Entity Structure Questions & Answers (Part 1)
Friday, April 30
Selecting the right entity structure for your real estate deal can mean the difference between building and losing incredible wealth. It’s vitally important to incorporate correctly to protect yourself, your assets, and your wealth. I get a lot of questions about entity structuring, particularly ...
Automatic Pre-Audit Preparation
Friday, April 09
Everyone should do their upmost to prevent an audit on their taxes, but you should always be prepared for an audit. The best way to increase your chances of coming out of the audit unscathed is to keep excellent records. The IRS will not take your word as proof of anything, so it pays to have as ...
IRS Audit Prevention
Friday, April 02
There are many ways to reduce your chances of being audited by the IRS. As we’ve discussed in previous articles, the IRS has red flags for certain industries and tax filing behavior. Unfortunately, real estate investors and business owners stand a far greater chance of being audited than their sa...
Is the IRS Coming for You?
Thursday, February 18
Approximately 1.5% of all taxpayers are audited every year. Despite this relatively small number, the IRS still causes many people to shake in their boots when contemplating the chance of an audit. The odds are low that you would be picked for an IRS audit because the IRS does not have enough per...
The Importance of Record-Keeping
Friday, February 05
If you don't plan accordingly for your investing goals and choose the correct entity structure, the taxes will definitely hurt your bottom line in a big way. As a real estate investor, you need to stay updated on which entities are on the IRS hit list. Recordkeeping also plays a big part in wealt...
Financial Planning that Could Save you a Fortune
Friday, January 29
Financial planning requires a system you can follow to be fully prepared for tax time. It's imperative that as real estate investors and business owners, you create an accounting strategy that avoids expensive mistakes, gets the most deductions, and plans your wealth building accordingly. Here ar...