
17 May 2014 | 3 replies
So, you really need to do your due diligence in finding a mortgage broker/RMLO.Get references, then see if those references have any relationship with the LO,Look to their last state audit and compliance exam, if they never had a compliance exam, move on.Do they have the net worth to buy, at par, any loan they do that is non-compliant?

25 January 2016 | 18 replies
Then, when you get audited you find out that the problem is an underlying matter that you failed to disclose (not knowing) when you got assistance and the IRS has no liability in giving you that assistance.

26 May 2021 | 17 replies
Not having your Operating Agreement done correctly could be disastrous if ever sued or audited.
23 September 2013 | 7 replies
They are $300 a year (at least in my state) and he also noted that you are more likely to be audited.

26 February 2017 | 26 replies
May I ask the info for next Auditing such as time and location?

3 June 2020 | 8 replies
So, I just really don't see any reason to fear the IRS in this case, unless you are afraid of an audit.

6 November 2018 | 7 replies
Stick that information in your tax records so that if you are ever audited (or asked) why you did what you did, you have information in your file to defend your numbers.

29 June 2024 | 9 replies
I would think because of audits they would make that the case.

25 October 2023 | 21 replies
Achieving (more importantly justifying) Qualified Real Estate Professional status is doable but complex and you’re going to need your own property in order to justify having annually spending that amount of hours (it is highly unlikely that any QREP audit would hold water based on you (or non W2/1099 income spouse) allocating the required hours on someone else’s passive deal).

4 December 2023 | 8 replies
You also should have audited financials done (which will cost $10-$15k so a $450k fund makes little sense)Can you get away with not doing this, yes but if it goes bad and someone gets upset and files with the state regulator you will basically go bankrupt with the fines (and potential prison time).Lastly you have to file a form d with the sec BEFORE raising money and you also have to file each time you have a new investor in that state.My recommendation is get an attorney like yesterday.