Can You Benefit From A Cost Segregation At Any Time? | Tax Tuesday

39:41 Can you benefit from cost segregation at any time?
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0:00 Intro
10:21 When dissolving a c-corporation with a single shareholder and having a net operating loss, does the loss go on the shareholder's personal return and can the loss be offset against personal income?
15:16 I jointly own an inherited property that is currently on the market. Can the expenses that I have: utilities, staging, maintenance, repairs, taxes: be added to the cost value?
23:32 My wife's father wants to sign his house over to us and to her brother. What tax advantage is that for her dad, and what tax issues does it raise for us?
30:21 When you have a C Corp (no income at this point), a Wyoming LLC that owns 2 LLC with rentals, which entity pays for general expenses like membership, cellphone, Internet, education, etc?
34:41 How does paying your child (under 18) help with tax, if any?
39:41 Can you benefit from cost segregation at any time?
50:49 Need to move from sole proprietor to some form of business entity. I am an active trader doing well and want to protect my account as well as provide the best solutions for retirement contributions and charitable contributions.
59:31 I currently own a home in one state (OR). I'm looking to purchase an investment property in another state (AZ) and plan to do so using an LLC or S-Corp. What would be the easiest way to go about this?
1:03:37 If I invested 30,000.00 in a marketing class to start a marketing company. Do I have to amortize it over 15 years to see any of it back? Can it be a business investment and get it all back?
1:07:02 Is 1245 property subject to depreciation recapture if the rental property is sold with capital gain?
1:12:26 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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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.

[@TobyMathis]

Join us every other Tax Tuesday, where you can have your tax questions answered live by our experts entirely FREE. Register Now 👉aba.link/1ba9cc

[@a.s.r.3661]

Great discussion about so many important topics. I appreciate you very much!

[@TobyMathis]

Glad you enjoyed it!

[@davidmoolekampcpa3370]

thanks from Metairie LA

[@TobyMathis]

We appreciate your support from Metairie, LA!

[@averybeasley7347]

Toby,
If filing Form 3115 impermissible to permissible method change, can I elect out of bonus depreciation if it was not elected out of initially? I had two 10 year assets: one 10 year was bonused and the other was put on depreciation schedule incorrectly as 15 year. Can I take the 15 year and turn it into a 10 year, then elect out of bonus which I would've done had it been put on correctly from the start?
Thank you!

[@terenceeans1577]

As usual, it was so fun and inspiring!!! You and your team are absolutely amazing. The fact that you do this is not only unique but rare!!! You are adding value to the masses and educating us so that we can operate with way less or any painful land mines!!! True leaders, leading without leading, instead guiding the people so that they are leaders in there worlds, 👌🏿 👏🏿 truly amazing!!! Tell you what, your model is contagious!!! Thanku!!!

[@TobyMathis]

Thank you so much!!