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A couple ppl I know, flip houses. I asked them if Capital gains tax was eating into their profit. They told me that they don't need to pay capital gains tax, due to the fact that they consider the houses they flip to be the "inventory" of their LLC.
What do I know........But, that doesn't seem correct to me. However, they seem pretty confident that they are right about it......Anyone know if this is the case?
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Coooostanza.....icq# 195813751
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