What Is The Best Tax Efficient Way To Purchase An Existing Business?
Podcast | Anderson Advisors | Asset Protection & Tax Advisors
by Toby Mathis
1w ago
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 manage ..read more
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How to Structure Your Real Estate Flipping
Podcast | Anderson Advisors | Asset Protection & Tax Advisors
by Toby Mathis
1w ago
In 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 flipper ..read more
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Can I Contribute To My Health Savings Account After Leaving My Employer?
Podcast | Anderson Advisors | Asset Protection & Tax Advisors
by Toby Mathis
3w ago
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 name of ..read more
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The Top 10 Types of Nonprofits You Can Set Up
Podcast | Anderson Advisors | Asset Protection & Tax Advisors
by Toby Mathis
1M ago
Today 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 nonprofi ..read more
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How To Write Off Travel Expenses
Podcast | Anderson Advisors | Asset Protection & Tax Advisors
by Toby Mathis
1M ago
Welcome to 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 r ..read more
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How to Form a Nevada Asset Protection Trust
Podcast | Anderson Advisors | Asset Protection & Tax Advisors
by Toby Mathis
1M ago
In 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 ..read more
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How To Wholesale Real Estate (Best Structure & Asset Protection!)
Podcast | Anderson Advisors | Asset Protection & Tax Advisors
by Clint Coons
1M ago
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 t ..read more
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Investing In CASHFLOWING RENTALS (How To Get Started)
Podcast | Anderson Advisors | Asset Protection & Tax Advisors
by Clint Coons
1M ago
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-ou ..read more
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How To Report Income From A Short-Term Rental Property
Podcast | Anderson Advisors | Asset Protection & Tax Advisors
by Toby Mathis
1M ago
Today, 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 ..read more
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Profit First and Beyond: Mike Michalowicz Unveils ‘All In’ Strategies and Success Stories
Podcast | Anderson Advisors | Asset Protection & Tax Advisors
by Toby Mathis
2M ago
Have 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 lesso ..read more
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