I’m looking for an Accountant to design a tax strategy for me and manage my income tax filings during tax season every year.

Account Closed I have some contractors who would work in the Melrose Park area.

@Eric Horton you should always form an LLC before conducting business or at the bare minimum seek out legal and accounting advice as to what would be best for your situation.

They both have free accounts.  

One thing I'm curious about, and never asked my accountant is..

According to RealtyTrac and the National Association of Realtors, the average Fix & Flip takes 6 months, has a gross profit of $67,000 (before rehab costs are subtracted) and has a Net Profit of $15,000 after all expenses are accounted for.

A condo would be a different story though.In any case, it seems like a great deal...have you accounted for maintenance, vacancy, property tax, insurance and management?

Nina,Not an expert but some knowledge.Firstly, Account Closed is not wrong but using LLC's is possible as long as you instruct your US tax preparer to treat it an a corporation.

Hi Javier, I think the ultimate best way to save your money is to add a knowledgeable and proactive accountant into your team.The wholesalers are taxed very aggressively in comparison to landlords, but a couple of things that just popped in my head:- consider living/investing in a state with no state income tax- consider investing through tax-deferred plans like IRA- consider creating a corporation and make sure you maximize your tax deductions

I’m running numbers on some listings now and am finding it difficult to break even on a 20-30% down payment with financing after taking into account expenses.