Tax Preparation

We will work together to prepare Federal and State income tax returns and consult on tax planning opportunities throughout the year.  Integration of your taxes with your financial plan provides opportunities on both sides to add value.  I will ensure the strategies implemented in your plan are accounted for properly as well as accurately take advantage of any tax opportunities which may arise as you progress on your journey to financial independence.

Case Studies

Josh and Pat recently got married and have successfully joined their finances.  Pat is considering renting out or selling her home in Virginia after moving into Josh’s house in Washington, D.C.  After working on their financial plan, it became clear to them that their joint tax return and complexities around state residency and managing their real estate called for outsourcing their tax return.

We worked together to get the couple’s returns filed in the right states, discussed the impact of selling the house now or later and successfully resolved their concerns about getting the benefit of all available tax deductions.  They also got great value out of having a seamless transition between the financial planning topics we discussed and the tax preparation service and ongoing tax planning.

After their children graduated college, Sara and Allan finally had the opportunity to travel and lived abroad for three years.  During this time, they rented their house out.  Recently, they have decided to prepare the house for sale since they’ve become accustomed to apartment living in foreign cities.  One of the big questions they had was the tax implications of the sale.

We reviewed their options to exclude some of the gain by moving back into the property.  In the course of reviewing the returns, we identified some missing deductions, including depreciation on the rental.

We worked together to correct their filings, claim depreciation expense and get them ready for the most tax efficient sale of their home.

These case studies are fictional and are designed to illustrate the service offering and what the engagement would look like.  Recommendations and results are particular to an individual’s circumstances.