Thanks for sharing your thoughts

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Awesome to hear you found the breakdown helpful! Keep rocking the real estate game with that 1031 strategy!

Glad it was helpful =)

I recommend registering for a complimentary consultation with my team. We'll tailor our advice to your specific needs. Sign up here: aba.link/khn

Thank you for bringing this to our attention. We value your feedback and will ensure better communication in the future. Can you DM me on IG so we can discuss this further? You can message me on IG @taxwisetoby

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That's cool to hear about your land trust success story from 25 years ago!

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I appreciate you enjoying the video. Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide you with an answer that is unique to your situation. Visit: aba.link/khn

I recommend setting up a free consultation to discuss some strategies and how they apply to your unique situation. Sign up here: aba.link/7f2

You're doing an amazing job helping your mom out.

I'm glad you found the video helpful

Glad you enjoyed it!

Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide you with an answer that is unique to your situation. Visit: aba.link/khn

@@TobyMathis I will take that offer. I’ll contact you guys very soon. Thank you, sir.

My firm and I taught tax and asset protection for Rich Dad for 2 decades. While I agree with quite a bit of what Robert teaches, it is not everything, and we all learn somewhere. In Robert's case, you might want to check out DC Cordova - whose courses both Anthony Robbins and Robert Kiyosaki took prior to their fame. DC Cordova and Robert actually taught together before Rich Dad Poor Dad came out and it should be noted that she learned from Marshall Thurber and Bobbi DePorter (who likely learned from someone else). I took the DC Cordova course - Money & You long ago and it continues to be an influence - but at the end of the day, the way I understand money and teach it are my own. There are thousands of influences - clients, mentors, authors, colleagues and other info sources - and I use them all in trying to teach and help people. But if I helps - I loved Rich Dad Poor Dad enough to buy copies for my office when it came out and I tell that story often when I teach.

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Hi, I would recommend meeting up with my team to discuss the best structure for your. aba.link/khn

Yes.... you would have to register in California as a foreign Corp/LLC, and keep paying the minimum $800 annual fee to FTB, and any additional taxes on the profits.

Thank you for the suggestion. I'll definitely consider covering Section 1256 and the best way to do taxes for forex in an upcoming video.

The $25,000 rule is called the PDT rule. It refers to taking more than 3 round trip trades per day. (Opening a position and closing it is one round trip trade) It would be possible for someone with less than $25,000 in their brokerage account to take one round trip trade each day without getting shutdown.

@@mixingjd right so in order to trade daily, you need to have 25k in account to then be considered a day trader and possibly use it as a business ?

@@sammysolis8495 I think what Toby is saying here is that it is difficult for an individual retail trader to prove their claim to be a trader. If you you trade for a prop firm, financial institution or a hedge fund, then you need to have licenses. In that case having those licenses would be proof. But retail traders are not going to have those licenses. I think what Toby is suggesting here is good. There are a multitude of problems with just trying to be a sole proprietor trader. Even if you are successful, making profitable trades is not qualified income (you can not use it as income for loan applications).

@@sammysolis8495 The PDT (pattern day trading) rule is preventing multiple trades on the same day if you have less than $25k in your account. So if you start with less than $25k you are probably going to take increased risk with each trade to get your account up to $25k as quickly as possible so that you can take multiple trades in one day. You can also find offshore brokerage companies that don’t have to enforce the PDT rule.

I'm glad you found the information helpful.

Toby who should I speak to open same c corp tax Wyoming llc and the rest ?

No, you can either carry back 3yrs, or carryforward to future years where there are capital gains and offset against either of those. Regarding Limitations its upto your capital gains in that year.

Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide you with an answer that is unique to your situation. Visit: aba.link/tobyss

Same here

From the last video on this a while back he said something about the income from the llc hitting a k-1 where they count 100% instead of 75% on sch d? Look back and watch that one, it's alot like this one.

If you make $50k or less. Setup LLC. See benefits. If you make +$50k/year setup SCorp. See benefits. If you use prop firms. Little benefit But check with your professional

You have 2 options: 1.) If you incorporate your brokerage account as stated in the video, you can either pay yourself a yearly salary, via the K1, or 2.) After incorporation your brokerage account, you can get business credit and checking accounts, and buy those things in your business name, and name yourself as an employee of the business.