Tax rate when flipping houses through an LLC?

[Chuck Z]

If I form an LLC and purchase property through it for the purpose of flipping within 90 days, will my LLC pay capital gains tax on the profit or is the profit considered income to the company that is not taxed until years' end?

If capital gains are incurred, when are they due and payable to the government?

[sortaclarksville]

You will pay the taxes at the end of the year when you file your corporate return. You may want to make quarterly payments throughout the year, though, so you aren't hit with a big bill at the end.

I think corporate returns are due March 15th. Not 100% certain, though.

[Tim]

It is considered ordinary income and taxed as such, not capital gains.

[Mary B]

There are too many factors to consider, and there is no way someone could even quote you a ballpark on here. It depends on how much you sell them for, the price range, the profit, the amount of money you are putting into them, if you are using any neighborhood funds to fix them up....it's impossible to gauage.

You need a CPA, not a seasonal tax preparer to help you with that question. You can get into serious tax trouble if you don't use a qualified professional.

[Dr. Deth]

You can make estimated payments - it you don't and wind up too much underpaid at end of year, you could get nailed with an underpayment penalty -est pmts usually due 3/15, 6/15,9/15,12/15 - but double check www.irs.gov to make sure