Posted by Karlz on February 16, 2001 at 24:14:41:
I thought I might have to make a corp or LLC or something for tax purposes, but really haven’t looked at that much in depth as of yet. Kind of brings anothter question to mind.
Do you set aside a certian amount each sale to be used for taxes? Was kinda thinking along the lines of aprox. 25% of profit into a money market or something to cover any tax liabilities. I’d hate to have to rush around and try and sell a property at the end of the year to cover the tax mans cut.
I guess the best thing to do would be for me to go talk to a tax man and get some answers and a plan set up