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Updated about 5 years ago,

User Stats

504
Posts
216
Votes
Carolyn Morales
  • Investor
  • Jacksonville, FL
216
Votes |
504
Posts

Tax strategies on Short term capital gains question

Carolyn Morales
  • Investor
  • Jacksonville, FL
Posted

I started a post retirmement llc for my short term.cap gains RE transactions of Land and tax deed land. I do not pay myself at all from profits but I do buy more inventory, ie more land and tax deed land. Can anyone give some insight on my tax hits against other RE owned in my name that can offset some Short term cap gains. Should I be paying myself a salary from the business or buying more inventory? Which one  has less of a tax hit? Is it too broad a question to be answered? We do have buy and hold RE rentals that were once primaries that seems to help But this whole llc business and trying to navigate smartest tax strategy is new to me.

I Know some will say pay a tax expert local to me....But you know what? So far they all have a different answer...