14:33 I have sold real estate in 2022. Can I avoid capital gain taxes if I purchase real estate in 2022?
0:00 Intro
6:23 I am thinking about investing in a Bitcoin mining fund. We will take 90% depreciation in the first year. Can I use that loss to offset my gains over the next few years of the fund? Passive loss for passive gain?
Welcome back to another installment of Tax Tuesday! There are a lot of questions to cover in this episode so tune in as Jeff Webb, CPA and Eliot Thomas, JD. break them down.
Join us LIVE on Tax Tuesdays every other Tues 👉
8:40 Our business generated substantial income in 2022 as a single-member LLC. Can I create a new LLC, elect an S Corp status in 2022, then move income from our single-member LLC to a newly created S Corp, and be taxed as an S Corp for 2022?
11:12 Is it true that creating a revocable living trust will raise my capital gains taxes if I sell my primary residence home? If I transfer to my name, I must live in it for 2-5 years to qualify for lower capital taxes?
17:38 I am retired. I want to give a sum of money to my son. How can I advise him regarding deferring taxes on that inheritance money?
22:10 I am on social security (still an entrepreneur, but currently have no significant income beyond social security), and I’m looking to buy a duplex with my business partner’s mother, whose sole source of income is social security. We would each reside separately in the two units.
29:48 I have a $14K tax liability for 2021. Should I open a SEP or SIMPLE IRA to reduce the 2021 tax liability? What else can I do for 2021?
33:11 My LLC bought a fixer-upper in 2021 and sent a 1099 to the contractor who did the repairs. The property is now rented. Does my LLC have to include this 1099 for repairs on 2021 taxes or do we have to wait until the property is sold?
45:27 Can you explain what cost segregation is? How do you apply it when you buy a rental property? What can be used in cost segregation?
40:25 If I rent a property, is it better to declare it as personal income or register an LLC or S Corp? Thanks.
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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
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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. of the information contained herein without seeking professional legal advice.
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Have a rental in escrow.
Don't want to buy another.
How do I avoid or reduce capital gains tax. 64 yrs old want to chill and enjoy my retirement in mexico.
What if I sale my primary residence within the 2 yrs.? Is there a way to minimize the tax rate. My ordinary income was arnd 80k the profit frm the sell is 380k
Talk too fast for me.
Thanks for the information! Please read the Bible and believe in Jesus Christ. He is the reason for anything good in the world. I recommend the book of John.
Is there a way to use the structuring of an llc ownership and operating agreement or use of a limited partnership to turn essentially all profits to passive income?