Let me assure you, it’s not IF a partner, vendor or customer is going to drag you into a law suit…it’s WHEN. I see so many investors and small business owners lose their business and sometimes everything, including their savings, to a deal gone bad and poor documentation.
As we all know, an LLC is critical for asset protection when owning a rental, but if you are doing business in Tennessee it’s critical you understand some additional rules for filing your entity.
I too wish the tax code was simpler, but it’s not. If you are getting notices from the IRS and your spouse didn’t pay his or her fair share and you’re getting stuck with the bill, this could be a solution to your mess.
Here is a list of the TOP 10 things TO do, or NOT do, in order to avoid an audit. As many of you can imagine, an audit can be expensive and time consuming, not to mention, emotionally draining experience.
home owners or real estate investors are encountering numerous questions about the tax consequences of these situations. That’s why it’s more important than ever for real estate owners to understand the basics of how the IRS views tax forgiveness.