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IRS Banners. There as well certain stuff you should not do destroy raise warning to IRS and ads about them . get audited. First, do not report an excessive rental income loss, you can apply plenty of expenses a person find lower your pre-tax income. Second, do not over complicate your asset protection structure. Having too many business entities on the surface of each other, or having domicile headquarters in Las Vegas, NV, tax free state become a red rag. Rep