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how does capitol gains work?

I have an apartment complex with 6 rentals and I am losing my behind on taxes and a very honest accountant that I swear is working for the IRS sometimes. A buddy of mine that does the same thing said that he gets by on capitol gains. How does this work?

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Answer #1

That is pretty complicated. You would not be able to sell the property without paying those withheld taxes to my knowledge. I am not sure if Capitol Gains will help you unless it is your taxes that are hurting you. You can withhold near all of your taxes if I understand right. Your accountant should concede to this even if they are too honest.

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