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Flipping Houses Has Become A Fascinating—And Sometimes Very Fulfilling—Way To Make Money. By Taking An Ordinary House And Making It Extraordinary, You Can Make A Ton Of Cash From Improving It! All It Takes Is A Bit Of Hard Work, Style, And The Initial Investment—And Voila!—Success. Welcome To FlippingBasics.com, Your Free Guide To Everything You Need To Know About Flipping Houses. Here, You'll Find Free Resources, Articles, And Information On Our Helpful, Easy-To-Use Site.

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Fix And Flip - The Formula
Making money with a "fix and flip" property is a great way to make money in real estate. However, it isn't about repairing drywall and planting flowers. It's all about how you do the numbers. People often buy and sell a fixer-upper without a definite plan. They buy a house, fix it up, then add $10,000 or $20,000 onto their costs. They then put the house up for sale at this price. Have you ever bought a house according to what the seller has into it? Of course not. You look at similar houses to determine the value. If you have $110,000 into a fix-and-flip project, and similar homes are selling for $105,000, how much will you get? It has nothing to do with what you've spent, does it? ...
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Tax Tips For Real Estate Investors Using Ira Funds

Stephen Nelson

You’ve seen the advertisements and news articles. IRA funds can be used to make real estate investments. But before you jump on this bandwagon, make sure you understand some of the tax planning angles related to this opportunity.

Passive Loss Deductions

Almost always, an important component of your real estate profits comes from the tax savings associated with depreciation. These paper losses, referred to as passive losses by the Internal Revenue Code, can save both small and professional real estate investors thousands of dollars a year in income taxes. Unfortunately, passive losses from depreciation and related, similar tax deductions won’t benefit real estate investors investing through IRAs.

Capital Gains Preferences

If you sell an investment for a profit—whether a stock or real estate—you get a tax break because your profit gets taxed at a preferential capital gains tax rate. In the best case scenario under current tax law, for example, your capital gains get taxed at 15% rather than at 35%.

Unfortunately, by putting real estate inside of an IRA, you lose this benefit. In effect, the appreciation you enjoy from your real estate investment gets taxed at your marginal income tax rate rather than at the capital gains rate. (Fortunately, the tax gets paid when you withdraw the money.)

Note: This “problem” also exists for other investments that produce capital gains, such as stocks and mutual funds that invest in stocks.

Unrelated Business Income Tax

In certain special circumstances, an IRA needs to pay income taxes on the profits it generates. These taxes, called unrelated business income taxes, essentially put the IRA investor in the same position as a regular taxable investor.

For example, if you’re developing and then flipping properties inside your IRA, you may actually be an active trade or business. And in this case, your real estate investment—even though it’s inside an IRA—may be subject to income taxes. (Your IRA custodian is supposed to report your taxable income and tax liability, and then pay the taxes but many don’t…)

And here’s another example of a situation where the unrelated business income tax can trip you up. If you borrow money to invest in real estate—the typical situation in any leveraged real estate investment—the profit you earn on the money you’ve borrowed is treated as unrelated business income. Accordingly, that profit is subject to unrelated business income tax.

Unrelated business income inside an IRA is taxed according to trust taxation rules, which means that as soon as you’ve made much money at all, you’re taxed at the highest marginal tax rates. Ouch.

Closing Caveats

Real estate is a great investment. And real estate belongs in any investor’s portfolio. But you need to think carefully about buying into the idea of using your IRA to make real estate investments. If you do decide to invest in real estate through your IRA, first consult with your tax advisor.

About the Author :

Delaware LLC formation author & CPA Stephen L. Nelson has written more than 150 books. Formerly an adjunct tax professor at Golden Gate University—the nation’s largest graduate tax school—Nelson is also the author of QuickBooks for Dummies. Copyright © by 2006 by Stephen L. Nelson, CPA. Contact him at http://www.llcsexplained.com/doityourself_Delaware.htm.

This article is distributed by: www.iSnare.com

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If you like the article above, you may be interested in the following article which is also related to Flipping Houses...

Investing In Real Estate - Can You Really Buy a Home With No Money Down?
If you've got an entrepreneurial spirit, have some time and extra cash, why not think about investing in real estate as you've got the potential to earn hundreds of thousands, if not millions of dollars a year simply by turning "flipping" homes over. This is particularly true these days, which is still very much a reality in this country even amidst all the talk about the real estate bubble. Investing in real estate has become a booming business for people of all backgrounds and start-up capital. Why? Because being a real estate investor is not only easy, but it's rewarding to see your hard work pay off so quickly when you make a sale with little or no money down. Just on September 30th, there was a special segment on ABC News, 20/20 about the latest real estate boom in America. Real estate boom really has people flipping for Miami and all around the country, particularly in cities like Chicago, Boston, New York and LA. Click here to read more on ABCNews.com Some Important Tips In Getting The Most Out Of Your Real Estate Investment Opportunity <ul> <li> If you're low on capital money to invest in real estate, form a partnership with friends, family or colleagues. File a business name with the State Corporation Commission and register with your local city to become a legitimate tax-paying entity. Once the group of you is able to pull funds together, put them into a bank account under your business name. You can then approach the bank for a bank loan for your business, increasing your chances of getting funding. Creating a legitimate business not only can act as a liability shelter for you, should your venture prove to be non-profitable, but it helps to create a friendly working relationship with your new...
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