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Qualified Opportunity Fund, Taxes on Bitcoin Mining and More! Tax Tuesday Ep. 141


If you mine bitcoin, how is it taxed? Is it taxed at the price of bitcoin minus electricity, then turned into US dollars? *~ Claim Your FREE 45 min Strategy Session NOW! How do you set up Qualified Opportunity Zone Fund the correct way? Toby Mathis, Esq. answers these questions along with Jeff Webb, CPA and more during this episode of Tax Tuesday, a bi-weekly FREE LIVE webinar event. Join us LIVE bi-weekly at 👉 7:28 - I understand that, if I want to set up my own Qualified Opportunity Zone Fund, it needs to be in a partnership of some kind, with an LLP, LLC, C-corp, or some other entity structure. Can I form a viable partnership for this purpose with my IRA-owned LLC? 14:35 - I would like to make my investment condo my primary residence for tax benefits upon its sale — without sleeping there 731 days over 5 years. Is that only a safe harbor measurement or a hard-and-fast rule? 24:24 - How can I take profits out of an S-corp without paying a lot in taxes? 30:36 - How do you account for remodeling expenses versus maintenance expenses for a rental property? 42:04 - If you mine bitcoin, how is it taxed? Is it taxed at the price of bitcoin minus electricity, then turned into US dollars? 50:51 - Can an employer contribute to a profit-sharing retirement plan if there was no profit for the year? 56:47 - If my business and house are in my revocable living trust when I die, what kind of tax will my kids (the beneficiaries) have to pay on "getting the business" or the house? 1:07:33 Has the IRS relaxed the 750 hours requirement for real estate professional status for 2020 in light of the difficulties of the Corvid pandemic? 1:13:48 - I understand that I will owe income taxes on the amount of a withdrawal from my traditional IRA. Can I use passive activity losses (PALS) from rental real estate investments to offset this IRA withdrawal income to avoid income taxes on the IRA withdrawal? 1:15:00 - Can I buy an investment property before selling a property in a 1031 exchange? 1:16:19 - For a W-2 employee, what do you recommend is the best way to save on taxes when stock market trading? 🚀 Ready To Take Your Business To The Next Level & Get A Detailed Risk Assessment To Help Protect Your Personal and Business Assets From Lawsuits? ***** Find about our Tax & Asset Protection Events at 👉 👉👉SUBSCRIBE to my channel 🔊 Be The First To Know, First To Grow LISTEN to Anderson Business Advisors PODCAST 👉 VISIT for solid financial strategies, tips, articles and workshops to help you grow and prosper. 800.706.4741 info@AndersonAdvisors.com Twitter: @TaxWiseToby Blog: 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. #taxtuesday #bitcointaxes...(read more)


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