49:00 If I purchase one as a primary residence and rent the side apartment, what are my options for tax savings? Am I able to write off any expenses for that portion of the house (mortgage, taxes, utilities, etc)?

Toby Mathis, Esq. answers these questions along with Jeff Webb, CPA and more during this episode of Tax Tuesday, a bi-weekly FREE LIVE webinar event.

0:00 - Intro

5:34 - Questions

12:08 - Can losses from real estate syndications (i.e. accelerated depreciation) be taken against active income (i.e. W-2) if you or your spouse are REPS, or are there more criteria to pass?

20:58 Can I owner finance or lease purchase a property that currently has a mortgage on my personal name and the deed is titled on my LLC?

23:02 I have a non-profit that provides affordable housing. Can the non-profit invest in other avenues like private money lending, real estate fund, real estate notes? Can it also partner in joint ventures with others in acquisitions of property? Can my non-profit partner with my LLC?

26:57 I'm trying to buy a short-term rental. If I sign for the loan personally and title the property in an LLC would that be considered as mingling personal assets with LLC to break the corporate veil?

32:22 I receive PSU and PSU stock from the company I work for. What are the advantages to "net shares" over "funds at distribution"? With net shares, I do not have cash taken from my account to cover the taxes. I only receive the number of shares after the equivalent shares have been sold to cover taxes.

38:03 Drivers for Grubhub, Doordash, etc... can you document your start and end mileage from a central area… as you are required at the start of shift to be in your assigned area? If this is not correct, how do you document it?

40:38 Can I start filing taxes for the LLCs I created for two of my rental homes, even though the real property deeds have not yet been transferred/filed/recorded to said LLCs?

43:09 I'm just starting out in real estate. I saw you on Gogo's weekly meeting. I'm wondering if in my first year with very little in sales should I register as an LLC taxed as an S-Corp or file as I normally would?

49:00 In the part of New York where I live there are mother-and-daughter houses. If I purchase one as a primary residence and rent the side apartment, what are my options for tax savings? Am I able to write off any expenses for that portion of the house (mortgage, taxes, utilities, etc)? Am I able to depreciate that portion of the house?

53:04 What is the best way to handle money that was gifted to children ages 1 and 3 years old? What can I do with it so it doesn't affect them now and they could access the money at age 16 or 18 without penalties or fees?

56:59 Can I sell my apartment building on an installment plan to avoid the large amount of taxes owed when I sell? Can I do a double Escrow to accomplish this because I still have a small loan on the property?

59:37 Should my personal bank accounts and life insurance policies be owned by the same trust?

1:02:35 Are charitable contributions made from our partnership considered tax-deductible?
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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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