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31 January 2025 | 6 replies
You should consider private money!
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13 January 2025 | 7 replies
Section 179 deductions may apply to assets directly supporting your business, excluding personal-use components.This post does not create a CPA-Client relationship.
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29 January 2025 | 6 replies
Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor Ā§704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:š¢ 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:š¢ 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentationā
Clean operating agreementā
Economic substanceā
Partner contributions tracked(Don't need War & Peace complexity)Economic Realityā
Allocations match economicsā
Real money movementā
Actual partner participationClean Reportingā
Consistent K-1sā
Required forms filedā
Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?
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14 January 2025 | 16 replies
I really appreciate the encouragement, support, and advice!
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7 February 2025 | 5 replies
If you had also spend money on renovations and improvements while occupying those should have gone into service then as well.Ā
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19 February 2025 | 32 replies
If you don't get to know them and build some trust, you're just going to be dumb money or "the guy from California" that they up charge 20-100%.
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27 January 2025 | 1 reply
Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.
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26 January 2025 | 2 replies
Alternatively, investing in money markets is another consideration.
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7 February 2025 | 9 replies
Sometimes, we tax professionals can save you a lot of money or save you from a major problem.
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25 January 2025 | 14 replies
Quote from @Emily Gowen: I only recommend investors sell when they can move the money to a better-performing investment or when the sale moves them closer to a specific goal.