Opened an LLC, bought a flip, sold a flip... NOW WHAT?!

[Nisarg Gandhi]

Hi All,

My wife and I just began our real estate investing journey and we're pleased to say we just flipped our first home. We know nothing about the taxes side of things and were hoping to connect with a CPA that is also an investor in CA. We understand these would be billable hours but we would love to learn how to manage our money and future flips the best way possible (make the most amount of money!).

Looking forward to any contacts we can make and wish the rest of the BP community best of luck in the up coming year!

Cheers,

Nisarg

[Ashish Acharya]

You might want to have the correct entity structure depending on how much profit you expect by the end of the year. 

You might want to allocate income between spouses in a tax-efficient way. 

These issues cannot be addressed you opening your life on the forum. Please talk to your CPA on this.