How to deal with taxes from income procured from wholesaling
Hello,
I am a new-comer to investing. I plan on wholesaling at first to build up my capital while at the same time growing my network and learning all I can about the business. While my plan isn't to remain a wholesaler, I want my main focus to be on long term buy and hold multi-family properties. The "analysis paralysis" is starting to set in as I listen to podcasts (BP and others), read books on real estate and personal finance. Many questions have been brought to my attention from all the information that I have been gaining. So ill just start with one question per post and go from there. My question is, how do you navigate the income taxes incurred from wholesaling. Meaning how do I avoid owing a large amount to the IRS at the end of the year. Thanks for the help.