Do C Corps get taxed double? What are the pros and cons of a C Corp and S Corp vs LLC? 18:10

Toby Mathis, Esq. and Jeff Webb, CPA will answer ALL your questions LIVE on Tax Tuesdays every other Tues 👉 https://aba.link/ap0

0:00 Intro

18:10 Do C Corps get taxed double? What are the pros and cons of a C Corp and S Corp vs LLC?

23:37 I am starting a boat rental business. Is the purchase of the boat able to be written off the first year or can it be spanned out over 5 years?

26:09 I own a child care center that is set up as a corporation and taxed as an S Corp. It has a line of credit of 150k. I am a new real estate investor. Can I lend those funds to myself to purchase a house to BRRR or fix and flip?

31:18 If a California resident owns rental properties and/or multifamily syndications in other states (Arizona, Atlanta) with net operating loss and k1/net rental loss, does he/she need to file an income tax return in those states despite the $$ filing threshold? Can he/she wait until they turn a profit/capital gain to file cumulatively?

36:20 I (US citizen) want to start a foreign business with a partner who is not a US citizen. What is the threshold for ownership to not have a US tax nightmare? What are the requirements? Do you have a video on this subject?

43:17 I bought a property for the purpose of subdivision, without renting it out in 2016, and didn't report it on my tax for depreciation or any deduction. Can I catch up on all depreciation for 2021 (filed extension) with cost segregation without going back to amend the prior-year tax return?

53:58 I bought a house in 2015, lived there for about 2 years, then moved out of state. If I convert my house back to a primary home, can I still qualify for that exclusion when I sell my home in the future? $600,000 and now the value is $1,200,000.

59:03 I have owned a rental property for over 27 years. If I move back into it, make it a primary residence, and then sell it after 3 years, can I legally avoid depreciation recapture upon sale?

1:12:00 Summary
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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 https://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.

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