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Which Business Structure is Best for Real Estate Agents?
52:42

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

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7:10 What is the 1031 exchange, how is it used and is there any concern that it may go away? Seems like the only option if you are trying to avoid long term capital gain tax on a property.

12:20 As a new wholesaler, what is the best way to set up my business structure?

17:13 How does the tax work on rent to own? The non refundable deposit, monthly cash flow and the back end?

22:54 I have a SFR that has been passive rental property since 2003. I have not taken depreciation on my 1040. Now I want to sell the SFR, take the profits and pay the LT capital gains. However, if I have not taken depreciation then there is no recapture correct? Or will the IRS take depreciation recapture regardless?

32:06 Does a disregarded WY LLC pay the $800 franchise tax in CA? Please advise on any strategies to avoid having to pay the $800 franchise tax in CA. By the way, I'm seriously considering moving to NV if I can convince my employer to allow me to work remotely.

40:00 I am a fulltime real estate agent with a broker's license, although I do not currently run my own brokerage. I am planning to begin investing in rental properties as well. Is it a good idea to pull together these businesses under an LLC or SCorp, or is it more beneficial to keep things separate?

46:08 I have a rental and AirBnB on my property plus I work from home. What part of home repair, landscape etc can I write off?

52:42 I need to create an entity for my business as a real estate agent. I am not sure which entity is best for me and pay myself out of my business income separately. Not sure which Corp is best?

58:39 I have been buying investment properties for the past five years and are under my name. I have a separate personal account where my rental income is deposited. My question is how should I formalize my business (structure) if they are under my name and personal account?

1:03:31 I buy and sell vacant land. I typically buy then resell with owner financing (deed of trust, mortgage deed, etc.) My question is twofold. 1. Would I be considered a dealer given I do ~400 properties a year even though there are no structures, and my intent is to resell on terms NOT flip for cash? 2. Would it be possible for me to save on taxes by becoming a LP Create a GP operated by an LLC that my team owns / operates. I put money in and stay out of the day to day. I am not very actively involved as it is.


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Disclaimer

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 attorneyclient 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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