OfflineHi everyone, I would like to know how much of my real estate profit should I reinvest into other deals and how much should I spend and keep for taxes. I've heard that you can't spend much of your profits (say from flipping a house) because you will be highly taxed. I don't know if this is true or just a myth. I would like to know from anyone who is used to making significant money in REI. I'm trying to determine how much I would actually need to profit to reach my financial goals. Any other info regarding this subject is greatly appreciated. Thanks
Deshone
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I know there are tons of you out there making money in REI. Don't be shy with your success. Lol
No responses is surprising. I know there are people making money in real estate and I'm shocked that no one has given any advice on the managing of RE Profit. Maybe if I change the Headline to something more eyecatching. Aha!!
to get with an accountant to discuss this matter. You should have your LLC or S-Corp set up and your accountant will guide you with strategies for how to reap the best benefit out of your profit and not pay uncle sam too much at the end of the year.