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Reload this Page Considering rehabbing homes in Philly... taxes? (auctions, income tax, property, tax)
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Old 02-25-2015, 10:27 PM
 
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So I'm considering buying and flipping in Philadelphia... let's say I buy a property in a sheriff sale.. what taxes are there that I should be watching for with buying and flipping?
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Old 02-26-2015, 05:38 AM
 
Location: Mount Laurel
4,187 posts, read 11,934,602 times
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Originally Posted by BrooklynTurk View Post
So I'm considering buying and flipping in Philadelphia... let's say I buy a property in a sheriff sale.. what taxes are there that I should be watching for with buying and flipping?
You asked for this info on another thread already. Answer is found in the link

//www.city-data.com/forum/phila...l#post38424706
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Old 02-26-2015, 07:49 AM
 
147 posts, read 162,109 times
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Originally Posted by sj08054 View Post
You asked for this info on another thread already. Answer is found in the link

//www.city-data.com/forum/phila...l#post38424706


Does that show a list of all the taxes I must deal with?
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Old 02-26-2015, 09:49 AM
 
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Originally Posted by BrooklynTurk View Post
.. let's say I buy a property in a sheriff sale.. what taxes are there that I should be watching for with buying and flipping?
Property taxes come to mind. (You don't need to worry about income taxes unless you make money.)
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Old 02-27-2015, 06:12 AM
 
Location: Mount Laurel
4,187 posts, read 11,934,602 times
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Originally Posted by jackmichigan View Post
Property taxes come to mind. (You don't need to worry about income taxes unless you make money.)
You do in a way. First thing you have to make sure is that you are tax compliance with Philadelphia. If you owe any taxes with the city, you will not be able buy s sheriff sale.
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