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Tax Tuesdays
Tax Tuesday Episode 128: Real Estate Syndications

What could happen to the step-up in basis and estate tax depending on what state you live in and how you vote in the upcoming presidential election? Before you take drastic action to change your tax plan, Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.


  • I’m a computer engineer in California with a 350k salary. This year, I got an extra bonus of about 100k and received 70k short-term capital gain from the investment. Is there anything I can do by the end of this year to still save on tax? Yes, maximize your retirement plan contributions and offset capital gains by harvesting capital gain losses
  • Our beneficiary IRAs become self-directed (SD) IRAs to purchase rental properties. We are retirement age, but don’t have to take required minimum distribution (RMD), yet. Our goal for this year is to pay 12 percent taxes on AGI. That percentage may increase in future years. Can we convert the SD IRAs to Roths? There is no limitation as far as age is concerned to convert a traditional IRA into a Roth IRA; if you have an RMD, then you have to pay the RMD before converting the traditional into a Roth IRA
  • I am a high-income earner and have a short-term rental in service for 12/2020. In order to take advantage of tax benefits, would you recommend cost segregation this year and use losses toward active income? A short-term rental does not always go on Schedule C; substantial services must be provided to short-term tenants and average stay must be seven days or less or will go on Schedule E

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Here’s where Biden and Trump stand on your taxes

Tax Cuts and Jobs Act (TCJA)

St. Louis Federal Reserve Economic Data (FRED)

Individual Retirement Arrangements (IRAs)

Traditional and Roth IRAs

Wills and Trusts

Bonus Depreciation

Depreciation Recapture

Credits and Deductions

Capital Gains and Losses

Conservation Easement

Real Estate Professional Requirements


Home Office Deduction

Self-Employment Tax

1099 Form

Puerto Rico Tax Incentives (Act 20 and 22)

Charitable Organizations



Old Age, Survivors, and Disability Insurance (OASDI)

Schedule C

Schedule E

Form W-2

Paycheck Protection Program (PPP)

Form 1065

Unrelated Debt-Financed Income (UDFI)

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Full Episode Transcript:

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

... Read Full Transcript