Real Estate Agent · Yucaipa, CA · Member since 2016 · 20 posts · 4 votes
All,
I know the typical way to minimize your exposure to capital gains and employment tax is to hold the property over a year. Does anyone have any suggestions on how to minimize that exposure when doing short term rehabs? In SoCal. Also anyone have a really good CPA or tax person that is really good in knowing all the rules and exceptions in the real estate business? Thank you, Cris
I'm far from an expert, and hopefully others will chime in, but I believe I've read that flipping properties under an S Corp. well at least reduce the self-employment taxes.
Thank you so much for your respose. I was just doing some research last night on BP and ran across that as well but the info was generic. If anyone does business this way I would appreciate any pointers or if you can point me to a tax person or CPA that would be great. Thank you Lydia!