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Hen Ley's profile image
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Hen Ley
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Hen Ley
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Hen Ley
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Rehabbing & House Flipping

Taxes for flipping in LLC vs. personal name?

Hen Ley
Posted

Is there a difference in the tax consequences for flipping in a single member LLC vs your personal name? Any suggestions as why to do one over the other?

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Natalie Kolodij

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Natalie Kolodij
Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
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Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
ModeratorReplied

For starters- talk to your tax pro. 


There is no surface value difference. SMLLC has no impact on taxes. 

Should you decide later with your tax pro that an S corp makes sense- that is an election made TO an LLC- so it would apply to income earned in that LLC- but side by side there is no difference.

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Kolodij Tax & Consulting

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