WHOLESALING SHORT SALING

[PUNKIN]

HELLO TO EVERYONE,
WHEN REAL ESTATE INVESTOR WHOLESALE/SHORT SALE THE PROFIT THAT INVESTOR MAKES I WOULD ASSUME THAT IT IS TAXABLE, BUT IM NOT EXACTLY SURE. ANOTHER THING IS DO REI HAVE TO COME UP WITH A BUSINESS NAME OR CAN IT JUST ALL BE INDEPENDENT. FOR EX. LEGALLY AS A REI WHAT SHOULD I DO TO PROTECT ME FROM AND AUDITS.

[BLL11]

@PUNKIN post:1

HELLO TO EVERYONE,
WHEN REAL ESTATE INVESTOR WHOLESALE/SHORT SALE THE PROFIT THAT INVESTOR MAKES I WOULD ASSUME THAT IT IS TAXABLE, BUT IM NOT EXACTLY SURE.

All profit is taxable.

@PUNKIN post:1

ANOTHER THING IS DO REI HAVE TO COME UP WITH A BUSINESS NAME OR CAN IT JUST ALL BE INDEPENDENT.

You can operate under a business name or your own. I suggest you stick with your own name for the time being. Compliance will drain resources that you could use to build your business.

@PUNKIN post:1

FOR EX. LEGALLY AS A REI WHAT SHOULD I DO TO PROTECT ME FROM AND AUDITS.

Comply with the tax code and have citations to support aggressive positions.

[John_Hyre]

Punkin,

I could write a book to address each of your questions (and in fact have on bookkeeping & entiities). Your questions are much too broad to properly answered here, except in a very broad manner. You might read up a bit and ask more specific questions that generate answers that are more directly useful to you.