Entity Structure Questions Part 1
Friday, May 26
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 o...
Ten Reasons NOT To Use Corporations for Real Estate Ownership
Friday, May 12
Why use an LLC partnership instead of a Corporation?LLC-partnerships avoid the following corporate disadvantages by default (automatically); by election; or by planning. When referring to a partnership the term “partner” includes a member of an LLC or more specifically of an LLC-Partnership. Su...
How to Pick the Right Real Estate Lifestyle
Friday, May 05
Choosing a real estate investing strategy can be a huge dilemma, especially when you are just starting out. Should you invest in short sales, note sales, or flips? Should you invest for cash flow or appreciation? Do you invest in your home town or nationally? Trying to decide where to start can b...
Automatic Pre-Audit Preparation
Friday, April 21
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 audit unscathed is to keep excellent records. The IRS will not take your word as proof of anything, so it pays to have as much...
IRS Audit Prevention Tips
Friday, April 07
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...
IRS Court Cases Featuring Real Estate Investors
Friday, March 31
Here are some IRS court cases featuring real estate investors that show how important tax documentation and preparation is to protect you from huge penalties.Real estate activities are considered passive by default. Passive losses, of course, may generally only offset passive income. Unless, that...