Single member LLC. Several property flips for year 2022. Short term capital gains of around $85,000.00. Need creative recommendations to reduce my tax liability for year 2022. I have a high W2 income so tax bracket is on the higher end. I have expenses that can be deducted for repairs/upgrades to properties but not enough. Any ideas? I have read about depreciating the purchase of a company vehicle but not clear on specific details it would be a truck not a corvette. 1031 was not an option due to the nature of the rapid real estate transactions. I would prefer to do something that I can use or benefit from now and not if I make it to 65 years of age.
