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Tax Tuesdays
Tax Tuesday Episode 120: 401K

It’s the middle of a sweltering summer and the July 15 deadline to pay your income taxes is fast approaching. Don’t worry because Toby Mathis and Jeff Webb of Anderson Advisors offer a bevy of knowledge to avoid getting burned. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.


  • What is the most tax-efficient way for 401(k) to Roth 401(k) conversion? Entire amount does not need to be converted in one year, or you’ll take a major tax hit 
  • How do I start a real estate business with income from our current businesses? Is this possible? Yes, pull money out of businesses to establish new real estate entity
  • How do I elect trader status? State that you are a trader or select mark-to-market election method of accounting for securities traders
  • How can I identify tax breaks at certain income levels? If your income is below the $100,000 threshold, use standard deduction, IRAs, and more to not pay any or much tax  
  • What is the easiest or best accounting software to keep up with your business expense and get the best tax reductions? Most prevalent software used for accounting and bookkeeping services is QuickBooks  

For all questions/answers discussed, sign up to be a Platinum member to view the replay!

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Infinity Investing Workshop

Tax-Wise Business Ownership by Toby Mathis

1-day Online Tax-Wise Class

Individual Retirement Arrangements (IRAs) 

Traditional and Roth IRAs

1031 Exchange


Economic Injury Disaster Loan (EIDL)

Paycheck Protection Program (PPP)

Paycheck Protection Program (PPP) Flexibility Act

Small Business Administration (SBA)

Wills and Trusts

Bonus Depreciation

Depreciation Recapture

Real Estate Professional Requirements

Capital Gains Exclusion/Section 121

Self-Employment Tax

Internal Revenue Service (IRS)

Tax Cuts and Jobs Act (TCJA)

Federal Realty Trust (FRT)

1099 Form

Traders in Securities

Form 4797

Charitable Organizations

Form 2553

Affordable Care Act (ACA) 



JD Edwards

Home Office Deduction

Schedule C

Cost Segregation

Toby Mathis

Anderson Advisors

Anderson Advisors Events

Anderson Advisors Tax and Asset Protection Event

Tax-Wise Workshop

Anderson Advisors on YouTube

Anderson Advisors on Facebook

Anderson Advisors Podcast

Full Episode Transcript:

Toby: Hey, guys. You’re listening to Tax Tuesday. This is Toby Mathis.

... Read Full Transcript