Capital Gains Tax Questions - Posted by Wendy Jernigan
Posted by Wendy Jernigan on April 04, 2006 at 12:59:21:
I have purchased 3 houses under my name. I created an LLC and plan on
expensing everything I can. I have a house that I am under contract to sell
April 12. My question is this: Since this house is under my personal name
and not my business name, can I do something before it sells that will help
me out at tax time? If not, can I pay myself a salary from the profits that I can
expense out, or do I have to pay capital gains first?
I also would love to hire a tax professional but I’m not sure who to hire. I
incorporated in Arizona but now I live in Texas. Any suggestions?