Flip This House Blog » United States http://www.flipthishouseblog.com Tips and tricks on flipping homes Sat, 30 Aug 2008 22:02:29 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 How do you pay for taxes when flipping houses while spliting profit ? http://www.flipthishouseblog.com/how-do-you-pay-for-taxes-when-flipping-houses-while-spliting-profit.php http://www.flipthishouseblog.com/how-do-you-pay-for-taxes-when-flipping-houses-while-spliting-profit.php#comments Wed, 18 Jun 2008 10:46:11 +0000 admin http://www.flipthishouseblog.com/how-do-you-pay-for-taxes-when-flipping-houses-while-spliting-profit.php flipping houses
xxjae_bxx asked:


I plan on starting a business designed to flip houses and eventually go on to commercial real estate. The income will be placed back into the company and the company will hand out checks to the workers which will be me and my friend . Does my profit from my house flips still get taxed as self employment or what ?

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mrflip asked:


I am looking into the business of flipping houses, so after reading more into it I see that it is recommended to operate under a “c-corp”. After talking to a CPA they said it would make no sense as I would be double taxed, both on the corporate profit and my personal income from the corporation. Why is it that most real estate books recommend c-corps then for tax breaks on buying and selling houses?

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