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Updated almost 11 years ago,

User Stats

35
Posts
8
Votes
Demetrius Morros
  • Birmingham, AL
8
Votes |
35
Posts

Getting money out of a C corp and avoiding double taxation

Demetrius Morros
  • Birmingham, AL
Posted

I am an investor who is in a higher tax bracket. I am working with a tax attorney who is advising me to form a C corp. I can do my flips and wholesales through the C corp and lower my effective tax rate. I know you can get money back to yourself from a C corp through HSAs, insurance, and so forth. Are there any attorneys, CPAs, or other knowledgable individuals on Bigger Pockets who can suggest some ideas as to how I can get cash I earn from flips back to myself from a C corp and avoid double taxation? I am not eligible for an HSA. My tax attorney has suggested that I really can't in most circumstances , but I can loan money to other entities I have (LLCs that hold rentals) and help myself.

Jimmy

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