Originally Posted by
Sparky
thanks Rocky!! great advice! the main point of this post was to bring some ideas to our tax guys. the guys ive talked to seem not too dimensional, and each has given different advice.
Good Luck! Business stuff is fun for me, but it isn't easy. Finding a good accountant that knows taxes can be tough. Some of them will seem not too dimensional when talking about a small LLC because there isn't much dimension to it when it comes to "lowering" your taxes. Anyone who sells themselves as a tax guy who can "lower" your taxes is probably doing stuff the IRS won't like.
Find a guy that will listen to you and not act like you know nothing about taxes. I call my guy all the time with stuff like, "Hey I want to put in a sprinkler system for my yard. How should I do it so I can write off half of it as a farm expense?" He'll tell me to tie it into the irrigation system for a field and to replace or do needed upgrades on the farm system while I'm at it. I'm sure with a house flipping business there are lots of business expenses that could benefit you personally.....just be able to justify them to the IRS.