1,310,972
Seems fishy. If he is audited, can he show that he is paying these "people" for goods or services? Is he providing a 1099 form to those to whom he is writing checks?
If you run this one by your tax professional, I think you may see raised eyebrows.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Lyn Sims
Schaumburg, IL
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Kris Collis, Associate...
East Stroudsburg, PA
-
Steve Higgins
Kelowna, BC
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Richie Alan Naggar
Riverside, CA
-
Diana Dahlberg
Pleasant Prairie, WI
-
Nina Hollander, Broker
Charlotte, NC
-
Karen Climer
Orlando, FL
679,404
This will be one very fun audit ... good luck.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Steve Higgins
Kelowna, BC
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Richie Alan Naggar
Riverside, CA
711,752
That sounds like he may be doing something the IRS would like to see to justify the business expense.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Lyn Sims
Schaumburg, IL
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Richie Alan Naggar
Riverside, CA
195,422
It sounds a little fishy to me. I'm not a CPA, so maybe there is some loophole that I don't know about. But it doesn't sound like something I want to try.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Richie Alan Naggar
Riverside, CA
-
Diana Dahlberg
Pleasant Prairie, WI
-
Nina Hollander, Broker
Charlotte, NC
-
Karen Climer
Orlando, FL
5,104,806
Personally, I'd like to see him explain this to the IRS when he gets audited!
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Carla Freund
Raleigh, NC
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Steve Higgins
Kelowna, BC
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Richie Alan Naggar
Riverside, CA
-
Diana Dahlberg
Pleasant Prairie, WI
-
Karen Climer
Orlando, FL
-
John Juarez
Fremont, CA
3,125,265
Danger, Will Rogers! Danger, there is an imminent audit in his near future!
-
Steve Higgins
Kelowna, BC
-
Mike McCann Nebraska L...
Kearney, NE
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
Lyn Sims
Schaumburg, IL
-
Candice A. Donofrio
Fort Mohave, AZ
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
3,344,906
Sounds like a slippery slope, Richie.
I have not had or heard of that experience. If I know people that do it, they have not shared it with me. Nor has anyone given me a check that was supposed to be for work I did not do.
I wonder what the guy's CPA has to say about that practice? If the CPA even knows.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Steve Higgins
Kelowna, BC
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Kathleen Daniels, Prob...
San Jose, CA
2,061,096
So you're asking... have we heard of people who "cheat on their taxes"?
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Steve Higgins
Kelowna, BC
-
Ron and Alexandra Seigel
Carpinteria, CA
1,052,056
Good luck with the audit!
CPA stat!
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
Lyn Sims
Schaumburg, IL
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
6,392,889
The govt may not agree with his methodology.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
805,799
Alan May hit the nail on the head. A question to your question, are the people he is paying claiming the money that he has paid them as income? What he is doing probably is not legal, unless everyone he is paying is claiming it as income and paying taxes on it. Doesn't seem right to me.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
5,772,575
Richie,
No, and I would not want to know this guy. A
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Steve Higgins
Kelowna, BC
1,844,171
He will have a new location in a penitentiary.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Lyn Sims
Schaumburg, IL
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
3,587,835
Not a wise move on this guys part. We follow our CPA's lead and are good with her advice year after year.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Steve Higgins
Kelowna, BC
-
Richie Alan Naggar
Riverside, CA
-
John Juarez
Fremont, CA
1,422,016
No, I have not heard of this but am willing to be "test case" on the receiving end. Jeff 😎
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
John Juarez
Fremont, CA
5,048,718
He'd better hope he doesn't get audited. Wonder how he would justify those business expenses?
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
John Juarez
Fremont, CA
634,431
If you're looking for a beneficiary to reap the benefits of your disbursements, I will graciously volunteer...because I care!
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
John Juarez
Fremont, CA
643,875
I have not heard of that and will try to forget I heard that here.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
-
John Juarez
Fremont, CA
5,229,254
I walk on by, Richie, knowing that a good, old-fashioned, IRS audit will take care of those people!
-
Steve Higgins
Kelowna, BC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Richie Alan Naggar
Riverside, CA
-
Lyn Sims
Schaumburg, IL
901,187
Good luck to him. I wouldn't try this without talking to a professional first. If he isn't careful, he'll be writing check to someone to keep him out of jail.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Steve Higgins
Kelowna, BC
-
Richie Alan Naggar
Riverside, CA
938,407
Richie,
He would be better served by giving the money to worthy organizations like St. Jude Children's Research Hospital or Shriner's Hospitals for Children and receive a legitimate tax deduction and help children and their families.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
5,215,573
Many get creative to avoid taxes. Many get caught and pay the price. Seek professional advice.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Carla Freund
Raleigh, NC
-
Richie Alan Naggar
Riverside, CA
900,008
No, I have not Richie, but it doesn't surprise me one bit...
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Debe Maxwell, CRS
Charlotte, NC
-
Richie Alan Naggar
Riverside, CA
873,126
My guess is he has figured out a system that works for him. I am not aware of many folks who love to pay taxes. I also am not aware of anyone who loves to be audited. I would rather pay the taxes and move on...and sell another property.
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Wanda Kubat-Nerdin - W...
St. George, UT