How to Set up a LLC for your Home Office | Tax Tuesday

*~ Claim Your FREE 45 minute Investment Strategy Session to receive business planning tips and a clear investment strategy. 👉 aba.link/d92297
How do you set up a LLC or Corporation for Home Office?
7:45
Toby Mathis, Esq. answers these questions along with Jeff Webb, CPA and more during this episode of Tax Tuesday, a bi-weekly FREE LIVE webinar event.
Join us LIVE bi-weekly at 👉aba.link/790fc6
7:45 - How do you set up a LLC or Corporation for Home Office?
13:36 - What should I do now after I made the mistake of starting an LLC in California?
19:19 - Is it advisable to have the house you live in under an LLC?
24:40 - What are the requirements to count visiting out-of-state properties that I own as a deduction? Such as airplane tickets, car rental, hotel, meals, etc. What are the minimum requirements to account it as a tax deduction and not a personal expense?
30:17 - What's the best way to set up a JV partnership when I already own 100% of the LLC used to get the property under contract?
35:40 - How can I become anonymous in my LLC after the fact? I started my own LLC with my name all over it, and 1 year later I am interested in enhancing the corporate shield and getting my name off the record. Is that possible? I have worked hard to build the business credit with the existing entity and would like it to continue.
40:47 - In 2021, we sold my husband's dental practice and will owe substantial capital gains taxes. Is there any possible way to avoid these taxes through real estate investing or?
52:37 - When do I switch from wholesaling under my name to wholesaling as a corporation?
54:30 - How do I then get credit approvals under the business entity?
1:00:00 - Is it more advantageous from a tax savings standpoint to make charitable contributions directly from our corporation, or to pay ourselves and then make the donation from our personal account?
1:06:55 - Can I do a 1031 exchange when I sell an investment home that I have never lived in nor rented out? Is there any other way to avoid capital gains tax other than renting it out? I don’t want to keep the house.
1:10:00 - Who handles the paperwork for a 1031 exchange? The lawyer, the realtor or my tax advisor? How far in advance do I have to plan to undertake an exchange?
1:18:25 - A Florida LLC with members consisting of my wife and 3 of my children made a profit of $65k on a residential flip in March. My wife does not have any taxable income. Would the profit be protected from tax if it was paid out in full to my wife?
1:21:09 - What is more beneficial to claim or to employ dependents? What are the requirements for employing dependents?
🚀 Ready To Take Your Business To The Next Level & Get A Detailed Risk Assessment To Help Protect Your Personal and Business Assets From Lawsuits?
***** Discover Upcoming Events where and learn about the latest Tax, Real Estate, and Stock Strategies
👉 aba.link/allevents
👉👉SUBSCRIBE to my channel
/ @tobymathis
🔊 LISTEN to Anderson Business Advisors Podcast
👉 AndersonAdvisors.com/podcast
VISIT Anderson Business Advisors for solid financial strategies, tips, articles and workshops to help you grow and prosper.
Call: 800.706.4741
Email: info@AndersonAdvisors.com
Website: AndersonAdvisors.com
Facebook: / andersonbusinessadvisors
Twitter: / chooseaba
Instagram: / anderson_advisors
LinkedIn: / anderson-advisors
Blog: andersonadvisors.com/blog
About Anderson Advisors
Anderson Advisors is a business planning and asset preservation consulting firm that provides high-quality services, education and resources to high-networth individuals, families, trusts, real estate investors, stock traders and business owners.
Serving clients since 1997, Anderson Advisors is growing at a phenomenal rate and we owe this success to our people, services and clients.
Disclaimer
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.
#BusinessLicense #taxtuesday #homeoffice

Пікірлер: 37

  • @Alexedmartin.
    @Alexedmartin.9 ай бұрын

    Reducing your tax liability is a smart financial move. It's all about strategic investments and leveraging tax-saving opportunities. I've seen significant benefits by diversifying my portfolio and taking advantage of tax-efficient investment vehicles. It's not about avoiding taxes, but rather optimizing them to maximize your wealth. I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made*

  • @Alexedmartin.

    @Alexedmartin.

    8 ай бұрын

    Investing typically demands a good understanding, and that's where having a financial consultant is invaluable. I've had the privilege of working with Regina Louise Collaro, an investment advisor affiliated with a licensed wealth management firm.

  • @Alexedmartin.

    @Alexedmartin.

    8 ай бұрын

    Her guidance has significantly enhanced my financial situation. She's widely recognized for her expertise, so you might have come across her name. With her support, I've attained financial security and now receive a steady monthly income through her successful passive income approach. I strongly advise considering an experienced investment advisor to boost your financial prospects.

  • @skoopqueen

    @skoopqueen

    8 ай бұрын

    personally, I'm blessed and realizing I'm not the only one working with Regina Louise Collaro. I will consider myself lucky. I've been able to feed and make a living through her advice and great work. For such a person as Regina, I owe her gratitude, support and endless prayers as it is not easy to gain access to such a competent and reliable adviser. Who isn't just wise but has all it takes to handle an investment and is good at what she does.

  • @emeldcentor1474

    @emeldcentor1474

    8 ай бұрын

    ​@@skoopqueenI have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me.

  • @kimbergen897
    @kimbergen897 Жыл бұрын

    Webster, NY

  • @cindyjohnson4378
    @cindyjohnson4378 Жыл бұрын

    Williamsburg IN

  • @victoriaoshea4865
    @victoriaoshea48652 жыл бұрын

    Thank you 😊

  • @freddiemullins3085
    @freddiemullins3085 Жыл бұрын

    Toby I love watching your videos and Clint’s videos you talk more about legacy than Clint my question is on legacy stuff talk about a family office for legacy

  • @TobyMathis

    @TobyMathis

    Жыл бұрын

    We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby

  • @TruckerTip
    @TruckerTip2 жыл бұрын

    Great stuff! Thank you!

  • @donfroth1195
    @donfroth1195 Жыл бұрын

    Rio Rancho, NN

  • @alliesteam9776
    @alliesteam97762 жыл бұрын

    Did you save the recent day webinar ?

  • @TobyMathis
    @TobyMathis2 ай бұрын

    Want answers to your questions about this video? Schedule a complimentary consultation with our experts today! aba.link/d92297

  • @sleddy01
    @sleddy012 жыл бұрын

    Go Phillies! (Clearwater)

  • @Midlife-Changes
    @Midlife-Changes Жыл бұрын

    If I rent out my basement, can I get a cost segregation and depreciate just the basement?

  • @aziznathoo7508
    @aziznathoo75082 жыл бұрын

    The wealth of knowledge and experience these two have amassed and share generously is simply amazing. Anderson Advisors are the very best in the business - bar none

  • @TobyMathis

    @TobyMathis

    2 жыл бұрын

    Thank you for your kind words!

  • @shaunandrews2912
    @shaunandrews2912 Жыл бұрын

    CAN YOU EXPLAIN THE 1099A? CAN i PURCHASE A VEHICLE OR PROPERTY WITH IT?

  • @ediethesalsafreak
    @ediethesalsafreak2 жыл бұрын

    What is a QI?

  • @tarakc8742
    @tarakc87422 жыл бұрын

    So much wealth of knowledge, thank you 🙏

  • @TobyMathis

    @TobyMathis

    2 жыл бұрын

    Our pleasure! We are glad that you enjoyed the content!

  • @emiew2491
    @emiew2491 Жыл бұрын

    Is it true if you sell your house & & within 18 months you use the money & buy another property, will you be relieve with capital gain.

  • @TobyMathis

    @TobyMathis

    Жыл бұрын

    Not as such, however there are a few ways to save on capital gains - 1) if the home is your primary residence then the first $25,000/$500,000 (single/married filing jointly) of your capital gains tax is waived under the 121 exclusion; and 2) if the home is an investment property you might consider a 1031 exchange, where you are allowed to reinvest the funds of the property into a new, similar type of property and defer the capital gains. The time limit for such is much less than 18 months though, you usually have around 45 days from when you sell to identify a new property, and 180 days total to close on the new property.

  • @alliesteamc3546
    @alliesteamc35462 жыл бұрын

    Can your c Corp pay supplemental health insurance for its officers?

  • @TobyMathis

    @TobyMathis

    2 жыл бұрын

    Yes, the C corp allows the most benefits for medical reimbursements.

  • @victoriaoshea4865
    @victoriaoshea48652 жыл бұрын

    Very helpful

  • @alliesteamc3546
    @alliesteamc3546 Жыл бұрын

    Can you explain minimum paperwork requirements for c corp?

  • @alliesteamc3546
    @alliesteamc35462 жыл бұрын

    Isn't better to pay officers' health insurance from a LLC or c corp?

  • @leelowe8482
    @leelowe84822 жыл бұрын

    Where are you located

  • @TobyMathis

    @TobyMathis

    2 жыл бұрын

    We have several locations but we operate in all 50 states, is there something in particular you need?

  • @sreykimsear
    @sreykimsear2 жыл бұрын

    I found this channel to be quite amazing to watch and listen to.

  • @ratitripathi902
    @ratitripathi902 Жыл бұрын

    I really want to get connected with you Mr. Toby. I tried multiple time calling anderson advisors but some how things doesn't make sense the way office explains process to me. I am a small and growing business owner and looking forward to your guidance to structure and file my 2022 taxes. Want someone who can provide me clarity.

  • @TobyMathis

    @TobyMathis

    Жыл бұрын

    We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby

  • @aziznathoo7508
    @aziznathoo75082 жыл бұрын

    The sheer wealth of knowledge and experience these two have and share generously is simply amazing. Thanks, Toby and Jeff - y’all make knowledge less taxing

  • @TobyMathis

    @TobyMathis

    2 жыл бұрын

    Thank you for watching and the kind words!

Келесі