Michael Plaks
Amended tax returns come with IRS audit risk
"Filing a large claim for a refund on an amended return will almost always cause an audit," according to a former IRS attorney. https://www.taxprotoday.com/news/raise-your-hand-if-you-want-your-taxes-auditedThis is so...
Jesse Hopcus
Audited for Subject 2 or creative financing deals?
Hello, I recently had a friend that got audited for writing off the depreciation on his subject 2 deals. Is this to be expected, kind of don't ever want to get audited? Has anyone else come across this situation, po...
Patrick Tsui
Finding an Auditor to Audit My Property Manager
I'm an out of state investor with a few properties in both Rochester and Buffalo. I'm concerned about maintenance and repairs costs that I've been paying and wanted to see if there was a 3rd party audit service avail...
Mike Miller
Have you ever been audited by the IRS?
Have you?Any backstory or juicy detail is bonus points.. 🏆
Thomas C.
Active Participation - Anyone have audit experience with this?
I've seen people in the BP forums with differing opinions on the topic (shocker!). Some say as soon as you get a Property Manager you are passive no matter what. Others quote the readily available Internet information...
Julio Gonzalez
Tips on How to Avoid an IRS Audit
When most of us think of having the IRS audit us, we get anxious. Audits can be very expensive, invasive and ultimately time consuming. Some audits are inevitable. However, there are multiple preventative measures tha...
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...
Kyler J Sloan
How to Claim Passive Losses without getting Audited
I have poured my cash into STR construction projects, and so actually have a loss which nearly equals my income.Using the "STR Loophole", this should enable me to deduct these expenses from my W2 income. However, this...
Account Closed
Plumber needed in middlesex Ma, for leak audit
Hi I am looking for a plumber or contractor who has experience performing a leak/water usage audit on rental properties. I have a 16 unit building in mass close to Framingham. Please get in touch if you know anyone! ...
Wiley Hood
Are DIY cost segregations a good idea?
Recently, I've decided to do a cost segregation study on a new $490K property that I purchased this year. I came across a firm (KBKG) that offers a $400 DIY cost study (paying for a membership). I enter the informat...