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Author Topic: Contract assignments and the IRS  (Read 1166 times)

Offline independentboss

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Contract assignments and the IRS
« on: January 21, 2010, 08:17:19 am »
How does one go about handling taxes for someone who makes a living assigning contracts and not actually buying property? WOuld this be considered dealing

Offline aaronwilliams123456

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Re: Contract assignments and the IRS
« Reply #1 on: January 21, 2010, 09:06:13 pm »
It could be considered dealing. That's why you you need to assign contracts in a separate entity. This way if you are accused of being a "dealer" it would only effect that entity only. The long term properties should be held in a separate entity so they won't be effected.  Good luck.
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