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Updated over 6 years ago on . Most recent reply
Developing property with my concrete construction LLC profit.
I am the owner of a concrete construction contracting company who’s focus is residential and light commercial foundations and flatwork. We have well over 6 figures in cash reserves that I would like to use to purchase and develop a piece real estate. The business is an LLC. My question is can I avoid income taxes on the use of the profits to purchase the property by self performing the concrete on the foundation, as well as providing supervision during construction. Would that be considered a business expense?