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Updated about 10 years ago,

User Stats

732
Posts
490
Votes
Neal Collins
  • Developer
  • Portland, OR
490
Votes |
732
Posts

Keeping money in my pocket vs. paying the tax man

Neal Collins
  • Developer
  • Portland, OR
Posted

Is there any way to avoid paying personal income tax when flipping a house?

Could you hold it for longer than 365 days and only be subject to longterm capital gains tax?

Alternatively, could you fix it up and call it your temporary residence and then buy a place of equal or greater value?

Is there any difference between putting the property in your personal name vs. a business entity's name?

Thanks in advance!

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