The IRS released new guidelines and best practices for their internal review/audit process of 179D tax deduction claims. If you have claimed this deduction or plan to in the future, ensure that your CPA or tax special...

Hello BP,So I'm a few flips into a business endeavor here and have come to the point where it is really time to get organized.  One of the issues I'm having trouble with is the accounting aspect.  All of the accountin...

I am considering transferring funds between one profitable S Corp into an LLC for the purpose of purchasing a property.  Is it better to transfer the money to my personal account as a share holder distribution and the...

Hi, I just moved to San Diego and started real estate investing last year. I purchased a rental unit and did some private funding in 2016, and I will probably expand this business by doing more deals. Now it comes to ...

A key component of my real estate strategy involved cost seg studies, claiming REPs and accelerated depreciation to shelter a large amount of active income. However, I've been speaking with a couple companies and gett...

As most of you know, as part of the IRA, the IRS was allocated significant funds to hire new employees. With that comes an increased audit risk. One of the things that IRS auditors look for when auditing a cost segreg...

I originally bought this 40 unit apartment complex in 2021 in Nw huntsville, Alabama and since then we've maintained a sub 10% vacancy rate year over year. It wasnt until this year that people that moved out seemed to...

As a specialized real estate CPA, I'm here to provide expert guidance on your most complex tax matters, from navigating 1031 exchanges and cost segregation studies to optimizing your rental property deductions and han...

Hi folks, I'm in the process of exploring the Kansas City market to invest in from a distance. In the past, I have invested in Texas/Georgia and now looking to Kansas City. I have always had trouble with property mana...

This is a follow-up to my recent post about IRA audit myths. In this long sequel, I will discuss hiring audit and "IRS audit insurance."
1. DIY IRS audits.
Can you defend yourself against an IRS audit without hired ...