Tax Return Review – S-Corp and Rental Property

“Bob and Sue” have an S-corp that rents property also owned by the couple with some opportunities to optimize income to take advantage of IRS opportunities. Steven also talks about looking out for indications that a taxpayer is not maximizing their qualified contributions.

 

Recommended Articles

Ask an Advisor: How Can Tax Rates Be Higher in Retirement Than Your Earning Years?

Required minimum distributions (RMDs) are certainly a reason that a person’s tax rate might go up in retirement, but they’re not the only reason. There are a number of possible scenarios in which a person faces higher taxes in retirement when compared to their earning years. (And if you need help with planning for taxes in retirement, consider matching with a financial advisor.)

Read More

Advisor Tax Mistake #7 – Client’s refuse to provide tax documents

This article is the 1st in a series of the 7 most common mistakes financial advisors make on tax planning with clients

Read More

Turn CPAs Into Referral Sources

Jarvis suggested three steps advisors can take to more effectively cultivate CPAs as referral sources.

Read More