I just don't see anything that is out of the ordinary?

page=2#p3128910.In March of 2017, I got started with a tiny investment into American Homeowner Preservation (AHP) Fund, which invests in real estate notes.  

I am using Business Turbo tax (which sucks by the way for this line of business) and my dilemma is whether to classify the flip gains as ST Capital gains or Ordinary income (flipped two properties this year)?  

But it sounds like I will have to pay closer to my ordinary tax rate (25% fed + 9% CA) on the $95,445 that I have already depreciated.  

Also American's adversarial relationship with saving money and an addiction to debt don't help the problem.Also, love reading Sam from FS.

Here is a link to what the American Bar association has to say re: practicing law.The summary is you as a person can perform tasks for yourself, it is only if you advise or receive compensation for writing this that it is practicing law.

So a gain of $125,000.Based on my tax bracket and the fact that the two newer properties would be taxed as a short term gain at ordinary income rates and the older properties would be taxed at 15% long term gain rate...I figure it's about $23,000 in tax savings.I'm looking to purchase a MF apartment with a target price of $1,100,000.Some questions:Can I even do the exchange given that I have two properties I have held for less than a year? 

I'm Canadian, but he's American and I trust him enough to make the company 51% American if need be to access greater financing sources.Anyways:Goals1.

The reason that you do not want hold "Flip" and "buy and hold" real estate activities within the same LLC is that the IRS may consider you a dealer and treat all your sales(even those that you bought and held) as selling of inventory which is ordinary income and may be subject to self-employment tax.You can change the activity of the LLC.

As ordinary expense as incurred or defer the costs until the house is sold?