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Updated about 3 years ago on . Most recent reply

Eric Doe's profile image
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Eric Doe
  • Member since Nov 3, 2021
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Eric Doe's profile image
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Eric Doe
  • Member since Nov 3, 2021
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Eric Doe
6
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13
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Tax, SDIRAs & Cost Segregation

How to Calculate taxes

Eric Doe
Posted

We successfully flipped a house and had it for 2 years. How do we determine how much money to put aside for taxes?

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Dave Spooner's profile image
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Dave Spooner
  • Rental Property Investor
  • from Cincinnati, OH
  • Member since Feb 7, 2020
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Dave Spooner's profile image
Dave Spooner's profile image
Dave Spooner
  • Rental Property Investor
  • from Cincinnati, OH
  • Member since Feb 7, 2020
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Dave Spooner
  • Rental Property Investor
  • Cincinnati, OH
821
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861
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Dave Spooner
  • Rental Property Investor
  • Cincinnati, OH
Replied

@Eric Doe I can't recommend enough hiring a CPA. They will save you far more money than they cost you. They will also save you tremendous time.

That being said, it's still worthwhile familiarizing yourself with the tax code. NOLO put out a great book covering tax:

https://store.nolo.com/product...

  • Dave Spooner
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