It might be due to your property transfer (for example, that doesn't happen in NJ)...As for your income tax, a single member LLC is considered a "disregarded entity" by the Federal IRS. 

Some of the best flips are to be had in rapidly appreciating areas across Philadelphia and using transfer tax as an excuse to avoid investing here will leave you in the dust!

There are ways to reduce self-employment taxes through correct entity set up, but you will still likely incur some level of self-employment tax as well, especially if you do more than a couple deals.I'm not a tax professional, but I know of no way to shelter flipping income from federal, state and at least some self-employment taxes.

Big talk like that has happened in every election because there's no such thing as a bad tax - as long as someone else is paying for it. 

A large percentage of people with a net worth in excess of $30 million have structured their incomes so that they pay as little tax as possible.

If she lives there for 2 years you all could avoid capital gains tax. As

Short term lease like airbnb are exempt of the tax as there is no really a tenant all along the year. if you are house is empty but fully furnished, you should pay it as well. if your house is empty with nobody in it, you will not pay it, however after one year, most of big cities put another tax called "taxe sur les logements vacants" "empty house tax" to avoid inoccupancy.Fabrice

I know if running through an individual it does.. but will we be required to pay the $800 CA LLC "tax" as well because we have a foreign LLC? 

@Amber WillsI am thinking you want to reference the 1031 exchange instead of 1033.You want to determine what your gain and tax would be if you were to dispose of the property.If the tax as a result of sale is a lot, I would consider doing a 1031 exchange.You live in California so if you sell a property you have to ultimately factor in federal and California taxes.

This allows you to use any capital gains / depreciation recapture / and state tax as leverage to own a larger, better property.