Audit-Proof Bookkeeping For Landlords: 7 Red Flags The IRS Spots Fast

Summary

This video provides a detailed breakdown of the seven most common bookkeeping red flags that attract IRS audits for real estate investors, including STR hosts. It covers crucial topics like co-mingling funds, misclassifying repairs vs. improvements, and mishandling passive losses. The speaker, an attorney, offers specific, actionable steps to clean up your books, maintain compliance, and protect your assets from both the IRS and potential lawsuits.