Let us connect, I have something for you part-time.

Since there are not many ways to reduce taxes retroactively for a previous year, understanding options like these can be particularly valuable at this time of year.

Any guidance you can provide as we navigate this process would be incredibly valuable.Looking forward to connecting further!

As you mentioned intentional flips are typically considered inventory-This means the income is ordinary income and as such: - Is not a capital gain, so hold time of 1 year does not change to a better long-term capital gain rate - Can not be invested in a QOF Deductions related to it can't be pushed or changed- all costs are accounted for with the inventory component 

Every time you lower your tax bracket you are lowering the value of the deductions.

The rehab took 5 months and I did 90% of the work myself, saving $30k but losing a lot of time.

I'm a part-time CFO (Chief Financial Officer) for real estate developers across the country, most of whom are trying to give back to their communities through their real estate development skills.I'm also a former Director of Lending for a CDFI that lent money to local developers rebuilding LMI and under invested communities. 

As for not feeling like it's the right time, I would urge you to focus more on the goals than your feelings. 

If at one time the house had gas heat it may still be rated as gas.

.: In CA it is a violation of CSLB business and professions code 7159(d)(5) to execute residential time and materials contracts.