However since the capital gains would be short term they would be taxed like ordinary income.
You should also look the tax you would pay as an S corp and paying yourself wages so splitting the profit between busniness and personal income http://www.taxpolicycenter.org/taxfacts/...
If it is your occupation, then those aren't considered investment properties. If you hold them for more than 2 years, you can call them investment properties if they are rented out and going concerns. If you buy a house and flip it without a resident, it is definitely not an "investment."
You need to pay SE tax on your income...because its income and you are self employed.
I am trying to figure out if a Partnership LLC is taxed as Self Employment tax AND Income tax or just one of them and which one. Also Is flipping houses considered an investment because one user said that unless its considered an investment its subject to SE tax. If its subject to SE tax why? Thx
