Is a Self-Directed IRA a Good Choice for You?

by Toby Mathis

November 5, 2019

In this episode of Tax Tuesday, Toby Mathis brings tax knowledge to the masses and breaks down your tax questions LIVE! He’s joined by Jeff Webb, CPA and Tax Director at Anderson Business Advisors.

Updated March 23, 2021

Featured questions:

We are purchasing our first buy and hold property through an LLC. All the loan documents request our personal name, info, and signatures. Thought an LLC was to help with protection via anonymity of personal information. How does one sign for an LLC purchase?
How can I minimize taxes for someone with no kids who, under the new tax law, can no longer itemize?
Can you get lender financing for a property deposit from a self-directed IRA?
Are horses and their expenses tax deductible?
Can a revocable living trust be the managing member of an LLC flowing through to a couple’s tax return when there are two trustees?
What do you need to do to use the medical 105 plan and reimburse your medical expenses?
What is the meaning of DBA and what are the implications of setting up a business structure using a DBA?
I recently sold a home and purchased another in the same year. I did not fill out any special tax paperwork. Will this qualify as a 1031 exchange?
Is it better to form an LLC or a corporation for rental properties?
If I plan to purchase one or more vehicles with the intent of renting them out, should I title the vehicles in an LLC?
Should I turn my residence into a rental property, sell after two years, and 1031 it to delay paying property gains (one million in tax)?
Is it possible to offset gains from rents with depreciation?
Can I expense travel to a remote real estate investment owned by my qualified plan in order to supervise renovation?
Can a small, newly set up LLC buy a property?

Watch now as Toby Mathis, Esq., and Jeff Webb, CPA, break down complicated tax laws to make them easier to understand, helping you save your hard-earned money.

Click here to register for the next Tax Tuesday, then get your tax questions answered by the experts by sending them in advance to TaxTuesday@andersonadvisors.com.

Author Bio

Toby Mathis, Esq. ~ Founding Partner, Attorney, Author & Business Tax Expert.

Toby Mathis is a founding partner of Anderson Law Group and current manager of Anderson’s Las Vegas office.

He has helped Anderson grow its practice from one of business and estate planning to a thriving tax practice and national registered agent service with more than 18,000 clients.

In his work as an attorney, he has focused exclusively in areas of small business, taxation, and trusts. In addition, Toby was the past director and host of the longest-running local business radio program on KNUU in Las Vegas “The BOSS Business Brief”.

He sits on the board of directors for several companies and was recently appointed to the local board of Entrepreneurs’ Organization, a worldwide association of owners of successful businesses. He has authored more than 100 articles on small business topics and has written several books on good business practices, including first, second and third editions of Tax-Wise Business Ownership and 12 Steps to Running a Successful Business.