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Wholesaling real estate is a great way to get started in investing but what about taxes and asset protection in your wholesaling business?
If you think you don’t need asset protection just because wholesaling is primarily done on paper THINK AGAIN because there is a risk when it comes to real estate wholesale activities.
When you wholesale you’re going to have active income which if you’re doing it in your own name should fall onto your Schedule C so that brings tax ramifications. Employment taxes in and of itself can be a problem.
Another issue. What happens if you want to hold those wholesale properties longer because you have to apply for financing?
What you need to know about wholesaling, taxes, asset protection and the best way to structure your wholesale real estate business is covered in this short informative video.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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