The first thing you need to understand when setting up yourself to be a house flipper is the IRS classification of the property. As a flipper, the property is not considered investment property, rather inventory. This means you need to track all of the expenses to determine if they can be deducted right away or once the property is sold. We understand how to account for these deductions and how to make the whole process easier for you.This means the companies do not withhold any taxes from the money they pay you.
We want to help you setup a scalable, sustainable process to grow your business, while minimizing accounting headaches and saving you taxes.
We pride ourselves on knowing the ins and outs of investment and flipping properties to help you manage your business and eliminate the worry around taxes. We knowing the unique deductions flippers can take, like the the cost of tools, building materials and professional fees. As your financial partner, we help you minimize your tax liability by taking advantage of tax credits and deductions, enhance your profits, and improve your cash flow. We also help you plan for the future. These are just some of the benefits we offer:
Don't Lose Out on Deductions
Our team of experienced tax and accounting professionals are ready to help you achiece the financial success you deserve. For more information about our accounting services, please fill out the contact form below.
At Brew City Accounting and Tax, we are proud to service the accounting needs of Muskego, Wisconsin and the surrounding areas with over 15 years of experience. If you need help managing any aspect of your home or business's finances, we want to hear from you.
Please fill out this form and let us know how we can be of service. We will happily offer you a FREE initial consultation to determine how we can best serve you.
Thank you for visiting. We look forward to working together!