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13 November 2024 | 10 replies
While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.
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14 November 2024 | 24 replies
And it's actually scary that he controls the acquisition and rehab part of the process.
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6 December 2024 | 51 replies
The difference is, if you don't specifically lay things out, you implicitly agree that the prenuptial agreement is the laws of the state you currently live in (or the future one you live in at the time of divorce).
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6 December 2024 | 10 replies
Start-up expenses like the ones you mentioned can’t be fully deducted in the year they’re incurred.
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7 December 2024 | 0 replies
Put the work in to get it cleared then sold it to investor who bought property to hold it.
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6 December 2024 | 6 replies
Look at the trailing 12 month's expenses on the seller's operating statement.
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6 December 2024 | 5 replies
The average person thinks about a dollar and how they can spend it.
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12 November 2024 | 12 replies
., I would post it up competitive with the others in the resort.
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6 December 2024 | 10 replies
The tenant isn't stupid and knows he owes the rent, so he will probably pack up and leave before the court hearing.
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6 December 2024 | 2 replies
No, just inform them you are the new owner (they may want proof) and provide them with the address to send payments.