Complex Personal Tax

Difficult Tax - Multiple Rentals K1s & States

Expert Tax Preparation of Very Difficult Personal Tax Returns - Multiple Schedule E Rentals + Multiple States + Multiple K1s. Complex Tax Prep for All 50 States in America. HK CPAs in Peoria AZ on 83rd Ave Between Bell Rd & Thunderbird.

What makes a Tax Return difficult to prepare?

Multiple Dividend, Interest & Capital Gain 1099s, Correct Taxation of Collectibles, Non-Qualified Stock Options (NQSO), Puts & Calls, Publicly Traded K1s & MLP Oil & Gas K1s, Schedule E Rentals, S-Corp K1s, Partnership K1s, 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 Complex Tax Prep & expertise handling K1s makes HK CPAs Peoria's Number One Choice for High Net Worth Personal Tax Prep. Contact Us at (480) 596-6499 to prepare your tax return in Peoria, Phoenix, Glendale & the West Valley.

Complex Tax Preparation

Here are some tax issues that make a tax return difficult to prepare.

  • How to deduct a home office used for Business on your Personal Return.

  • When should rentals be For-Profit rentals versus Not-For-Profit rentals. Not for Profit Rentals usually happen when your Son or Daughter goes to college...and you don't want to pay the high cost of Dorm you buy a Condo or other such property...and rent it to your child & his/her roommates. Here's what to watch out for Not For Profit Rental Problems.

Multiple Rentals, K1s & States

High income personal tax returns usually have more than one difficult tax issue, like multiple states, multiple rentals & multiple K1s.

The most tax experience, skill, knowledge & work is required in the first year that a "complex" individual 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 state tax credits, Schedule D capital losses, passive losses, correct capital account basis calculations and basis losses from K1s 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 HK 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.

Step Up to True, One-on-One, Professional  Tax Prep

Multiple States,  Rentals, Self Employment & K1s

Contact Us & sign up for Personal Income Tax Preparation

Peoria CPA Firm HK CPAs

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