Posted by JHyre in Ohio on January 04, 2003 at 08:45:56:
legal advice for short term capital gains and LLC - Posted by dan
Posted by dan on January 02, 2003 at 23:06:44:
please forgive my ignorance…i am just getting started in this business.
anyways, if u flip a house in less than a year, what are the tax implications as to holding it for more than one year? does it depend on you personal income tax bracket??? is there a legal way to avoid paying higher taxes for a short term flip??
also, i plan to set up an LLC and rent out a few properties and flip a few. for the rentals, is it financially beneficial to set up each specific property as its own business??? tax implications??? etc., etc.
thank u in advance for any advice / answers,
dan