How You Can Mitigate Taxes on Crypto and More in this Episode.
Free Tax Tips & Strategies
In this episode of Tax Tuesday, Eliot Thomas, Esq. along with Jeff Webb, CPA, answer your tax questions LIVE bringing tax knowledge to the masses.
- If you experience a one-time large capital gain from exercising stock options, is it absolutely imperative that you figure out quarterly payments to avoid penalties, and if so, what if you missed April?
- What is the best way to take advantage of Section 179 for new vehicles over 6000 pounds?
- How are cryptocurrencies taxed, and what’s the best way to legally, morally, and ethically not pay taxes?
- I have two LLCs right now -- one holding real estate, the other one being a farming business -- as single-member LLCs that seem to have some tax benefits. My question is: could I move the equipment into another entity and then lease it to a custom operating company, thus creating some additional deductions?
- I am rolling out of an employer DB plan (where I had employees in the past) and want to set up a solo 401(k). Is there a restriction or 3-year waiting period to do this? My administrator says there is.
- If I currently have a 12-unit apartment building with a mortgage, and I sell an SFH rental property, can I use the proceeds from the sale of the SFH rental property to pay off the mortgage of the 12-unit apartment building to avoid capital gains tax?
- What will happen if you opened an LLC with corp. status but you missed the deadline? What should you do?
- How do you depreciate rental property after one of the owners dies?
- How do I set up my company in Nevada when I will be conducting business in Texas?
- Does tax on depreciation recapture, like capital gains, go away when a property is inherited?
- Do I have to report a home I lived in and sold even though I purchased a new home?
As always, take advantage of our and every other Tuesday we have , another great educational series. Our answers your questions about how to structure your business entities to protect you and your assets. One of my favorites as well is our .
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Finance & Trading Writer
2 min read
Free Tax Tips & Strategies
In this episode of Tax Tuesday, Eliot Thomas, Esq. along with Jeff Webb, CPA, answer your tax questions LIVE bringing tax knowledge to the masses.
– If you experience a one-time large capital gain from exercising stock options, is it absolutely imperative that you figure out quarterly payments to avoid penalties, and if so, what if you missed April?
– What is the best way to take advantage of Section 179 for new vehicles over 6000 pounds?
– How are cryptocurrencies taxed, and what’s the best way to legally, morally, and ethically not pay taxes?
– I have two LLCs right now — one holding real estate, the other one being a farming business — as single-member LLCs that seem to have some tax benefits. My question is: could I move the equipment into another entity and then lease it to a custom operating company, thus creating some additional deductions?
– I am rolling out of an employer DB plan (where I had employees in the past) and want to set up a solo 401(k). Is there a restriction or 3-year waiting period to do this? My administrator says there is.
– If I currently have a 12-unit apartment building with a mortgage, and I sell an SFH rental property, can I use the proceeds from the sale of the SFH rental property to pay off the mortgage of the 12-unit apartment building to avoid capital gains tax?
– What will happen if you opened an LLC with corp. status but you missed the deadline? What should you do?
– How do you depreciate rental property after one of the owners dies?
– How do I set up my company in Nevada when I will be conducting business in Texas?
– Does tax on depreciation recapture, like capital gains, go away when a property is inherited?
– Do I have to report a home I lived in and sold even though I purchased a new home?
As always, take advantage of our and every other Tuesday we have , another great educational series. Our answers your questions about how to structure your business entities to protect you and your assets. One of my favorites as well is our .
