
4 March 2024 | 8 replies
Education and research hours, "managing the property manager" all have failed under audit historically.

4 March 2024 | 0 replies
However, you are able to depreciate the building and its’ components.The land value is utilized in a cost segregation study and it is crucial that it is accurate so that it does not result in incorrect depreciation calculations which would open you up to the risk of an audit if it was overstated or you would miss out on tax savings if it was understated.So, we now understand the importance of the land value, but how do we calculate it?

3 March 2024 | 16 replies
Put your gas that you use for this on this card along with any other expense you incur for the property.If you have personal and business mixed when going through an audit you have a lot of explaining and proving every little expense.

4 March 2024 | 13 replies
Just make sure it's a reputable company and that their documentation will hold up in the event of an audit.

4 March 2024 | 8 replies
For those who manage 3+ flips at a time, I'm curious what bookkeeping software you use and how you keep all the expenses properly matched to each property.

4 March 2024 | 8 replies
@Mario Richardson I don't think the location of the CPA matters provided that they have a solid background in Real Estate and software/tools to support you remotely.There are 20+ real estate CPAs commenting in this forum.

4 March 2024 | 34 replies
The IRS has three years from date of filing to audit your tax returns.

4 March 2024 | 59 replies
You don't need audited statements.

2 March 2024 | 1 reply
I wanted to see if there are any specific software or websites to help aid with finding the Market Demand for different investment types?

3 March 2024 | 6 replies
I don't need software to find them.