Toby 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.
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 – including the three P’s – Property, Paper, and Payer.
On today’s Tax Tuesday, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, Esq., CFO 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.
What You Need To Know About The IRS Crackdown On Tax Evasion
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Should you be terrified by the IRS’ new league of 89,000 agents that they claim they’re hiring to do audits on people who make over $400K? Host Toby Mathis, Esq. and Lauren Robins, Esq., a Senior Attorney at Anderson, discuss the reality of what these numbers mean, and what they could mean for the average Jane and Joe Taxpayer.
California Investors - Learn How to Avoid the Franchise Tax & Save Thousands
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In today’s episode, Toby Mathis, Esq. welcomes Carter Coons, Esq., an attorney at Anderson whose last name you may recognize… he is also the son of partner Clint Coons. Carter shares some of the benefits of utilizing a Wyoming Statutory Trusts (WSTs) as holding companies for your California LLCs to avoid the $800 per entity tax that is due annually.
Toby is an attorney on a mission to help investors and business owners keep and grow more. A founding partner of Anderson Business Advisors, Toby helped Anderson grow its practice from one of business and estate planning to a thriving tax practice and registered agent service with tens of thousands of clients nationwide. In addition to advising clients and investing in his own real estate projects throughout the United States, Toby is a member of the Forbes Real Estate and Finance Council and has authored several books, including Tax-Wise Business Ownership (now in its fourth edition) and 12 Steps to Running a Successful Business. Toby teaches extensively throughout the US to groups of investors and professionals, with many of his courses certified for continuing education credit for legal, accounting, and real estate professionals. He teaches a popular bi-weekly webinar, Tax Tuesday, where business owners and investors can ask any tax question and get answers LIVE on-air.