Real Estate Professional · Phoenix, AZ · Member since 2015 · 27 posts · 3 votes
I am trying to get as much information about wholesaling as possible before I just jump in.
I am wanting to do wholesaling but im not sure what I do about filing taxes how does that part work ? off the money I make are the taxes already taken out or do I have to pay at the end of the year ? should I be putting a tax fees away off my profit t be safe ?
thanks @Christopher Brainard I wasn't sure and I don't want to get going and then be hit with this huge tax bill and loose most my profits anyway to back taxes.
@AnitaWalter It would be worth it for you to by the time of a CPA or attend a webinar/seminar hosted by a firm to go through the many benefits that come with engaged as a real estate professional. The IRS requires a certain amount of time that you will have to justify but it is worth it...