Taxes, Taxes, Taxes...Where Do I Hide The MONEY?
I bought the sub 2 book about a month ago. I have spent many hours reading the book and browsing the forum for knowledge.
What methods are you guys and gals using to "hide" the money. I know that with other real estate deals you can put the money into a trust account. Also, I am not sure how the deals are taxed...I am not planning on setting up an LLC until I am further along.
Thank you everyone!!!
Wes
The best person to ask about this would be your CPA/accountant. They should give you the best advice for your particular situation.
Keep in mind, though, that you can't 'hide' the money. You may be able to postpone paying taxes on it for awhile, but the taxman will ALWAYS get his money eventually.
Roger
A great tool is the self-directed IRA.
Teh only entitiy that I know of doing these is Equity Trust. Read more about it at:
http://www.trustetc.com/links/realestate.html