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!
06:58 – How does a single, high W-2 earning individual take advantage of passive losses? 13:17 – How are inherited stock shares treated when sold?
21:35 – Is there any limit on using required minimum distributions for multiple charitable donations? Could a partial RMD be taken in January, and then have the charitable portion spread out in donations over the rest of the year?
24:58 – Should an S-corp. pay profits as dividends?
33:23 – Is it preferable to have a C-corp. or an LLC as your holding entity?
40:50 – Can a part-time W-2 employee (20 hours per week) be considered a full-time real estate investor (I currently own 4 rentals) and claim deductions such as a home office and paying my child to perform bookkeeping?
51:35 – I have lived in my house since 2016. If I get married soon, do I qualify for a 1031 exchange assuming my future wife never lived in the house? Also, can I buy my next primary residence first and then sell my previous one?
54:38 – Are proceeds received from winning a case in court – say $20 million – taxable? 1:04:07 – I need to increase my income. How should one file with multiple properties?
1:07:45 – What is the process to begin issuing W-2s from my C-corp.? It’s been an active entity for several years, but I’m just now needing to pay a W-2 salary.
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