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18 November 2024 | 5 replies
Let us know if there’s anything specific you’re diving into or questions we can help with—everyone here’s always happy to share advice.
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13 November 2024 | 10 replies
While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.There's this thing called Hierarchy of Tax Authority that CPAs and Tax Attorney's reference.Let's not get too carried away with comments like, It serves as a guide and cannot be used, cited, or relied upon as an authoritative source....
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16 November 2024 | 7 replies
Quote from @Rocky Gibson: Hi -Hoping to get some advice and/or connect with a potential lender for my scenario.Currently I own a 37 Acre lot with 1 Duplex and 1 SFH.
18 November 2024 | 1 reply
Stay safe, and if you need any local support or advice, I’m here for you!
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18 November 2024 | 1 reply
I learned a lot. lol I just need to move forward so any advice would be appreciated!
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19 November 2024 | 28 replies
@Sharon McCants - I lean toward the advice from @Jonathan Greene on your question.Years ago, I made the mistake of forgoing quality for quantity, which led to headaches and a fundamental change in the way our company operated and in the way I personally invested.
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18 November 2024 | 3 replies
Any advice or strategies would be greatly appreciated.
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18 November 2024 | 4 replies
Some advice on HELOCs:Only use 50 percent of the total amount you have available and earmark 15k of that for reserves.