Deal•Lease AuditMust be Complete and AccurateMatch Current Rent Roll to LeasesConduct Lease SurveyDetermine if Certified Lease Audit is RequiredRandomly pull 1 out of every 4•Check Security Deposits, Expiration Date, Lease Amount, Utilities, other Charges i.e.

Congress CANNOT AUDIT THEM.

They are all designed to make sure every company is measured on an equal basis (GAAP) by following the same rules, and that the financials at any given point in time are as accruate as they can be as to the value of assets, liabilities, equity and income.When they don't, you get Enron and Bernie Madoff, and perhaps the bank where you sat in their board meeting.Guess I've been through too many audits, having to defend many of these reserve balances of the companies I've worked for.

By this rationale, the Supreme Court is unfit to make impartial legal rulings, as each of the members of the court have personal political, legal and religious beliefs...

reasonable and justifiable if audited.

You can look at structuring a 1031 Exchange transaction to defer the payment of your capital gain taxes if you want to reinvest in another rental or investment property.You have a short-term hold, so you need to make sure that if you are audited you can demonstrate that you had the intent to hold for investment.

No.I had my fair share of an audit, once they say no, it means no, they don't care what you say, it is what they say that matters. and when they issue a final and executory paper to you, that's almost the end of the line, and 99% of it, you will need to comply, and 1% appeal reversal.

If he has a C-Corp he could try this but this would not fly in an audit nor would it pass the smell test for a lender.Separately - that article you posted relates to C-Corporations and like most things you find on the web, people throw out ideas to make them self seem smarter than others. 

What you're mainly trying to do is avoid an audit, and have a reasonable basis for all your decisions if you do get audited.We put expenses like that down as Day Labor.

If you found that you had been under reporting rents on your taxes for the last several years, what would you do to make it right and not end up in jail and try to avoid an audit at all costs.