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Updated over 5 years ago,
Tax Strategy???????????
I have two rental units that I'm considering attaching to my LLC. In addition, I want to add on to my portfolio. Currently, I'm renovating a property for a flip. If that goes well I intend on doing multiple per year. As of now I just file all my taxes together with an accountant at the end of the year. Me, my wife, our regular jobs and the real estate are all lumped together. As I grow is there a better way to handle this so I can maximize my profit? Are there things throughout the year I should be doing to have a more beneficial grip on it? I know some use real estate attorneys or accounts that specialize in this area. How has this worked for anyone?
Thanks
Mark