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On today’s episode, we are joined by attorney Toby Mathis to talk all about taxes. There are so many tools available to you to help ensure that you are not overpaying on your taxes and that you are maximizing your investments. However, most ordinary people and even the majority of professionals do not know the correct procedures and protocols in order to help you make the best out of your tax situation. It is for this reason that Toby believes you should work with lawyers and CPAs who invest in property themselves. As an investor they will have made the best decisions for themselves, which means they are able to put themselves in your shoes and do the right thing for you as an investor and not just simply as their clients. Property is one of the best things to invest in as there are ways you are able to pay zero taxes on it, if you know how. Toby also shares the benefits of charitable giving, both from a philanthropic and financial standpoint because having money means that you should be the benefactor of the less fortunate. Find something you feel passionate about and give as much as you can to help others and your taxes! For some extremely insightful pointers, join us today.
Key Points From This Episode:
- Understanding what kind of income allows you to avoid social security tax.
- Steps to take so you can pay zero taxes on property.
- Some of the best ways to pay the least amount of tax
- An explanation and breakdown of what cost segregation is.
- What syndicators, as passive investors, can do about taxes.
- Recognizing that many CPAs do not know how to get full benefits for their clients.
- Why it is best to have an attorney that invests and understands your interests.
- The reason so many people invest in non-profits.
- Getting to the details of what contributed to Toby’s success.
[bctt tweet=”If you have a passion for something, quite often it is better for you to do it rather than you just give money to somebody else and hope that they do it. — @TaxWiseToby” username=”Whitney_Sewell”]
Links Mentioned in Today’s Episode:
Anderson Business Advisors on Facebook
About Toby Mathis
Toby Mathis is an attorney on a mission to help investors and business owners keep more and grow more. A founding partner of Anderson Law Group, Toby helped Anderson grow its practice from one of business and estate planning to a thriving tax practice and registered agent service with tens of thousands of clients nationwide. In addition to advising clients and investing in his own real estate projects throughout the United States, Toby is a member of Forbes Real Estate and Finance Council and author of several books including first, second and third editions of Tax-Wise Business Ownership and 12 Steps to Running a Successful Business. Toby teaches extensively throughout the US to groups of investors and professionals with many of his courses certified for continuing education credit for legal, accounting and real estate professionals. He teaches a popular bi-weekly webinar entitled Tax-Tuesday where business owners and investors can ask any tax question they have and they answer them on the air. It is just Toby and a CPA who answer and turn the recordings into Podcasts. Toby resides in Las Vegas where he continues his mission on a daily basis to help investors and business owners preserve their wealth, protect it from lawyers, snoops and Uncle Sam and create amazing legacies for future generations.
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