The Hidden Tax Bomb in Real Estate Flipping (How to Minimize It!)

Attention real estate flippers! If you're not careful, there's a hidden tax time bomb that could blow up your profits.
But fear not, in this must-watch video, we'll reveal the secret to minimizing this tax burden and keeping more money in your pocket.
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Join us as we dive into the details of the hidden tax time bomb associated with flipping houses, providing you with the knowledge and strategies to stay ahead in the real estate game.
Watch now to safeguard your profits and make informed decisions on your house-flipping ventures!
Chapters
0:00 Intro
2:18 Installment Sale
5:27 Taxes Explained
8:32 Issues as a Dealer
12:31 Working with Flippers
15:05 Outro
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ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#taxes #flippinghouses #realestateinvesting

Пікірлер: 11

  • @JoshBRealEstate
    @JoshBRealEstate7 ай бұрын

    great stuff!

  • @B.Goodwyn
    @B.Goodwyn7 ай бұрын

    Please go deeper on this topic or can you recommend any videos you've created on this? Also, knowing that you may be taxed as a Dealer, what are ways to benefit in that event?

  • @DrMelInvests
    @DrMelInvests7 ай бұрын

    Would you have to set up an LP when you first acquire the property that you plan to flip? Or after the rehab is done can you deed the property over into the LP? Just curious how flexible the strategy is since we may not always know exactly what the exit looks like after rehab...

  • @ClintCoons

    @ClintCoons

    7 ай бұрын

    Either way but the fist method is preferable.

  • @alexjoungblood8759
    @alexjoungblood87597 ай бұрын

    How do you handle bank accounts with multiple LLC's ? are you opening up a NEW bank account for each LLC ?

  • @ClintCoons

    @ClintCoons

    7 ай бұрын

    Best practice would be to open a new bank account for each LLC. Also title will most likely require you to have an account for closing.

  • @shippenman5977
    @shippenman59772 ай бұрын

    Installment sale, dont you pay all tax on gain in first year. Then buyer defaults. Arent you screwed? Love your videos

  • @ClintCoons

    @ClintCoons

    2 ай бұрын

    Yes if you are flipping this is an issue.

  • @whymindsetmatters
    @whymindsetmatters7 ай бұрын

    For flips can you just form an llc taxed as a c-corp

  • @ClintCoons

    @ClintCoons

    7 ай бұрын

    Yes

  • @JtotheRizzo
    @JtotheRizzo5 ай бұрын

    Wouldn't this workaround expose you to liability on that LP since you are 99% Limited partner? Why wouldn't it make sense to have your corp limited partner and you the GP? If you have to be the limited partner, does it make sense to form a WY LLC to take your place as the GP?

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