Info

EMPIRE LIFESTYLE

Ola "Mr Tux" Abitogun is the Creator of myEmpirePRO. We talk about real estate, wholesaling houses, entrepreneurship, building empires and more. He is a computer engineering and engineering management graduate from New Jersey Institute of Technology; class of 2004/5. He was born in Dallas Texas and raised in Nigeria. Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly he is husband and father to their 2 Boys. Ola is personally responsible for $3+ Million in revenue within his first 24 months and continues to shatter through caps since. He has also been personally involved in helping 1,000+ entrepreneurs around the world. FREE PDF Download: Empire Lifestyle Secrets http://myEmpirePRO.com
RSS Feed Subscribe in Apple Podcasts
EMPIRE LIFESTYLE
2018
November
October
September
August
July
June
May
April
March
February
January


2017
December
November
October
September
August
July
June
May
April
March
February
January


2016
December
November
October
September
August
July
June
May
April
March
February
January


2015
December


All Episodes
Archives
Now displaying: Page 1
May 8, 2018

FREE BOOK ►►► http://myEmpirePRO.com/freebook

In this episode, you will discover my unique way to how to report house flipping on tax return.

Most people trying to build a a house flipping business are often involved in the wrong questions.

Actually, this topic is one of them.

Regardless, I've taken the time to answer the question without replacing your professional CPA.

First of all, here is a quick disclaimer.

Consult your professional CPA for professional advice as the information in this email are simply my opinion from an active real estate marketers stand point.

FOCUS

The first thing is to make sure you are FOCUSed on activities that create sales and revenue back to back.

It's the one single thing that you keep you out of trouble with Uncle Sam and his disciples.

50%

Any money I make in business after learning a few lessons is not to be used until I set 50% of it on the side.

It doesn't necessarily mean its going to taxes; it's just my second way of staying out of trouble with Uncle Sam.

Yes there are things like 1031 exchange for deferred taxes.

However, it's not applicable when flipping the same house within the same year.

PROFESSIONAL

Last but not least, make sure you consult with a local professional CPA (Certified Professional Account)

ENJOY THE VIDEO

Click this link to make a donation to support my work:
►►► http://olatux.com/donate

ABOUT YOUR HOST ::::|

Ola "Tux" Abitogun is the Creator of myEmpirePRO. He became a FULL TIME entrepreneur in October 2006.

He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.

Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and father to their 2 Boys. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.

Follow OLA Online Here:

Instagram :|: http://instagram.com/iTuxB
Facebook :|: https://www.facebook.com/iTuxB
Twitter :|: http://twitter.com/iTuxB
Snapchat :|: https://www.snapchat.com/add/iTuxB

PODCAST
iTunes :|: http://apple.co/2ktmxnn
Stitcher Radio :|: http://bit.ly/2j56O1N

MOBILE APPS
Apple App Store :|: https://appsto.re/us/NQrM_.i
Google Play Store :|: http://bit.ly/2jpTROo
Amazon App Store :|: http://amzn.to/2ktaA5q 

WEBSITE
Personal Blog :|: http://OLATux.com
myEmpirePRO :|: http://myEmpirePRO.com

#myEmpirePRO #OLATuxAbitogun #houseflipping

BLOG POST - http://myempirepro.com/blog/how-to-report-house-flipping-on-tax-return/

0 Comments
Adding comments is not available at this time.