Tax Strategies: Tax Tuesday with Toby Mathis Ep. 107 – Roth IRAs, Contributions & Distributions

Tax Strategies: Tax Tuesday with Toby Mathis Ep. 107 – Roth IRAs, Contributions & Distributions

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00:10:42.09 – Changing single-member LLC in Texas
to multi-member.

00:13:18.08 – Qualifying for real estate professional status.
The wife is a physician. How will the IRS treat on-call duty hours?

00:17:08.03 – Recapturing start-up costs for training with
Texas LLC – C corp.

00:21:32.09 – Can I hire my kids and offer employee benefits with my management company and LLC? Can the company contribute to their Roth IRA?

00:26:02.09 – What’s my max allowed contribution for 2019 for
Backdoor Roth and what’s the basis of taxation of after-tax dollars?

00:32:31.06 – How can we structure a “Wellness Plan” so doesn’t
become taxable to our employees?

00:36:34.00 – What are my options for claiming deferred losses on
a rental townhouse property owned since 1990?

00:39:40.02 – What portion of unpaid taxes on the sale of single-family house am I liable for if partner and I split profits from sale without regard to federal taxes?

00:43:53.08 – If I claim 50% bonus depreciation on rental property
on my federal income tax return, do I need to add that back
against regular depreciation on an Illinois State return?

00:44:19.04 – What’s the capital gains based on a primary residence
if took tax depreciation for two years but later sold as primary

00:47:16.01 – Is gap lending income passive or active for a 401k?

00:48:59.02 – What’s the rule on funding my HSA, health insurance plan? My business is an LLC taxed as S-Corp, but I’m the only employee.

00:56:19.09 – When holding a rental property in my individual name,
what are my options to transfer title out of my name to an alternative entity to reduce legal exposure. Is there a way to avoid being noncompliant

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Twitter: @TaxWiseToby

Also about: Texas single-member LLC, real estate professional status, business start-up cost, hiring children in the business, backdoor Roth IRA Vanguard, employee wellness programs, rental property loss write off, bonus depreciation real estate, gap lending, hsa health insurance explained

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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