Episode 31 - Matt Wheeler Q&A Roundup: Foreign contract work, writing off renovation and caregiving expenses, and becoming an LLC.

Matt Wheeler is back at it with another Q&A. Don’t make tax-related decisions based on what you’ve read on the Internet or heard from friends. Receive expert advice from the experienced and talented Wheeler team.

Solving complicated tax issues is the Wheeler team’s speciality, and their knack for it certainly comes through in this episode. Listen along as Matt offers creative solutions to their clients’ tax questions.

Here are some of the questions that Matt answers in this podcast:

• Some general tips on venturing into self-employment including whether or not self-employed consultants are required to get a separate tax ID number.
• If you’re completing contract work for a company outside of the U.S., will you be taxed by that foreign country?
• When you renovate a residential income property, how much of those renovations can you write off?
• Can you pull equity out of a residential income property in order to pay back your investors? How do you avoid tax consequences?
• When caring for a family member, how much of the associated costs are tax deductible under the new tax law?
• Should you put your rental property into an LLC.?

Wheeler CPA