Tax and Legal Educational Articles

Top 10 Ways to Avoid an IRS Audit

Top 10 Ways to Avoid an IRS Audit

Here is a list of the TOP 10 things TO do, or NOT do, in order to avoid an audit with the IRS. As many of you can imagine, an audit can be expensive and time-consuming, not to mention, emotionally draining experience. Please take these to heart.

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How to Use a Board of Directors

How to Use a Board of Directors

Having a Board of Directors or Advisors will be a ‘support team’ in many ways; giving encouragement, advice, and guidance regarding your vision and goals.

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When and How to use the 1031 Exchange

When and How to use the 1031 Exchange

Also, it’s important to remember that a 1031 Exchange requires the taxpayer to purchase more real estate. Some people don’t want to buy more real estate and are ready to move on to another asset class. They have decided that paying the tax is worth it to free up the cash.

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How Short-Term Rentals are Taxed

How Short-Term Rentals are Taxed

More and more real estate investors are adding ‘short-term rental’ properties to their portfolios and with a lot of success. However, many still have questions about where to place them in their tax and legal structure.

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The Magic of the Mega Backdoor Roth

The Magic of the Mega Backdoor Roth

Don’t get me wrong, the Mega Roth is amazing, but I would suggest you don’t even think about it unless you’ve seriously considered the other strategies above AND have an extra 50k+ to set aside for savings without the need for a current tax deduction.

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