Podcast appearances and mentions of Jeff Webb

The Cheer Collection is now TCCJewelry.com ! Use code CHEERMOMPOD at checkout for 15% off your order. Apolla socks are changing the cheer game, two feet at a time! Visit apollaperformance.com and use CHEERMOM2024 for 10% off! Read Jeff Webb's letter in its entirety here  Link to the New York Times Magazine Article Jeff Webb's 2004 essay on cheer as a sport Partial transcript of Jeff Webb's 2010 testimony in Federal Court Other sources cited: https://clearinghouse-umich-production.s3.amazonaws.com/media/doc/74743.pdf https://www.nytimes.com/2009/03/15/sports/ncaabasketball/15cheer.html  

In 1949, Newfoundland and Labrador officially joined Canada, becoming the country's youngest province—but not without fierce debate and resistance. In this episode, we explore the unique journey of Newfoundland and Labrador to Confederation, including the two heated referendums that divided the province.We'll hear from Mark Manning, lead singer of the Juno-nominated band Rum Ragged, who shares how Newfoundland's rich culture, storytelling traditions, and music capture the spirit of the island's identity before and after Confederation. Mark discusses the band's commemorative song "1949," written by Amelia Curran, which looks back at Newfoundland and Labrador's history. Then, historian Dr. Jeff Webb of Memorial University walks us through Newfoundland's complex road to Confederation, examining the political and economic factors—and the controversies—that still linger today.To read the episode transcripts in French and English, and to learn more about historic Canadian milestones, please visit thewalrus.ca/canadianheritage.This podcast receives funding from The Government of Canada and is produced by The Walrus Lab.Check out the French counterpart podcast, Voyage dans l'histoire canadienne.--Les chants du rocher : L'entrée de Terre-Neuve-et-Labrador dans la Confédération en 1949Terre-Neuve-et-Labrador est devenue la dernière province canadienne, mais ce parcours n'a pas été sans débats ni résistances. Dans cet épisode de Voyages dans l'histoire canadienne, nous retraçons les événements qui ont conduit Terre-Neuve-et-Labrador à la Confédération, en mettant en lumière les deux référendums tendus qui ont profondément divisé la province. Nous avons le plaisir de discuter avec Mark Manning, le chanteur du groupe folk Rum Ragged, sélectionné aux prix Juno, qui nous raconte comment la culture vibrante de Terre-Neuve, ses récits et sa musique incarnent l'essence de l'identité de ses habitants, avant et après l'adhésion à la Confédération. Mark nous parle également du contexte dans lequel son groupe a enregistré la chanson commémorative « 1949 », écrite par Amelia Curran, un hommage à ce tournant historique. Enfin, l'historien Jeff Webb, de la Memorial University, nous guide à travers le parcours complexe de Terre-Neuve vers la Confédération. Il explore les facteurs politiques et économiques qui ont façonné cette décision capitale, tout en éclairant les controverses qui continuent d'alimenter les débats aujourd'hui.Pour lire les transcriptions des épisodes en français et en anglais, et pour en savoir plus sur les jalons historiques canadiens, veuillez visiter le site thewalrus.ca/canadianheritage.Ce balado reçoit des fonds du gouvernement du Canada et est produit par The Walrus Lab.Découvrez le balado en français, Voyage dans l'histoire canadienne. Hosted on Acast. See acast.com/privacy for more information.

Cheerleading has evolved into a sophisticated, global sport, recognized for its athleticism, artistry, and ability to inspire confidence among youth. In 2021, cheerleading was recognized as an official Olympic sport, underscoring its significance on the international stage. This transformation reflects the efforts of innovators like Jeff Webb, whose leadership and vision turned cheerleading into a billion-dollar industry.What does it take to transform a grassroots sport into an internationally recognized discipline, and what challenges accompany such a monumental shift?In the second episode of this two-part series on DisruptED, hosts Ron J. Stefanski and Ashley Williams sit down with Jeff Webb, the founder of Varsity Spirit and president of the International Cheer Union. Webb delves into the pivotal decisions that led to cheerleading's global growth, its Olympic inclusion, and the entrepreneurial ingenuity that built the industry around it.The main points of conversation:- The Power of Television: How cheerleading competitions were adapted for television audiences, beginning a new era of visibility and growth.- Cross-Marketing Innovations: The integration of camps, uniforms, and competitions into a cohesive business model that fueled the sport's expansion.- Internationalization and Olympic Recognition: Strategies for globalizing cheerleading and navigating the complex processes for International Olympic Committee recognition.Jeff Webb is a transformative figure in the cheerleading industry and a master entrepreneur. As the founder of Varsity Spirit, he revolutionized the sport through camps, competitions, and uniforms. The company sold for $2.5 billion in 2018. Currently, Webb serves as the president of the International Cheer Union, where he has successfully led efforts towards getting cheerleading recognized as an official Olympic sport.

Cheerleading has leapt from the sidelines to center stage, thanks to its transformation into a global athletic powerhouse. With its recent recognition as an Olympic sport, the evolution of cheerleading from school spirit activities to a multi-billion-dollar industry is monumental. Central to this transformation is Jeff Webb, whose groundbreaking vision reshaped the sport and built a business empire. How did a college cheerleader with a dream turn Varsity Spirit into a $2.5 billion enterprise?Welcome to DisruptED. In this episode, host Ron J. Stefanski and guest host Ashley Williams sit down with Jeff Webb, the founder of Varsity Spirit and president of the International Cheer Union, to explore his journey from a law-school-bound student to a pioneer in the evolution of cheerleading. Webb shares how he turned challenges into opportunities, from organizing innovative cheer camps to creating a globally recognized brand.The main points of discussion:- From Law School to Cheer Camps: How Webb's decision to defer law school launched his career in cheerleading, laying the foundation for Varsity Spirit.- Building a Vision: The creation of a modernized, athletic, and entertainment-driven approach to cheerleading that redefined the sport.- Navigating Obstacles and Scaling Innovation: How Webb tackled financial challenges, developed new products like performance uniforms, and expanded into a multi-faceted business empire.Jeff Webb is a master entrepreneur and a visionary in the world of sports branding. He founded Varsity Spirit, the driving force behind the evolution of cheerleading, which sold for $2.5 billion in 2018. Webb also serves as president of the International Cheer Union, where he played a key role in cheerleading's Olympic recognition. With over 40 years of experience, Webb is a sought-after business and politics commentator.

In this episode, Alex Quin and Herman Dolce chat with Jeff Webb, the founder of Varsity Brands, a leading provider of sports uniforms, events, and services for American schools. Jeff shares the remarkable story of how he built a billion-dollar company from humble beginnings, starting with a small instructional clinic for cheerleaders. He delves into the strategic partnerships that played a crucial role in scaling his business, the importance of company culture, and the lessons learned from his extensive experience in leadership and entrepreneurship. Jeff also discusses his ongoing efforts to have cheerleading recognized as an Olympic sport and reflects on the values that have driven his success.Episode Outline[00:00:00] Podcast featuring top entrepreneurs and leaders.[00:03:33] Successful business ventures, partnerships with ESPN.[00:05:50] Strategic partnerships key to success.[00:09:40] Mentorship, financial discipline, and equity inclusion.[00:15:03] Gradual growth, global success, public company.[00:18:43] Focus on digital marketing for control.[00:21:44] Diverse funding, strategic decisions, steady growth.[00:25:12] Culture and staff are key.[00:28:17] Value culture, find purpose, make a difference.[00:32:11] Balancing work and family sacrifices.Wisdom NuggetsThe Power of Strategic Partnerships: Jeff emphasizes the importance of finding partners who complement your strengths and can help you grow. He shares how collaborations with companies like Nike and ESPN were pivotal in Varsity Brands' expansion.Importance of Company Culture: A strong, inclusive culture was essential to Varsity Brands' long-term success. Jeff advocates for transparency, equity, and recognition within the workplace to align everyone's efforts towards a common goal.Adaptability in Business: Jeff discusses how being able to adapt to changes, whether in technology, market conditions, or company size, is crucial for sustained growth and success.Financial Discipline: Jeff highlights the necessity of financial discipline, transparency, and including employees in financial goals to ensure the longevity and success of the business.Long-Term Vision: Rather than focusing on short-term gains, Jeff stresses the importance of being in business for the long haul, creating value, and making a lasting impact.Power Quotes:"If you focus on doing what you do best and find partners who complement what you do, together, you can create something truly remarkable." - Jeff Webb"Culture is not just a mission statement on a wall; it's something you live every day in your organization." - Jeff Webb"The biggest mistake people make is not valuing their staff and failing to give them the incentives to stay and grow with the company." - Jeff WebbMeet Our Guest:Facebook: [https://www.facebook.com/RealJeffWebb/]Linkedin: [https://www.linkedin.com/in/realjeffwebb/]Connect With the Podcast Host Alex Quin:Instagram: [Alex Quin Instagram](https://www.instagram.com/alexquin)Twitter: [Alex Quin Twitter](https://twitter.com/mralexquin)LinkedIn: [Alex Quin LinkedIn](https://www.linkedin.com/in/mralexquin)Website: [Alex Quin Website](https://alexquin.com)TikTok: [Alex Quin TikTok](https://www.tiktok.com/@mralexquin)Our CommunityInstagram: [Hustle Inspires Hustle Instagram](https://www.instagram.com/hustleinspireshustle)Twitter: [Hustle Inspires Hustle Twitter](https://twitter.com/HustleInspires)LinkedIn:[Hustle Inspires Hustle LinkedIn](https://www.linkedin.com/company/hustle-inspires-hustle)Website: [Hustle Inspires Hustle](https://hustleinspireshustle.com)*This page may contain affiliate links or sponsored content. When you click on these links or engage with the sponsored content and make a purchase or take some other action, we may receive a commission or compensation at no additional cost to you. We only promote products or services that we genuinely believe will add value to our readers & listeners.*See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Special guest, Jeff Webb, the founder of UCA and Varsity Spirit, shares his journey from being a high school and college cheerleader to managing NCA and ultimately building his own cheerleading empire. He offers behind-the-scenes stories of founding UCA, overcoming challenges, and witnessing the sport's evolution over the years. The conversation touches on the international growth of cheerleading, the push for Olympic recognition, and the critical focus on safety. Jeff also reflects on the joy he's found in his career and his ongoing passion for advancing the sport globally.

Today, we look at the intricate history and business strategies of Varsity Brands. To the best of my ability, and after months of research, conversations with people in the cheer industry, and a deep dive down some really strange rabbit holes, I'm giving an overview of Varsity's evolution from its inception in Jeff Webb's humble apartment to the billion-dollar business that it is today.  We're going to learn how All Star cheer came into play in all of this, and impactful ways cheer parents can address their concerns - especially when it comes to the high expenses of cheerleading. Wanna jump around? Here are some of the highlights: 05:55 The Origins and History of Cheerleading 08:03 The Rise of Varsity Brands 18:38 The Birth of All-Star Cheerleading 22:30 Varsity's Business Moves and Acquisitions 30:02 Varsity's Market Domination 36:31 Private Equity Influence 41:25 The Controversial Stay-to-Play Policy 50:48 The Role of Gym Owners and Parents   Visit TheCheerCollection.com and enter code: POD15 for 15% off your purchase. Your perfect style awaits, with Slick Hair Company! Visit slickhaircompany.com/thecheermomblog and use code THECHEERMOMBLOG for 10% off!

This episode is Part 1 is a series about the rise of Varsity as a dominant force in the cheer industry. In order to understand how Varsity became Varsity, we have to start at the very beginning: a very good place to start, according to Dame Julie Andrews and her friends, Rogers and Hammerstein.  Cheer started in the 1800s, but it looked very different from what it does today, including the little detail that women weren't even included on cheer teams. But two key figures took cheer to the next level: one in 1948, and the other - his protegee - in 1974. Their names are Lawrence Herkimer and Jeff Webb, respectively. Kristen also covers fun trivia, like the first cheer uniform, the origin of the spirit stick, and how color television prompted the invention of the pom-pom.  Wanna jump around? Here are some highlights: 10:41 History of Cheerleading: The Early Years 15:12 Lawrence Herkimer: The Father of Cheerleading 30:33 Jeff Webb and the Birth of Varsity   Visit TheCheerCollection.com and enter code: POD15 for 15% off your purchase. Your perfect style awaits, with Slick Hair Company! Visit slickhaircompany.com/thecheermomblog and use code THECHEERMOMBLOG for 10% off!

What happens when you mix Main St perception with Wall St economic and policy discussion? You get a rollercoaster episode that's as gripping as it is enlightening! In our latest “At the Corner of Main St and Wall St” episode, I dive deep into the compelling and vexing Shrinking Middle Class Crisis. Alongside recurring guests John Aidan Byrne and Mat Van Alystne and special guest, Jeff Webb, we tackle the perplexing disconnect between a rosy national economic picture and the less positive perceptions of the middle class and lower income Americans. From the challenges faced by working families living paycheck to paycheck to aspiring entrepreneurs attempting to navigate the bureaucracy of business, this episode is packed with insights that you won't want to miss. Here are just a few of the compelling takeaways: **Inflation's Invisible Punch:** Inflation might seem like an abstract concept, but it's hitting hard. Many Americans find themselves living paycheck to paycheck, a stark contrast to the booming stock market. **Navigating the Wealth Gap:** The wealth gap's widening, escalating social tensions and potentially destabilizing the middle class. It's about more than money—it's affecting the very fabric of society. **Interest Rates Hit Home:** The middle class is feeling the squeeze more than ever. Those rising interest rates? They don't just affect loans—they ripple through everything from rent to groceries.  **Red Tape Roadblocks:** Aspiring entrepreneurs, brace yourselves—it's not just about your great idea. Navigating the sea of regulations can be the real beast, especially if you're scaling up. **Generational Wealth Transfer and Gaps:** Millennials and Gen Z often feel like they're playing an unwinnable game. Is this the first time in modern history that the transfer of wealth is from younger to older generations or will today's youth be the recipients of massive generational wealth.  **Tariffs: Double-Edged Sword:** The strategic use of tariffs can protect domestic businesses. But watch out—mishandling them could backfire, leading to economic headaches. **Big Government vs. Small Business:** The cozy relationship between big business and big government? It doesn't exactly help the little guys. Small businesses need a more level playing field to thrive. ** Fun Fact from the Episode:** Did you know? Cheerleading may soon have a shot at making an Olympic debut, thanks to dynamic advocates like Jeff Webb who are pushing boundaries beyond just pom-poms and spirit chants! Ready to dive deeper? Be Part of the Conversation. Tune in now! And … don't forget to check out Jeff Webb's book, "American Restoration: How to Unshackle The Great Middle Class," for more stimulating perspectives! Click Here. Additional Resources: How Ameica's Middle Class is Shrinking State of the American Middle Class About this month's guests: Mat Van Alstyne: Co-Founder and Managing Partner of Odeon Capital Group, a leading full service boutique broker dealer to institutional clients. Many of you know Mat from his commentary and outlook on the highly rated Odeon Capital Conversations Podcast, which will return soon for another season.  John Aidan Byrne: Veteran Wall Street business journalist, editor, filmmaker, and successful podcast host of Odeon Capital Conversations and Dig Life Deep! John/s newest ventures are two movie projects, one on the legendary life of a Wall Street CEO and scholar and the other on Norman Rockwell.   Jeff Webb: Acclaimed business entrepreneur, CEO of Human Events Media Group, which includes digital platforms The Post Millennial and Human Events, Founder of Varsity Spirit, and President of the International Cheer Union. Widely recognized as the father of modern cheerleading, Webb revolutionized the sport by establishing Varsity Spirit, which has become a global leader in cheerleading. He is also the author of the Amazon bestselling book American Restoration: How to Unshackle the Great Middle Class.

Countless Democrat pundits are calling for the party to yank Joe Bide, get rid of Kamala, and run a different candidate who has a shot at winning. But Chris Bedford of The Blaze joins to explain that a combination of legal and political factors mean that Kamala is probably the party's only option if Biden quits. Bedford also talks about a worrying move to remove pro-life planks from the Republican platform. Jeff Webb of Human Events reacts to the Dems' attempted post-debate spin.Support the show: http://www.charliekirk.com/supportSee omnystudio.com/listener for privacy information.

Countless Democrat pundits are calling for the party to yank Joe Biden, get rid of Kamala, and run a different candidate who has a shot at winning. But Chris Bedford of The Blaze joins to explain that a combination of legal and political factors mean that Kamala is probably the party's only option if Biden quits. Bedford also talks about a worrying move to remove pro-life planks from the Republican platform. Jeff Webb of Human Events reacts to the Dems' attempted post-debate spin.Support the show: http://www.charliekirk.com/supportSee omnystudio.com/listener for privacy information.

The war in Iraq ended years ago, but it's still being fought in exactly one place: The Deep State, with its endless war against Julian Assange. Assange's brother Gabriel Shipton joins to discuss the latest efforts to protect Julian from extradition, as well as rumors in the press that the government might be considering a plea deal to finally bring the 15-year saga to a close. Plus, Human Events publisher and businessman Jeff Webb discusses how open borders poses an existential threat to the traits that made America such an economic superpower. Become a member at members.charliekirk.com!Support the show: http://www.charliekirk.com/supportSee omnystudio.com/listener for privacy information.

Jeff Webb, U.S. Naval Academy Class of 1995, is President and CEO of the U.S. Naval Academy Alumni Association & Foundation. Prior to assuming this role, Jeff spent 15 years in the wealth management industry. In his most recent position as a Principal with Bessemer Trust, he led new client development efforts in a four-state region. Before joining Bessemer, he served in a similar capacity with J.P. Morgan. He previously served as a vice president of Business Development for a renewable fuel company and was the general manager of a group of luxury automotive franchises in Virginia. Jeff spent five years in Naval Special Warfare. He served as a SEAL Platoon Commander as well as a Task Unit Assistant at SEAL Team Eight. He deployed twice aboard EISENHOWER in those roles and operated in Europe and the Middle East. He served as an Assistant SEAL Platoon Commander at SEAL Team Four, where he deployed to Latin America. Jeff co-founded Run to Honor, a nonprofit dedicated to perpetuating the memory of Naval Academy alumni lost in combat or training operations. He was an elected trustee of the Naval Academy Alumni Association (2011-17) and served on the Naval Academy Superintendent's Memorial Oversight Committee (2010-22). He also served as a director of Students Run Philly Style, a nonprofit that trains and mentors high-risk high school youth through the completion of endurance running events. Jeff earned a B.S. in Ocean Engineering from the Naval Academy, where he was captain of the cycling team. He later earned an M.B.A. from the University of Virginia. He is married to Shannon Revell Webb, a 2004 Naval Academy graduate and a former EOD Officer. They have four children, all named in honor of Naval Academy graduates. The Webb family resides in Annapolis.

The war in Iraq ended years ago, but it's still being fought in exactly one place: The Deep State, with its endless war against Julian Assange. Assange's brother Gabriel Shipton joins to discuss the latest efforts to protect Julian from extradition, as well as rumors in the press that the government might be considering a plea deal to finally bring the 15-year saga to a close. Plus, Human Events publisher and businessman Jeff Webb discusses how open borders poses an existential threat to the traits that made America such an economic superpower. Become a member at members.charliekirk.com!Support the show: http://www.charliekirk.com/supportSee omnystudio.com/listener for privacy information.

In this transformative episode of Founders Story, we dive into the extraordinary life of Jeff Webb, not just as the founder of Varsity Spirit but as a luminary who modernized cheerleading and elevated it to an international sport. Webb, an acclaimed entrepreneur and the President of the International Cheer Union, shares his journey from igniting a global cheerleading movement to redefining the sport's very foundation and creating a billion dollar company along the way. Jeff Webb's story is a masterclass in innovation, leadership, and global influence. Subscribe to our newsletter so you don't miss out on exclusive interviews and special content: https://foundersstory.beehiiv.com/subscribe For more info on guests and future episodes visit pix11.com/impact and https://fox5sandiego.com/fox-5-partners/impactful/

Spencer Groessl and Jeff Webb join the podcast to the speak about the Evans Scholars Foundation and their caddie program that is in place at a few IGA member clubs around the state and those that are starting one this year! It's exciting times ahead for sure with this program in the state of Iowa. As background, the Western Golf Association promotes the use of youth caddies and supports the Evans Scholars Foundation's efforts to award full tuition and housing college scholarships, now at the University of Iowa, to high-achieving caddies with limited financial means.

Jeff Webb served in the Scotland, Edinburgh Mission from April of 2002 through April of 2004. As a convert to the church, he came to Scotland feeling overwhelmed with the pace of the work, but soon found his groove. He loved his companions, learned how to communicate through with the spirit, and survived rock fights with N.E.D.S. Jeff is proud he was able to serve in Scotland and loved his experiences there. Jeff currently live in Creston, British Columbia, Canada. He has 3 children from his former marriage. Recorded January 24, 2024

Howie welcomes Jeff Webb of Human Events and the Post Millennial to the show to discuss the results of the New Hampshire primary. Webb agrees with much of America when he says the only reason Nikki Haley might be sticking around is that she thinks President Trump could be disqualified somehow. Otherwise, she is only hurting potential GOP unity.

Ever wonder how cryptocurrencies and real estate investments play together in the sandbox of taxation? Or how to pay your family members through your business in a way that could benefit everyone's wallet? We've got answers to these questions and more. Welcome to another episode of Tax Tuesday, where tax experts Toby Mathis, Esq., and returning guest Jeff Webb, CPA, and CFO of Anderson Business Advisors share their expert advice. This episode delves into the nuances of crypto transactions and the impact on your tax bill, along with a deep dive into payroll complexities that could save you a headache—or better yet, a hefty fine. Plus, we discuss why paying children through your business isn't just a clever maneuver; it's a strategic move that could pave the way to a tax-free goldmine. Submit your tax question to taxtuesday@andersonadvisors, and check out our new “knowledge room” available to Platinum members, from 9a-2p daily. Highlights/Topics: I owned a condo for the last 28 years and depreciated it down to zero. In January this year I sold the condo to the renter and installment sale. For the next 10 years, I'll receive monthly payments, with a balloon payment at the end of 10 years. My question is as follows Do I have to recapture the depreciation and pay tax on it? Am I too late to do a 1031 exchange at this time? - If you've already sold it, it's too late. 1031s do not work well with installment plans. What would be the best way to sell a small business and limit as much as possible the tax implications? - a stock sale is best, but almost no one will go for that…. When are crypto earnings taxed?- When you sell it, you pay capital gains tax on the difference between your buy and sell. What activities classify for the 750 hours? Does training, traveling, searching for properties? - It's going to be real estate activities in your real estate business. Training, traveling, and searching for properties is “investor” activity I self-manage a single short-term rental that I own. I want to pay my kid, who is 16 years old, for doing legit work for the Airbnb at a reasonable rate. Do I just write them a check every month based on the hours they log, or do I have to hire a payroll company to issue them a check? I do not have any other employees. If I don't hire a payroll company, how do I issue them a W2 form? - you really should hire a payroll company, if you 1099 them, they will have to pay tax. I'm planning to start lending money to real estate investors. Other private money lenders I know do their lending businesses through an S-Corp. I currently don't have an LLC or an S-Corp for lending. I have a Wyoming Hold LLC that I opened to use for real estate investing. Which would you advise is best for private money lender an LLC, an S-Corp, any other, and why? - Do not do it through your Wyoming LLC. I like the S corporation rather than the LLC… I have a 50-50 partnership with a friend and we own two short-term rentals together. Each of us is maturely participating in one short-term rental each. Is there a way to take full cost-seg advantage against our respective W-2s or can we only take 50% of one property against your W-2 and the other person? It will go to the passive bucket and vice versa for the other property. - Couldn't we both get that deduction? Yeah, you probably could if we go back to the aspect that it's a trade or business I am a W-2 earner. Can I save taxes if I buy a long-term rental? - Probably not. Probably not at this time. Unless you're a real estate agent. I'm getting a lot of pushback against cost segregation from my accountants. They say that it could trigger personal property issues in Maryland and that the cost of the study is prohibitive. - So what? The personal property taxes and most states is based on The Advalorium they call it. It's based on the current value. They usually have depreciation schedules of their own and it's not that much property tax. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=aba&utm_medium=podcast&utm_content=when-are-crypto-earnings-taxed Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq Clint Coons Youtube https://www.youtube.com/@ClintCoons  

Welcome to our last Tax Tuesday for 2023, where tax experts Eliot Thomas, Esq., Manager of Tax Advisors at Anderson, and returning guest Jeff Webb, CPA, CFO of Anderson Business Advisors share their expert advice on topics like crypto taxes, reimbursement for moving expenses if you're in the military, and investing in real estate with your IRA. You'll hear how to protect yourself when flipping houses, by creating the right kind of entity to hold those properties. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: "How can training costs including travel be tax deductible? If we got some costs regarding starting up our corporation, maybe some education or something like that, can we deduct it? If so, how?" - training costs can be deductible in certain cases. "We've been engaged two years. I want to get married in July of 2024. I make $85,000 a year, and he makes $120,000 with W-2 jobs. I'm wanting to become a real estate professional next year and make income from my for-rentals. Am I able to keep more of his income if we file jointly after we're married? What type of strategy would help him keep more of his money?" - There's a lot that can be done here - retirement plans, S-corp, hiring your spouse, etc. "Once the purchase of a property is finalized, should cost seg study process be started immediately after? And can you double dip the cost segregation process, meaning before and after upgrades/repairs?" - If I am not a real estate professional. If I do a cost seg, I might just be creating a giant passive loss that I can't use… "Does depreciation taken from a syndication have to be paid back when the property is sold?" - You will receive a K-1 from the partnership that is a syndication, and it will show your gain on the property. Yes, you're going to have to recapture. "Are there advantages of investing in trading securities, stocks, bonds, commodities, futures, et cetera, in an entity account rather than in an individual account? Any kind of benefits, maybe setting up certain structures for that?" – There is, and it primarily comes from income shifting. "How do we do real estate investing if we have an IRA fund?" - You can invest, but you cannot be involved in any way in the running of that property "When are crypto earnings taxed?" - It depends on where the income is coming from. "As a member of the armed forces, are my travel expenses from overseas location back to my property location stateside tax deductible? If we're doing some traveling there, we're in the armed forces, what can we do as far as any deductions if possible?" - If you have overseas travel on a change station, make sure you're seeing an accountant to do your taxes that knows what the heck he's talking about and what you're doing. "Is it better to have a separate entity for flipping, such as an LLC or corporation, or should I report it as an individual?" - do not flip in your own name. There's plenty that can go wrong… "I am a new real estate agent. Does the time I spend searching for a property in my local market, including travel time, and my family count towards the 750 hours needed to qualify for rep status, even if we end up not buying the property this year?" - first of all, we can't use travel time usually as far as rep status. "Is it possible, feasible, or legal to incorporate yourself and transfer all your assets to the new company while also deducting expenses used to support the new business, in other words, yourself?" - No, you can't make your personal expenses into business expenses. The real answer is just a flat-out no. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=aba&utm_medium=podcast&utm_content=how-to-select-the-best-entity-for-flipping-houses Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq Clint Coons Youtube https://www.youtube.com/@ClintCoons  

Welcome to another episode of Tax Tuesday, where tax experts Toby Mathis, Esq., and returning guest Jeff Webb, CPA, CFO of Anderson Business Advisors share their expert advice on writing off business expenses, end-of-the-year options for saving on tax deductions, inquiries about organizational vs. startup expenses, and how to borrow from your life insurance policy to invest in real estate. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: All my LLCs are disregarded…. I'm in the process of setting up…What are some of the write-offs for 2023? - You normally can't write off until the business has begun operating, but the cost of setting up, you can grab that, but you have to have income to benefit from those write offs. Can I 1031 a long-term rental single-family residential.. into short-term AirBnB rental.. Then do a cost seg? - Yes, but there's a timing issue…the long-term rental cannot extend into the next/same year. How do I write off biz expenses before the bix makes money? - There are ‘organizational' and ‘startup' expenses that you can write off, of $5K each….but it also ‘depends' If we are flipping a home within 6 months, can we write off depreciation, closing costs etc.? - The home is considered ‘inventory'..if you bought it with intent to sell, no matter how long you own it, it is ‘dealer property' My husband owns and operates an electrical business… if a client doesn't pay, is it considered a loss? Is it tax deductible? - You don't recognize income until it is paid to you. You can only write off expenses. Please discuss pros and cons of borrowing from my life insurance to purchase real estate? Is any of the interest tax deductible? – The interest on the property is deductible. Different policies have different ways of accounting for the loan. I don't see a lot of ‘cons'. How do I offset passive losses other than increasing rents and paying off debt?.. What can I do before the end of the year so I can use this year's taxes? At this time of year, there's very little you can do, you only get the portion from now until the end of the year. I am a licensed contractor working part-time as a salaried employee… am I a real estate professional for tax purposes? - Yes… if you're the owner, and you have 750+ hours working in the real estate business… more than 50% of your time. Can I create a 401k for my real estate biz? Will this affect my employer's 401k- Yes, but you can only contribute the total amount allowed by the individual by the IRS. You have to have an ‘active' business, not passive income. Is there an age limit for hiring our kids? We have 6 and 13-year-olds. - Yes, but you have to have them working on actual tasks to be paid. Sweeping, modeling, acting, etc. What is the market value of those tasks? Labor laws don't apply - you can put YOUR OWN kids to work, and pay them, at any age. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq Clint Coons Youtube https://www.youtube.com/@ClintCoons  

Author of "Dark Aeon" Joe Allen comes on to discuss the dangers of transhumanism. Next, Jeff Webb author of "American Restoration" breaks down President Trump calling on the RNC to revamp their presidential debates. Then, author of "Reputation Shift" Mike Mooney provides some tips to maintain your reputation. Finally, we take your calls in open phones across America. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Shawn took us back to the 80s again to discuss John Carpenter's Big Trouble in Little China - and we got comedian Jeff Webb, college friend and friend of the pod to help out! We talk bath salts, Kurt Russell being the most heterosexual man to ever exist, and the subversive hero/sidekick dynamic with Jack and Wang! We also bring up the Asian community's response to the film, White savior characterizations, and the genius of trap elevators! Twitter/BlueSky/Insta: @triplemmmpod Twitter/BlueSky/Letterboxd: @justhappy2cu, @murphthesmurph Email: menwholikemenwholikemoviespod@gmail.com If you're enjoying the pod, take a couple seconds to give us a rate/review - it helps out SO much! Don't forget to be kind out there! --- Support this podcast: https://podcasters.spotify.com/pod/show/men-who-like-men-who-like-movies/support

Howie welcomes Jeff Webb, publisher and senior news editor of Human Events, to the show. The duo talk the 2024 campaign season, from debates to grassroots appearances. Then, Howie shares the damning story about Pete Buttigieg's pal who just got busted on child pornography. The Secretary of Transportation could not be reached for comment.

In today's Tax Tuesday episode, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, CPA, the CFO of Anderson Business Advisors, discuss some interesting tax questions including questions around gifting your home or property to your children while you're still alive (tip: don't do it), passive vs. active income on rental properties, and how/when you're able to use a loan from your investment accounts to purchase real estate. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: "Could I still qualify for the Qualified Business Income Deduction for rental activities even if they do not have the real estate professional status?" – Qualified Business Income Deduction, 199A. Could you still qualify for QBI for rental activities even if you don't have real estate professional status? The answer is yes. "I have a question about incurring expenses and paying them with my personal credit card. How do I recoup that money that was used for my business but charged to my personal credit card? My LLC is less than a year old." The simple answer is yes, you can pay for stuff with a personal credit card and deduct it in your entity. "Suppose a Florida LLC has a piece of land bought three years ago and hired a construction company to build a single house when the house is sold." Can I allocate part of the profit to the sale of the land, long-term capital gain, and the other part to ordinary income?" - You've now converted it into inventory that you're selling, so no. As a matter of fact, it doesn't play off against ordinary income, it is ordinary income. The entire sale of this property is ordinary income. "How do I use my 401(k) or IRA to invest in real estate?" - If it's an IRA, you need a self-directed IRA, where you're pretty much the custodian. "My husband's father wants to sign his house over to us. My husband's sister also owns 65% of the property." What tax advantages are there for us, his dad, and his sister? And what tax issues does it raise for us? Should we start an LLC or some other structures?" - I'm not a fan of signing over a principal residence to my children. If Dad gives it to you before he passes, he just made it all taxable. "What is the best way to use funds from my S-corp to pay taxes? Since the corporation taxes flow through to my personal taxes, I understand I need to pay my personal taxes for my personal account, but the money is really in the business account. Can I use a distribution? And is there a dollar amount limit for such a transaction?" – if you're profitable and distributing money, you really need to pay some kind of salary. "If I elect to aggregate rental properties into one activity, for example, managing, operating single-family homes as rentals and limited partnership interest in a multi-family syndication. What happens if years down the road, one of the assets is sold from the aggregate group? What are the tax and legal implications?" - If I sell a property that I've aggregated with other properties, just treat it like any other sale of property. "Is it tax-wise to pass on single-family rental home properties before my death to my kids? We have plenty of income, and passing on a few of them to our two kids might even lower our tax bracket. Each rental property is in a separate LLC, and we've owned them for 7–8 years now." - Based on the way we answered the previous question about gifting, I think it's a bad idea, especially if you had it for seven or eight years. "If I elect to aggregate rental properties into one activity, for example, managing, operating single family homes as rentals, limited partnership interest in a multifamily syndication, and electing all of my investment real estate as one activity,” which you can do, it's called an aggregation election, “what happens if years down the road, one of the assets is sold from the aggregate group? What are the tax and legal implications?" - you wouldn't aggregate into those circumstances. If you're going to be selling it soon, but you don't lose the loss carry forward, you use it against passive income. "We have two newly opened short-term rental Airbnbs. We want to do cost segregation and do bonus depreciation for the 2023 tax year. We're logging our time for the 500 hours rule. I heard that a small business should be taxed as S-corps to save on self-employment taxes, but others say don't put Airbnbs in an S-corp because they're passive. What to believe?" - Short-term rentals are a trade or business. If you are materially participating in them, then it's active ordinary income or loss. Send us your questions, and check out the event schedule listed in the resources section. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=aba&utm_medium=podcast&utm_content=how-to-use-your-401k-or-ira-to-invest-in-real-estate Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq  

In today's Tax Tuesday episode, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, CPA, CFO of Anderson Business Advisors, discuss the usual mix of complex and simple tax questions including questions around paying minor children through your LLC, gifting vs. inheriting property, structuring your stock trading business, and how and when to use cost segregation to get the biggest tax benefits. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: “When dissolving a C-Corporation with a single share holder and having a net operating loss, does the loss go on the shareholder's personal return and can the loss be offset against personal income?” No, because that C-Corporation is its own entity. However you probaby finance some of those losses. Anything that you invest in the company that you don't get back will be a capital loss to you. “I jointly-own an inherited property that is currently on the market. Can the expenses that I have (utilities, staging, maintenance, repair, taxes) be added to the cost value?” It depends on how the property is being used once you inherit it. “Can I deduct expenses for working at home and what forms can I use?” That depends. If you're an employee, then no deduction anymore for employee work expenses. “My wife's father wants to sign his house over to us and her brother.  What tax advantage is that to her dad? And what tax issues does it raise for us? Should we start an LLC or some other structure?” No tax advantages for Dad. When dad transfers the property over, it's a gift. And when you give an appreciated asset you receive the basis of the gifter. If it is an investment, it is best to start an LLC. “When you have a C-Corp (no income at this point, a Wyoming LLC that owns two LLCs with rentals), which entity pays for general expenses like memberships, cell phones, internet, education, etc?” When you have an LLC with rental (C-Corp), then you pay the C-Corp and management fee. The C-Corp then covers all the expenses. “How does paying for your child (under 18) help with taxes, if any?” If under 18 through LLCs, there is no employment tax. “Can you benefit from cost segregation at any time?” The longer you wait, there's nothing left to depreciate. A tiny benefit, if any. “Need to move from sole proprietorship to some form of business entity. [...] C-corp? Something else?” Jeff is not a fan – there's a lot of landmines out there. If you're doing well, you want the capital gains. Put your cash in an LLC with an 80/20 split. Watch how to structure a trading business! “I currently own a home in one state (Oregon) and I am looking to purchase an investment property in another state and plan to do so using an LLC or an S-Corp. [...] What would be the easiest way to go about this?” Do not own in an S-Corp! Buy the AZ property in a land trust and LLC.  Have someone guide you through this process “If I invested $30,000 in a marketing class to start a marketing company, do I have to amortize it over 15 years to see any of it back? Can it be a business investment and get it all back?” The only ones that can do this are C-Corps. “Is 1245 property subject to depreciation recapture if the rental property is sold with capital gain?” Gain is subject to recapture. You're going to pay ordinary income tax. Send us your questions, and check out the event schedule listed in the resources section. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq    

On today's Tax Tuesday, host Troy Butler, Senior Manager of Bookkeeping at Anderson, speaks with Jeff Webb, CPA, Vice-President of Professional Services at Anderson about some timely tax questions around deductions and payroll. The discussion also addresses some detailed information around bookkeeping including services offered by Anderson, and other apps and software that are best for certain situations. Submit your tax questions to taxtuesday@andersonadvisors. Highlights/Topics: "How do you write-off classes or courses, cars, equipment, or anything in general? What is the process? What do you keep? How do you show your proof of funds spent?" In a C-corp, you're allowed to take education for new lines of business. Other entity types, you're only allowed to deduct education for business tha you're already doing. "What's the best way to get payroll started? I want to start with hiring a couple of part time employees." - I highly recommend using a third-party for payroll. I don't recommend that you do it yourself, unless you have a full-time dedicated bookkeeper that this is their job. "Can I deduct expenses for working from home, and what forms can I use?" - What we recommend, typically, is that if you have an entity such as a corporation or even a partnership, you do administrative home reimbursement. "What's the best way to record startup expenses incurred on your private accounts?" There's a lot to read there, so we'll go on to the next one. - Startup costs, organizational costs are actually intangible assets, and those intangible assets get amortized. "Which bookkeeping app would you recommend for four units or less landlords to make our tax preparation easier for all of us?" - QuickBooks is always good. I like QuickBooks Online. "Can we discuss how our bookkeeping service works?" I can do that pretty well. "We're drowning in Excel and Quicken." - We have several different services we offer here at Anderson. The flagship one is called full service bookkeeping, and that's where we're going to do your books on a monthly basis. "What are common expense categories I should use?" - There are lots and lots of templates of charts of accounts out there that can give you a good baseline. For our Platinum members, we offer some generalized templates. "Can I discuss some big picture strategies to help with bookkeeping automation/AI?" “We have a physician set up their PLLC in New York State. Do I need to set up payroll, give myself W2? How much do they pay themselves to avoid an IRS audit? What's the bookkeeping needed? How do I take the remaining money out as a distribution?" That's seven questions in one. They're getting their money's worth out of that one. “What are the minimum requirements to do so and suggested curiosity of tasking?" – If you have a ton of activity, and a week's worth of transactions takes you four hours to do, then you probably shouldn't wait a whole lot of time to do your bookkeeping. At the minimum, I would recommend doing your books quarterly. "If our business is still paying off business debt from previous tax years, how do we account for that as far as bookkeeping and reporting?” - If you take out a loan, and you're making payments against that loan, those loan payments aren't expenses, except for the interest on that loan. “How does the bookkeeping service integrate with the accounting service?" – If you're using us for bookkeeping and using us for tax, we will coordinate your tax return with your tax preparer. Your bookkeeping team will work with your client tax coordinators/tax preparer Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=aba&utm_medium=podcast&utm_content=how-to-write-off-general-business-expenses Anderson Advisors https://andersonadvisors.com/

On today's Tax Tuesday, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, Esq., CFO of Anderson Business Advisors, share their expert advice on tax strategies associated with setting up a home office, the potential consequences of being classified as a real estate dealer instead of investor, and how the IRS can view real estate flips as inventory and treat you as a dealer, leading to self-employment tax and other repercussions. Listeners are also guided through minimizing stock gains as a day trader and understanding rental property ownership. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: What are the requirements for bonus depreciation? - Bonus depreciation applies to tangible personal property with a depreciation life of 20 years or less. Can I 1031 exchange the entire proceed from the sale of a property with two structures, one rented and one as a main house? - Yes, you can 1031 exchange the rental portion, and possibly the entire property if it is converted into a rental before sale. Can I still invest in the 2022 tax year such as starting a solo 401K if I extended my tax return filing to October 2023? - Yes, you can make retirement contributions for 2022 up until your tax return deadline, including extensions. What are the benefits of an S corporation status for a small business owner versus sole proprietorship or LLC? - S-Corp can provide tax savings through reduced self-employment taxes, and may have lower audit rates than sole proprietorships. Can first-year business expenses be carried forward to the following year if there is no income in the setup year? - Yes, you can carry forward business losses to offset future income. Can I have a home office deduction if I rent the property? - Yes, renters can take a home office deduction if they meet certain requirements. How can I minimize day trading stock taxes? - Strategies include careful risk management, using tax-advantaged accounts, and offsetting gains with losses. Can I deduct expenses from my LLC registered as a partnership for fix and flip houses? - Yes, expenses related to the business operation can generally be deducted, though there may be limitations. Are all expenses related to the purchase and rehab of a rental property included in the basis for depreciation? - Yes, purchase price and most rehab expenses are included in the depreciable basis of a rental property. What's the best way to minimize the loss of passive losses on rental activities due to the AGI phase-out? - Carry forward passive losses until passive income is earned, become a real estate professional, or dispose of the activity. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=aba&utm_medium=podcast&utm_content=how-day-traders-can-reduce-taxes-legally Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq  

In this 201st episode, Eliot Thomas, Esq., hosts, along with Jeff Webb, CPA, Vice-President of Professional Services at Anderson Business Advisors. The looming filing deadlines in September and October are almost here, but we've still got our experts online to help answer your questions. In this episode, you'll hear answers to questions about HELOCs, when to take social security, the Augusta rule, bad debt, and legacy planning tools, to name a few. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: “What's the best structure for a management company? C-corporation or partnership? Also, if you were not concerned with obtaining loans, is it more advantageous to have a holding company as an S-corp or a partnership?” – My rec is C Corp, not partnership, the downside is creating passive deductions and income at the same time…and anytime you take those properties back out, and sometimes you have to do that to refinance, that's a taxable transaction. “I have a HELOC on a rental property. I used the funds from it as a gift for a down payment on a home purchase for a family member. Can I use the HELOC interest payments as part of an expense for the rental property?” - You shouldn't be gifting money from your HELOC. Can you take money out? Yes, but it's a distribution; it's not a gift. “I'm getting ready to retire in three years. I own a small business that's a sole proprietorship. As a single proprietor, when I receive social security, will this show up as personal income?” - What you don't want to do is start taking social security before your full retirement age while still earning money from a wage or from self-employment. “Can you use the administrative office and Augusta rule deduction? Or is that considered double dipping when purchasing a property? - commonly referred to as 280A. That's the corporate meetings. You can rent your house out for 14 days a calendar year—no more—and the income that you receive is tax-free. How does bonus depreciation affect a present tax bill for back taxes owed to the IRS? So if we took bonus depreciation in the current year without [...] with the prior liability I have with the IRS.” - IRS will keep taking your refunds before they ever touch your bank accounts until they have that back liability paid up. “We made a $5000 business loan. The business shut their doors. How do we document this bad debt? Is it bad debt loss or is it a tax write-off?” - Yes, it is a write-off, but the question is, how do you write off… “Is a charitable remainder trust a good legacy and tax planning tool?” - I like the CRUT (Charitable Remainder Unitrust). It's considered a split-interest trust. The tax returns are very complicated. Don't ever, ever, ever try to prepare one yourself. “I bought a house last year with the intention of renting it out. I bought rental property insurance and never lived in it. It was so expensive to repair everything that I sold it before I could rent it. Can I still deduct my expenses on my taxes? I read that there has to be income to be deductible, and I didn't get it to a space where it was rentable. Please help. I wasted a lot of money on this house.” –Your intention was to rent. The more you can have to substantiate that intention, the better off you are…But yes, you would write it off as a capital gain or loss… “Could you please explain what basis is? I recently became an S-corporation after 12 years as a sole prop. I can take out tax-free my equity injection of money I put in to start the new S-corp, and the inventory that I basically carried over from my sole prop days into the new S-corp. We have no debt on the S-corp, other than the inventory and cash injection. It owes me back.” - Basis typically is your cost…it could be your entity, it could be a property, it could be any kind of asset. “Can an LLC taxed as a partnership write off travel and other expenses to intend to invest in seminars such as Alpine CFS, where one would look at several properties, perhaps commit to purchase? - Basically the code says you cannot deduct the expense of any education that is helping you to do something new, that you didn't do previously. Check out our events coming up later this month. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=aba&utm_medium=podcast&utm_content=the-right-structure-for-a-management-company Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis    

We've reached quite a milestone - our 200th episode! For today's Tax Tuesday, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, Esq., CFO of Anderson Business Advisors share their expert advice on tax strategies and navigating economic uncertainties, with a focus on rental property and financial diversification. You'll hear about the complexities of non-recourse loans and taxation, myths and strategies for day traders, taxes on land flips, the best time to do a cost seg, and more. Three lucky listeners will receive copies of our ebook in the episode. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: Is there a minimum net income where it would be beneficial for a single-member LLC to file as an S corp rather than a disregarded entity? - It depends on individual circumstances, but if your income is quite low, you may be able to save a bit if you file as an S-corp. Can my rental income be directed into a self-directed IRA and what are the advantages to doing that? - Yes, rental income can be directed into a self-directed IRA which offers several tax advantages. I don't understand the difference between owning rentals as a real estate professional (REP) or non-REP. And what, if any, disadvantages are there when buying a rental inside a Solo 401k using a non-recourse loan? - REP status offers tax benefits, while non-REPs face limitations. Buying a rental inside a Solo 401k with a non-recourse loan can limit potential deductions. How is the land flip taxed? Does land have to be held for a year like a house? - Land flips are taxed as ordinary income and there is no requirement to hold for a year. Is it acceptable for the IRS to trade futures from a 501c3 or a family foundation entity? Does the entity need to pay capital gains? –Yes, futures trading is allowed but can carry unrelated business income tax implications. If you form an LLC for rental property, is it best to report the activity on Schedule C or E? –Generally, it is better to report rental activity on Schedule E for tax purposes. When is the best time to do a cost segregation study? – The best time is usually after renovations are complete but it depends on individual circumstances, some you don't have to wait on, like a pool. We fix and flip luxury homes and are thinking about keeping some to rent. We have held some in the past. We have an LLC but the accountant is saying to go to an S corp. - we disagree, investment property should not go into an S corp, it should go into a land trust/LLC. We are setting up a family trust in Florida and watch your video about trust Wyoming. The attorney says we don't need Wyoming, is this true? – The WY trust is a revocable trust. If you're working on a living/grantor trust, your attorney is correct. Transitioning to an S corp may provide tax benefits. What is the best way to pay my children who actively trade in our fix flips bookkeeping? – Consider establishing them as employees and paying them a reasonable wage for their work. I understand anyone can gift to anyone in a year an amount not to exceed $17,000 per person. Can I gift from a family limited partnership Units not exceeding that amount, giving them a percentage of the LP units each year? Does it avoid the generation-skipping tax? – Yes, but your gift from your interest in the LP…it can be a viable strategy for tax purposes. Send us your questions, and check out the event schedule listed in the resources section. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=aba&utm_medium=podcast&utm_content=when-to-conduct-cost-segregation-studies Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq    

In today's Tax Tuesday episode, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, Esq., CFO of Anderson Business Advisors, discuss several interesting and complicated questions around collecting rent, refinancing your rental home, accountable plan reimbursements, and cost segregation. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: "I am single-family home real estate investor… should I collect the rent in a separate checking account LLC” - a property management entity should be collecting and paying the LLCs. Don't have renters pay directly to the ‘holding' LLC. The way you're doing it is okay. “If you refi a rental home can you start depreciating at the refi amount?” First of all, why would you refi now at 7%? But let's say you do refi; your depreciation does not start over. Unless you get cash out to improve the home, that remodel depreciation starts anew. “Thanks for talking so much about S-corps, literally saving my business. If my business doesn't have enough to reimburse me after the accountable plan” …no, you can't deduct it if you haven't been reimbursed. You can give the money to the company, creating a loss, then reimburse. “How do you determine the quality of a cost seg vendor… does it even matter.” - you need an actual person that stands behind the analysis, don't just use software. “What are the tax benefits to writing off the rental property” - you can identify each part that is NOT 27.5 years… you're supposed to do 5, 7 years, 15 years, for certain home element improvements. “I made a loan to an individual from my self-directed IRA. He wants to pay it back from a self-directed IRA. will this create a taxable event to either of us? - for you no, for him yes “I had a property vacant for repairs until April 2023…can I still claim my expenses?” - ‘ordinary and necessary' can be, yes - roof replacement, repairs, etc. but not ‘improvements'. Put it into service first. “Can a self-directed IRA co-invest with you and not create a prohibited transaction, even if you self-manage, and may use the assets?” - yes you can set up a joint venture… but you can't use the asset, you can't buy a property and ‘use it' or do any work on it. “What biz entity can leverage life insurance as an exec bonus plan for tax deduction?” - we can't think of any way to leverage it, but there are ways to write it off. Talk to somebody who works on exec compensation plans. “When taking into account bonus depreciation on investment property - how far back and forward in time?” - net operating losses cannot be carried back…only forward, indefinitely. Send us your questions and check out the event schedule listed in the resources section. Resources: Infinity Investing https://infinityinvesting.com/  Email us at Tax Tuesday taxtuesday@andersonadvisors.com  Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/  Anderson Advisors https://andersonadvisors.com/  Toby Mathis YouTube https://www.youtube.com/@TobyMathis  Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq     

In today's Tax Tuesday episode, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, Esq., CFO of Anderson Business Advisors discuss a number of common tax topics including IRA to Roth conversions, real estate depreciation deductions, LLC's, S-Corps and Sole Proprietorships, gifting vs. inheriting property, and the title question about structuring your real estate business. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: "If I move money from my SDIRA, which stands for self-directed IRA, to a Roth self-directed IRA, can I use bonus depreciation from real estate owned outside of my IRAs to offset the taxes I owe from the Roth conversion?" - It's really going to depend on where that depreciation is coming from. "I'm new to real estate investing and haven't purchased the property yet. Do I need to have an LLC to claim deductions this year on real estate–related expenses already incurred?" - An LLC really has nothing to do with taxes. It is strictly for liability protection, and asset protection. "I'm a small business owner with three other employees working for me. I'm trying to open a solo 401(k) or some other retirement plan for myself as an owner. I believe I need to offer the same to my employees as well, which I can but am not interested in offering any matching contributions to other employees. How does it work? What is the best way to set this up?" - yes, you can open up a 401(k) and have your employees participate assuming they're eligible to participate. However, you can't pay yourself a match and not pay them a match. You have to treat everybody equally. "I won $10,000 worth of furniture from a raffle or gaming event. How do I report this on my income tax?" - Whoever you won it from should be issuing you a 1099 miscellaneous with $10,000 of other income on it. You'll record it on your tax return as other income. "I'm a realtor operating as a sole proprietor. Should I be operating under a different entity to minimize taxes and liability? Over the years, I've received conflicting information and just don't know." - the math is 14.1% in addition to your state income taxes, in addition to your federal income taxes. The way you nix that is you run it through an S-corp or an LLC taxed as an S-corp. "At what point in my real estate operation should I move from a single-owner LLC to S-corp for tax purposes?" - If we're talking about investment real estate and rental properties, you don't ever want to put them in an S-corporation. It's a bad idea. "If I transfer my rental property into an LLC for the purposes of depreciation, will the LLC get a step up and basis to the current market value of the property? Or will the LLC inherit my lower basis? - If you contribute property to any kind of entity that you own, it gets your basis. “Do unrelated businesses have to have separate schedule Cs or LLCs, or can I rebrand myself on my Schedule C, DBA, JL Enterprises, and put everything together? What are the advantages or disadvantages?" -...most times I don't see a whole lot of advantage to grouping unless it's a real estate activity with an operation or something like that. "In my father's will, he's leaving me a house." Yes. "I've been living in it for nine years." "If he puts my name on the title now along with his name, will I have to pay more taxes? I prefer to do that now. What would the difference be? He does have a living will." - He would have to file a gift tax return for his basis in that half, or actually its fair market value on that half. I'm not a big fan of mixing things up under these circumstances… "We are fixing the downstairs area of our home to rent out as a short-term rental. Are there any expenses that can be used in tax deductions? Should we run it under an entity?" - The repairs that you're doing down there would be deductible. If you're doing improvements to the property, it would be depreciable. Send us your questions, and check out the event schedule listed in the resources section. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq  

Attorney for President Trump, Christina Bobb, comes on to discuss Trump's appearance in a D.C. courtroom to plead not guilty to the charges brought against him. Next, president of Color Us United Kenny Xu explains how big tech and big money are pushing public schools to go woke. Then, publisher of Human Events and the Post Millennial breaks down how the Biden administration is crushing the middle class. Finally, we take your calls in open phones across America. Learn more about your ad choices. Visit podcastchoices.com/adchoices

On today's episode of Human Events relive Jack Posobiec epic speech from Turning Point Action's, ActCon event in West Palm Beach. From the groundbreaking announcement on the upcoming documentary about child organ trafficking in Ukraine to the importance of the 2024 Presidential Election, this is a speech you cannot afford to miss! Also, join Jack Posobiec for exclusive footage from the Human Events Panel at ActCon, where he's joined by Charlie Kirk, Libby Emmons, Jeff Webb and Savanah Hernandez in an elevated discussion about the culture war and the action necessary to save our Republic - all this and more on today's Human Events with Jack Posobiec!Here's your Daily dose of Human Events with @JackPosobiec Save up to 65% on MyPillow products by going to https://www.MyPillow.com/POSO and promo code POSO Support the show

In this episode of Tax Tuesday, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, Esq., CFO of Anderson Business Advisors discuss various tax strategies for real estate, stocks, and nonprofits. Online we have Ander, Dutch, Sergei, Ross, Jared, Elliot, Troy, and all kinds of staff to help answer all your Tax Tuesday questions. Toby and Jeff cover topics such as 1031 and 721 exchanges, the Section 121 Exclusion, employee stock options, and the tax implications of short-term rentals and Health Savings Accounts (HSAs). They also discuss best practices for reimbursing personal contributions to a business. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: "Section 721 and 1031 differences” - It has the same effect as 1031 but you don't pay tax on the sale, But you're not exchanging one property for another…it's a tax-free exchange, but it's a one-and-done. "Tax benefits of a foundation versus a nonprofit organization?” - The easiest way is - a nonprofit (public charity) DOES stuff, a foundation funds stuff… "I have two houses I'm selling this year and or at the same time, both were residences for two years at the last five years consecutive. I have just lived in the latest house for the last two years and I've been preparing both to sell. Will I have a problem claiming both of them as residences two of the last five years and I'm selling them at the same time.” - So of the last 60 months, 24 of them you had to have lived in it as your primary residence. That met, then you can exclude, if you're single, $250,000 of capital gain. If you're married, you could exclude up to $500,000 of capital gain. DO NOT SELL AT THE SAME TIME. “How are stock options taxed?” - Tax treatment varies depending on the type of stock option (ISO, NSO, RSU), time held, and exercise/sale timing. "LLC taxed as S-Corp with brokerage account….anything similar to trader status?” - I have not seen anything that says any entity can make a mark to market section 475 election. If you're making a mark-to-market election because you're losing so much money in the market, get out of the market and go do something else. "Does California's 571L form business property tax apply to short-term rentals? - Yes, as short-term rentals are considered active trader businesses and subject to tax. “Who can qualify for an HSA?” - Eligible individuals must have a high deductible health plan (HDHP) and not be covered by another non-HDHP plan. Can I open an additional HSA with my LLC business? - No, you can only have one HSA per individual, but your LLC can contribute to your existing HSA. "Anderson made me a C-Corp, I put money in from my personal account to pay expenses. I have to take out the initial $7K … How do I legally and ‘tax-friendly' take the $7,000 back that I need for my personal reimbursement? - If the initial $7,000 was a loan, you can withdraw it tax-free as repayment; if a capital contribution, the process is different. Send us your questions, and we do about 50 events a year - check out the event schedule listed in the notes. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq    

One could ask, what makes the US Naval Academy a special place? Isn't it just a college with a lot of rules and uniforms? We talk with Jeff Webb, the new President and CEO of the USNA Alumni Association and Foundation, about what makes USNA a special place. He likens USNA as a unique incubator that shapes motivated young men and women into leaders, not just at the Academy or in the Navy, but throughout their entire life. That is, leaders that exemplify the expectation of trust, honor, and ethical behavior in all facets of their lives. Listen as Jeff Webb expresses what he describes as the mission of the Alumni Association, which is to expand what can be delivered with impact and meaning to USNA.

Jeff Webb is a retired NBA player who played for both the Milwaukee Bucks and the Phoenix Suns. He won an NBA Championship with the Bucks in 1971 playing alongside Kareem Abdul-Jabbar and Oscar Robertson.As a college player at Kansas State University he played for two coaching legends in Tex Winter and Cotton Fitzsimmons. Following his playing career Jeff worked as a rep for Converse and worked on some of the earliest shoe deals with schools and coaches across the country.If you're looking to improve your coaching please consider joining the Hoop Heads Mentorship Program. We believe that having a mentor is the best way to maximize your potential and become a transformational coach. By matching you up with one of our experienced mentors you'll develop a one on one relationship that will help your coaching, your team, your program, and your mindset. The Hoop Heads Mentorship Program delivers mentoring services to basketball coaches at all levels through our team of experienced Head Coaches. Find out more at hoopheadspod.com or shoot me an email directly mike@hoopheadspod.comFollow us on social media @hoopheadspod on Twitter and Instagram.Get ready to hear some great stories from the game's history as you listen to this episode with former NBA Player Jeff Webb.Website - https://en.m.wikipedia.org/wiki/Jeff_Webb_(basketball)Email – info@hemewe.com

We talk about something other than race with Jeff Webb — comedy, a very special announcement and his mom. Just listen... --- Send in a voice message: https://anchor.fm/light-me-at-5/message

We use a fancy Latin word in the title that means re-run and go back in time to the night Jeff Webb and Koffee Black destroyed the studio. --- Send in a voice message: https://anchor.fm/light-me-at-5/message

Welcome to the Sing Second Sports Podcast! A podcast covering the physical mission of the U.S. Naval Academy, and featuring the athletes, coaches and staff at USNA. Wags, Chris and John are back for 2023, bringing you the latest from Coach Newberry's offensive staff hirings, goings on in basketball and more. Mike Heary reprises his role as Basketball Svengali to help us dissect the Men's Basketball team's 8-8 start. They've dropped three in a row. Are brighter days ahead? And we chat with Naval Academy Alumni Association and Foundation CEO, Jeff Webb, about an exciting spring...DGAs....and a new director of engagement. Here's a hint. The new guy has appeared on the pod before. Share feedback on Twitter @wesingsecond...slide into our DMs or tweet at us directly. BEAT ARMY! LFG Navy. Beat Army. Here's to 2023.

Today's Tax Tuesday episode answers several listener questions around end-of-the-year strategies for reducing taxes. Toby Mathis hosts with special guest Jeff Webb, CFO of Anderson Business Advisors. Online we have Ian, Troy, and Eliot helping answer your questions. In this episode, you'll hear our advice on the following: selling stock and how you can minimize capital gains taxes, setting up trusts - including dynasty trusts and how estate taxes are assessed there, buying a vehicle for business use and the requirements for writing off depreciation and mileage, and as always there are listener questions about real estate investments and tax scenarios, including LLC's, partnerships, and long and short term rentals. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: "What is the best strategy for hiring your kids?" - If your kids are under 18, you do not have to pay withholdings or Social Security. If less than $12,950, it doesn't matter whether they're my dependents or not. They don't have to file a tax return. "How was a 'dynasty' set up so it is not taxed at the estate rate after the death of the creator? Are both the trust and the beneficiary taxed in any year funds are distributed?" - The answer is probably not if you're distributing all the funds. If I just own a bunch of stock and I don't sell any, there's no income. There's no tax. They don't care what you sell it for. What they care about is what its fair market value is on the date of your passing. "I have substantial credit card debt and private debt amounting to $120,000. I own a few rental properties. Currently own six long-term incomes and two Airbnbs. Two properties are mortgage free, and one of the current long-term tenants wishes to buy the property." They're asking for an opinion here. "Should I sell and pay off consumer debt? Should I owner-finance? If I sell and owner-finance, can I avoid capital gains?" - I would sell and pay off the consumer debt. It's probably costing a lot of money. Or, I might just refi it and pay off my consumer debt. HELOC would work. "We want to sell some stocks to pay off some debts, but we know that if we do, we're looking at a huge capital gain. What can we do to lessen the tax that we have to pay on the capital gains?" - If you have stocks, especially stocks with big gains, there's a good chance that your brokerage house will give you a line of credit against those stocks. But, I'm probably not going to do it right now just to pay off debts. But I could borrow tax-free against those same stocks and do it. "Is Anderson Advisors training recommending to have an operating agreement that allows the non-pro-rata and discretionary authority to make distribution on a regular timeframe or amount? For a multi-member LLC, how do we deal with yearly taxes in this case?" - We want to make sure that we have an operating agreement that says, I get to decide if I distribute money or not. "What options are there to save money on taxes if you own an LLC? Can passive income be used to fund a retirement account such as a solo 401(k)?" – you have to get wages of some sort to fund a Solo 401(k). You cannot have wages out of a sole proprietorship. If the sole proprietorship is a passive activity, there's no way to convert that. "I'd like to take advantage of Section 179 before the end of the year and buy a business vehicle. Can you talk in more depth about Section 179 and how depreciation and bonus depreciation work? Also, what kind of vehicles qualify for this?" – If it's under a 6000 GVWR (gross vehicular weight rating) vehicle, your limitation is $19,200 of depreciation in that first year. That includes bonus depreciation. If it is over 6000 pounds, then your bonus depreciation is pretty much unlimited. It all comes down to are you actually using it for business? And what percentage? "What is the best way to get money from my entity, a C-corp, while limiting the amount paid in taxes personally and as a corporation?" - Repay your shareholder loans. That's the best way to get money out of your C-corp if it already owes you money. "If my bill would be over $500,000, what can I do before the end of the year to reduce this?" - Look at retirement plans and advance retirement plans, charitable donations, and cost segregation. "I'm looking to attain two or more rental properties within the next year or so. Is it better to create an LLC for each property or take title under my current S-corp? I have an S-corp retail classification that I am considering dissolving. Should I just reclassify my S-corp as a real estate investment and take title in the name of the S-corp?" - Since this company was already in existence doing something else, I do not favor reclassifying. I would dissolve it. Send us your questions, and we do about 50 events a year - check out the event schedule listed in the notes. Resources: Clint Coons' Book on Amazon https://www.amazon.com/Next-Level-Estate-Asset-Protection/dp/1950863883 Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

Today's Tax Tuesday episode answers several listener questions on HSAs, S-Corps vs. LLCs, and reducing your taxes with rental properties. Eliot Thomas hosts, along with Jeff Webb, CFO of Anderson Business Advisors.  Online we have Dana, Dutch, Piao, and Troy - all kinds of resources there to help answer some of your questions. In this episode, you'll hear our advice on the tax benefits gained from being an LLC, S-Corp or C-Corp, and we'll answer a couple questions concerning HSAs - their contribution limits and investing with that HSA money. There are also some questions answered about home offices, ITIN numbers, bitcoin and of course a little bit about short and long-term rental properties and their tax implications. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: "Can you please explain the difference between an LLC, a C-corp, and an S-corp? Can an LLC also be a C- or an S-corp? I understand that C-corps and S-corps are tax elections, but are they also a type of entity?" –LLC is a legal entity, it is not a tax entity. If you want anything else like an S-corporation or C-corporation, you actually have to tell the IRS that, make an election. "Are the limits for contributions a monthly or annual amount? On irs.gov, the limit as listed is $3200 for single and $7200 for family." - the contribution limits are annual amounts. "My accountant thinks I should switch from an S-corp to a Schedule C," that's a sole proprietorship on the 1040, "because my profits are below $80,000–$90,000, and the S-corp is expensive, and I'm just one person, so I do not want to grow any bigger, and I'm happy with the sales. My question is, what is best for me, not the company? What happens if I switch? What is better for retirement and social security as I am 56 years old?" - You are going to pay for a tax return to the S-corporation that you wouldn't have to pay for extra on Schedule C. There's some work to do to put that Schedule C together. Your 1040 may get a little more expensive. If you have a health insurance plan for yourself that you're paying for, that should be paid for by the S-corporation. It will save you a good deal of money. "Can you convert a personal vehicle into a business vehicle if you only use it for business? What if you only own one vehicle? Can you deduct mileage, gas, or anything else?" - You can do that, but you have to actually contribute the vehicle to the business. Because what we don't want is any personal use of this vehicle. The solution is to track your mileage. If you are one who drives a lot, the more you drive, the more mileage, the better this comes out - keeping it in your name as a personal vehicle. "Can I reduce my W-2 taxes for my job by owning rental property?" – If you are materially participating in your short-term rental—it's not really a rental to trade or business—yes, the losses from that could reduce your W-2 income. It's plausible, but you're going to have to be within these parameters, short-term rental, or long-term rental and meet the criteria for it. "I have a C-corp staffing business. Since Covid, I've been using my home office. The home is in mine and my son's name. How can I count for the space used as an office for a tax deduction? “What is your advice for a small business owner on employing people who only have their ITIN number pending the social security number?" -Basically, you're not allowed to have people with an ITIN as employees. They have to have a social security number and be registered in the US to be here. "Can you discuss the step-by-step process of completing a 1031 exchange? - The forward 1031 makes more sense, because keep in mind, you cannot touch the cash. You also need a Qualified Intermediary. Determine if you want to do a forward 1031, a regular 1031, or do you want to do a reverse? "I have a question regarding investing with my HSA. Does an HSA function like a Roth IRA in terms of paying UBITs (unrelated business income tax)? In other words, if I invest my HSA in crowdfunding or syndication, for example, will I have to pay UBIT?" - You need to be very careful with the investments that you're going into. To your question, yes, it's subject to your HSA, it's subject to UBIT. If you invest in a real estate syndication, those typically run for four to five years. That money's going to be locked up in a hard asset that you can't get to. "Can I write off a loss selling my bitcoin with a $10,000 loss? I bought it at $26,000 and bought it right back at $16,000." - It's not allowed for you to recognize a loss on that. You've got to wait 30 days. "My understanding from a tax perspective, an LLC taxed as a C-corp and a traditional C-corp receive the same benefits such as medical reimbursement, administrative office, retirement plan, et cetera. (1) Can you explain the positions of the LLC taxed as a C-corp? Do I still need a president, vice-president, treasurer, secretary, or just member managed? - Those positions are usually required by state law. It has nothing to do with how they're taxed. It has to do with how they're formed. (2) Why would anybody form an LLC taxed as a C-corp over a regular C-corp? If there is no plan to take it public, why choose one over the other? Cost to maintain, paperwork required, et cetera?" - Yeah, easier form, less criteria behind it, a C-corp is required to have certain meetings, et cetera. You don't necessarily have that with the LLC. "Is it best to start an Airbnb business now or wait until the beginning of the next year for tax purposes? What do you think the best options are?" – You don't need to do cost segregation. It's not going to help you, unless you're renting this property out for a lot of money, like it's a beachfront property and a primary or something like that, and you're getting $10,000 a week for it. I would conserve it or save that cost seg for potentially 2023. Check out our events coming up later this month. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

Today's Tax Tuesday episode answers several listener questions on S-Corps vs. LLCs. Eliot Thomas hosts with special guest Jeff Webb, CFO of Anderson Business Advisors.  Online we have some of the staff from Anderson – Dana, Dutch, Ian, Piao, and Troy here answering live chat questions. In this episode, you'll hear our advice on several scenarios regarding potentially switching from an LLC to an S-Corp and the likely tax benefits, along with several questions about purchasing property for your children to live in while they are attending school or just getting on their feet. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: “I have an LLC now for a small business, and I'm wondering what the benefits are of switching to an S-Corp and what the tax deduction benefits might be?”--- If it's an LLC, it's got liability protection. If it's not making a lot of money, (under $50K) – probably don't go the S-Corp route. “Can cost segregation depreciation be done on a property purchased one or two years earlier? If so, is it state-specific? Would it be a great option if that was a possibility with REP status?” You can go back in time and do the cost segregation. Let's say you bought the property in 2020. It's now 2022. You could do cost segregation. That depreciation from the cost segregation would appear on your 2022 return. If you do not have REP status or can't get REP status, normally cost segregation is not a great idea. “Is there a way to convert from a 401(k) to an IUL (Indexed Universal Life) or Roth without having to pay the high tax burden, or at least minimize the tax hit?” The problem is you are going to get a tax hit if you take 401(k) money and put it in an IUL. Anything you take out the 401(k), money's going to be taxed at ordinary rates. And if you're not 59½, you could be hit with a 10% penalty on top of it. “I'm a member of WREIN. I purchased a house and a condo in the past few months that two of my children currently live in. There is a mortgage and my soon-to-be daughter-in-law is on that with me. I pay the mortgage on the living costs, including tuition. Should I claim this home as a rental?” You can't just write a check or gift it and say, now I'm going to have them pay me rent back. The IRS has seen through that. That's a gift. It doesn't sound like they're paying anything so I see no rental here. “My son is 26 and in his second year of post-secondary education. The condo doesn't have a mortgage. I purchased it with funds from a private money lender in April that I have paid off with a HELOC from my primary residence. What would be the most advantageous way for me to claim this home, rent, and the best strategy? We've created a problem with our second home because we now have more than two private residences. Once again, I would probably deduct the HELOC as investment interest. Whichever one has the higher mortgage should be your second home. The next one would just be investment interest on an investment you own (the condo). And again, you can deduct the taxes on as many properties as you own. But again, you still have that $10,000 cap for state and local taxes. “Due to having two W-2s, I cannot qualify for real estate professional status nor can my partner. What is the best solution to minimize the tax bill coming at the end of the year? By the way, with both W-2s, I will be moving to a higher tax bracket that neither W-2 knows about. I will owe more taxes than they take out at the end of the year, unless I find some way to get my passive losses from depreciation available to lower my W-2 bill.” If you make $50,000 in each job, you're going to have a whole lot more taxes and probably going to be under-withheld because it's based on $50,000 on each job. REP status doesn't work. You could do a short-term rental. Be sure to adjust your W4s for two jobs/withholding. “I just moved to Arkansas and sold and purchased properties here in Arkansas through a 1031. How do we get taxed on the remaining amount that was not used as a 1031 replacement property? I reserved some of the money from the sale as I don't know what my tax bracket here is for taxation, and how much. I would be paying income tax. Can you give me an answer using the percentage of the sale?” Every dollar that you held back from the 1031 exchange is going to be taxed. And the first tax is going to be depreciation recapture, at a max of 25%. And the rest is capital gain at around 15%. “I'm interested in using an accountable plan. Can you differentiate between a home office deduction,” which is on Schedule A, I believe, “and requires an exclusive home office use, versus the administrative home office which appears not to need the exclusive use?” ‘Unreimbursed employee expenses' was eliminated at the end of 2017, so that doesn't work anymore. Your only choice (especially in an S-Corporation) is a reimbursement. “I'm not qualified as a REP (real estate professional) but with passive losses. Is there any way I can reduce my income with these losses and what can I do before this year is completed?” The only thing you can do with passive losses is offset them with a passive income, which effectively means you're not using your passive losses to reduce your income. Short-term rentals are not rental activity. “We have mainly W-2 income and also some investment properties passive. Our W-2 is too high to get tax deductions from its loss besides doing a short-term rental Airbnb. What are other ways we can deduct our W-2 income tax?” Max out those retirement contributions. Oil and gas is another still popular investment. There you have to have a working interest—that's very important—but it is a write-off that's substantially all of your investment for the most part. “We are about to apply for a HELOC. We do not own our home yet. My husband is the only moneymaker right now. We want to buy my daughter a mobile home. It's approximately $47,000. Our credit score is over 800.” I don't think this is a business, and I think wrapping an LLC around this property is a bad idea. But the daughter would have to be paying market rent. You would have to run it as a real business. Check out our events coming up later this month. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

Several of today's tax questions are related to STRs (Short-term rentals) like Airbnb and VRBO. Toby Mathis and Jeff Webb of Anderson Advisors discuss the differences between passive or active income on these popular investment properties, and answer additional tax-related questions. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: Investing in multiple family syndications - I think when you make an aggregation election, you're electing to treat all your rental activities as one activity Setting up ongoing support for 501(c)(3) organizations that support the advancement of religion - Make it a private foundation. Spell out your values and then say, here are the organizations that I believe meet that at this time- but understand how wildly society and religion might change over time Short-term rentals/hotel syndications - active or passive income? Unless you're an employee like the general manager of the investment property, you're passive. This is not a rental activity, period. Hotel syndication or short-term rental, just remove the ‘rental' and it's a regular business A real estate investor pays almost no taxes, but her husband is a 1099 contractor with a huge tax burden. Should they put some properties in his name? If you're filing jointly, it won't matter. You could also donate a property for a community service/non profit to get the deduction of the full market value There are still actions you can take if you're getting killed on 2021 taxes, the clock has not stopped on 2021yet! Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Get Clint Coons' Book https://www.amazon.com/Next-Level-Estate-Asset-Protection/dp/1950863883 Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

If you are into Airbnb or VRBO, what are the top tax benefits and loopholes for short-term rentals? Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: We have to clean the short-term rental the first year to get the hours necessary for active/material participation. It is a 90-to-120 (minute or mile) drive one way. Since we will be working, can we stay in the unit that night without counting it as personal use? You can include the travel time. However, staying the night will not count toward working on it. It definitely counts as personal use. I have a beach house that I'm starting to rent out, so I got a DBA business name. I've been renovating and fixing it up to make it more attractive. I have a regular job and was told that if I made more than $150,000, I would not be able to write off my expenses and costs associated with my rental. Is this true? It depends on if it's a rental or residential investment. Also, in some states and counties, the DBA is a fictitious name, and it offers no kind of protection or benefit at all. Can you explain the short-term rental tax benefit and how to get 100 hours of material participation? If short-term rentals are seven days or less, it's a business. Determine if it's 1245 or 1250 property and passive or active/material participation income. I have a four-unit that I want to live in and rent out the other three units. What are all the tax deductions and write-offs I can use to zero out earnings? Bifurcate it into two properties. One unit would be your personal residence and the other 75% would be rental properties. Any expenses related to your rental unit would go against your real estate taxes and mortgage interest. For all questions/answers discussed, sign up to be a Platinum member to view the replay! Go to iTunes to leave a review of the Tax Tuesday podcast. Resources: Next Level Real Estate Asset Protection by Clint Coons https://www.amazon.com/Next-Level-Estate-Asset-Protection/dp/1950863883 Cost Segregation Authority https://aba.link/CSA Real Estate Professional Status https://www.irs.gov/pub/irs-utl/33-Real%20Estate%20Professionals.pdf Capital Gains, Losses, and Sale of Home https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home 26 U.S. Code 121 Exclusion https://www.law.cornell.edu/uscode/text/26/121 Schedule E https://www.irs.gov/forms-pubs/about-schedule-e-form-1040 Anderson Business Advisors https://andersonadvisors.com/ Anderson Business Advisors on YouTube http://aba.link/YouTube Anderson Business Advisors on Facebook https://www.facebook.com/AndersonBusinessAdvisors/ Anderson Business Advisors Podcast https://andersonadvisors.com/podcast/

Jeff Webb is a renowned business entrepreneur, founder and chairman of Varsity Spirit which he started in his apartment in 1974 and is now a multibillion-dollar company with more than 5,000 employees. He recently refocused his efforts as President of the International Cheer Union, where he was able to secure cheerleading as an official Olympic sport in 2021. Jeff is also the Publisher for Human Events — a longtime Washington, D.C.-based conservative website and author of the Amazon bestseller American Restoration: How to Unshackle the Great Middle Class. International Cheer Union: cheerunion.org Human Events: humanevents.com --- Support this podcast: https://anchor.fm/john-aidan-byrne0/support

Jeff WebbWEBSITE: https://humanevents.com/BOOK: https://www.amazon.com/American-Restoration-Unshackle-Great-Middle/dp/1642939005/ref=sr_1_1?crid=2OIXNY7TJNVIF&keywords=jeff+webb&qid=1660684567&sprefix=jeff+webb%2Caps%2C102&sr=8-1TO WATCH ALL FULL INTERVIEWS -https://banned.video/playlist/62706852531c9f4b27c2e6b1SPONSORS FOR TODAY'S VIDEO►  ReAwaken America- text the word EVENTS to 40509(Message and data rates may apply. Terms/privacy: 40509-info.com)►  Kirk Elliott PHD - http://FlyoverGold.com ►  My Pillow - https://MyPillow.com/Flyover►Z-Stack - https://flyoverhealth.com Own Your Own Business As An Option To Avoid The Jab- http://FlyoverCarpet.com https://TipTopK9.com/Want to help spread the Wake Up • Speak Up • Show Up -https://shop.flyoverconservatives.com/-------------------------------------------Follow our Social Media so we can be best friends

Tonight, on the Flyover Conservatives show we are tackling the most important things going on RIGHT NOW from a Conservative Christian perspective! TO WATCH ALL FLYOVER CONSERVATIVES SHOWS -https://banned.video/playlist/61e636f26959067dbbfa11bfGreg ReeseVIDEO: https://banned.video/watch?id=62ea942f9730eb418c5d1a4fCDC Guidelines Changed WEBSITE: https://www.cdc.gov/mmwr/volumes/71/wr/mm7133e1.htmARTICLE: https://www.theepochtimes.com/new-cdc-covid-19-guidance-is-agency-admitting-it-was-wrong-epidemiologist_4662417.htmlARTICLE: https://www.cnbc.com/2020/10/31/coronavirus-trump-campaign-rallies-led-to-30000-cases-stanford-researchers-say.html?fs=e&s=clJeff WebbWEBSITE: https://humanevents.com/BOOK: https://www.amazon.com/American-Restoration-Unshackle-Great-Middle/dp/1642939005/ref=sr_1_1?crid=2OIXNY7TJNVIF&keywords=jeff+webb&qid=1660684567&sprefix=jeff+webb%2Caps%2C102&sr=8-1SPONSORS FOR TODAY'S VIDEO►  ReAwaken America- text the word EVENTS to 40509(Message and data rates may apply. Terms/privacy: 40509-info.com)►  Kirk Elliott PHD - http://FlyoverGold.com ►  My Pillow - https://MyPillow.com/Flyover►Z-Stack - https://flyoverhealth.com Own Your Own Business As An Option To Avoid The Jab- http://FlyoverCarpet.com https://TipTopK9.com/Want to help spread the Wake Up • Speak Up • Show Up -https://shop.flyoverconservatives.com/-------------------------------------------Follow our Social Media so we can be best friends

Jeff Webb, author of American Restoration: How to Unshackle the Great Middle Class, joins The P.A.S. Report Podcast to discuss how the Biden administration's current economic policies are a disaster and hurting the middle class. The burdensome regulations have handcuffed industries. The most important thing we can do is return to the original intent of the founders, the principles of federalism, and that the Republicans must articulate their policies to stand for something. More Information If you enjoyed this episode and found it useful, please give The P.A.S. Report Podcast a 5-star rating and take 30-seconds to write a review.   Make sure to hit the follow button so you never miss an episode. Also, please share this episode with family, friends, and on social media.   Don't forget to visit https://pasreport.com.    Support The P.A.S. Report affiliates. Use code PAS at Balance of Nature to receive 35% off your first preferred order.   *PA Strategies, LLC. earns a commission when you make a purchase through the affiliate link.

JLTY Plus: Are Woke Corporations Actually Waking Up? with Jeff WebbThis episode is brought to you byIndeed: https://www.indeed.com/jltyShare Healthcare: https://app.sharehealthcare.com/enroll?refcode=fcbusaBLM Aftermath Chapter 2: https://www.youtube.com/watch?v=Ckg2wYsroFA