I work full-time and invest in buy-and-hold real-estate for long term investing.
One property has come up recently which will net me $30k profit, if I fix it up and flip within a few months.
I'd like to pay minimum amount of tax as possible on the fix and flip profit :).
What are some of the tax strategies I can utilize to minimize tax on fix and flip ordinary income? (anything from new tax law changes?)
@Neel Shah If you like buy and hold why not 1031 the 30k into a buy and hold property? Otherwise, I don't think there will be any loopholes. But an accountant would know best.