I have bought my first house to flip My husband and I have done a lot of the work ourselves can we draw a paycheck for our labor?
I have bought my first house to flip My husband and I have done a lot of the work ourselves can we draw a paycheck for our labor?
Depends on how you want to work things. Generally, your profit is your pay in a business like that. What you MIGHT be able to do is deduct your labor as an expense to reduce the tax liability of the profit.
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