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!


9:55 – What is the process for a non-profit to invest in syndication?

12:35 – Can I write off the interest on the amounts over $1m in my s corp for house flips?

19:37 – What are the pros and cons of moving a company to Puerto Rico for tax planning purposes?

23:53 – Are life insurance proceeds taxable if a revocable living trust is the beneficiary?

26:41 – Would the tenant pay their monthly rental check in the name of an s-crop?

35:04 – If we put our personal bank accounts and investment accounts into a revocable living trust, must we change the owner’s name on the bank account from our name to the name of the trust?

40:29 – I am buying property in AR in my name, putting into an LLC, the LLC will be put inside a WY LLC. How do I pay my CA taxes properly since I’m in CA with these other LLCs? Also, can I move my CA properties to an out of state LLC to reduce my taxes?

45:28 – At the exit of a real estate syndication, can suspended passive losses be released to offset the 1231 gain?

48:47 – I have been told that as a land flipper I would not be considered a dealer by the IRS, do you agree?

54:23 – Is tuition for professional learning deductible?

57:59 – Can you buy an Airbnb with money inside and outside of an IRA?

1:02:36 – I am selling my primary residence house and will close 7/23/21. I am not buying a new house immediately. How long do I have to reinvest? Do I need to keep the funds separate? Can I use them in the interim to either invest or pay off debt, then later “rollover” the full amount in a new house?

As always, take advantage of our free educational content and every other Tuesday we have Toby’s Tax Tuesday, another 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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