413: You Need To Know These! | Q&A You've Got The Tax Questions We Have The Proper Answers!

[@josedejesus5461]

I’m moving to Puerto Rico, how I can prevent double taxation in the island?

[@TheNurseArtist]

I'm Wow'd.. ima believer. Yes the THIS

[@ironrje]

Thanks guys for all the great info

[@pedrodeleonjr7164]

What are your thoughts on using a Define benefit plan for business owners

[@Beijing131]

Can LLC hired owner as an employee?

[@kalanifelix6127]

Thank you for this. This is great stuff.

[@bonniej0]

You should not have to report to anybody

[@DavidBrumbeloeJr]

Great video Thank you for sharing

[@stasevich]

Single person S corp with no w2, can i do solo 401k?

[@bonniej0]

Look up David Straight

[@BillBlackfund4u]

OMG- Got lost on that route as well on Route 66- was delayed in Phoenix over Christmas for 4 days- rented a Tesla and drove to visit friends in Lake Havasu and note to self- when you set the map to route to "Super Charger Sites" it takes you about 1.5 hours out of way. Bonus Info: Lake Havasu does not have any public Tesla charging stations! Wondered why I was only one driving around in a EV.

[@RyanHutchinsesDad]

Twy8a

[@claudiarodriguez1381]

I have a corporation s, I Have a store and a cleaning business i won a lot and ai am building a house with a big garage and aan 2 bedroom apartment on top...should I create an LLC and transfer the tittle to my LLC ....I want to rent the house and warehouse to all of my business and my self...should I do that?

[@markwright5262]

I would recomend a call to get the full answer... It's been worth the cost each time I have called them for a consult.

[@wattsobx]

@@markwright5262 What is the fee structure you followed for the consult. I have one very specific question around paying my minor kids through my Sole prop LLC.

[@markwright5262]

@@wattsobx They charge by the hour, I would call and ask what 15 min would cost. I have followed them for a few years and use them as our CPA... Its always been worth asking. They may have a minimum for non clients.. I'm not sure.

[@wattsobx]

i tried to sign up and ask a question but it says my account does not exist after validating my email...Any help would be appreciated.

[@MarkJKohler]

Hey Wattsobx, if you can email [e-mail] with your issue, we can look into your account and see what is going on!

[@I_amMe.]

Thank you for doing this. Question; how do I account for balance transfers I did from my personal credit cards to pay for appliances on rentals and paying myself?

[@MarkJKohler]

Hey there, to get your question answered, please submit it to podcast.mainstreetbusiness.com/ thank you!

[@AnOhioPatriot]

How do I protect myself from short term Capital Gains taxes. LLC ? Home Biz? Thank You .

[@eliezerdusowitz615]

Hold the property long enough to qualify as long term?

[@AnOhioPatriot]

@@eliezerdusowitz615 👍 I need a Home Based Biz to reduce my tax liabilities.

[@LuxeprivaeMedia]

Work with a tax strategist and read the treasury regulations.

[@ttruong6784]

Hello Mark, I withdrew from my ira to contribute to my hsa (one time in my life). Now on the tax form 1099-R from Fidelity, I see they put code 1 in box 7. It’s wrong, isn’t it? What code is it supposed to be, Mark? Please advise me. Thank you so much!

[@taxguruette]

It is correct. If it was a custodian to custodian rollover it would be coded differently. On the tax return you fix this issue. Your IRA company doesn’t know if you followed through on the transfer

[@ttruong6784]

@@taxguruette Thank you for your response. Actually I asked them to transfer the money for me so the should have known it.

[@cholland3440]

I just gotta hammered on taxes, I owe the IRS 10,000. That has me making less than 40,000 a year what gives. I am dying here

[@HighCountryRambler]

"Build Back Better" is what gives... They went ALL IN on their green fantasy and destroyed the economy, someone's got to pay for the damages.

[@bonniej0]

Goodbye RS they're going away Davey told everybody to hold off on their taxes this year because we're getting all of our taxes back that you ever peed haven't you been studying and researching what's going on right now?

[@markwright5262]

1099 Does this apply if they are paid by credit card?

[@bonniej0]

What you want to do is put your 401k and a trust account so they can't touch it and you're minor account money that's in the treasury that they got for you that they don't tell anybody about because after you died that's what funds the government are taxes provide their yacht

[@waynehendrix4806]

"May your sweet spot never be a big back door..."

[@suefuller3014]

You have Ladies watching you videos. I found some of your Humor and poor taste. The humor of words not spoken but understood by most adult people. Very distasteful.

[@eddiemartinez9492]

Question, can I employ my 81 year old mother and pay her $20,000 per year, have her contribute the entire $20,000 into the company sponsered 401K plan, Write off the 4% company match Each year she withdraws the RMD and converts the balance to a Roth IRA and pays the tax on the conversion and... here is the kicker... she puts me down as the beneficiary of the 401K and the Roth. hmmmm... am I onto something here???

[@MarkJKohler]

Eddie, to get your question answered, please submit it to podcast.mainstreetbusiness.com/ - thank you!

[@Tico2883]

Hummm that sounds very fish but doable 😬🤫

[@SgtSam1]

Funny show today 😂…all fun till you said I should issue 1099 for transactions over $600 to other (non-box store) businesses. Had no clue, deadline is approaching, & now my head is 🤯

[@LuxeprivaeMedia]

Everyone isn't required to file a 1099 let alone sign a w-9.

[@bonniej0]

The government needs to pay you interest on the money they kept from you all year you're filing the wrong forms you need to claim your minor account millions of dollars