17 September 2024 | 6 replies
We don't do an 80/20 or 70/30 rule as it doesn't give you any ground to stand on if ever audited.
21 July 2023 | 36 replies
As I stated in the post above I have my B.A. in Accounting and Finance, CPA eligible, Took audit and got a 70.... twice. now the option is to become a real estate agent to become a better investor because I would be working in the field etc. or focus all my time and energy passing the exams and working with a CPA firm.
27 November 2024 | 10 replies
100% agree.. especially with syndication once your money is in their account you have zero control.. your not on the checking account your relying on either sponsor prepped financial although some are audited which is better of course..
2 August 2024 | 53 replies
That said, "chickens coming home to roost" from the various seller-financing deals done WRONG is a very strong potentiality, as issues of such will most likely grow in occurrence and thus possibly press internal audit's that uncover such, and resulting enforcement actions start enacting in a volume.
26 January 2021 | 42 replies
For example:- building 1: Me, Partner 1, Partner 2- building 2: Me, Partner 2, Partner 3- building 3: Me, Partner 2, Partner 4etc.By keeping everything completely separate, audit trails can easily be set up and the integredy of the Accounts are maintained.Each Building Partner can have read only access to the Accounts so they can monitor it for excessive expenses, fraud, etc.In fact, this helps build confidence in me as the manager for the Buildings amoung all 10 of my Partners.Is it difficult?
18 October 2024 | 8 replies
The size of your tax return, whether it’s 250 pages or more, doesn’t inherently increase your chances of an audit.
22 June 2016 | 14 replies
There are lots of people who have done all kinds of things and been fine, it's just because they haven't been caught or audited yet.Seek the guidance of a tax professional before doing anything (or at least educate yourself as best you can).
26 November 2017 | 3 replies
It will be a tough explanation for a field agent if ever audited.
4 October 2024 | 15 replies
Yes, it is like auditors and many of the auditing companies do this.
2 October 2017 | 42 replies
Put clause you will have quarterly audit.