#152: Tony Watson- Taxes and What You Need to Know

December 19, 2022

“You don’t want to have to go back and correct things because we want to file the first time and have the first time be correct. “Tony Watson

 

Today I am interviewing Tony Watson. He is the Tax Consultant and Keynote speaker for Robert Hall and Associates. He manages over 350 million in holdings and holds a federal license as an enrolled Agent Tax Practitioner. He has presented at hundreds of organizations including through the state of California including FIBI Pasadena. He is an active investor and entrepreneur with almost two decades of experience. He has presented twice at my FIBI Pasadena meeting. 

 

Tony Watson: Was introduced to real estate early on by his family. He is now an active investor, entrepreneur and works full time at Robert Hall and Associates. He has a Bachelor’s Degree in Business Administration from Chapman University, and is certified as an Enrolled Agent (EA), Achieved the National Tax Practice Institute (NTPI) Fellow status. In 2016 he received the Glendale Reader’s Choice Award for Best Tax Preparer. 

 

TOPICS COVERED IN THE EPISODE

 

  • What do tax preparers look for 
  • Why is the tax code so complicated 
  • Following the tax code
  • What is cost basis and why is it important 
  • Active income vs unearned income 
  • How does being a retiree affect your taxes 
  • What are real estate related loss deductions 
  • How to actively participate in real estate during retirement 
  • What is the 51% rule 
  • What is material participation 
  • What are the upcoming changes and tax benefits 
  • Cost segregation elections 
  • Section 1031
  • How do you access cash out of an asset 
  • Filing for investments in other states, what to do

 

Listen now and find out how Tony found his Real Estate Breakthrough!

 

The Real Estate Breakthrough Show with Christina Suter is where we talk about the reality of real estate, the mindset you need and the tips and tricks to get you moving forward in investing. Join us every other week and learn everything you need to know to invest in real estate on Youtube, iTunes, Spotify, and more. You can watch Tony’s interview on Youtube here. 

Find out more about Tony  here: 

 

Website www.RobertHallTaxes.com

Phone Text Robert Hall to 72000 for a free consultation 

Podcast: Play in new window | Download