How do You Sell a House You Inherit?

by Toby Mathis

April 20, 2021

Free Tax Tips & Strategies

In this episode of Tax Tuesday, tax attorney Toby Mathis, Esq. and CPA & Tax Director at Anderson Business Advisors, Jeff Webb, bring tax knowledge to the masses and answer your tax questions LIVE!

15:42 – When you have a PLLC, how do you know what goes on a personal or business card? 22:18 – How do I go about transferring stock options to a 501(c)(3) before selling to avoid all capital gains?
33:28 – How do you claim the solar credit on your personal residence?
39:13 – Should I file a return with my kids as dependents or should they file their own return if they are paid from family biz?
46:10 – I have a rental property in CA. When I go there to work on it can I use per diem plus mileage rather than actual receipts for housing and meals?
49:27 – Can you describe S-corporation nontaxable distributions or dividends?
54:45 – I haven’t done taxes for 2020 and I’d like to know how to write-off bills for my emotional support animal. Can that be done together with business taxes?

As always, take advantage of our free educational content and every other Tuesday we have Toby’s Tax Tuesday, a great educational series. Our Structure Implementation Series answers your questions about how to structure your business entities to protect you and your assets. One of my favorites as well is our Infinity Investing Workshop.

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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.