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Houses would be treated as inventory - so profit will be classified as business income.There is no "best business structure" - all depends on circumstances .
For instance if most proceeds will be distributed to physical persons - some tax saving would provide S-corporation.
However - if you want to keep funds in business for future investments - C-corporation is preferable.
You might want to have more complex structure.
But there is no one solution to fit all purposes.
If we run the business as a partnership - all taxable income will be passed to partners.I assuming four partners - so each will realize $125k - $250k net self-employment income
Let assume for simplicity $250k, single, no dependents, standard deduction, no other deductions or credits.Estimated tax liabilityRegular Income Tax: $59,178Self-Employment Tax: $21,389Medicare SurTax: $449Total tax liability - $81,016
So that would be a starting point - and we may try different structures and verify HOW that will affect total tax liability.
I am not asking questions - but making assumptions - do you agree?
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