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25 November 2013 | 17 replies
Then I had a face to face 3 day IRS Audit for 2009 & 2010 but came out somewhat unscathed.
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19 September 2014 | 6 replies
Does anyone have any "statistics" (doesn't have to be audited) on the call rate and quality generated from 1st, 2nd, 3rd, etc. mailings to the same list?
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14 July 2019 | 32 replies
Had an electrician that did that, he did the work and paid him as a third party where the owner cleared the payment.When we asked he refused.Told him that we would send a 1099 in with his name and business name and date of his corporate filing with an annotation that the tax payer refused to complete the form or give SSN.Then told him, to prepare for an audit.
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12 September 2023 | 33 replies
Also if one is reading Here PM STR "audited financial report", their actual profit loss statement is negative for all their 2022 properties, even in rural properties it is negative single digit cap rate (bought for 1.5 mil and rent for $400/night with 40% vacancy).
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20 September 2010 | 9 replies
I believe you can buy property that you own a share of BUT you have to convince the IRS (if audited) that this is an "arms length transaction" that you are not receiving a personal benefit from.
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7 December 2013 | 16 replies
One example, if you are successful, someday you will likely have an IRS audit.
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16 April 2018 | 16 replies
I have a rule, I don't run up and insult great big guys (or anyone really, but that doesn't get the point across), and I don't play games with the IRS.If you are audited and it doesn't pass the "smell test", even if they can't get you on that,,they will get you on something,,,,I don't want to do anything that even looks inappropriate
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17 September 2015 | 4 replies
Holding period - You're holding period is very short (less than a year) which could lead to questions if your exchange is ever audited.
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30 September 2016 | 20 replies
If you're not using an accountant for your real estate activities then your probably paying to much in taxes or opening yourself up to a costly audit.
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28 February 2016 | 3 replies
The only two parties that are part of the 1031 Exchange Agreement are you and the Qualified Intermediary, so the only safe way to identify your replacement properties is to identify to your Qualified Intermediary.If for some reason you did not identify to the Qualified Intermediary or missed the deadline, then you can always try this as an argument should you get audited, but if the identification was not provided to the Qualified Intermediary there is no other "safe" way to do it.