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Updated almost 7 years ago on . Most recent reply

Chris Sickler's profile image
Chris Sickler's profile image
Chris Sickler
  • Flipper/Rehabber
  • from Kansas City, MO
  • Member since Sep 10, 2015
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Chris Sickler's profile image
Chris Sickler's profile image
Chris Sickler
  • Flipper/Rehabber
  • from Kansas City, MO
  • Member since Sep 10, 2015
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Chris Sickler
  • Flipper/Rehabber
  • Kansas City, MO
2
Votes |
24
Posts
Marketing Your Property

Do I separate LLC for both my flipping & rental buisness?

Chris Sickler
  • Flipper/Rehabber
  • Kansas City, MO
Posted

I have been flipping houses for 3 years now under my LLC, but was wondering if I should start a new LLC specifically for my rental properties. How does everyone else structure their flips and rentals?

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David Krulac's profile image
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David Krulac
  • from Mechanicsburg, Pennsylvania
  • Member since Jan 6, 2013
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David Krulac
  • from Mechanicsburg, Pennsylvania
  • Member since Jan 6, 2013
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David Krulac
  • Mechanicsburg, PA
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David Krulac
  • Mechanicsburg, PA
Replied

wouldn't hurt to separate DEALER property like the flips from the INVESTOR buy and holds for IRS audit purposes.  The difference could be between 43% Federal tax and 20% Federal tax (capital gains).

Dealers can not take capital gains!

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