One of the finest REI educators Bill Bronchick has some tax advice...

GREAT Tax advice from our friend William Bronchick!

1) Use your Roth IRA to do deals, 

2) Do installment sales to defer capital gains liability, 

3) Hold property > 1 year before selling for cap gains treatment (eg, buy sub2, then lease/option for and convert it to a contract for deed after 12 months), 

4) 1031x property you've held as a rental for many years, and 

5) Read "Tax Savvy for Small Business" from Nolo (contains explanations of almost every available business deduction and how to document it). 

In short, don't think of taxes as a boring topic you discuss with your CPA on April 14th; 

be PROACTIVE and learn EVERY angle that is applicable to your business. 

There's no easier (or more satisfying) way to pocket more money without working harder than to learn how to legally screw the Gov't out of your hard-earned money!!