Audit any agreements you have that go off of a calendar year?

And if the buyer did the same, with a separate valuation for the same property, doesn't that increase audit risk, since a seller is stating carpet was worth nothing, or minimal, and the buyer wants the carpet worth as much as possible, to write it off?

IRS has an Audit Strategy Guide you can download (I think its the "Construction Industry" one) that explains it as well, more or less.

Also, the California insurance commissioner is auditing the crap out of title and escrow companies that allow a double close.

I did actually point out to the loan officer (lol) that according to Fannie guidelines they can accept current year earnings as long as you can show an audited profit and loss showing the good numbers they want to see.

I think it is a pretty insignificant point, would go under the radar, and no one would ever know the difference anyway, unless maybe a detailed audit was done.Any feedback?

This means lease audits, analyzing expenses, particularly property taxes, etc.Good luck

What the IRS requests during an audit may differ.I am equally certain there is probably a fine line between "contract labor" and "casual labor".

One of the biggest points of having an escrow officer, is that they act as an impartial third party that tallies fees and accepts money, which then gets distributed to the appropriate parties.

[Life Audit] 🤔As Brandon says, there are many ways to skin a cat.Your answers (no right or wrong) to this questions should help you determine your next course of actions.