Flipping Real Estate May Have Severe Tax Consequences
Diana Heeb Bivona
A study by First American Real Estate Solutions found that flipping houses can reap big returns. The study looked at sales in three hot markets — Las Vegas, Miami, and Orange County, Calif. — between 1999 and June 2005 and found that the annualized rate of return for three-to-six-month flips was usually 20% to 40% or more above the market appreciation rate.
However, people who attempt to flip properties should make sure they understand the rules before they are involved in an audit, or forced to pay more than they bargained for come tax season. To read more, click here.
This information brought to you by MillionSaverHomes.com a local Las Vegas real estate broker
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