Property Flip Accountants
Flipping a property is in and of itself difficult. The accounting even more so.
Whether it's your first time or you regularly flip properties, there is a lot to keep up with, decide, and do to avoid taxes and stay IRS compliant.
Will you use the completed contract method? Will you be cash basis? Is your income threatening to be ordinary or will it be capital gains? Can we hold the property long enough to qualify for long term capital gains, and if so how much will that save us in taxes versus how much will it cost us to hold it? These are just a few of the things to figure out when flipping properties.
Partner Christopher Olson, EA is an avid real estate investor and owner of Southern Bay Realty, a local real estate brokerage that provides property management services. As such, he is uniquely suited to understand your company's needs and to provide tried and true tax mitigation strategies.
Experts in Real Estate Tax Stragetgies
Property flip accountants are not easy to find. Most professional firms that flip handle their bookkeeping in-house and simply outsource their taxes, so finding a licensed accountant with substantial hands-on experience in this industry is difficult.
With Azalea City Tax & Accounting, Ken and Christopher offer their extensive knowledge of every tax mitigation strategy and accounting scenario imaginable specifically relevant to individuals and groups investing in real estate.
Cost Segregation & More
Between cost segregation and other tax strategies, our experts are intimately familiar with how to take advantage of the tax code when it comes to real estate. But don't wait until after the purchase or sale to consult with us. As with many things in taxes, it often takes planning before you make a move. 1031 exchanges, for example, cannot be done retroactively.
So call us today. The initial consultation is always free.
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