Another Casualty of the New Tough IRS Audit Teams

Posted on 24 February 2009 by Diane

We just heard from one of the purchasers of the IRS Survival Guide for Real Estate Professionals with Real Estate Investors, available through www.TaxLoopholes.com. He’d already gone through the tough Real Estate Professional audit with the IRS audit teams for 2005, 2006, and 2007.

He’d had everything denied. He hired an expensive attorney and he proceeded to fight everything. All he’d gotten was a rising legal bill (figure as much as $50,000 in legal fees if you choose to go to Tax Court). The IRS Survival Guide gave him the straight answers no one had ever given him before. He realized that he really had no case.

It wasn’t the answer he wanted (he wanted to win), but he knew he would save tens of thousands in additional legal fees by doing the best deal he could with the IRS now. Sometimes the best advice you can get is knowing when it’s time to stop fighting and settle with the best deal you can get.

Coaching Sessions Are FREE! Bonus to Clients

16 January 2010

If you haven’t yet checked out the coaching schedule at USTaxAid, take a second to do it here: http://www.usataxaid.com/coaching/ We’ve had a record number of people sign up for the coaching classes and are getting rave reviews. Our next session is January 22nd on C Corporation Tricks and Traps. When you sign up, you get copies [...]

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Are You Saving Taxes The Wrong Way?

25 January 2010

Every week I do FREE! tax reviews of past tax returns. In many cases, I find easy solutions that would have saved the taxpayer tens of thousands of dollars in taxes each and every year. In a few cases, I can’t find anything and I’m the first one to say that. I never want to [...]

Creating Multiple Streams of Income

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Instant gratification. For some people, it’s a lifestyle. For business owners, it can be a trap. I see instant gratification in business terms as a deal or a project that makes you money right now. Nothing wrong with that – we’ve all got to keep the lights on and food in the cupboard. And in [...]

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