Waching daily Nov 26 2018

- Hi guys, my name's Toby Mathis.

I'm one of the founders of Anderson Law Group

and today we're going to be talking about

how to use a nonprofit for maximizing

everything from tax savings to asset protection.

It's kind of weird

that we're going to be talking about using a nonprofit

until you understand what it is they actually are.

A lot of us are used to hearing the term 501(c)(3)

and that's because that's the section of the code,

26 U.S.C. is the internal revenue code.

So it's 26 U.S.C. 501,

that covers exempt organizations

and C3 just happens to mean the types of organizations

where you get a deduction,

a charitable deduction for giving it.

So this is going to be religious, education,

and charitable organizations

that are doing things to help society.

The easiest way to conceptualize this

is if the government could be doing it, but I'm doing it,

then chances are it's going to be something

that I could run under a 501(C)(3).

So lots of 501(c)(3)s that you know about

are like hospitals.

There's lots of educational companies like Harvard.

All the major universities are actually nonprofits.

Then you have the United Way,

the American Red Cross, all these.

The NFL, up until a few years ago, was a nonprofit.

There are people that provide housing

that's low-to-moderate income housing

or housing for veterans or housing for single moms,

you fill in the blank.

If it's helping out a group

then chances are it qualifies as a nonprofit.

That's a topic for another day

if we could just talk about real estate with a nonprofit.

But, I just want you to understand that this is the section.

The way it's set up,

and I always put it into three categories.

Number one is the state.

That's what do the states view it as

and what do I have to do with the state to create something?

The next one is 3rd parties,

and then the last one is the federal government or the IRS.

Easiest way to look at it.

I use the fed because I like saying state and fed.

So what is a 501(c)(3)?

It is a nonprofit corporation set up with the state,

and a corporation has bylaws.

And ordinarily a corporation's going to have shareholders.

The biggest difference between a nonprofit and a for profit

is a for profit is there to profit an individual,

give money and make money for an individuals,

if you're shareholders, and a 501(c)(3)

we don't care about the shareholder,

it's for community benefit.

So there are no shareholders there's just directors.

So we have the bylaws and then we have directors.

Now you, you buffs out there that love law

and know that you could also have board of trustees

or regents or all these other things,

the end of the day there's a governing body.

There's no owners of a 501(c)(3).

And then to the IRS it's just an exempt.

So the easiest way to think about that is you don't pay tax

and if you don't pay tax with the feds

you don't pay tax with the states.

And this goes for like a lot of different things.

Sometimes you can be exempt from real estate taxes.

Sometimes you can be exempt from sales taxes.

There's all sorts of exemptions

but the one we care about the most right now

is that federal taxes,

so we can avoid taxation with a nonprofit.

So when yous et up a nonprofit, set up with the state,

you create a body for it, which is the bylaws,

and then you submit all that to the IRS.

And technically, if you want to follow along

and be a little bit nerdy it's a form,

it's an application, it's a one, a 1023 application

where you're trying to get exempt

and wait to get your exemption.

Now here's the beautiful part about a 501(c)(3).

A 501(c)(3), this, remember when this is approved,

and it could be a year, it could be two years.

Sometimes they ask a lot of questions.

For us, we've done over 3,000,

we're typically within the six to nine-month period.

It relates back to the date that you set up the corporation.

And this is really important

because if you're doing tax planning

before the end of the year

you could literally set something up during the year,

fund it, receive the tax benefit,

and be applying for your exemption

and it'll relate back to the date.

And we've never had one not receive its exemption.

So I could say with almost 100% certainty

that you're going to get your exemption.

Depends on what you're doing.

If you're doing something that's in the wheelhouse

of things that have been done before, 100%.

If it's something that's novel or new or kind of crazy,

then ya know,

we have to get through the question and answer with the IRS.

Now here's why it's important.

Whenever you're doing tax planning

it's kind of like this.

We're going to have different categories that we can fall into.

So we're used to being, pretend this is people,

this is a family.

We're used to W-2 wages where it's just taxable to us.

And we think, oh, there's not much I can do for tax savings.

I know that I have this thing called Schedule A

which is itemized deductions,

but it has to exceed my standard deduction,

and you get all into the tax mumbo jumbo.

If you're an individual you may not have a lot of options.

If I'm a business and I'm a 1099

or I'm receiving a K-1 through something like an s corp,

now I might have some options on moving some money around

and the first thing we look at is other taxpayers.

So as an individual our other taxpayers

that we have the option to give money to

that we can still deduct are things like IRAs

or what are called qualified plans or 501(c)(3)'s.

When I'm a business, and let's say,

let's just say that this is an s corp

so this is an 1120S s corp

in that I am just an employee of it.

Now I have a little s box, that can do something else.

That could actually pay other, maybe my child,

maybe my kid,

maybe somebody else that's working in the business for me.

I can pay them W-2 and I can write it off

and then they can go ahead and fund things.

Now, because I'm a business

I get a different type of retirement plan.

I can actually use a 401K, which allows me to defer

up to 18,500 of my wages in this year

and then if you're over 50 it adds $6,000 to it,

so it's 24,500.

So we have some other choices.

Now here's what's cool.

If you're the s corp, or here we still have this 501(c)(3)

that we can always contribute to.

So we have other tax brackets that we can use

and this is where it gets very, very important

in tax planning.

This is called income shifting.

Rather than have the money hit me personally

let it hit somebody else's return.

This is an exempt organization,

or that's an exempt entity, the 401K.

This is an exempt.

So if I put money into it I'm not going to pay tax on it.

In fact, I'm going to get a deduction if I do it right.

Same thing here.

No tax, all I get is a deduction.

Here that's just a deduction

but here this thing can still grow.

This thing can still grow.

These are very powerful tools as a result.

If I give money to my child

they can spend it however they want

but they still have to pay tax on it.

These guys don't.

So I'm pointing you to a few where I get a deduction

and it doesn't have to pay tax on the receipt of that.

Now before you go,

"Oh Toby, that's really neat and dandy but why do I care?"

Well, because as of 2018 I can write off

up to 60% of my adjusted gross income.

That's a pretty powerful tool.

So if you make $1,000,000 you could pen a check

to your 501(c)(3) for $600,000.

And if it's an organization that's doing something like,

again I'll use an example of low-to-moderate income housing,

I can write off the entire 600,000.

Now a lot of people say, "Oh, that can't be."

It's been done for years.

In fact, we have a president

that took advantage of something very similar

in a conservation easement

that netted him to mean quite literally on just Mar-a-Lago

it was I think $6,000,000 plus was the deduction

on doing what's called a conservation easement,

which is giving it to an organization

that's a conservation organization,

he gets the difference between the fair market value

and what it's worth when you give the restriction

on the use of the property.

You don't have to remember all that.

All you have to know is that you get big tax deductions.

You can do that too if you want to

and it just depends on what your appetite is taxwise.

It's one of the few ways where a W-2 wage earner

who's making a lot of money

could have a very positive impact

on their tax bill by pushing it down.

Now, the other reason that 501(c)(3)'s are so potent

is because nobody owns them you don't own it.

So they can't take it away from you.

So from an asset protection standpoint

it's a very, very effective tool

because no matter what's going on out in your life

if you have a child that's exposed themselves

to amazing amounts of liability

that you're going to be responsible for,

this is something that no matter what they,

the size of the creditor is,

no matter how vicious a lawyer they have,

no matter how hard they come after you,

this is something that you will always control

but they can't take it away from you.

And for some of you guys, you're doing social good,

you're using this stuff

and you actually want to help people,

you're helping organizations and you don't realize

that you could run that as a nonprofit.

Now this is where it even gets more potent.

Just to throw one more thing at ya,

is that when we look at this 60% of adjusted gross income,

that's if you're giving cash.

You could also give property.

And the way it works is if you give long-term property

like let's say a house that you fully depreciated

or something along those lines, that 60% goes to 30%

if it's long-term property.

But it's the fair market value.

So imagine you bought a house for $60,000.

Imagine you depreciated most of that house

so it had the land value but then you depreciated it

over many years

and you have almost no basis in that property any longer.

It's down to, its tax basis is like 10,000 bucks.

You could give that house

and whatever its fair market value is,

let's say that the house has gone up from 60,

now it's worth 200,000.

That's your deduction.

The only limit is 30% of your AGI

which means if your adjusted gross income is $1,000,000

your maximum amount

you can write off from that type of deduction

or that type of gift is going to be 30%, so $300,000.

So you would get the full amount in that year.

Now if you ever exceed the 30% or the 60%,

you just carry it forward for,

I think the carry forward is about six years.

So you just carry forward into future years

and continue to knock it off.

So I hope you're seeing,

like a few of you guys might be goin' (puzzled exclamation)

this might be interesting,

have a bunch of rental properties.

Do you mean that some of these could qualify as a nonprofit?

Yes, and we could actually contribute 'em,

we would get a fair market value deduction,

the nonprofit now owns it,

the nonprofit could actually go to the state

or the county where it's located

and seek an abatement of the real estate taxes its paying

and watch your cap rate jump up.

Some of you guys

that are real estate savvy understand what I just said.

The rest of you guys,

just know that it's a pretty effective tool

and it's worth learning more about.

If you want to learn more about it

spend some time on our website

or absolutely come to one of our nonprofit workshops.

(mellow uplifting music)

For more infomation >> Maximize Your Taxes With A Nonprofit-501 c 3 (Nonprofit Tax Information Get BIG DEDUCTIONS!) - Duration: 12:30.

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Before you do your Holiday Shopping - WATCH THIS - Duration: 40:35.

For more infomation >> Before you do your Holiday Shopping - WATCH THIS - Duration: 40:35.

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Be What You Are - Duration: 1:53.

You know, recently I heard about a young man who wanted desperately to make his high school football team.

Now, at his school if you were on the football team, everybody called you a tiger after the school's mascot.

Well, finally the day came when the coach announced those who made the team and near the end of the list

his name was called. But it was the words that the coach said to him later that he would always remember.

The coach said, "Son,

congratulations. You are

officially a tiger but remember: now you have to become what you are."

You see, that day he became a tiger as much as the most valuable player on the team.

But he and his teammates all faced the same challenge: to show the fans every week when they played

what they were and to become the best tigers they could be.

As Christians, we're like that young man. In Philippians chapter 1 - as in all of Paul's letters -

he greets the saints that were in that city.

Not Christians and the saints, just the saints. You see, in the New Testament,

every Christian is a saint. Now,

there are many people who think to be a saint that you have to do a lot of good works and

live a perfect life. Or to express it another way,

they think saints are super Christians. But in the New Testament

every Christian is called a saint. In

your church, every believer - from the new believer to the one that is known Christ the longest - all

are saints. Now the challenge for all of us is to live a life that

expresses that reality. That is, to become

what we are.

Think about it and I will see you tomorrow.

For more infomation >> Be What You Are - Duration: 1:53.

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Osteoarthritis Treatments - Duration: 1:40.

> Is it eventually lead to surgery though, because it's a replacement surgery isn't

really the first option it's pretty far down the list yes?.> Typically what

physicians recommend is that if you start to have pain and altered movement

in a joint that you might start with physical therapy, physical therapy will

work on regaining comfortable healthy joint motion, it will work on

strengthening the muscles around the joint, and the muscles throughout your

whole body, to help to support that joint, and oftentimes with a good regimen of

physical therapy and then follow-up flexibility, mobility, and strength

exercises, you can remain comfortable in that joint and function healthfully for

quite some time, then your next line of defense might be some injection therapy

that your doctor might recommend, there are anti-inflammatory injections like

cortisone that can be applied, there are joint lubrication injections called

viscosupplementation that help to kind of improve the lubrication mechanism of

your joint those might be applied, and then going on from there there are some

other slightly more experimental medications or injections like PRP and

stem cell therapy, you might be hearing about those in the in the news and in

the scientific literature, and then if your body still has a lot of pain, a lot

of decreased mobility, a lot of decreased function, if you're just not able to do

your activities of daily living, then your surgeon may start to recommend a

joint replacement surgery for you.

For more infomation >> Osteoarthritis Treatments - Duration: 1:40.

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Stick Welding Setup On Multimatic 220 AC/DC - Duration: 1:41.

For more infomation >> Stick Welding Setup On Multimatic 220 AC/DC - Duration: 1:41.

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Boots Riley Explains Why He Wrote Two Soundtracks for 'Sorry to Bother You' | Close Up - Duration: 5:57.

(upbeat music)

- When you're writing for a film,

how does that process work for you?

Do you always need to watch the completed film first?

Are you starting to think about it before that?

Boots, especially for you since it was your own movie.

Did it make it harder or easier?

- Well what's funny is I actually made two soundtracks

because when I wrote the screenplay,

I immediately was working on the soundtrack and finished it,

but it took a long time to get this film made.

So all those songs I had released by then

so, for this it was weird because you know as an artist

I might have wanted to make different songs.

As a director, I had to kind of make

myself make certain songs.

So the first version I wrote were songs

that fit with the theme of the film.

And really, the things that I talk about are all the set,

most of my music is what the film talks about.

So that's easy.

So I realized what the soundtrack that we did

put on the film, that I needed to make music

that I believed that they would be listening to in the world

Which is not necessarily my music.

We don't sell platinum records.

So, I had to make.

- [Other Male Musician] Not many people knew him.

- So I had to make versions of cool songs

that they might be playing in certain situations.

And so that was a different way for me to think.

'Cause our music, the soundtrack, it's only happening

when the characters can hear it.

That's the rule in it.

Tune-Yards did the score, and the characters can't hear that

So, where usually I'm just like fuck it,

this is the stuff I like.

I don't care if it's the thing that anybody will ever play

on the radio or anything, this is just,

I want to put my passion in there.

In this, I decided to think in a different way.

So we had to actually make some stuff from scratch,

just to work and I was wishing

that I hadn't agreed to do it.

'Cause that's how I sold it.

It's like, look I can even do the soundtrack,

and I was wishing that I hadn't said that.

(collectively laughter)

We were doing 12 hours a day, you know and the editing,

then the weekends, I'd be doing the soundtrack.

- So, artists are often influenced by

the current political climate.

I'm curious for you all.

How are you feeling about the climate we're living in now,

and how is that inspiring your work?

- Well I think every piece of art,

and everything we say is political.

Because, what music does, what art does,

is it's like people like yelling at the stars,

and saying you know, we're here, this moment is happening.

It's a way for the listener and the artist to be engaged

with the world, engaged with the universe,

and feel this moment more now, with my music

I'm always encouraging people that the best way

to be engaged with the world is to change it.

If you go to a party, and everybody's dancing

and you're just standing on the wall.

You know you might brag to your friends later on,

how great the party was and all that

if you're a teenager, or whatever.

(laughs)

But if you weren't dancing you weren't really

taking part of that moment so.

- You'd already been doing research

You bring that song, they're dancing to it,

are they dancing to it?

- I also take my stuff to Best Buy and Target,

and just play it and walk into the other aisle.

And then see --

- [Diane] If everybody leaves the store?

- On the Bluetooth just like on the UE dock.

- In the stereo section,

and just see if anybody's bobbing their head.

- That is such a good idea.

- I mean sometimes people, they're just

in their own world anyway, but every now and then,

you get something and you're like okay.

- That's like the way cooler version

of like taking it to the club.

(laughs)

- Take it to Target.

- One time I had to write really quick

'cause I had been lying about starting on this album.

I got the money from the record label, Epitaph Records,

and Andy Kaulkin called me and he's like,

how's that album going?

And, I'd just fallen in love and I was like

just really in the house with this girl for six months,

and where the studio was, and he was like,

you got that, and I was like, oh yeah I got a lot of stuff

almost done and I got one song though, just totally lying.

And he was like, great I'm in Oakland.

(collective laughter)

Let me come by.

So I wrote this song real quick, just because

I had to put it all together.

Again I had the music already,

and wrote this song real quick.

And I was like, okay how do I be true

to what I'm thinking at this moment.

And it's a song called, I just want to

lay around all day in bed with you.

But it really is talking about

because of pressure in all that.

Like time, and what we would do with our time

if we didn't have to make money with it,

which is the basis of exploitation,

and all of those things.

But a lot of times, we think of those things as all separate

When they're not really in our head, they're not separate,

they're all connected and there's just a tradition

of cutting out these other things,

and making it quote unquote not political.

For more infomation >> Boots Riley Explains Why He Wrote Two Soundtracks for 'Sorry to Bother You' | Close Up - Duration: 5:57.

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the Knee Degenerative Joint Disease - Duration: 2:17.

> The main reasons for joint replacement we all face it sooner or later hopefully

later is arthritis correct?. > Yes absolutely. > Now with regard to arthritis

then one of the big things is understanding arthritis pain and

understanding where it comes from, so we're gonna put up a graphic here it's

our 3d animated model which will give us a chance here to look at what goes on

and if you could Cynthia give us an idea of what we're

seeing here, and why arthritis is so painful and eventually leads to surgery.

> So what you're seeing here is a knee that has some degenerative changes or

some arthritic changes, as far as causes some people have a genetic

predisposition to developing arthritis, in either some of their joints, or all of

their joints, sometimes that's an osteoarthritis problem, it just has to do

with the bones and cartilage, other times it's an autoimmune or a rheumatic

arthritis type of problem, but anyway what I tell patients is the surfaces of

your joint should be like smooth wet ice, kind of like if you go to a hockey game

and in between quarters or sessions they run the Zamboni over the ice and they

kind of wet it and smooth it out, that's how the cartilage in your joint should

be nice, and wet, and smooth, when you have arthritis you have inflammation in the

joint, and that inflammation causes wearing and breaking down of the

cartilage, so you can see it here on the articular cartilage surface of the femur,

you can even see it here on the articular surface of the tibia, the

meniscus cartilage there, and that cartilage can wear down all the way down

to the bone, and then the bone itself can start to wear away, bone is never really

meant to come in contact with other bone it's supposed to be covered with that

nice smooth wet cartilage, so by the time you get to bone on bone it can be a very

painful condition again, lots of inflammation, that can set off

nociceptors or pain receptors in your body ,you can feel a lot of pain, have a

lot of swelling, have a lot of grinding and it's

very uncomfortable condition.

For more infomation >> the Knee Degenerative Joint Disease - Duration: 2:17.

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The Correspondent works with you, our founding members - Duration: 1:04.

At The Correspondent we believe...

...one-hundred readers know way more than just one journalist.

When you become a member of The Correspondent...

...you get to say how a story is reported.

One thing that really blows me away about The Correspondent...

...is it involves us.

We will not just do the research behind the scenes...

...and then give you the end result.

We will openly and transparently show you the work we do.

The truth is, we've got to work together.

Some of that knowledge is in us as well.

So, let us help to tell the story of us.

You've also got the possibility to contribute...

...what you know and experience to that journalism.

The way we will be able to tell the broadest kinds of stories...

...is if you'll be there as a member, helping us.

For more infomation >> The Correspondent works with you, our founding members - Duration: 1:04.

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How To Cancel FHA Mortgage Insurance (MIP / PMI) - Duration: 1:00.

For more infomation >> How To Cancel FHA Mortgage Insurance (MIP / PMI) - Duration: 1:00.

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Night activities at Cavalry Court in College Station - Duration: 5:14.

For more infomation >> Night activities at Cavalry Court in College Station - Duration: 5:14.

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Nate Silver's in, are you? - Duration: 0:48.

I'm supporting The Correspondent.

The reason why I support it...

...is it's founded by people who are thoughtful about journalism.

I've had a lot of conversations with those guys...

...and have become friends with them.

They're pretty real.

Not 'pie in the sky' idealists.

They know about the practicalities.

It's in-depth, it's transparent.

It really reminds me a lot of FiveThirtyEight.

They have a track-record of doing it in a different country, on different scale...

...but in ways that when I talk to my friends...

...they would appreciate something like it.

It's the kind of thing I will be interested in reading myself.

For more infomation >> Nate Silver's in, are you? - Duration: 0:48.

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ID2020 - 'REAL ID 액트' 준비 되셨나요? Are you ready? - Duration: 0:31.

For more infomation >> ID2020 - 'REAL ID 액트' 준비 되셨나요? Are you ready? - Duration: 0:31.

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For more infomation >> Bell + Howell KnightHawk Pen with Lighted Magnifier 4pack - Duration: 10:02.

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What Is Therapy Like? | (How A Therapist Can Help) - Duration: 2:51.

When I was younger, I had a friend who was in a terrible relationship. He was

really abusive to her and she knew that she should break up with him but she

didn't want to. We had suggested many of us had suggested for to her to go to

therapy and her defense was no no I can't go. I know what they're gonna say.

They're just going to say break up with him, so I don't want to go. I imagine this

is a fairly common perspective or a fairly common belief of what people

think if they went to therapy. The therapist would say "hey you need to do

this this and this and all these things are bad for you." I want you to know

that's not true. A good therapist will not say do this. They will not judge you.

Their main goal is to help you understand your own patterns and your

own blind spots. They're going to help you understand what it is in you that wants

to be with the abusive boyfriend and why you're drawn to him. They're not gonna

say you need to break up with him. That's not a therapist place. We do not give

very concrete advice such as do this. We sit with you and help you think through

the different aspects of yourself - the different sides of you. One side wants

this, but one side wants this and we try to help you resolve the conflicts. So

that's sort of a general overview of therapy. If you get really specific, let's

say there are many different types of therapists and we all seem different

sitting in the room. On one hand you have what's called cognitive behavioral

therapy. If you go see the CBT therapist they're gonna be much more active with

you They're gonna be coming up with ideas along with you and they're

probably going to give you homework. They're gonna say let's figure out how

to treat these symptoms in the most direct way possible. There are tons of

different types of therapists but let's go to the other end of the

spectrum. Let's go to say a psychodynamic therapist, someone like that is gonna sit

down they're gonna be much more laid-back and their goal with you is to

go over your life story. What happens in your life sort of things that happened

before. Say your parents got divorced and your home was really upset for four

years but that happened when you were 14 and now you're 18. A psychodynamic

therapist is really going to try to look at that and realize how that affected

you and let's say right now your symptoms are you try drugs or you're

cutting or you're depressed you don't know what you want to do with your life.

They're going to look at the whole big picture to say hey you know what I bet that stuff back there really hurt and there's a possibility that that has

to do with your drugs right now. No good therapist is gonna look at your bad

behavior and judge you for it. They're gonna see it as a

defense and a band-aid for something that hurts underneath.