Capital gain tax, what do you all do?
Hello everyone
Long story short.... bought another house,and was set on making it a rental, but there is real potential to renovate the house and make a decent profit. I have all the numbers in place, and of course when it comes to capital gains tax, that is where I am a newbie (I know the %)
My question is simply, when you all do a flip do you just pay the capital gains tax or is there ways to be smart about it? I am only asking for legal ways to do it.
Thank you.