Michael Morelli
Short term rental marketing strategies
23 February 2024 | 13 replies
Hey Michael - I'd love to give you a specific pointers if you'd like me to run an audit of your listing.
Chris Murdien
Would installing solar panels on rentals be a wise investment?
23 February 2024 | 12 replies
Hint: look for a solar architect, who acts as an adviser and works for you and audits the installer project proposal.Many states/utilities are no longer allowing net metering (kWh for kWh) and use instead all kinds of payback schemes (e.g. if you over-produce, they will gladly take your kWh for 3 cents and graciously allow you to take it back at night for 22cents - end result being, if your system is not properly sized, you will be producing energy for the utility and never recover the costs of the installation).
Eugene Thompson
renting a property in my LLC name
21 February 2024 | 4 replies
The landlord said that its not zoned for business and that would raise flags with the IRS and i could potentially get audited. keep in mind that i have a consulting business. is there some truth to this because i do have a home office at the house as well. the rent is 1600 per month. that 1600 per month and utilities wouldn't be a tax write off to my LLC?
Julio Gonzalez
Choosing a Cost Segregation Company
19 February 2024 | 0 replies
You will receive a report as a result of the cost segregation study that supports the breakout between asset classes and new depreciation schedule in the event that you are audited by the IRS.
Brett Dudley
Short term rental loophole then long term rental in the future
17 February 2024 | 9 replies
@Brett Dudley - we have yet to see any court cases for what happens when an STR becomes a LTR, but the IRS looks at facts and circumstances... since you are on public record by posting here that your main concern is the tax benefit, it may not fall in your favor during if you were ever audited.
Ian Stromski
Finally Ready to start!
16 February 2024 | 6 replies
Be sure you are working with a CPA that understands the value of leveraging the tax benefits on investment property and working with an engineering-based cost segregation company with on-site property reviews and audit defense at no cost if ever needed during your ownership.
Sonia Kulkarni
STR Cost segregation make or break questions
16 February 2024 | 2 replies
@Sonia Kulkarni1, yes, but the IRS may look at intent under audit.
Andrew Belz
Purchasing a Property Management company
16 February 2024 | 8 replies
Our last step is running a forensic audit of the company (S - Corp) and then we will write up the contract to purchase.
Chris Seveney
Easiest Predictor Of Losing Money In A Fund
15 February 2024 | 3 replies
Having Audited financials completed on time.So how would you know?
David Lopez
My Cpa Retired in 2021 and i am doing my own taxes
16 February 2024 | 16 replies
I pay the extra 80 bucks or whatever it is for audit representation if it ever happens.