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Updated about 5 years ago,

User Stats

95
Posts
65
Votes
Skyler Mckinney
  • Flipper/Rehabber
  • Virginia Beach, VA
65
Votes |
95
Posts

Where can I learn about taxes? (flipping not rental)

Skyler Mckinney
  • Flipper/Rehabber
  • Virginia Beach, VA
Posted

I got my first flip on the market and have no idea about taxes at all. We are approaching the end of the year and I have always had a w-2 job or was in the Navy so taxes were very simple and I could do them for free on turbo tax. Now I have been self employed for the last 4 months and have flipped this house, which if sells will complicate them even more. ( I am aware of capital gains and how high they are) I am looking for some good resources that I can learn about them. Books, Podcasts, YouTube videos, articles, forum posts. I understand there are a lot of posts about this topic and I have been reading them but the more I know and the more prepared I can be for the future the better! I am going to get them done by a professional but I would still like to know where my money is going and why I'm paying what and so on and so fourth. Thank you so much! 

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