27:16 Can I reduce my W2 taxes by owning rental property?
Thanks for joining us during this special episode of Tax Tuesday! Join us next time by visiting aba.link/4i0
0:00 Intro
5:39 Can you please explain the difference between an LLC, C-Corp, and an S-Corp?
11:36 What is the maximum amount you can contribute to an HSA? Are the limits for contributions for an HSA a monthly or annual amount?
15:24 My accountant thinks I should switch from an S-Corp to Schedule C because my profits are below $80,000-$90,000 dollars annually. The S-Corp is expensive to maintain. What happens if I switch? What is better for retirement and social security?
22:03 Can you convert a personal vehicle into a business vehicle if you use it only for business?
27:16 Can I reduce my W2 taxes by owning rental property?
36:00 I own a C-Corp staffing business. Since Covid, I have been primarily using my home office. My son and I own the home. How can I deduct the expense of my home office?
41:36 Can you discuss the step-by-step process of completing a 1031 exchange?
48:00 Does an HSA function like a Roth IRA in terms of paying unrelated business income tax (UBIT)? If I invest my HSA funds in crowdfunding or syndication will I have to pay UBIT?
53:09 Can I write off a $10,000 loss selling my Bitcoin (bought at $26,000) and buy it right back at $16,000?
55:28 What are the benefits of forming an LLC that is taxed as a C-Corp over a traditional C-Corp?
1:00:31 Would it be beneficial to start a new Airbnb business now or wait until the beginning of the year for tax purposes?
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Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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