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Updated over 3 years ago on . Most recent reply presented by

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Eric Doe
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How to Calculate taxes

Eric Doe
Posted

We successfully flipped a house and had it for 2 years. How do we determine how much money to put aside for taxes?

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863
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Dave Spooner
  • Rental Property Investor
  • Cincinnati, OH
822
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863
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Dave Spooner
  • Rental Property Investor
  • Cincinnati, OH
Replied

@Eric Doe I can't recommend enough hiring a CPA. They will save you far more money than they cost you. They will also save you tremendous time.

That being said, it's still worthwhile familiarizing yourself with the tax code. NOLO put out a great book covering tax:

https://store.nolo.com/product...

  • Dave Spooner
  • [email protected]
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