Taxes

[Nestor Soto]

Can somebody explain all the tax disadvantages for a house flipper? What's the best approach for a first timer? Buy and quickly sell the property after renovations or hold it and sell it after some time to save money on taxes? Thanks in advance.

[J Scott]

Originally posted by @Matt Turbitt:

If you are flipping many homes you'd set up an s Corp to lower your taxes and increase your eligible deductions.

 I don't believe that an s corp will increase your eligible deductions.  For that, you'd want a c Corp.