Toby confirms what I have been taught by others who are wealthy, and that is this simple truth: it is not what you earn that counts, but what you keep."
@TobyMathis
2 жыл бұрын
Wise words to learn from.
@ArthurCovas84
Жыл бұрын
Hi Toby. I started following you not a long time ago but the content you put here is life changing. Cannot get this knowledge from a several CPA’s and Financial Advisors. I am a real estate agent/ real estate investor, high income earner and i am looking for ways to invest to lower my tax bracket. Question: where i can find cost segregation agent to help me in Florida and second: should i open a 401k under my personal name or my company name or holding company. Thank you so much for everything you do!
@dft2858
2 жыл бұрын
So needed this information
@TobyMathis
2 жыл бұрын
Glad we were able to deliver it to you!
@rickonethousand6304
2 жыл бұрын
More good info. Keep 'em coming!
@TobyMathis
2 жыл бұрын
Thanks, will do!
@JtotheRizzo
7 ай бұрын
If I have both a real estate agent business AND a Wholesaling business, and want to keep these businesses separate but want to run a single payroll for both entities, then does it make sense to form a WY LLC taxed as a S-corp then have this WYLLC own 100% of the real estate agent LLC and the wholesaling LLC and run payroll through the WYLLC?
@organizer14
Жыл бұрын
What items to put in certificate or affidavit of trust so a bank account can be open at jo Morgan chase? They won’t open a bank account unless such a certificate or affidavit is provided.
@LAKitchen
2 жыл бұрын
You always give such valuable advice! THANKS
@TobyMathis
2 жыл бұрын
Happy to help our viewers learn!
@tatsumakisempyukaku
2 жыл бұрын
This is great. I recently got my real estate sales license. My only question is that I thought that a business LLC in real estate must have a realtor as a member and I’m not a realtor as yet. If I’m correct, how does one get around that, or do I just have to wait a couple of years to get my realtor’s licens
@TobyMathis
2 жыл бұрын
It depends on your state as to whether your broker or RE board allows payment to s-corp/LLC. Regardless, you will be able to operate as an s-corp/LLC.
@MikeJCullen2
Жыл бұрын
What’s the state fees for Tennessee S-corp?
@carlchristopher2534
2 жыл бұрын
Toby, I can a test to the 80% living. I never got this when I was young. But my kids are getting it now in their early 30's. My one son and I are just starting with Kris Krohn. How can we work with you to get this set up correctly ???
@TobyMathis
2 жыл бұрын
We recommend either attending one of our Tax & Asset Protection workshops (aba.link/tap) or signup for a free strategy session andersonadvisors.com/ss/
@irskee69
2 жыл бұрын
I am 52, I make 25k/yr, and I live simply on 10acres. No mortgage, savings, or retirement.. I dumped 10k into the AMC stock squeeze play over the last year. With little to lose and still net positive even with this tanking economy.. I am anticipating generational wealth post squeeze. Like a winnining lottery ticket, I dont wanna be bankrupt in 5yrs. How do protect and structure this into legacy wealth? AMC APE
@TobyMathis
2 жыл бұрын
Welcome fellow ape:-) For stock, it is really about getting it out of your personal name and into an entity that does not die when you do (ie LLC). That is step 1 - step 2 is to create a trust for your estate so that if something happens to you, your heirs or organizations you want to benefit can avoid probate and the entity set up in Step 1 does not have to dissolve.
@tyjameson7404
2 жыл бұрын
Epic breakdown 👍🏼🙌🏼👏thank you
@TobyMathis
2 жыл бұрын
No problem 👍
@nuhhassan1892
2 жыл бұрын
first one🤞🏾🥰🇸🇴
@jenm220
2 жыл бұрын
Hi Toby, what are the 2 things that can be done to move that money into the LLC. Brokerage won’t issue checks in an LLC’s name if our RE license is in our name. Has to match. I’m in Washington with exp Realty. Thanks!
@TobyMathis
2 жыл бұрын
#1 - report the income on sch C will a corresponding expense of the same amount paid to the S-corp/LLC to zero it out. #2 - send Broker a letter stating that you are under the exclusive control of your s-corp/LLC and sign an employment agreement with the s-corp/LLC. The court in Fleischer, T.C. Memo. 2016-238 set out the analysis and showed us how to set this up correctly while at the same time denying a financial advisor the benefit for violating said way to set this up. You need the broker to know that you are acting under the authority of the s-corp/LLC and have the employment agreement.
@elliottwcrawford
2 жыл бұрын
Toby, why an LLC\S-Corp rather than a LLC\C-Corp? In Missouri, your Corp has the Broker's license, and every officer has to be a Broker. I am currently a Realtor, not a Broker. We have set up an LLC\C-Corp to manage our properties and bookkeeping from our holding company. Can I do another management or employment agreement between our LLC\C-Corp and me as a Realtor or does it have to be with an LLC\S-Corp?
@CarlosGarcia-ht4ij
2 жыл бұрын
if you owe taxes, can the individual open up an S corp?
@morlocklord
Жыл бұрын
I'm a little late (by about 9 months) but I have a question to confirm what you're saying: if I get my real estate license (depending on the state), I can create a LLC (taxed as a S-Corp)? If so, have you ever heard of a real estate agency (ie the broker) hiring a LLC (taxed as a S-Corp)? Structurally this seems kind of odd to me (a real estate agency that has from 3 to potentially 20 S-Corps, that each have 1 employee, working for them). I'm asking because I think I'm not fully understanding or may have taken that right at Albuquerque.
@TobyMathis
Жыл бұрын
Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby
@zachonline_
Жыл бұрын
@@TobyMathis didnt even answer the Q
@tongaexpress
Жыл бұрын
The broker pays you you choose how you get paid. They do not care who they write the check to, you or your LLC. They do not care. No big deal my friend, they hire you. You simply choose you want the checks to be sent to your business name.
@HODL-Diamond-Hands
2 жыл бұрын
what if it is a very new business and not yet profitable to pay a payroll?
@TobyMathis
2 жыл бұрын
You are not require to take wages if there are either no profits or is the profits made are not distributed.
@HODL-Diamond-Hands
2 жыл бұрын
@@TobyMathis thank you so much
@TobyMathis
2 жыл бұрын
Learn about Real Estate & Asset Protection at our next ALL DAY FREE LIVESTREAM 9 AM to 4 PM PT. Our attorneys and specialists answer ALL questions you bring to us at this event we have two times a month. Save Your Seat: aba.link/75g
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