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Results (5,494+)
Nisheeth Gupta Tracking time for 'Real Estate Professional' status
14 March 2024 | 1 reply
I was recently flagged for tax audit, and one of the asks was to show all hours spent on real estate.
Landon Hale Real Estate Professional Status?
7 March 2024 | 7 replies
We just don't want our clients to face issues if they were ever audited and I'm giving you the same advice! 
Michael Doherty Tax Filing: Professional Real Estate Status
10 March 2024 | 5 replies
All you would need to say really is that you materially participated in the business during the tax year and just be prepared in the case of an audit/IRS notice.
Lahiru S Hettiarachchi Gamage How to get the tax advantages against W2 income
26 March 2024 | 6 replies
Education and research hours, "managing the property manager" all have failed under audit historically.There is a lot more nuance here I could go into, but I would strongly advice you talk with a real estate-focused tax professional.
Karen Bolyard Capital Gains Question
4 March 2024 | 8 replies
Education and research hours, "managing the property manager" all have failed under audit historically. 
Laura Van Lenten Cost segregation self survey instead of full study?
8 March 2024 | 8 replies
Do they provide audit protection?
Joel Oh Write off luxury car under STRs?
7 February 2024 | 34 replies
If you get audited good luckNot a cpa or tax professional just telling you what has been relayed to me by several CPA’s
Rylan Zwanziger Wealth Ability- formerly ProVision - Tom Wheelwright
28 February 2024 | 63 replies
There's no grey area here and under an audit, this would easily be reversed.Originally posted by @Eamonn McElroy:@Michael Blank"I know a doctor who's been working with them; he's a passive investor with HUGE active income; Wealthabilty helped him figure out how to leverage the real estate depreciation to reduce his taxes."
Hong Zhu Tax season- Schedule C or Schedule E
29 February 2024 | 5 replies
I have seen to many people try to do taxes themselves and then we have to go back 3 years and amend the returns because the taxpayer either is exposing themselves to audit risk or missed out on a great deduction that would have resulted in a larger refund 
Neera Melwani Tax Filing & Cost Segregation
26 April 2024 | 5 replies
It falls under the automatic consent procedures, so it does not need approval - it could still be audited though 3.