Michelle Curran
Cost Seg on a STR Reno all Self-done
8 May 2024 | 7 replies
If you would like to see the guidelines for IRS auditors regarding Cost Seg, you can find them starting on Page 24 of this document https://www.irs.gov/pub/irs-pdf/p5653.pdfI would be very surprised if you could claim unpaid labor in your Cost Seg.
Dan Lucchesi
Cost Segregation - A Red Flag For the IRS??
7 May 2024 | 13 replies
He is a former IRS auditor, before going out on his own.
Vatsal Shah
Sheriff Sale: Inheritance/Estate Tax liens on foreclosure property
5 May 2024 | 2 replies
Go to the city or county auditor or treasurers office and ask them.
Zachary Schimenz
WARNING: Don't Use Ohio Cash Flow unless you want to lose thousands of dollars
8 May 2024 | 112 replies
Those that have nothing to hide aren’t afraid of any audit or investigation or press release.
Joshua Michael Hauman
What stories a house could tell if it could talk?
24 April 2024 | 0 replies
This can be found on the county auditors website in many cases and will help you verify if the changes you see are in line with broader urban planning strategies.Engage with the Community: Sometimes, the best insights come from local residents.
Karthik Natarajan
Property tax estimation
19 April 2024 | 3 replies
., including Columbus, OH.An assessor ("auditor" in OH - https://property.franklincountyauditor.com/_web/search/commo...) determines value and enforces the millage rate; the commissioner ("treasurer" in OH - https://treapropsearch.franklincountyohio.gov/) issues the tax bills and collects payments.
Jonathan Small
How to account income from multiple properties on a single 1099
17 April 2024 | 6 replies
As long as the total income reported on your tax return matches or exceeds the total income reported on your 1099s, and you have documentation supporting the breakdown of income by property, the risk of audit or inquiry may be relatively low.Pros of the approach:Compliance: Helps ensure compliance with IRS reporting requirements by matching the total 1099 income on the tax return.Risk mitigation: Reduces the risk of IRS flags or inquiries related to unreported income.Cons of the approach:Complexity: Requires additional documentation and statements to reconcile the reported income with the 1099s, potentially adding complexity to the tax return.Time and cost: The additional work required to prepare separate statements for each property may result in higher accounting fees.Ultimately, it's essential to weigh the pros and cons and consider the specific circumstances of your situation.
Joseph Hammel
Funding a solo 401k from rental income.
17 April 2024 | 13 replies
The IRS is still around, like it or not, and they are hiring and training a new army of auditors as we speak.All of these factors combined add up to the same message I posted earlier: in order to fund your 401k with $20k, your business need to make significantly more than that number.
Beth Anderson
Excited Newbie in rural NE Ohio
13 April 2024 | 13 replies
As a result, I've been driving for dollars and mining the county auditor's website for properties with delinquent taxes.
Account Closed
RV Office Write off. Is it a TRAP?
11 April 2024 | 10 replies
And as I told the Auditor why would I go to Indy in Feb.. and look I have 10 loans on my books in Indy and I live in Oregon..