.: Hello,Did anyone received post closing audit from mortgage company.

These marketers would have the novice investor believe that the narrow focused “education” they provide combined with the “holy grail” formula (wholesaling, subject to, flipping, lease option, discounted note purchase, etc.) is most, if not all, anyone needs to become “independent” and successful, usually by month 12.

@Clive Smith I have a sample log in format that follows the IRS Audit Techniques Guides (ATGs).

If they work independently, set their schedule, and use their resources, they might qualify as a 1099 contractor, but misclassification risks IRS penalties.Wages for W-2 employees and payments to 1099 contractors are both deductible business expenses, but compliance is key.This post does not create a CPA-Client relationship.

I notice that "Notice of an Independent Solar Energy Producer Contract" comes up a lot when filtering through Liens.

However, full site visits, though more expensive, maximize tax savings by capturing every depreciable asset and offer better audit protection.While online studies may be suitable for simpler properties, full site visits are ideal for complex or high-value properties.

I have been able to review or been told of several audits (from other REI tax colleagues) related to cost segs in the last year or so- and of those none of DIY cost segs were allowed under audit. 

These include drafting offering documents, adhering to ongoing disclosure rules, and audits, which can easily run tens or hundreds of thousands of dollars.

My accountant wants me to start doing this in the event of an audit being I’m starting larger projects and will be implementing cost segregation Thanks

Are you saying that the IRS-1065 Is going to be pulled into an audit, or will just the disgruntled partners IRS-1040 be pulled in for the audit?