Be in the know before filing your tax forms to avoid big surprises and losses. For fun and educational answers to your tax questions, Toby Mathis and Jeff Webb of Anderson Advisors are willing, able, and ready to help. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
How can I take full advantage of excess depreciation on passive real estate investments? Cost segregation, MACRS, and bonus depreciation through TCJA
What is the best way to set up an Airbnb bu...
Be in the know before filing your tax forms to avoid big surprises and losses. For fun and educational answers to your tax questions, Toby Mathis and Jeff Webb of Anderson Advisors are willing, able, and ready to help. Do you have a tax question? Submit it to taxtuesday@andersonadvisors.
Highlights/Topics:
- How can I take full advantage of excess depreciation on passive real estate investments? Cost segregation, MACRS, and bonus depreciation through TCJA
- What is the best way to set up an Airbnb business that is a solely-owned, single-family house? If average guest’s stay is 7 days or less, pay self-employment tax and take depreciation
- If I sell my personal residence, what’s the best way to use the funds from the sale for a residential assisted living (RAL) startup? Create LLC, obtain inside/outside liability insurance, borrow money, and deduct costs
- I traveled via RV across and outside the country and needed WiFi to conduct business. Can any part of the travel expense be deducted? If travel is more than 50% for leisure, you can’t write off business expenses; otherwise, write off RV, WiFi, mileage, other costs
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Resources:
Pre-order Book Deal: Tax-Wise Business Ownership
Tax Cuts and Jobs Act (TCJA)
Cost Segregation Tax Breaks!
Modified Accelerated Cost Recovery System (MACRS)
Bonus Depreciation
Real Estate Professional Requirements
Passive Activity Losses - Section 469
Unrelated Business Income Tax (UBIT)
Roth IRAs
501(c)(3)
K-1
Workers' Compensation
Schedule A
Health Savings Account (HSA)
Airbnb
Stepped-up Basis
Types of Trusts
Self-Employment Tax
Capital Gains Exclusion/Section 121
Depreciation Recapture
Schedule C
Schedule E
Real Estate Investment Trust (REIT)
1031 Exchange
Kiddie Tax
Form 1099
Home Office Deduction
Opportunity Zones FAQ
Opportunity Zone Heat Map
MileIQ
Section 280A Deduction
Save A Vet With A Pet – 1 Veteran Foundation
Toby Mathis
Anderson Advisors
Anderson Advisors Tax and Asset Protection Event
Tax-Wise Workshop
Tax-Wise 2019 3-in-1 Offer/2fer Tuesday Bulletproof
Anderson Advisors on YouTube
Anderson Advisors on Facebook
Anderson Advisors Podcast
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