Small Business Structure - Choosing The Right Structure For Tax Reduction | Tax Tuesday #189

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49:49 Which organizational structure is audited the least and provides the lowest tax liability for small businesses?

Welcome back to another installment of Tax Tuesday! Tune in as Toby Mathis, Esq. and Eliot Thomas, Esq. break down your tax questions.

0:00 Intro

7:58 Questions

12:50 What is an installment sale on real estate? How do you utilize it within the tax code?

18:25 What happens to accumulated depreciation on a rental property when the owner passes away?

24:22 I received a 1099 INT from a bankrupt crypto company I invested with called Celsius. The money on the 1099 never touched my bank account and is currently locked in a crypto wallet on their website for the last 8 months. Do I need to pay taxes on the money I never received or can I leave it until the bankruptcy is resolved?

28:05 How does the tax law treat the hiring of children by an LLC? At what age can they be hired? Which circular(s) discuss this?

32:54 I am using my home office and depreciating part of the house. Will it appear on my taxes once I sell it?

36:23 Are there any tax deductions for real estate held in a self-directed individual retirement account (SDIRA)?

38:00 What are S corporation taxes with shared distributions? When it’s time to file taxes do we pay taxes for all shared distributions?

44:23 I started a Limited Liability Company (LLC) C corporation with Anderson Advisors in October 2022 for REI. Can I still write it off? I used my personal credit card to make purchases. Did I break the corporate veil since I do not have a business credit card?

49:49 Which organizational structure is audited the least and provides the lowest tax liability for small businesses?

54:11 How do I best utilize my C corporation status for tax savings and investing in real estate?

58:45 Outro
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ABOUT TOBY MATHIS
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

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1969 - both stocks and bonds dropped - so... rare

morcyclemark
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I may have the dumbest questions but where should I visit to join as a platinum member?

manleynelson
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What does this stuff have to do with small business structure??? Nothing!!!

beckybrynjolfsson