Douglass Belt
Tenant Paying for Energy Audit
I tried searching the forums for this topic and could not find one, so apologies if this has been asked before and I did not see it....
I have a tenant who wants to pay for an energy audit (Includes installat...
Renjie Song
Cheaper and more user friendly cost segregation app
Hi all,
Like many small landlords, I am trying to take advantage of cost segregation to increase my depreciation and further reduce tax liability.
However, a full-engineering approach is quite costly (easily over $...
Deborah R.
Is Bonus Depreciation Worth the Audit Risk?
For 2022, my husband met Real Estate Professional status. I am a high income W2 earner. We filed an extension for 2022 taxes and are just finalizing them now. Our CPA says that if I cost segregate and bonus depreci...
Joe Scott
Tax return size --- an audit flag?
Is having a ton of rental properties & installment sales in a massive 1040 tax return - an IRS audit flag?? I have about 60 rentals and 25 installment sales. I'm continuing to add more over time. Most are cheapie ...
Adna Rubio
Good Info! - Avoiding an IRS Tax Audit By Kevin J. Bassett, CPA
As I continue researching the world of real estate investing and with the IRS April 15th date still fresh, I thought I would share this great article by Raleigh-Durham CPA, Kevin Bassett, who specializes in real estat...
Diane G.
Been IRS audited upon sale of rental property??
Have anyone been picked for IRS audit upon sale of a rental property?How many years does IRS go back in terms of checking the reported expenses and income, and the accumulated gain/loss over the years? If you read t...
Timothy Lewis
CPA vs. RE Accountant vs. RE Attorney for Tax Planning???
Hello BP World!When it comes to handling Real Estate tax, I consistently hear 3 different titles of tax professionals/specialists thrown around: RE Accountants, CPAs that specialize in RE, and RE Attorneys. I'm lookin...
Yuriy Tymoshenko
IRS Tax Bill: after all these years
After 3 years, IRS has figured out that I owe they some money. They send me a tax bill claiming that I owe them $500 from 3 years ago. IRS is claiming that I made and didn't declare capital gains in 2010.
I a...
Josiah Cooper
Creating Your Own PM Company
Hello BP Community!I wanted to get some opinions on creating a property management company for our rental properties. I have heard of people owning properties and then creating a PM company that "manages" their proper...
Pete Hathaway
Post Closing Lender Audit?
I'm currently buying multi-family properties with the goal of leaving my 9-5 office job. Should I be concerned about the lender doing a post-closing audit and accelerating the loan once they discover that I've left m...