The LLC would pass the ordinary loss on to the owners of the LLC.

They get me off of the computer and the recliner and lead me to the final goal of being able to spend more time with my family (and my wife doesn't mind me doing all the work I am accomplishing as well :) ).Last month's goals were to paint a room and cover, install and wire into the electrical system smoke alarms, tar paper and shingle the patio.

If you make withdrawals that do not meet the rules for a qualified distribution, you’ll owe ordinary income taxes on the portion of the withdrawal that represents earnings, and you may also have to pay a 10% income tax penalty if you are under age 59 1/2.

Hopefully I won't be too bad off if the IRS checks me out since I believe the short-term capital gains rate is the same as my ordinary tax rate, but I'm starting to think that maybe I should have paid self-employment tax even though I only did a couple.In any case, now that I am going to focus more on REI, I will set up a S-corp to do the fix-and-flips and a llc for the rentals.

On anything that you "hold" less than one year it'll be SHORT TERM capital gains, which is just your "ordinary" (marginal) rate.Hold it longer than one year and it's LONG TERM capital gains (15%) of your NET GAIN.If it's you PRIMARY RESIDENCE (2 of the last 5 years) there is NO TAX on the first $250K ($500K-married filing jointly) of gain.Or is that only on any profit I make from it?

In San Antonio, its 4 - 6 %, but they have very few out of the ordinary highs or lows.

Anybody else have something out of the ordinary that could help some newbies?

And that's taxable at ordinary rates, plus state tax and SET.

Is there any way that an ordinary individual can get access to exhaustive mls listings for a certain area?

I've observed more than 1 crew lay pavers on an exterior concrete patio.