
22 January 2015 | 6 replies
Understood, I agree certain tasks are definitely best kept for those that are well qualified, especially considering the liability in messing up with the IRS, but as I understand it, some of the VAs are quite skilled, considering they do lots of real estate work.For what it's worth, I did come across a piece of software that proports to actually interpret the receipt data for you...if I find the program again I'll post back.

21 January 2015 | 2 replies
@Tiffany Swann an EIN from the IRS also is needed , well that's what I believe .

22 January 2015 | 2 replies
This year I will owe significant money to the irs because of a few successful flips.What is your opinion on the ethicality of filing an extension to delay payment.

5 May 2019 | 8 replies
Well, I'll say it, IRS Code requires a full accounting of all amounts exchanged in any real estate transaction, RESPA may or may not apply, the Code applies to any RE transaction.Buyer must account for fees and expenses paid to establish the correct basis in compliance with the Code.......unless you like taking chances of tax evasion, I suggest you show and report costs.A buyer can show an assignment fee on lines in the 200 section, summary of borrowers transactions, it can be shown "P.O.C." for paid out of closing.

22 January 2015 | 1 reply
Does anyone know where the active fax number for IRS EIN applications might be?

5 February 2015 | 15 replies
There's the numbers you report to the IRS and there's the numbers you use to sell a property or business.

20 January 2020 | 9 replies
There is a catch of course, but that is normal when dealing with the IRS.

13 October 2015 | 3 replies
If you get in a snag, hop on BiggerPockets.

25 January 2015 | 3 replies
But when you leave the government, you can roll a TSP or a 401K into an IRA, which then can be converted to Roth if not already a Roth.The rules are complicated and make sure that you do everything by the book, or your IRA could be blown up and that is a specific target of interest for the IRS.

4 February 2015 | 6 replies
There might be some opportunities to hop in here or there, so stay in touch.