How to protect your gained cash asset?

[Javier Pinedo]

I'm starting out wholesaling houses, but one of my concerns is how to protect your earned money. Definitely I understand that everyone needs to pay taxes, but which would be a way to protect the money as much as you can ?

[Marina Draper]

Hi Javier, I think the ultimate best way to save your money is to add a knowledgeable and proactive accountant into your team. The wholesalers are taxed very aggressively in comparison to landlords, but a couple of things that just popped in my head: - consider living/investing in a state with no state income tax - consider investing through tax-deferred plans like IRA - consider creating a corporation and make sure you maximize your tax deductions