How to offset capital gains from a flip

[Daniel Hart]

I don't normally seem to make money, so I don't have this unusual problem :)

I am expecting a gain of about $50k this year from a flip deal. I have 15 rentals and I will probably depreciate them all, and take any other normal deductions, but I'm looking for some creative ways to lessen the gain.

Some ideas that come to mind are (not sure if all possible).. Buy a business vehicle, buy a seller financed house with an inflated sales price for depreciation, do all my deferred maintenance this year, donate to a non profit that I control, bury my profits in the ground and run from the IRS.... :)

[Bryan Hancock]

Why are you trying to minimize taxes? Income is GOOD. The goal should be maximum after-tax income, not minimum taxes.

If there is some planning that makes sense in the course of your ordinary business then take advantage of it. Don't bite of your nose to spite your face though.