Originally Posted by
Sparky
My wife and I started an LLC flipping homes and she's also a new real estate agent. We went to tax guy and realized we'll get hammered with taxes. I know lots of my fellow pilots have side businesses (including real estate investments). Looking for some practical advice on how to limit our tax exposure. Thanks in advance!!
1031 exchange may help, it allows you not to pay capital gains tax if you roll money into another investment within 6months.