You answered my last question about an upside down real estate investment I am in. I am taking matt’s advice on that one for various reasons but both had great ideas. Thank you both.
You said I should get a consult for other questions so I do want to mention that i am not a taker, and really appreciate both of you. You have really changed my outlook on business, retirement and investing. I am a total fan of both of you. Matt’s youtube videos on depreciation, and on taxability of lawsuit settlements are just incredibliy succint and well done. It is my business, and it was better than I could have done. I could list too many videos for the Goat- Mark Kohler.
I am a mainstreet tax client with 8 LLCs and your clean ups are very helpful and very good value. Thank you.
I also have valued Mark Fetzer who I consider my business and tax attorney at your firm.
I have purchased matt’s sidra book which is excellent, and 3 of mark’s books which i have read cover to cover. I signed up my wife for the 360 virtual this month, and purchased matt’s real estate sdira video series.
I have my son’s cyrpto coverdell funded by his grandpartents with directed ira, and also four self directed ira’s for my family with directed ira which I will fund this week with Directed Ira. Also, I have a sdira for my roth simple ira for my scorp with another custodian because you wont take them.
I want to know if you can explain the tax consequences of some of your affiliates real estate deals with preferred returns and other types of interest. I have heard that the preferred return is taxed as ordinary income on other podcasts, for example. I would like to better understand these investments and tax consequences.
Along those lines, if i can a california resident can i set up an arizona llc for my and my employees (those who are my relatives) simple ira accounts if my intent is to ultimately buy rental property in arizona via roth simple ira llc (while buiding enough money via real estate syndication in arizona likely via your affiliates) to justifiable avoid the LLC fee for california. I understand I that I have to pay california tax on the income since i live there. The fee for 4 LLC is just a lot to swallow in california if I am not even investing in california.