Podcasts about reduce taxes

Tommy Thornburgh, President of Prime Corporate Services, attributes the company's success over the past decade to his dedicated team, which has helped over 100,000 entrepreneurs structure their businesses effectively. As the driving force behind webinars and events, he leads 50 Corporate Advisors who assist over 400 new entrepreneurs daily. Tommy's journey began in door-to-door pest control sales, where he learned about the challenges of taxes, and later he worked at Clearlink before joining PCS. He fosters a close-knit family culture at the company, and in his free time, he enjoys golfing and spending time with his wife and young daughter.   Here's some of the topics we covered:   The Reason Why Tommy Helps Investors and Entrepreneur Proactive vs Reactive Tax Planning Strategies To Cut Taxes Drastically Health Savings Accounts Ninja Trick to Cut Taxes if You Have Children Business Credit For Business Related Expenses The 3 Questions To Ask Yourself Before Setting Up A Business   To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com    For more about Rod and his real estate investing journey go to www.rodkhleif.com   Please Review and Subscribe  

In this episode of Passive Income Pilots, Tait Duryea takes you back to one of the most downloaded episodes in the show's history with Toby Mathis from Anderson Advisors. Discover how tax laws can work for you through real estate investments, cost segregation, and bonus depreciation strategies. Toby breaks down the game-changing legal strategies high-income earners can use to reduce their tax burden and maximize returns drastically. If you're a pilot frustrated with taxes or looking to level up your knowledge, this episode is packed with powerful insights.Toby Mathis is a tax attorney, author, and principal at Anderson Advisors, where he has spent over 25 years advising investors and business owners on tax strategies. He is also a member of the Forbes Real Estate and Finance Council. As both an experienced real estate investor and a legal expert, Toby brings practical, actionable insights to the show. He specializes in helping high-income earners legally reduce their tax burden through real estate, business structures, and creative legal strategies. Toby is also known for his popular bi-weekly webinar, Tax Tuesday, and his #1 bestselling book "Infinity Investing," published by Forbes Books.Enjoy the show!Show notes:(0:00) Intro(01:13) Economic update and job market trends from the Federal Reserve Beige Book(05:03) Tax challenges for pilots and strategies to reduce taxable income(08:49) Debunking myths about LLCs and creating tax-deductible losses(12:57) Understanding income types: active, portfolio, and passive income(17:10) Can passive losses offset W-2 income for pilots?(19:30) Tax implications of owning a business versus owning real estate(23:11) Bonus depreciation and maximizing tax benefits with real estate investments(31:46) Real estate professional status: how pilots can qualify and benefit(45:31) Combining Airbnb with long-term rentals for optimal tax strategies(58:04) Cost segregation and accelerating depreciation for significant tax savings(1:10:05) OutroConnect with Toby:Company Website: https://andersonadvisors.com/ Website: https://tobymathis.com/ Youtube: https://www.youtube.com/@TobyMathis Free Tax Webinar: https://andersonadvisors.com/tax-tuesdays/ Toby takes a deep dive into taxes at Spartan Investment Group:Tackling the Toughest Tax Questions of all Time!https://www.youtube.com/watch?v=GX8rFZSGeVc — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Have questions or want to discuss this episode? Contact us at ask@passiveincomepilots.com See you on the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Send us a textImagine offsetting your W-2 income with tax deductions from a side business like renting out heavy machinery or solar panels. Join us as we bust the myth that tax savings are only for entrepreneurs and explore practical strategies that can benefit anyone. From leveraging charitable tax deductions to investing in tax-advantaged opportunities where savings exceed initial costs, this episode is packed with actionable insights to help you reduce taxable income, generate cash flow, and build long-term wealth.We take a deep dive into the wealth-building potential of real estate investments, showcasing short-term and long-term rental strategies, cost segregation studies, and the incredible tax benefits of having a spouse as a real estate professional. Discover the advantages of qualified opportunity zone funds, and passive investment vehicles like ATM funds, car washes, and self-storage. Learn advanced techniques to offset large capital gains from tech startup investments and understand the importance of vetting investment funds to avoid scams. Tune in for a comprehensive guide to accelerating your financial freedom and achieving long-term goals through savvy tax strategies.

In this episode of the Coins, Cashflow, & Conversations Podcast, Dakota Grady breaks down five tax strategies for small business owners. If you're a small business, specifically a nurse practitioner entrepreneur, med spa owner, or aesthetic entrepreneur, you don't want to miss this episode to learn how to pay less taxes! If you're: -Struggling financially -Living paycheck to paycheck -Stressed out & credit cards are maxed out -Losing sleep because you're worried about whether or not you're going to be able to pay your bills... Watch the Coins, Cashflow, & Conversations Podcast with Dakota Grady. *The Coins, Cashflow, & Conversations Podcast is sponsored and brought to you by Upstate Essential Solutions, LLC!*

We dive into actionable strategies to help you save more money in retirement. From pension income splitting and maximizing tax credits to optimizing RRIF withdrawals and deferring government benefits, we break down key steps to reduce your tax burden and stretch your savings.   Read the full show notes and find more information here:  EP 104 Show Notes

Check out this episode wherever you like to listen or watch podcasts! Episode Page: https://vinneychopra.com/podcast/ Youtube: https://youtu.be/vKertaY_ZGM Spotify: https://spoti.fi/423B4fz iTunes: https://apple.co/3tQ9Tsf     ----     To learn more about how Vinney can help you, click here - https://linktr.ee/VinneySmileChopra   Smile Always and Be Happy!     -----     Unlock the secret playbook of small business owners and save

Diversifying your retirement savings across pre-tax, post-tax Roth, and taxable accounts can provide flexibility to manage your tax liability in retirement. Understanding the unique benefits and drawbacks of each account type is key to optimizing your adjusted gross income and navigating evolving tax laws.ALSO in this podcast: MOH - Molina Healthcare Inc. (NYS), BMY - Bristol Myers Squibb Co. (NYS), ULTA - Ulta Beauty Inc. (NAS), MU - Micron Technology Inc. (NAS), FSTA - Fidelity MSCI Consumer Staples Index ETF (ETF), SBUX - Starbucks Corp. (NAS), SSNC - SS&C Technologies Holdings Inc. (NAS), DFFVX - DFA US Targeted Value Portfolio; Institutional (FUND); plus Decliner birth rates and impact on investors, strike price for call options, U.S. fiscal outlook and the deficit, IMF comments from Luke, possible private offerings for ETFs (BlackRock).Our Sponsors:* Check out eBay Auto: www.ebay.comAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Are you a CPA firm looking to score the best tax deductions for your clients? These cost segregation experts will reclassify building assets and increase your clients' cash flow. Contact ABGi ahead of tax season at https://abgi-usa.com/services/cost-segregation DJG Global Investments, LLC DBA My Tooth Media City: Marina Del Rey Address: 578 Washington Blvd Website: https://www.mytoothmedia.com/

Join Dr. Preston Cherry and Dr. Russell James, as they discuss how charitable giving and tax planning can work together. Plus, they break down tricky tax stuff, including how to deal with estate and income taxes smartly.Want to learn more? Connect with us below! Dr. Russell James on LinkedInDr. Preston D. Cherry on LinkedInDr. Preston D. Cherry's WebsiteReady to explore these tax planning strategies for financial acceleration? Visit our website for more insights and personalized guidance.Click here to go to our website: https://concurrentfp.com

This week, Paul is joined by special guest Dennis Serre, President & CEO of Serre Financial.Dennis brings over 30 years of taxation planning experience to clients and financial advisors across the country. He began his career with the CRA, and he remains a leader in the industry by researching and providing unique tax alternatives to business owners and high-net-worth individuals.Paul & Dennis discuss the use of family trusts for business owners and how they can be used to reduce taxation.Topics discussed include, but aren't limited to:The use of family trusts for tax deferralTax on Split Income (TOSI) rules and how family trusts can reduce their impactHow family trusts can be used to reduce taxation on sale of capital property such as real estateUsing a family trust to multiply the Lifetime Capital Gains ExemptionHow estate freezes can be used to pass a business onto the next generationConnect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Join hosts Deren Flesher and Ross Brannon in this enlightening episode of 'Wealth Beyond the White Coat' as they explore the intricacies of tax planning and retirement strategies for medical professionals. Featuring tax expert John Harvard and investment guru Matt Chancey, this discussion delves into practical tax advice, the benefits of various retirement plans, and how to strategically manage investments like oil and gas to maximize deductions and optimize financial health. Tune in to unlock the secrets of achieving financial freedom and ensuring a prosperous future beyond the clinic.

Join hosts Deren Flesher and Ross Brannon in this enlightening episode of 'Wealth Beyond the White Coat' as they explore the intricacies of tax planning and retirement strategies for medical professionals. Featuring tax expert John Harvard and investment guru Matt Chancey, this discussion delves into practical tax advice, the benefits of various retirement plans, and how to strategically manage investments like oil and gas to maximize deductions and optimize financial health. Tune in to unlock the secrets of achieving financial freedom and ensuring a prosperous future beyond the clinic.

Looking for tax deduction?In this episode of The Business Ownership Podcast I interviewed Shauna A. Wekherlein. She is the Top 1% of Tax Strategists in the USA, specializing in Business Tax Strategy & Real Estate. She has 20+ years in tax field working specifically for Business Owners, Self-employed, and Investors to actively create custom strategies to maximize deductions and reduce their tax burdens to the legal minimum. With over 4700 tax plans written thus far, the Tax Goddess team has been able to help clients save over $1.12 Billion in taxes. Learn how to save on taxes. Check this out!Introduction to Tax Goddess Page: https://taxgoddess.com/growth-team/Shauna on LinkedIn: https://www.linkedin.com/in/taxgoddess/"The 6% Life: 7 Strategies That Successful Entrepreneurs Use to Reengineer Their Life to Consistently Pay Less Than 6% in Taxes" book on Amazon: https://www.amazon.com/Life-Strategies-Successful-Entrepreneurs-Consistently/dp/0996032916Book a call with Michelle: https://www.AwarenessStrategies.com/m30Join our Facebook group for business owners to get help or help other business owners! The Business Ownership Group - Secrets to Scaling: https://www.facebook.com/groups/businessownershipsecretstoscalingLooking to scale your business? Get free gifts here to help you on your way: https://www.awarenessstrategies.com/Digital Adoption Roadmap: https://www.awarenessstrategies.com/digital-adoption-roadmap/ 

Brian and Brett talk about creative ways to reduce tax burdens, such as giving property deeds to farmhands or getting married on paper. Brian also talks about and helps you to understand more aabout opportunity zones and 1031 exchanges. He also emphasizes the importance of knowing the tax rules and planning for the five D's: death, disability, divorce, disagreement, and distress. The guys also discuss advice for business owners and real estate investors on how to minimize taxes, pass on wealth to the next generation, and create exit plans   00:00 Creative Ways to Reduce Taxes 02:47 Exploring Tax Strategies 05:44 The Limits of Tax Planning 13:02 Planning for the Five D's 21:30 Creating Exit Plans 23:13 Seeking Advice and Considering Estate Planning

Big Tex, Paul in Maryland, and Nick in Alabama all need to know how much money they should convert to Roth to pay as little tax as possible, today on Your Money, Your Wealth® podcast 471 with Joe Anderson, CFP® and Big Al Clopine, CPA. Johnny and June forgot to convert their backdoor Roth money - are they in trouble? Darren in Nevada has no plans at all to do Roth conversions, but surprisingly still listens to YMYW, and still wants a spitball on his retirement and real estate investment strategies. Plus, can Lolly Pop in New Jersey be less miserly and back off on saving for retirement? Can John in South Carolina use this year's lower income to reduce his Medicare premiums? And finally, if Ordinary Guy in Boston meets an untimely demise, should that change his plans to retire early? Access this week's free financial resources and the episode transcript in the podcast show notes, and Ask Joe & Big Al On Air for your Retirement Spitball Analysis, at https://bit.ly/ymyw-471 Timestamps: 00:00 - Intro 00:58 - Can I Use This Year's Lower Income to Reduce My Medicare Premiums? (John, South Carolina - voice) 04:39 - Forgot to Convert our Backdoor Roths. Are We in Trouble? (Johnny and June, Oakland, CA - voice) 07:47 - Is Retiring This Year Doable? Should We Convert to Roth? $1.8M Saved, Spend $140K/Year (Big Tex - voice) 13:55 - DIY Retirement Guide - limited time offer - download by Friday, March 8, 2024! 15:05 - Should I Convert My Entire SEP-IRA If I'm Staying in the Highest Tax Bracket? (Paul, Baltimore, MD) 20:51 - $11M+ at Age 46. How Much Roth Conversion and When to Retire? (Nick, AL) 24:42 - Can I Back Off on Retirement Saving So I Can Be Less Miserly? (Lolly Pop, NJ) 30:43 - Financial Markets Master Class webinar - watch on demand 31:24 - Spitball on My Retirement and Real Estate Investment Strategies (Darren, NV) 38:28 - Should My Untimely Demise Change Our Early Retirement Plans? (Ordinary Guy, Boston, MA) 48:10 - The Derails

Talk to Chicago's Goldstone Financial Group about planning your estate. Make sure you pass on something worth having. Get more details at https://goldstonefinancialgroup.com/ Goldstone Financial Group City: Oakbrook Terrace Address: 18W140 Butterfield Road Website: https://goldstonefinancialgroup.com/ Phone: +1-630-620-9300 Email: contactus@goldstonefinancialgroup.com

Feb 12, 2024 – In today's Lifetime Planning episode of the Financial Sense Newshour, Jim Puplava and Crystal Colbert explore the potential advantages Roth IRAs present in retirement and estate planning with tax-free growth and distributions...

It's that time of year again where many of you are considering giving generously to help others.  What are some of the best tax strategies for giving?  In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Justin Harvey, a fellow Certified Financial Planner (CFP®) and founder of Anesthesia Success—a planning firm and podcast dedicated to helping anesthesia and pain physicians make successful career and financial decisions. Topics Discussed: • Charitably inclined? Uncle Sam encourages contributions to help everyone • Science of Giving: Feels good when faith shapes financial plan/philosophy • Giving Forms: Generously invest time, money, emotion for observable impact • Is giving important? When? Giving imperfectly is better than not giving at all • Standard vs. Itemized Deduction(s): Cultivate desire and mechanics of giving • Charitable Contributions: Change from above- to below-the-line tax deduction • Appreciated Securities: Giving a security that has unrealized taxable gains • Taxable Accounts: Investment account type that has no inherent tax advantage • Donor Advised Fund: Pros and cons of using the DAF strategy for giving • Batched Giving: Strategically think about timing of gift based on tax situation • Internal vs. External Factors: How will tax situations, brackets, policies change? • Tax Impact: Qualified Charitable Distribution vs. Required Minimum Distribution • Private Foundations: Give more meaningfully charitably to express generosity LINKS: www.WrenneFinancial.com

The Redcoats have a number of so-called tax reduction bills.  The big ones they are touting have some major problems--some of them are really misleading.  Campbell County Rep John Bear joins me to discuss them.

In the new year, you can save even more for retirement on a tax-advantaged basis. Take full advantage of your opportunities to save now and in the future. Plus, listeners want to know: How should excess money in an HSA be invested? What should be done with a $500,000 inheritance? Learn more about your ad choices. Visit megaphone.fm/adchoices

In this groundbreaking episode of the Pilla Tax Podcast, Dan Pilla, a luminary in the field of tax litigation and compliance, takes on one of the most pressing issues in modern finance: the tax implications of cryptocurrency. With the digital currency landscape evolving rapidly, Dan provides crucial insights into how these changes impact taxpayers and the IRS alike.In this episode, we delve deep into the world of cryptocurrency and its intersection with tax law:Privacy vs. IRS Oversight: Dan addresses the common belief that cryptocurrency trades are private and beyond the reach of the IRS. He explores whether the IRS can access your crypto trade history and what that means for traders.IRS Focus on Crypto Compliance: Is cryptocurrency compliance really a significant concern for the IRS? Dan examines how the IRS views crypto transactions and why understanding this perspective is crucial for anyone involved in digital currency trading.Understanding the Taxability of Crypto: What are the most common misunderstandings about the taxability of cryptocurrencies? Dan breaks down the complexities and misconceptions surrounding crypto taxation, providing clarity in a field often shrouded in confusion.Staying Compliant with Crypto Taxes: Lastly, Dan offers invaluable advice on what you need to know to stay on the right side of the law when it comes to cryptocurrency and taxes. From record-keeping to reporting, learn how to navigate these murky waters effectively.This episode is a must-listen for anyone engaged in or interested in the world of cryptocurrency. Whether you're a seasoned investor, a curious newcomer, or a tax professional looking to stay ahead of the curve, Dan's insights offer a clear path through the intricate and often misunderstood world of crypto taxation.Tune in to "Decrypting Crypto Taxes" on the Pilla Tax Podcast and arm yourself with the knowledge you need to navigate this rapidly evolving landscape confidently and compliantly.#DanPilla #TaxExpert #PillaTaxPodcast #Cryptocurrency #CryptoTaxes #IRSScompliance #DigitalCurrency #TaxLaw #Finance #CryptoTrading #TaxPlanning #IRS #TaxCompliance #Blockchain #CryptoInvestment

In this must-listen episode of the Pilla Tax Podcast, Dan Pilla, celebrated as a titan in tax consultation and strategy, delivers an exceptional deep dive into critical year-end tax planning, investment strategies, and business tax considerations. With his unique blend of expertise and clarity, Dan elucidates complex tax scenarios, offering actionable advice for our listeners.This episode covers three significant topics:Reviewing Financial Portfolios: Dan begins by discussing the crucial task of reviewing financial portfolios, focusing particularly on the tax implications of capital gains and losses. This segment is invaluable for anyone looking to optimize their investment strategy for tax efficiency, understand market trends, and navigate the often confusing landscape of investment taxation.Making Smart Equipment Purchases: Next, Dan takes us through the advantages of making business equipment purchases under Code §179. This is a goldmine of information for small business owners seeking to understand how strategic investments in their business can lead to substantial tax savings. Dan's expertise breaks down this complex code into practical, easy-to-implement strategies.Crypto Currency Tax Considerations: Lastly, addressing the burgeoning field of digital currencies, Dan provides essential insights into the key tax considerations for crypto transactions. As crypto continues to gain traction, understanding its tax implications is crucial. Dan's guidance is especially timely and relevant, demystifying the nuances of crypto taxation.Dan Pilla's ability to articulate these intricate topics in a clear and concise manner makes this episode a standout. Whether you're a seasoned investor, a small business owner, or simply keen on staying ahead in the world of finance and taxes, you'll find this episode packed with invaluable insights and tips.Tune in to this episode of the Pilla Tax Podcast for an enlightening journey through the landscape of year-end tax planning and strategic financial decision-making. And remember, for more expert insights from Dan Pilla, don't forget to like, share, and subscribe!Remember to like, share, and subscribe to the Pilla Tax Podcast for more expert insights from Dan Pilla.Be sure to check out the Pilla Tax Academy website for all your tax resources at:www.PillaTaxAcademy.comYouTube: https://www.youtube.com/@pillataxacademyFaceBook: https://www.facebook.com/pillataxacademyInstagram: https://www.instagram.com/pillataxacademy#DanPilla #TaxExpert #PillaTaxPodcast #YearEndTaxPlanning #InvestmentStrategies #BusinessTaxes #FinancialPortfolios #CapitalGains #TaxSavings #Section179 #CryptoCurrency #TaxAdvice #TaxPlanning #FinancialEducation #CryptoTax #BusinessGrowth

Welcome to a crucial episode of the Pilla Tax Podcast, especially designed for those looking to make smart tax moves as the year draws to a close. In Episode 38, we have the privilege of having Dan Pilla, a tax expert with over four decades of experience, who will provide invaluable insights into strategic tax planning as we approach the end of the year.In this episode, we're focusing on three key areas:Prepaying State Income Taxes: Dan addresses the strategy of prepaying state income taxes before December 31st. He elaborates on how this can be a smart move for some taxpayers, while also cautioning about potential downsides. It's a nuanced discussion that can help you decide if this strategy works for your situation.Wage Withholding and Estimated Payments Review: Next, we delve into the often-overlooked aspect of wage withholding and estimated tax payments. Dan guides us through the process of reviewing these payments and identifies common errors that taxpayers should avoid. This segment is essential for anyone looking to optimize their tax situation and possibly increase their take-home pay.Financial Review and Tax Liability Forecast: Finally, Dan emphasizes the importance of reviewing your financial situation before the year ends. He explains how this proactive step can be crucial in managing unexpected tax liabilities and avoiding unpleasant surprises during tax season.This episode is packed with expert advice and practical tips for both individual taxpayers and small business owners. Whether you're seeking ways to minimize your tax liability or just looking to better understand the end-of-year tax landscape, this podcast is for you.Tune in now and step into the new year with confidence, equipped with the knowledge to make informed tax decisions.Remember to like, share, and subscribe to the Pilla Tax Podcast for more expert insights from Dan Pilla.Be sure to check out the Pilla Tax Academy website for all your tax resources at:www.PillaTaxAcademy.comYouTube: https://www.youtube.com/@pillataxacademyFaceBook: https://www.facebook.com/pillataxacademyInstagram: https://www.instagram.com/pillataxacademy#DanPilla #TaxExpert #PillaTaxPodcast #EndOfYearTaxPlanning #TaxStrategies #StateIncomeTax #TaxWithholding #FinancialReview #TaxLiability #TaxTips #FinancialPlanning #TaxAdvice #SmallBusiness #PersonalFinance #IRS #TaxSeasonPrep

Although many tax-saving strategies are geared towards business owners, it is still possible for W-2 employees to implement a variety of techniques to save a substantial amount of money in taxes. In this video, tax expert Karlton Dennis breaks down five of the best ways to reduce taxes on W-2 and active income. He covers real estate investing-based strategies such as qualifying for real estate professional status and using the short-term rental rule. The short-term rental rule involves renting property for 7 days or less as opposed to renting it out for a longer period. Additionally, Karlton also explains how charitable donations and certain tax-advantaged retirement accounts such as traditional 401ks can be used to lower a tax bill. This video is helpful for anyone who works a W-2 job but wants to lower their taxes. Taking the Next Step: Download my new book! The Short Term Rental Rule: https://ebook.taxalchemy.com Book a Professional Tax Strategy Consultation ▶ https://karladennis.com/youtubeconsult *Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you. #taxes #taxfreeliving #taxexpert #taxreduction #llc

The new year is coming and I am revealing one strategy that could potentially save you $100K! What is it and how can you get it started NOW so you can save on taxes and fees? Listen and learn more! Want to learn more? - https://bit.ly/47oapMw. Want to see your passive income potential? - https://bit.ly/3Gbohh9.  

In this episode, Brandon Hall and Thomas Castelli discuss proven tax strategies that real estate investors and business owners can use to reduce taxes, including: - Home office and vehicle deductions. - Paying your children to work in your business. - Deducting business travel, equipment, and more! Interested in our Short-Term Rental Bookkeeping Service? www.therealestatecpa.com/accounting Get on the waitlist for the Major League Real Estate podcast: www.therealestatecpa.com/mlre Apply today: www.therealestatecpa.com/careers Email suggestions for podcast growth to: hello@taxsmartinvestors.com Become a Tax Smart Insider today and claim your free bonuses today at www.taxsmartinvestors.com/insiders Subscribe to our YouTube channel: www.youtube.com/c/therealestatecpa Join our Facebook group, the one-stop-shop for real estate investors to learn about tax strategy and stay up to date on changing tax laws: www.facebook.com/groups/taxsmartinvestors To become a client, request an initial consultation from Hall CPA, PLLC at www.therealestatecpa.com/become-client Follow Brandon on Twitter: @bhallcpa Follow Thomas on Twitter: @thomascastelli_ The Tax Smart Real Estate Investors podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

In this episode, Brandon Hall and Thomas Castelli discuss how to reduce the tax you pay on W-2 and other active income, including: - Real estate and general tax strategies - Key tax deductions - Available tax credits There's a lot of shady things out there on the internet - this episode sets the record straight. Apply today: www.therealestatecpa.com/careers Email suggestions for podcast growth to: hello@taxsmartinvestors.com Become a Tax Smart Insider today and claim your free bonuses today at www.taxsmartinvestors.com/insiders Enroll in our Tax Strategy Foundation for Limited Partners course: www.taxsmartinvestors.com/limitedpartners Subscribe to our YouTube channel: www.youtube.com/c/therealestatecpa Join our Facebook group, the one-stop-shop for real estate investors to learn about tax strategy and stay up to date on changing tax laws: www.facebook.com/groups/taxsmartinvestors To become a client, request an initial consultation from Hall CPA, PLLC at www.therealestatecpa.com/become-client Follow Brandon on Twitter: @bhallcpa Follow Thomas on Twitter: @thomascastelli_ The Tax Smart Real Estate Investors podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

In this episode, Brandon and Thomas discuss how high-income earners use real estate to reduce tax even without the real estate professional status (REPS), or the STR Loophole. Plus, we answer questions from the Tax Smart Investors Facebook Group. Become a Tax Smart Insider today and claim your free bonuses today at www.taxsmartinvestors.com/insiders Enroll in our Tax Strategy Foundation for Limited Partners course: www.taxsmartinvestors.com/limitedpartners Subscribe to our YouTube channel: www.youtube.com/c/therealestatecpa Join our Facebook group, the one-stop-shop for real estate investors to learn about tax strategy and stay up to date on changing tax laws: www.facebook.com/groups/taxsmartinvestors To become a client, request an initial consultation from Hall CPA, PLLC at www.therealestatecpa.com/become-client Follow Brandon on Twitter: @bhallcpa Follow Thomas on Twitter: @thomascastelli_ The Tax Smart Real Estate Investors podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

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 episode of Weaver: Beyond the Numbers, On the Shop Floor podcast hosts Colby Horn and Kurtis Dixon examine the world of export incentives with Vince Houk, Weaver's partner-in-charge, International Tax Services. Together they discuss how companies can leverage these benefits to reduce taxes, offset costs and optimize their financial strategies.Key Points: • Export incentives yield permanent tax savings• IC-DISC and FDII offer tax advantages for international sales• Effective use of incentives boosts financial gainsExport incentives have emerged as a pivotal tool for companies, especially those in the M&D sector selling goods outside the U.S. These incentives offer permanent tax savings and mitigate unfavorable legislative changes such as R&D capitalization. This episode explores how businesses can maximize benefits, particularly after recent tax code changes. Vince emphasizes the importance of these incentives, specifically for maximizing benefits to offset costs. He further elaborates on the two main incentives from an export perspective, IC-DISC and FDII, explaining their nuances and potential benefits for different entities. IC-DISCs are for companies that manufacture in the U.S. and sell internationally. FDIIs are specifically for C corps that sell products outside of the U.S. to a foreign person for foreign use. With many clients engaging in significant international sales, Weaver regularly helps companies feel comfortable moving forward with these benefits. Subscribe and listen to future episodes of Weaver: On the Shop Floor on Apple Podcasts or Spotify.©2023

Randy Lagman, a seasoned expat residing in Colombia, unveils his expert strategies for eliminating state income tax while enjoying life overseas. This indispensable podcast is a must-listen for individuals aspiring to live or retire abroad, as it offers invaluable insights on saving money and smartly preparing for a seamless transition to international living. Mentioned in Podcast: Virtual Address Escapees.com Usglobalmail.com Adventure Freaksss other podcast with Randy on Colombia https://www.youtube.com/watch?v=CpntqMU9qIw Please Subscribe to our podcast on Youtube here: https://www.youtube.com/@adventurefreaksss

We've talked before about the 60/40 portfolio (60% stock, 40% bonds) and how horrible it performed last year.  Both stocks and bonds took a big hit.  Hear if David and Travis agree and if their is another portfolio allocation they prefer.   Protect, grow, and Reduce Taxes on your Wealth!    

Did you know your Social Security benefits in retirement could be 100% tax-free? Perhaps you didn't even know Social Security would be taxable as many of you paid into the system for decades! Today we will unpack how Social Security retirement benefits are taxed, and most importantly how to reduce taxes on those benefits in retirement. A few notes for the listeners: Provisional Income / Social Security Tax Rates for 2023 Individual Not Taxable: Less than $25k Up to 50% Taxable: $25k-$34k Up to 85% Taxable: Over $34k          Married Filing Jointly Not Taxable: Less than $32k Up to 50% Taxable $32k-$44k Up to 85% Taxable: More than $44k A helpful Kitces.com article https://www.kitces.com/blog/the-taxation-of-social-security-benefits-as-a-marginal-tax-rate-increase/

Welcome to another episode (#197!) of the Anderson Advisors Tax Tuesday show. Host Toby Mathis, Esq., joins our regular guest Eliot Thomas, Esq., Manager of Tax Advisors at Anderson Business Advisors, to help answer your questions. On today's episode, Eliot and Toby answer listener inquiries including the requirements and tax implications for selling your home to a relative in installments, how to minimize taxes on profits from crypto-trading, and the pros and cons to investing in stocks within a Roth or Regular IRA/401K. If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors. Highlights/Topics: "Is there a tax ramification of selling my personal home to my daughter via an installment sale? I have lived in the home for more than two years as a primary residence. Will I be able to still use their section 121 exclusion, even though I'm selling to a related party?" – You can sell to your daughter and still be eligible, provided we meet all the other boxes…You can sell to a related party, but you have to recognize all the gain up front. "I'm considering taking a small salary from my stock trading business. It's a dual LLC Partnership, which means a C-corp and a partnership through Anderson later this year if the C-corp ends up with taxable income. What are the tradeoffs of deferring that into a 401(k), both positives and negatives like income, payroll taxes, and benefit of paying those for Social Security calculation, et cetera?" - As Toby always says, this is a calculate, calculate, calculate moment. If you take it out as salary, then one consideration—there are a lot of different variables here—is your personal tax rate below 21%? "For our C-corp, we're aware that cleaning services of our personal residence can be deducted from our corporate taxes." It can? Well get into that. "Would the total expense of cleaning be a write-off or would only a portion of the total expense be a write-off since the entire house is not used for business? Would lawn services be treated the same way?" – if you are using part of it as a home office deduction or administrative office reimbursement deduction, either way, you can throw in an element for the cleaning… "When starting my Infinity Investing journey, should I start purchasing stocks inside of a type of retirement tax-deferred account of some sort, or should it be outside of that in order to use it for leverage or some real estate investing later?" - Here's the easy rule. If you're in a higher tax bracket than you will be when you retire, defer it. If you are in a lower tax bracket now than you will be when you retire, then put it in a Roth. "I have been learning and experimenting with earning dollars through crypto trading. Can you please tell me how to minimize taxes with profits earned through crypto platforms?" – we do the same trading partnership that we talked about earlier. Set up a partnership, put the account into that partnership. "My California CPA said that regardless of what type of entity I put my California rental property in, California will still want to get the $800 franchise tax board fee." The Board of Equalization fee. That's the minimum fee they charge. "Would that be true even with a Wyoming Statutory Trust?" - Chief Counsel's Office has already said it's treated as a business trust, and it's not taxable. It's not subject to the $800 a year, period, full stop. "Does a cash out refi adjust my basis and multifamily apartments? If not, how can we step up in basis before I sell if I have a lot of equity and depreciation already taken?" - Generally speaking, a refi, all you've done is you've changed your equity in your house into cash. You're just changing asset to asset. That doesn't change your depreciable basis in that property. "How does the Corporate Transparency Act impact the timing of real estate investment decisions from a tax efficiency perspective?" - It doesn't have any impact on your taxes whatsoever. This has nothing to do with taxes at all. I just wanted to get cleared out there for those who are listening. "In creating a living trust, is it necessary to pay capital gains tax on real estate assets as they are transferred into the trust?" - This is really simple too. There's no taxable transaction moving assets into a living trust. It's a revocable grantor trust. You haven't done anything in the way of taxes. "I have carried a $600,000 loss since 2011. I am a real estate professional with an S-corp. Is there an alternate way to use that? I can't live long enough at the $20,000–$25,000 max deduction." - You need passive income. You need lots of passive income to wipe out that passive loss. You want to recognize that passive income. You probably don't want to be a real estate professional. 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 YouTube http://aba.link/youtube Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq  

Have you ever? • Gotten Paid and realized the check was spent before it hit your account? • Wanted to qualify for a purchase, but found your credit score anchored to your past • Wondered if you and your spouse would be together until DEBT did you part If you answered yes to any of these questions, Income Shifting is for you! Richard Hardon is a Business Transformation Expert, specializing in the innovative use of systems, strategies and solutions to help enterprises and individuals get from where they are to where they want to be. Born and raised in Atlanta, Georgia, Richard received his formal training at Duke University where he received Dual Degrees in Electrical Engineering and Computer Science. After Completing his formal education he's earned advanced degrees and REAL EDUCATION from UHK, the University of Hard Knocks. At the center of this Hard Knocks Education was the fact that Personal Financial Success Topics were not taught in schools. In the path to Financial Literacy Richard discovered the importance of discipline, budgeting and leverage in the creation of Cashflow. Always looking for strategies to help ordinary working people develop practical strategies to understand and achieve wealth. Richard is one of the leading advocates of the Income Shifting a set of strategies designed to put more of your money into your pockets so that your money makes more money. He's partnered with a team of experts who help Reduce Taxes, Debt and Expenses, Generate Passive Income, Establish Trusts and Wealth Accumulation Strategies like Private Banking. A one stop shop for the Ultimate Cashflow System. As a Speaker and Motivator he has been recognized Internationally by Toastmasters International and the National Speakers Association as one of the top 5 Georgia Speakers for more than a decade. Many companies, social and business groups around the Country, have been motivated by his message of untapped power in each person. Richard is noted for his energetic style and passionate sincere delivery. Today Mr. Hardon will share some key components of his Financial Fitness Regimen to help us Get our Financial Houses in Order through the Power of Income Shifting. Help me welcome Financial Educator and Business Success Coach ….Richard Hardon. What You Will Learn: Who is Richard Hardon? How did he decide to enter the Reral Estate industry? You need to form a team and strategy to elevate your cashflow. Becoming a business owner teaches you to become income control. Time is money. Have a community that talk about money, ideas, cash flow and assets.  Nobody can help everybody but somebody can help somebody. Richard shares how he can be contacted. Additional Resources from Richard Hardon: Website: http://massivepassivecashflow.info/ Phone: +1 (770) 312-2323  Email: rick@powerbuildersteam.com LinkedIn: https://www.linkedin.com/in/richardhardon/ Facebook: https://www.facebook.com/richardhardon YouTube: http://www.youtube.com/user/rickpowerbuilder Attention Investors and Agents Are you looking to grow your business? Need to connect with aggressive like-minded people like yourself? We have all the right tools, knowledge, and coaching to positively effect your bottom line. Visit:http://globalinvestoragent.com/join-gia-team to see what we can offer and to schedule your FREE consultation! Our NEW book is out...order yours NOW!   Global Investor Agent: How Do You Thrive Not Just Survive in a Market Shift? Get your copy here: https://amzn.to/3SV0khX HEY! You should be in class this coming Monday (MNL). It's Free and packed with actions you should take now! Here's the link to register: https://us02web.zoom.us/webinar/register/WN_sNMjT-5DTIakCFO2ronDCg

Are you a physician who owns a practice and has children? This episode is for you. We are delving into the benefits of employing your children in your business and the opportunities provided by the IRS, such as decreased household taxes due to the lower tax rates applicable to children. Learn more: https://apmsuccess.com/202 Watch the video: https://apmsuccess.com/202v       

40+ years ago, retiring early wasn't really a thing. It was common for our parents and grandparents to work into their late 60's and 70's without blinking an eye. Today, many are looking to exit the rat race and retire much sooner. In this episode of Blind Spots, we outline 4 things you should consider if you want to retire early. Early Retirees: Save Money on Healthcare & Reduce Taxes: https://spotifyanchor-web.app.link/e/nVyIeimmGAb w. pureportfolios.com p. 1 (877) 261-0015 e. insight@pureportfolios.com Investment advisory services offered through Pure Portfolios, a Registered Investment Advisor with the U.S. Securities and Exchange Commission.This material is intended for informational purposes only. It should not be construed as legal or tax advice and is not intended to replace the advice of a qualified attorney or tax advisor. This information is not an offer or a solicitation to buy or sell securities. The information contained may have been compiled from third party sources and is believed to be reliable.

Roth conversions are definitely gaining lots of popularity, especially with the Tax Cuts and Jobs Act of 2017 expiring in 2026. Because of this, I have noticed consumers believe they should automatically start converting their IRAs and 401ks to Roth accounts! First and foremost, you have to run the numbers. For every scenario that is a "home run" like the one I'll discuss today, there is a scenario where it does not make sense. Or, perhaps the time isn't right (yet). Make sure to check out this latest episode to hear the first of our three-part series from our recent educational workshop, "How to Reduce Taxes in Retirement." Enjoy!

Download my new special report - How to Use Inflation to Your Advantage - www.bronsonequity.com/inflation If you're a high earner and want to reduce, defer, or eliminate taxes, you won't want to miss this episode.  We are joined today by Keith Blackborg. Keith is a financial consultant, CPA, investor, and tax strategist. At the age of 30, Keith and his wife, Jessica, had become self-made millionaires. As a result of their investments, they were able to retire after less than ten years of working. They now help others achieve financial independence as well. Tune in to learn about Keith's unique strategies and how you can make better financial decisions! TIMESTAMPS 00:13 - Guest Introduction: Keith Blackborg 00:53 - Keith's background 02:50 - Issues in the marketplace 06:04 - Usual advice 07:44 - Discounted Rollovers 10:34 - At what amount it makes sense 12:58 - Strategies for business owners 14:39 - Getting people comfortable with alternative assets 16:31 - Entity protection and why it's important for high net worth individuals 19:25 - Never making wealth your priority 21:42 - Keith's Investments 24:27 - Connect with Keith 25:07 - Episode Recap Connecting with the Guest: Website: www.financialjourney.lifeUpcoming Passive Investor Event: www.passiveinvestorevent.com Linkedin: https://www.linkedin.com/in/keithblackborg/ #passivewealth #passiveinvesting #reducetaxes

On today's Friday Q&A show we discuss: 00:47 How do I reduce my taxes in retirement? 19:08 How do I transfer my money abroad when I move abroad? 34:20 What country should I go to where things are better than the USA? 1:15:31 How do I set up an archive of all of my personal information products? 1:32:02 How do I work with my siblings to provide proper care for mom and dad? 2:07:12 I got ripped off! Now what can I do? Joshua Join me on next week's Q&A call: https://patreon.com/radicalpersonalfinance  Buy my newest course: www.HowToRetireSuccessfully.com  And learn how to set up an International escape plan: www.InternationalEscapePlan.com  Buy Bitcoin Privately www.BitcoinPrivacyCourse.com 

Which investments should go in your traditional IRA vs your Roth IRA, and does that asset location depend on your age? Learn how to generate “tax alpha” to get better returns on your investments. Plus, Joe and Big Al spitball whether to roll a TIAA 403(b) to an IRA or take the annuity, and they spitball retirement and Roth conversion and Roth contribution strategies for an overseas officer with a military pension, and for Americans working abroad who qualify for the foreign earned income exclusion. Timestamps: 00:51 - Best Assets to Hold in Traditional IRA and Roth IRA? (Michael, Colorado - voice) 7:40 - Is Investment Asset Location Dependent on Age? (Glen)  11:35 - TIAA 403(b): Take the Annuity or Roll to an IRA? (Brad, Northeast TN) 19:34 - Military Pension Spitball: Overseas Officer with Fluctuating Income & Taxes (US Grant, Alexandria, VA... usually) 24:29 - Foreign Earned Income Exclusion & Roth 401(k) Rules (Jeff, Singapore via North Dakota) 31:32 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-422: Why Asset Location Matters Guide Register for our free 2023 tax planning webinar, March 29, 12pm PT/3pm ET Schedule a free financial assessment Episode Transcript Ask Joe & Big Al On Air

What are some strategies available for business owners and real estate professionals to decrease their taxes? Tim Gertz, CPA and Partner at Provision Wealth, will be exploring these scenarios with us. Read this entire interview here: bit.ly/42kvJk2 For business owners, including law firms, dentists, etc, what are some tax strategies available? The tax code is created for you. That is the incentive based model that has been created for you as a business owner to create wealth, or to create jobs, and more opportunity for them to tax more people. For business owners, the sky's the limit. In order to take a deduction under the code, it has to be ordinary and necessary for what you're doing. Every business is different, but as long as you can look at your business and make sure that you align your facts with what you're trying to do, you can duck almost everything. There are huge opportunities, we still have bonus depreciation in play. If you buy any equipment, meals, travel, auto expense, home office, it continues to go on. The inflation Reduction Act included huge opportunities for solar, if you have a commercial office building, you can put solar on it, you can get up to a 70% tax credit this year on that. On top of that, if you don't have a tax liability, the IRS has given you an opportunity to sell your tax credits. Not only do you have the opportunity to get a tax credit, but if you can't use it, you can sell it. Secure Act 2.0, which was signed into law in December, as incentives for setting up retirement accounts, where they will pay for the setup of the retirement account. It will be a dollar for dollar credit. When you look at businesses, look at what are you trying to do, and align yourself to what you're trying to accomplish, then everything would be deductible. If you're saying: I want to do this, then what is it that I need to do to make this an ordinary necessary deduction so that I'm aligned with the law, and I'm not doing anything that's in the gray areas, but it's ordinary and necessary, so I can deduct it. For real estate professionals – what are the tax benefits for them? Is this the best profession for tax purposes? It is. There are nuances here and there, a lot of times, I've a lot of people that are active in business A: the husband has a business, he is a dentist for example, and the wife is a real estate professional. That gives us an opportunity. Real estate professionals are huge, especially after 2017 with the advent of bonus depreciation on used assets, now we are able to create this huge loss in real estate that can offset all the income in this business that the other spouse has. Being a real estate professional does open a lot of opportunities. You're investing in an asset class that has been in a storied past of growth and appreciation. It's also a great asset to invest in. It's kind of a double whammy in that regard. The Inflation Reduction Act was huge. Whether you're a business owner, whether you own real estate, whether you're buying an electric car, whatever it might be, talk to someone about it. A client is putting a solar installation on their commercial building, and they're getting about a 90% credit. You're putting a $10 million dollar solar array, and getting a $9 million credit, which you can also sell, and you might be able to sell it for 90 cents on the dollar. Tim Gertz www.provisionwealth.com contact@provisionwealth.com --- Support this podcast: https://anchor.fm/best-commercial-retail-real-estate-investing-advice-ever/support

How can you reduce your taxes if you are a W-2 employee that is single, or a W-2 employee with a spouse that doesn't work? This is a topic we have been wanting to cover for a while and Tim Gertz, partner at Provision Wealth will share his insights. Read this entire interview here: bit.ly/3T66wp7 Tax can be confusing and we all want to reduce our taxes. Let's break it down into different scenarios, starting with W-2 employees that are high earners and are not married. Some would ask: what's the best tax planning advice for someone that single and a high W-2 earner, the joke is to get married! The tax laws incentivize you to: grow industry to create products, create revenue, create workforce, that can be taxed. Unfortunately, as a W-2 employee, you are in this little box where your opportunities are very minimal. There are still some opportunities such as: oil and gas investing. It can be very advantageous because it is outside of the material participation rules of the passive activity loss rules. You can invest in an oil and gas fund and have no involvement in it and be able to offset W-2 income. It's one of the few carve outs in code section 469 that gives us that opportunity. Another thing with the Inflation Reduction Act, it bumped up tax credits for energy efficiency. It reinstated the 30% tax credit on solar on residential properties. It increased the tax credits for vehicles, used vehicles, various energy efficient systems, whether it's HVAC, or things of that nature. Those are definitely things that you can look at to offset tax on W-2 taxable income. One of the other opportunities if you are an individual that does itemize deductions, an opportunity is called deduction stacking. Especially with charitable contributions. For example, instead of giving $10,000 every year, you give $20,000 this year, then nothing the next year, then $20,000 the following year, and you flip flop between itemized and standard deductions. What about W-2 employees with a spouse that does not work. What are their options? This scenario opens up a huge opportunity. If the spouse wants to be involved in activities, they can look at: What is it that they want to do? Do they want to open a business? Do they want to operate a business? Do they want to invest in real estate and become a real estate professional? One of the nice things about being married is that your income is combined, and your income and losses are combined. If you've an individual that's a W-2 high wage earner, and you have a spouse that is a real estate professional, and you invest in real estate that throws off half a million dollars of losses every year. Because they spouse is active in real estate, that loss is active. Now we have an active loss, and we have active income from W-2 that are married to each other, then they will offset each other. It doesn't have to be a real estate professional because that's where a lot of people are investing in. It can be any activity, it can be any business that someone materially participates in. It could be: coin laundry, things of that nature, things that are highly capital intensive, that have a lot of equipment on the upfront that can be depreciated. That can create a loss that will create an active loss. If they're active in it and materially participate in that activity, it will offset the W-2 income. A real estate professional has to: 1. Work 750 hours in real estate activities. 2. Do that more than any other income producing activity. Tim Gertz www.provisionwealth.com contact@provisionwealth.com --- Support this podcast: https://anchor.fm/best-commercial-retail-real-estate-investing-advice-ever/support

Discover how to reduce taxes with commercial real estate using powerful tax saving tools only available to real estate professionals. In this podcast you'll learn how the smartest investors build their portfolios to become real estate professionals and take advantage of the same tax saving strategies multi-millionaires use to create incredible wealth.

Tax Tuesday is here again. Toby Mathis hosts, with special guest Eliot Thomas from Anderson Advisors, here to help answer your questions. On today's episode, Eliot has grabbed a bunch of great questions for us to answer. Toby and Eliot will talk about the Augusta rule, easy tax deductions against W-2 income, cost segregation, bonus depreciation, real estate professional status, active participation, S-Corp, C-Corp and partnership advantages.  Online, we have Ander, Patti, Ian, Dana, Matthew, Jared, Piao, Tanya, Troy, and Dutch, a multitude of CPAs, by the way, in our Q&A. If you ask questions in Q&A, you're going to get really, really smart people answering that question. Toby sends out a a huge public thank you to all these talented people. If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors. Highlights/Topics: "I'm selling a property that was willed to be in 2019. I've been renting this property out since receiving it. It will sell for a profit of over $360,000. Would I pay taxes on the full profit or the difference between value at the time the property was willed or do I pay taxes on the difference between the profit and $250,000?” - You inherited it in 2019. It says you've immediately started renting it out, so it's an investment property. It's not going to qualify for the capital gain exclusion of living in our primary residence for two of the last five years. "What are some simple easy things that can be done to reduce taxable income and reduce taxes paid on each of my paychecks?” Donate to charity in large chunks, HSA, IRAs, etc. "Options for tax write-off, reducing tax burden if I have rental real estate, but I am not a full-time real estate professional. Both my wife and I have W-2 jobs that we don't foresee leaving anytime soon to become real estate investors." - See the answer to previous question, and also you want to look at if your AGI (adjusted gross income) is a little bit lower, maybe under $100,000, you can take up to $25,000 of the passive losses. "Augusta Rule: We have put our properties in a Wyoming entity and the Texas series LLC in late December of 2022, but have not started using it yet. Can we use the Augusta Rule in 2022 throughout the year for our business purposes, even though we've not completed setting up the business?" Augusta Rule, that's just what we call 280A most often. That's the ability to rent out your home. Dwelling is the proper term for no more than 14 days a calendar year. The income you receive, you don't have to pay tax on. “When a rehab required property acquired for long-term hold, when is the right time to do the cost segregation study? Before the rehab or after?" - Once you purchase a property or after the rehab, you could do it either way. If you don't do what's called a cost seg study, the IRS will let you treat it all as 27½ years… "Anderson created my S-corp entity in November of 2022. I've only had expenses for the year-end 2022, but no income or property purchases yet. What am I required to file for my S-corp regarding the expenses I've incurred?" – You're going to have to file your tax return for that S-corp. It is what we call an informational return. In other words, your S-corp doesn't pay any tax, but it does have a tax return called an 1120-S. "I created my two LLCs both with real estate assets with rental income in 2022. Also, I created a holding company that holds both the LLCs. I have a W-2 job. When do I file the tax for the holding company? Is it one tax filing that combines all the LLCs and my W-2?” - We recommend that the holding company becomes a partnership. Also, it helps from a lending standpoint. Typically, lenders are able to lend more to you being that the property is in a partnership than if it had been in a direct disregarded LLC. "Curious to hear an open discussion about one and how to utilize section 179 and/or bonus depreciation for vehicles." - Why not just do mileage reimbursement? It's like 65.5¢ a mile right now. It's your car. You can use non-commercial insurance. It could just be your car that you use. If you let employees use it, that goes out the window. "What are the steps to take in order to withdraw money from a C-corp account? Are there any tax consequences involved?" - With a C-corporation, the first thing I'd like to look at are the reimbursements… "How to save taxes as S-corp, and is it better to do an STD deduction?" - The S-corp has a lot of advantages to it to save on taxes. Standard deduction is huge for most people. But “it depends”. "Can you please touch upon what depreciation recapture is and how it impacts taxes?" - Basically, when you have an asset that's been used in a trade or business, we don't deduct the full cost of it immediately. We take a little bit over time, we call it depreciation. Then when you resell, you might have what's called depreciation recapture on that depreciation that you took over the years. It does depend on what kind of asset it is. "I work from my home office. How do I claim this?" - If you have a sole proprietorship, you can take a deduction for basically the percentage square use of that house, that's an easy way to describe it. If you could get reimbursed, then it could be 20% of your house. By the way, that includes mortgage interest, property taxes. If you have somebody coming in cleaning your house, your utilities. Be sure to subscribe to our podcast. And if you are already a subscriber, please provide us a review of what you thought! 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

You might be looking for tax loopholes for doctors as we enter everyone's favorite time of year. The truth is there are tips and tricks that you likely are not taking advantage of as a doctor that will help you reduce your taxes. In this episode, we will give you the top things you can do now (and for the future) to save money on your taxes as a doctor.  Looking for own-occcupation disability insurance check out → setforlifeinsurance.com Looking to increase your financial literacy?  Check out Medical Degree Financial University → thephysicianphilosopher.com/MDFU

Mark Myers is the Founder and CEO of Peak Profit Solutions.  Mark helps individuals reduce or eliminate tax without replacing their CPAs or financial investment advisors. Mark is a former Marine Corp Sergeant that brings over 20 years of successful business operation, ownership and high level consulting experience to the table for the clients and financial advisors he services.  His company Peak Profit Solutions and its affiliate partners have helped thousands of individuals increase profit and permanently reduce their annual tax bill to help them better grow their business and accelerate their wealth.   During the show we discuss: How to Increase the Profits in Your Business  Why Most Business Owners Pay More Than They Should in Taxes Examples of How to Work Within the Tax Code to Take Advantage of Opportunities Why You Need to Tax Action Early to Save a Lot on Taxes The Moves You MUST Make Before Selling Your Business to Avoid Taxes How to Eliminate Long-Term Capital Gains When Selling Assets that Have Risen in Value How to Avoid Long-Term Capital Gains on Sale of Property How to Reduce Long-Term Capital Gains How to Negate Capital Gains Strategies that Help W2 Wage Earners Save on Taxes  How Long You Have to Keep a Property to Avoid Capital Gains Tax How to Avoid Paying Capital Gains Tax on a Rental Property How to Avoid Capital Gains Tax on a Second Property How to Roll Capital Gains into Another Property   Show resources: https://peakprofitsolutions.com/

Catherine Tindall is a CPA specializing in advanced tax reduction who proactively works with clients to reduce what they pay in tax while supporting their greater wealth-building and life goals. Her goal for every client is to provide a return on investment, in the first year, usually $15,000-100k+ in tax savings. With a focus on automation, Catherine and her team set themselves apart by utilizing technology whenever possible to streamline their advisory services and to offer those services to anyone no matter where they are located. She is especially passionate about providing tools to support entrepreneurs and small business owners in navigating the changing tax landscape, as well as helping them reduce their overall tax burden through proactive strategies and advisory.   During the show we discuss: The benefits of taxes to our economy How to ensure that you are in the right path with your taxes The benefits of tax planning How to set your tax goals Tax planning strategies How business owners can save in tax Why it is a good idea to work proactively with their tax professional Other benefits you can get in working with taxes professional and taxes itself How to maximize your tax benefits How to know if you are eligible for the different tax benefits What tax credits are and how to use it How to utilize COVID pandemic tax credits How to receive charitable tax deductions Ways to reduce your tax payments How to reduce your tax payments How to avoid taxes (if possible)   Show resources: https://dominiones.com/

ABOUT DANIEL HOLMLUNDDaniel Holmlund is a managing partner of Good Samaritan Capital LLC, a private real estate investment firm that specializes in multifamily acquisitions. Daniel founded Good Samaritan Capital because he strongly believes that investors can realize great returns while building and helping communities. He is also working as Software Engineer at Intel where he started the Real estate education club to help his colleagues enjoy passive investing and live a life of financial freedom. Daniel enjoys reading, podcasts, real estate investing, and being with his wife and three kids.                  THIS TOPIC IN A NUTSHELL: [01:15] Daniel's career background [02:39] Experience with working for partners overseas [06:10] Getting into multifamily [08:15] Daniel's favorite part of RE investing[09:47] tax benefits of REI   [10:47] 3 Strategies for W2 employees to reduce taxes [12:31] Land conservation easements[16:22] Purchasing Short term rentals[18:50] Investing in other Syndication as Limited partners  [20:00] Partnership with operators [21:45] Criteria of their investments [22:33] Difference between being an LP vs. raising capital for operators[22:45] 4 Pillars of risk for Limited Partners [26:00] Markets where they invest and Fund to fund model [27:56] Running a Real estate education club at Intel[30:37] Advice to his 25-year-old self [31:53] First entrepreneurial endeavor[34:47] Formal and informal training that shaped his journey[37:23] Biggest mistake that shaped his journey[40:02] How to reach out to Daniel       KEYWORD: Conservation easement - a voluntary, written agreement between a landowner and the “holder” of the conservation easement under which a landowner voluntarily restricts certain uses of the property to protect its natural, productive, or cultural features.   KEY QUOTE: [02:45] You'll find out what your partner is like when things are going poorly, not when things are going great.  [04:13] In my opinion, a worst-case scenario in real estate is a whole lot better than the stock market. In the stock market, you're stuck and good as zero, in real estate you have collateral, you have insurance, and you have a mortgage potentially that you can foreclose on. There are ways that you can get your money back.   [05:51] When times are hard, have long-term debt. If you can't have your place free and clear, which I don't recommend I think debt gives you leverage which is a great benefit to real estate. So have long-term debts you can get through bad times.   [09:10] One of my favorite parts of Real estate investing is Tax savings. I'd like to pay as little taxes as possible. I'm hoping this year or maybe next year I'll actually get down to zero taxes. [24:40] General partners get their equity from working, and limited partners get their equity by capital. A general partner should also be a limited partner, they should be working and putting in their capital. So as a GP, you have to understand the process, and the people you're working with and it is a lot of work. If you have the capital, then being an LP is a great way to go.      SUMMARY OF BUSINESS:Good Samaritan Capital is a leading real estate syndication company. We offer our investment partners the opportunity to leverage shares of multifamily rental properties into a passive monthly income. Our experienced investment team thoroughly evaluates properties to find assets that have vast potential but are currently devalued due to disengaged management. Once identified, we aggressively act on acquiring and improving the asset, with a proven property enhancement and management plan, resulting in exceptional returns for our investment partners. ABOUT THE WESTSIDE INVESTORS NETWORK   The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.      The Westside Investors Network strives to bring knowledge and education to real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.          #realestate #realestateinvesting #passiveincome #passiveinvesting #realestateinvestor #realestateinvestment #REinvesting #multifamily #educationclub #landconversationeasements #taxsavings #taxbenefits #W2employees #taxstrategies #diversifiedlocations #raisingcapital #limitedpartners #generalpartners #operators #fundmanagers #PillarsOfRisk #fundtofundmodel #newepisode #podcasting #passivewealth #assetcreation #RoadToFinancialFreedom #WIN #JointheWINpod #WestsideInvestorsNetwork    CONNECT WITH DANIEL HOLMLUND: Email: daniel@goodsamaritancapital.com Schedule an Investor Introduction Call: https://calendly.com/daniel-holmlund/investor-intro-call Facebook: https://www.facebook.com/danielwholmlund LinkedIn: https://www.linkedin.com/in/daniel-holmlund/ Check out Daniel's coaching program here: The Creating Real Estate Partnerships Bootcamp    CONNECT WITH US   For more information about investing with AJ and Chris:  ·    Uptown Syndication | https://www.uptownsyndication.com/  ·    LinkedIn | https://www.linkedin.com/company/71673294/admin/         For information on Portland Property Management:  ·    Uptown Properties | http://www.uptownpm.com  ·    Youtube | @UptownProperties      Westside Investors Network  ·    Website | https://www.westsideinvestorsnetwork.com/  ·    Twitter | https://twitter.com/WIN_pdx  ·    Instagram | @westsideinvestorsnetwork  ·    LinkedIn | https://www.linkedin.com/groups/13949165/  ·    Facebook | @WestsideInvestorsNetwork  ·    Youtube | @WestsideInvestorsNetwork  

“The whole idea behind Cost Segregation is to take your deduction today at the highest rate at my ordinary income rate.” Business owners,  particularly real estate owners, pay a staggering amount of taxes. In this episode, cost segregation specialist Erik Oliver will explain how the method can improve cash flow, enable realtors to take advantage of accelerated depreciation discounts, and more. You'll be able to save millions of dollars in taxes.