and the unique tax considerations for collectibles like wine. Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
If I purchase a vehicle in 2023, primarily for my business, is there a percentage I have to...
2024-01-231h 21Anderson Business Advisors PodcastHow Do Offshore Corporations and Trusts Work in the USJoin Toby Mathis, Esq., as he speaks with international tax expert Jimmy Sexton, LLM., the Founder & CEO of Esquire Group, about unraveling the enigma of offshore banking and its impact on US taxpayers. Despite popular belief, Jimmy reveals that the era of offshore banking providing substantial tax benefits is over, with the true perks lying elsewhere such as asset protection and market access. We navigate through the murky waters of tax evasion myths and scrutinize how various income structures, including disregarded and taxable entities, bear on one's tax obligations. Moreover, Jimmy illuminates the effects of the GILTI and Subpart...
2024-01-1629 minAnderson Business Advisors PodcastWhen Are Crypto Earnings Taxed?Ever wonder how cryptocurrencies and real estate investments play together in the sandbox of taxation? Or how to pay your family members through your business in a way that could benefit everyone's wallet? We've got answers to these questions and more. Welcome to another episode of Tax Tuesday, where tax experts Toby Mathis, Esq., and returning guest Jeff Webb, CPA, and CFO of Anderson Business Advisors share their expert advice. This episode delves into the nuances of crypto transactions and the impact on your tax bill, along with a deep dive into payroll complexities that could save you a...
2024-01-091h 08Anderson Business Advisors PodcastWhy Invest in Multi-Family and Why NowIn this episode, Toby Mathis, Esq, of Anderson Business Advisors welcomes Jen and Stacy Conkey, the founders of Remote Multifamily Investing Academy.
As the visionaries behind the Remote Multifamily Investing Academy™, Jen and Stacy have disrupted the status quo. They've developed the #1 Multifamily Academy for scaling in multifamily real estate, emphasizing the underestimated power of joint ventures before diving into larger syndications. With Jen & Stacy, you're not just getting advice; you're getting a transformative experience. They're not just knowledgeable; they're relatable, enthusiastic, and ready to make a real impact.
Highlights/Topics:
Three important roles to make a te...
2024-01-0332 minAnderson Business Advisors PodcastHow To Select The Best Entity For Flipping HousesWelcome to our last Tax Tuesday for 2023, where tax experts Eliot Thomas, Esq., Manager of Tax Advisors at Anderson, and returning guest Jeff Webb, CPA, CFO of Anderson Business Advisors share their expert advice on topics like crypto taxes, reimbursement for moving expenses if you’re in the military, and investing in real estate with your IRA. You’ll hear how to protect yourself when flipping houses, by creating the right kind of entity to hold those properties. Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
"How can training costs including travel be tax deductible? If we got...
2023-12-2757 minAnderson Business Advisors Podcast10 Ways To Reap Huge Benefits From A 501(c)(3)In this episode, Toby Mathis, Esq, of Anderson Business Advisors welcomes Karim Hanafy, Esq., head of Anderson Business Advisors’ Non-Profit Division. Karim and Toby will go over ten benefits of either donating to, or setting up your own 501(c)(3). From donor-advised funds to public vs. private foundations, Toby and Karim explain all the pros and cons.
Karim is a nonprofit attorney with over 20 years of experience forming nonprofit organizations, obtaining 501(c)(3) tax-exempt status, advising with ongoing compliance, and assisting with annual tax reporting. Karim previously worked in the Tax Exempt Division at the IRS, and he uses hi...
2023-12-2230 minAnderson Business Advisors PodcastSide Gig or Career: Why You Should Learn To WeldIn today’s episode, Toby Mathis, Esq. welcomes Tyler Sasse (“Sassy”), owner, founder, and lead instructor of Western Welding Academy in Gillette, Wyoming. Voted "#1 Welding School in the World", Western Welding Academy is the only pipe welding school in the country solely owned and operated by real pipeline/pipe welders. Toby and Tyler discuss teaching work ethic and integrity, how welders can make huge annual salaries after the academy’s 6-month program, the deficit of skilled workers and needs within the construction and other industries, and how to apply to attend this valuable trade school program.
Tyler Sasse’s...
2023-12-1325 minAnderson Business Advisors PodcastHow Can You Write Off Business Start-Up Expenses?Welcome to another episode of Tax Tuesday, where tax experts Toby Mathis, Esq., and returning guest Jeff Webb, CPA, CFO of Anderson Business Advisors share their expert advice on writing off business expenses, end-of-the-year options for saving on tax deductions, inquiries about organizational vs. startup expenses, and how to borrow from your life insurance policy to invest in real estate. Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
All my LLCs are disregarded…. I’m in the process of setting up…What are some of the write-offs for 2023? - You normally can’t write off until the business...
2023-12-121h 09Anderson Business Advisors PodcastHow To Minimize Capital Gains Tax On StocksIn this episode, host Toby Mathis, Esq., welcomes regular guest Eliot Thomas, Esq., Manager of Tax Advisors at Anderson Business Advisors, to discuss several questions about taxation and S-Corps. Other topics include paying your children to work on your real estate properties, paying medical deductibles with your HSA, and of course minimizing capital gains taxes on stocks you’ve purchased. Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
Is there any differences between bonus depreciation and 179 depreciation and, if yes, what are the differences? - They are completely different, though easily confused, and you can use them to...
2023-12-061h 06Anderson Business Advisors PodcastThe Best Low-Cost Side Gig For 2024In today’s episode, Toby Mathis, Esq. welcomes Shane Sams, CEO and Co-Founder of Flippedlifestyle.com. Shane is one half of the dynamic duo at FlippedLifestyle.com with his wife Jocelyn. The Sams Family built an online membership business that generates hundreds of thousands of dollars per year in profit, while only requiring a few hours of work per week. Now they help other people build & grow online memberships of their own.
Highlights/Topics:
Shane’s path to finding his own side gig
Librarians and their challenges
Selling what you know and solving problems
Startup costs and hosting plat...
2023-12-0531 minAnderson Business Advisors PodcastLand Investing Demystified: Proven Strategies for Finding Lucrative DealsIn this episode, Clint Coons, Esq. speaks with Seth Williams and Neil Clements, experienced real estate investors who are joining us to discuss land investment deals that may be a little off the beaten path. From sending out blind offers by mail, to water and mineral rights, to subdividing parcels, Seth and Neil give you the inside track on challenges and opportunities within this lucrative space in real estate investing.
Seth Williams is the founder of REtipster.com; an online community that offers real-world guidance for real estate investors.
Neil Clements is an avid real...
2023-12-0137 minAnderson Business Advisors Podcast4 Legal Landmines: How Landlords Can Avoid Costly LawsuitsDid you know you could be sued if your tenant’s dog bites someone? In this episode, Toby Mathis, Esq. welcomes Shawn Woedl, President and CEO of the National Real Estate Insurance Group. Shawn is an industry-recognized speaker and educator with an emphasis on Commercial Property and Premises Liability, and shares the top four lawsuits his company sees every day. From slip and falls to discrimination and dog bites, tune in to find out how to protect yourself from these common scenarios.
Highlights/Topics:
Top lawsuits as seen at National Real Estate Insurance Group
Lawsuit sizes - how muc...
2023-11-2123 minAnderson Business Advisors PodcastHow To Use Your 401(k) Or IRA To Invest In Real EstateIn today’s Tax Tuesday episode, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, CPA, the CFO of Anderson Business Advisors, discuss some interesting tax questions including questions around gifting your home or property to your children while you’re still alive (tip: don’t do it), passive vs. active income on rental properties, and how/when you’re able to use a loan from your investment accounts to purchase real estate.
Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
"Could I still qualify for the Qualified Business Income Deduction for rental activities even if...
2023-11-141h 16Anderson Business Advisors PodcastCan You Benefit From A Cost Segregation At Any Time?In today’s Tax Tuesday episode, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, CPA, CFO of Anderson Business Advisors, discuss the usual mix of complex and simple tax questions including questions around paying minor children through your LLC, gifting vs. inheriting property, structuring your stock trading business, and how and when to use cost segregation to get the biggest tax benefits. Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
“When dissolving a C-Corporation with a single share holder and having a net operating loss, does the loss go on the shareholder’s personal return and ca...
2023-10-311h 07Anderson Business Advisors PodcastWhat Steps To Take When Facing a LAWSUIT (And How to Sue Someone)Toby Mathis, Esq. welcomes Jason Zundel, Esq., an asset protection and estate planning attorney with Anderson Business Advisors. Jason and Toby discuss all the aspects of lawsuits, including getting served, things to worry about, protecting yourself, being actively involved, and possible outcomes. Protect your assets with Anderson’s asset protection services.
Highlights/Topics:
You need to receive a Service of Process for an actual lawsuit
Default judgements
Case studies from Toby and Jason - suits can haunt you for decades
Next steps when responding to a suit
Timeline to expect
Pursuing YOUR rights with a lawsuit- first steps
The...
2023-10-2629 minAnderson Business Advisors PodcastHow To Use The 1031 Exchange To Avoid Taxes In Real Estate InvestingIn this episode of Anderson Business Advisors, Toby Mathis, Esq., welcomes Anderson Attorney Jonathan Evans, Esq., to dig into the ins and outs of using the IRS’ 1031 exchange in your real estate investment toolbox. Jonathan shares what a 1031 exchange is, how it works, what types of real estate investments you can exchange, the potential pitfalls, using a qualified intermediary (QI), and more.
Highlights/Topics:
Light/kind or 1031 exchanges
Using 1031 as a tool – only for trading real estate investment properties
Carrying out the transfer - using an intermediary or ‘accommodator’
Other rules and requirements - timeframe and number of propertie...
2023-10-2519 minAnderson Business Advisors PodcastHow To Elevate Your Real Estate Investing (27+ Years Expert Advice!)In this episode, Clint Coons, Esq. speaks with Shannon Robnett, a 4th generation real estate professional who has built his deal network by being THE BEST resource for ‘connections.’
For more than 30 years, Shannon Robnett Industries (SRI) has built a strong reputation as a leading commercial real estate investment group by investing in multi-family properties in the Treasure Valley. Their family of subsidiaries, including My Vertical Equity, Phoenix Commercial Construction, and Executive Management Services (EMS) Property Management, have grown to become a substantial earner in multi-family real estate syndication, investing in and around Boise, Idaho.
Highlights/Topi...
2023-10-2442 minAnderson Business Advisors PodcastIs Airbnb Dead? The Numbers Nobody is DiscussingIn this episode of Anderson Business Advisors, Toby Mathis, Esq., welcomes Jamie Lane, the Chief Economist and SVP of Research at data aggregator AirDNA. Jamie’s research leadership has helped the whole STR (short-term rental) industry understand the drivers of success. He is a leading voice of authority on the health and outlook for the STR industry: on top of hosting AirDNA’s own podcast, STR Data Lab, he is a regular contributor to international media outlets such as Wall Street Journal, New York Times and Bloomberg, providing exclusive analysis and forecasts of the industry to global audiences. Jamie delv...
2023-10-1930 minAnderson Business Advisors PodcastHow To Write-Off General Business ExpensesOn today’s Tax Tuesday, host Troy Butler, Senior Manager of Bookkeeping at Anderson, speaks with Jeff Webb, CPA, Vice-President of Professional Services at Anderson about some timely tax questions around deductions and payroll. The discussion also addresses some detailed information around bookkeeping including services offered by Anderson, and other apps and software that are best for certain situations. Submit your tax questions to taxtuesday@andersonadvisors.
Highlights/Topics:
"How do you write-off classes or courses, cars, equipment, or anything in general? What is the process? What do you keep? How do you show your proof of funds spent?" In...
2023-10-1752 minAnderson Business Advisors PodcastThinking of Buying a Business? How Big Changes to SBA Rules Can Make That a RealityIn this episode of Anderson Business Advisors, Toby Mathis, Esq. welcomes back Trent Lee of First Choice Business Brokers (FCBB). Trent has been ranked NUMBER ONE in business brokerages for the last five years in a row. You’ll hear Toby and Trent discuss the latest industry stats and requirements surrounding the purchase of small businesses. From restaurants to medical facilities to construction companies, there’s something for every interest in this space. Get in touch with Trent if you want the expert in the business broker space.
Highlights/Topics:
Trent’s the number one business broker in the co...
2023-10-1236 minAnderson Business Advisors PodcastReal Estate Wholesaling: How to Safeguard Your Deals from SellersIn this episode, Clint Coons, Esq. speaks with “Mojo Michael” Gefteas about real estate wholesaling. Clint has been working with Michael for many years in the wholesaling space. After 25 years in the ‘corporate world,’ Michael went out on his own, building a huge buyers list over most of the last decade, and fine-tuning the way buyers and sellers approach wholesale deals. In this episode, you’ll hear about what wholesaling is, why you should consider investing this way, and some of the pitfalls and advantages of purchasing real estate with these methods.
Highlights/Topics:
What is wholesaling?
Contracts in Texas
Do...
2023-10-1020 minAnderson Business Advisors PodcastHow Crypto Mining, Sales, and Staking is TaxedToby Mathis, Esq. welcomes Preston Knight, Esq., Senior Attorney at Anderson Advisors to the show to discuss some of the tax implications around crypto mining. You’ll hear how and when transactions are taxed, how the IRS views crypto and mining as a business entity, and some tips and tricks for avoiding and minimizing short and long-term capital gain and other taxes.
Highlights/Topics:
Taxable events
How the IRS views your work
Capital gains hit when paying with bitcoin
Short vs. Long term gains
‘Staking’ and how it is taxed
Working through an S-Corp
How to use a Roth t...
2023-10-0514 minAnderson Business Advisors PodcastHow To Be a Note Investor (A Step-by-Step GUIDE)Host Toby Mathis, Esq. speaks with Bill Mencarow, founder of The Paper Source and 30-year veteran of real estate note investing. Bill writes for Think Realty magazine and has authored several guides and seminars on notes. He has been interviewed on numerous radio and TV programs including “Good Morning America,” national networks and in major U.S. newspapers and magazines.
You’ll hear Bill and Toby discuss the pros and cons of note investing, including how and when you can buy and sell, getting cash out of your note, and what to look for when buying a note...
2023-10-0425 minAnderson Business Advisors PodcastHow Day Traders Can Reduce Taxes LegallyOn today’s Tax Tuesday, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, CPA of Anderson Business Advisors, share their expert advice on tax strategies associated with setting up a home office, the potential consequences of being classified as a real estate dealer instead of investor, and how the IRS can view real estate flips as inventory and treat you as a dealer, leading to self-employment tax and other repercussions. Listeners are also guided through minimizing stock gains as a day trader and understanding rental property ownership. Submit your tax question to taxtuesday@andersonadvisors.
Highlights/Topics:
Wh...
2023-10-031h 12