
24 January 2024 | 13 replies
I pay a little extra for audit defense in case I’m ever audited.

18 January 2024 | 1 reply
That being said the IRS doesn't "check" but if your audited they could find out and get you in trouble.

15 January 2024 | 13 replies
I have 9 rental properties and pay a tax attorney $800 per year to prepare the taxes, but every year it seems that I find a few mistakes like mortgage interest not deducted on one property and insurance not deducted on another.I had assumed that for $800, someone was spending 4 hours entering my information and going through things to make sure I was getting all the deductions I was entitled to as well as preparing things so as to minimize the chances of an audit.

15 January 2024 | 9 replies
(And to the IRS, should you get audited, but that is a different conversation.)John Hyre is more than an attorney and an investor.

20 December 2023 | 11 replies
I suspect one could ask for audited financials for each project ?

5 May 2020 | 7 replies
With a nationally recognized CPA firm, annual audits and a reputable fund administrator, you would meet the minimum requirements for many investors.A strong CFO will not only bring financing expertise, but also strong risk management through adequate internal controls.

12 January 2024 | 68 replies
I guess my greatest beef with most gurus (not all, some are actually honest and straightforward, and even offer marginally beneficial advice) is the following1- they’re dishonest in numerous ways2- completing their training in no way qualifies the student to earn money or even perform competently in real property field3- the techniques they teach are often harmful to the people their students deal with4- they unleash a horde of unprepared, unqualified, unknowledgeable, misguided and unaware newbies on an unsuspecting pool of desperate homeowners5- they sell the song that all formal education is a waste of time and money6- they never provide any audited proof that they have been successful in real estate investing7- they encourage people to pay for a mentorship plan they can’t afford by increasing the limit on their credit cards8- they create falsified accounts to post how great their program is9- their programs are packaged by professional seminar companies out of Provo, Utah or Las Vegas, Nevada10- they disparage people who have spent years accumulating the knowledge, experience and capital necessary to be successful in real estate11- SOME gurus teach techniques which are unethical, immoral and even illegal.

31 January 2024 | 19 replies
Have you been audited before by IRS regarding a cost seg.?

21 January 2024 | 7 replies
Also, find out what fees you will incur with your provider as you may have to run an annual legal audit for each investment your checkbook llc holds.

28 July 2022 | 14 replies
I don’t know how well this will hold up in an IRS audit so be careful, but it seems like this level would be most appropriate for a residential property.