Tax question

Are there any tax implications to Wholesaling, or is it as simple as paying taxes on the money I make?

you definitely want to get with a CPA to help you out. if you don’t have an entity, you need to get one …asap!

wholesaling income is reported on Schedule C, and is taxed along with the rest of your income at your marginal rates (bracket) and is subject to self employment taxes, too. It’s that simple.

wholesaling, where you don’t ever actually own the property, is “safer” from an asset protection standpoint, and thus reduces the need for an entity. however, there are certain tax breaks available to entities that individuals don’t have. so the choice of whether or not to form an entity for your investments is a little more involved.