Читать книгу Flipping Houses For Dummies онлайн
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Reminds you to pay your property taxes on time.
Evaluates your house flipping activity to determine whether you’re considered an investor or a self-employed dealer.
Makes sure you pay your quarterly estimated taxes if you’re considered a self-employed dealer.
Ensures that you pay your quarterly estimated taxes on your capital gains if you’re considered an investor.
Offers a sanity check to make sure your grand vision for the house doesn’t blow your budget.
My first two CPAs didn’t work out when I was first starting out. My third CPA came through a mutual friend of mine who was a CPA and CFO of a successful company. He had a friend with an independent CPA practice. The rest is history. I’ve been using this CPA ever since — for the past 30 years.
Obtaining sound investment advice
When the money starts rolling in, your first impulse may be to roll your profits into your next flip, but that’s not always the savviest approach. You may want to sock away some money in tax deferred accounts to save on taxes and protect your gains. A knowledgeable financial advisor can provide the advice you need to make the best use of your profits.