Complex Tax - Multiple Rentals, K1s & States
Expert Tax Preparation of Complex Personal Tax Returns - Multiple Schedule E Rentals + Multiple States + Multiple K-1s.
Complex Tax Returns include Multiple Dividend, Interest & Capital Gain 1099s, Non-Qualified Stock Options (NQSO), Puts & Calls, Publicly Traded K-1s & MLP Oil & Gas K-1s, Schedule E Rentals, S-Corp K-1s, Partnership K-1s, Self Employment Schedule Cs, Multiple States, Multiple Rentals, Municipal Bonds & U.S. Treasuries, OID, Cancellation of Debt, Plus Many More Individual Tax Complexities.
The Synergy Between Expert Bookkeeping, Personal Tax Prep & expertise handling K-1s makes Howe & Kolodziej CPAs Scottsdale's Number One Choice for High Net Worth Personal Tax Prep.
Complex Tax Preparation
Here are some tax issues that make a tax return complex.
Multiple Rentals, K1s & States
High income personal tax returns usually have more than one complex tax issue, like multiple states, multiple rentals & multiple K-1s.
The most tax experience, skill, knowledge & work is required in the first year that a individual "complex" return is prepared.
The future correctness of your personal tax return is determined in that first year.
That means the initial setup of your return is absolutely critical.
Does the preparer have the skill & knowledge to correctly pick out all the carry-forward items from the prior year return?
Carry Forward items like states tax credits, Schedule D capital losses, passive losses, correct capital account basis calculations and basis losses from K-1s or passive losses from multiple rentals, AMT credits, Foreign Tax Credits, the correct calculation of the taxability of prior year multiple states tax refunds, & many more.
The most common mistake we see with rentals on self-prepared tax returns is the failure to take mandatory depreciation.
Can the preparer spot mistakes or missed deductions in the prior year return or passive loss carry forward amounts on rentals?
In the case of a mistake or missed deduction, can the preparer give you an honest analysis of the cost/benefit to you of correcting the problem?
Will the preparer tell you that your previous preparer should correct the mistake or missed deduction at no cost to you rather than trying to collect a fee for correcting the problem?
At Howe & Kolodziej, CPAs we are betting that you are seeking a long term relationship with a trusted, experienced, professional CPA advisor who can correctly prepare your personal tax return at a reasonable price.
Most of our clients have been with us for many years & helped to build our firm by graciously referring friends & relatives. We are confident that you too will be satisfied with the quality & correctness of your personal tax return & the service we provide.
We hope that you too will be generous in your referrals to friends & relatives.
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Multiple States, Rentals, Self Employment & K1s
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Scottsdale CPA Firm Howe & Kolodziej CPAs