Learn about Real Estate & Asset Protection at our next ALL DAY FREE LIVESTREAM 9 AM to 4 PM PT. Our attorneys and specialists answer ALL questions you bring to us at this event we have two times a month. Save Your Seat: aba.link/39bb66
Love your content Toby! I have a question about offsetting passive depreciation and income from cashing out my IRA before I'm 59 1/2. First, my wife is a Realtor and I am a home builder and own a construction business. I also have an LLC and invest in Syndications for multifamily housing. We also own single family rentals. 1. Is there any way to avoid paying the 10% penalty from early withdrawal. 2. Can my depreciation from my rentals and Syndication K-1 depreciation offset the income I take from cashing out the IRA, to invest in Real Estate. Can you do a video that addresses this? Thanks Toby!
Great video! Alot of great ideas. I've been thinking of retiring to the Vegas/Henderson area to save on taxes. May invest in property there too. SoCal is very expensive to live and for taxation😕
Toby could you please do a video about schedule R tax credit for the disabled and elderly i understand it could save people 5 to 7 thousand dollars on their tax bill no one seems to be talking about this can you do a video on it
Great idea. My first house was a triplex.I loved in one rented 2. I think we depreciated the 2 rental units. Now I rent 3. It's been a great property-rents have gone up, property value up.
No more deductions after 27.5 years; it's fully depreciated. So in his example of a property that you buy for $1M, $200K of which is land, then after 27.5 years the tax basis is now $200K (the other $800K being fully depreciated). And so if you sell it for $1.5M, you'd have $1.3M of capital gain.
The wise stay financial stable by spending less and investing more and the unwise remains poor by spending more and yet not investing like the wise ones do.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don't know who agrees with me but either way I recommend either real estate or crypto and stocks
Excellent video(s). However, in reviewing your Yelp rating, some of the comments from your clients are somewhat discouraged. I am looking for someone like yourself to work with but I am afraid that I am going to end up some trainee who either have no idea or no experience.
We would recommend checking our our profile on the BBB website. We also offer free consolations if you ever want to gain a feel for the quality Anderson provides.
Hey Toby. What about the RV rental business on say Outdoorsy or RVshare. I plan to rent it out as a daily or weekly rental, can it be considered an Airbnb? Say I bought one for $100,000 how would I be able to deduct the cost as a business expense or payback to me?
Hi Toby, would u or Clint be able to do a video on proper asset protection in California where there is a primary residence + a detached ADU on the same parcel? The ADU in this case would have a separate address. Thanks
Learn about Real Estate & Asset Protection at our next ALL DAY FREE LIVESTREAM 9 AM to 4 PM PT. Our attorneys and specialists answer ALL questions you bring to us at this event we have two times a month. Save Your Seat: aba.link/39bb66
Excellent information GreAt video in the morning and waiting for the afternoon Tuesday. Thank you for me is like college.
Hi Toby, It's a great video!. I was wondering would you make any video on Offshore(Foreign) rental property? US Taxes/Dual Taxes/LLC consequences?
We will consider it.
@@TobyMathis Thanks!
Thank you!
You're welcome!
Love your content Toby!
I have a question about offsetting passive depreciation and income from cashing out my IRA before I'm 59 1/2.
First, my wife is a Realtor and I am a home builder and own a construction business. I also have an LLC and invest in Syndications for multifamily housing. We also own single family rentals.
1. Is there any way to avoid paying the 10% penalty from early withdrawal.
2. Can my depreciation from my rentals and Syndication K-1 depreciation offset the income I take from cashing out the IRA, to invest in Real Estate.
Can you do a video that addresses this?
Thanks Toby!
Hi Tobby, I built 3-5 new homes a yr. How do I make the transfer from my new built home to a rental or AirBnB?
I guess it is only related to American taxation system. Living in Australia would have different methods and options, wouldn’t it?
Great video! Alot of great ideas. I've been thinking of retiring to the Vegas/Henderson area to save on taxes. May invest in property there too. SoCal is very expensive to live and for taxation😕
I have an S Corp, how can I lower taxes through real estate. Would love a video with details
Toby could you please do a video about schedule R tax credit for the disabled and elderly i understand it could save people 5 to 7 thousand dollars on their tax bill no one seems to be talking about this can you do a video on it
What if you buy a 2 family house, live in 1 apartment and rent out the other. Can you depreciate?
Great idea. My first house was a triplex.I loved in one rented 2. I think we depreciated the 2 rental units. Now I rent 3. It's been a great property-rents have gone up, property value up.
Can you speak to airplane bonus depreciation.
I only have one property and don't plan on getting anymore. Is one house pretty cut and dry as far as tax advantages?
What happened if you have full time job, will it impacts on the 10-Red Pro/activity 25k, or qualify for the 25K loss?
What is a normal fee for a professional tax preparation that has all the knowledge in real estate investing tax prep
You can set up a free consultation here: aba.link/ame
And what happens to the deductions after 27.5 years?
No more deductions after 27.5 years; it's fully depreciated. So in his example of a property that you buy for $1M, $200K of which is land, then after 27.5 years the tax basis is now $200K (the other $800K being fully depreciated). And so if you sell it for $1.5M, you'd have $1.3M of capital gain.
The wise stay financial stable by spending less and investing more and the unwise remains poor by spending more and yet not investing like the wise ones do.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don't know who agrees with me but either way I recommend either real estate or crypto and stocks
Excellent video(s). However, in reviewing your Yelp rating, some of the comments from your clients are somewhat discouraged. I am looking for someone like yourself to work with but I am afraid that I am going to end up some trainee who either have no idea or no experience.
We would recommend checking our our profile on the BBB website. We also offer free consolations if you ever want to gain a feel for the quality Anderson provides.
👍❣👋🐢
Don’t get 1099’s
Hey Toby. What about the RV rental business on say Outdoorsy or RVshare. I plan to rent it out as a daily or weekly rental, can it be considered an Airbnb? Say I bought one for $100,000 how would I be able to deduct the cost as a business expense or payback to me?
Great video, very informative! 🙏
Toby, let me be your Spanish interpreter. I am translating all info and teaching my audience.
Hi Toby, I’m in CA and my wife wants a CA based attorney that we can talk to. Do you have an office/referral in the SF bay area?
While we do not have a physical location in CA, we do operate there. Here is a link to our website andersonadvisors.com/
Hello- do you have an office in Illinois?
@@TobyMathisdo you have an office in Illinois?
Thanks your the Best
Hi Toby, would u or Clint be able to do a video on proper asset protection in California where there is a primary residence + a detached ADU on the same parcel? The ADU in this case would have a separate address. Thanks
Great suggestion! We will make a note of it!
for depression acceleration, it has to be with the year the property was built?
Depression? Haha