Quick question everyone. Once I finalize a deal, how do I keep my profits from getting taxed like crazy?
Uncle sam wants in you pocket. Either hold property for 1 year (renting preferable) so that you are only taxed at 15% or roll profits for sale into 1031 exchange (buy a new property at equal or greater value)
i'm hoping to get rid of the propety within a few months of buying it. can you tell me what a 1031 exchange is?
Uncle sam wants in you pocket. Either hold property for 1 year (renting preferable) so that you are only taxed at 15% or roll profits for sale into 1031 exchange (buy a new property at equal or greater value)
i'm hoping to get rid of the propety within a few months of buying it. can you tell me what a 1031 exchange is?