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Tax implications on flipping homes with Byron McBroom

Sep 23, 2016

On the phone with Joe Cucchiara today is Byron McBroom, Owner of Measured Results. Before they get started Joe asks Byron to give us an update on passive loss rules and the Gragg court cast that changed who is subject to the limitations rule. They then jump into tax implications on flipping homes explaining why flipping is taxed as income instead of capital gain and the difference it makes. Also discussed today:

  • What can you do with flipping income to mitigate taxes?
  • Self-employment tax- Do you benefit by forming an S Corp or LLC?
  • The Receipt Bank record keeping app
  • Expected changes to taxes
  • Solar credit sales

 

 

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