Your Customized Path to Retaining Every Dollar and Saving Millions

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First Year Client

As part of our commitment to providing exceptional service, we implement a one-time administration fee for first-year clients. This fee covers the essential administrative tasks and resources necessary to ensure a smooth onboarding process and seamless service delivery.

What the Administration Fee Includes:

1. Client Onboarding: Setup of your client profile in our system for efficient communication and service management.

2. Document Management: Secure storage and organization of your sensitive financial documents. Assistance with document preparation and collection to streamline the tax preparation process. We will obtain prior tax filings, operating agreements and other needed information to serve you.

States, City, Local Income/Franchise Returns

We offer a straightforward flat fee for the preparation and filing of state, city, local income tax, and franchise tax returns. This fee provides clarity and ensures you know exactly what to expect without any hidden costs.

What the Service Fee Covers:

1. State Income Tax Return Preparation: 
   Comprehensive review of your income and deductions as they pertain to state tax laws. Accurate completion and filing of your state income tax return can be complicated as each state has differing tax laws.

2. City and Local Income Tax Return Preparation:‍
   Preparation of any required city and local income tax returns based on your residency and income sources. Compliance with local tax regulations to minimize potential liabilities.

3. Franchise Tax Return Preparation:‍
   Assistance with franchise tax filings, including understanding applicable rates and requirements. Preparation and submission of your franchise tax return to ensure compliance. For TX Franchise filers we will run all scenarios to ensure you are paying the lowest amount of Franchise tax possible.

4. Dedicated Support:‍
   Access to our team for any questions or clarifications regarding your returns. Ongoing support throughout the tax season to address any concerns.

Schedule K-1

We provide expert assistance with the input of Schedule K-1 forms into your individual Form 1040 tax return. This service ensures that any income, deductions, and credits reported on your K-1 are accurately reflected in your overall tax filing. The fee is calculated on a per instance basis. If you are issued multiple K-1s then the fee will be assessed on a per K-1 instance basis.

What Our K-1 Input Service Includes:

• Detailed Review of K-1 Forms: Careful examination of your K-1(s) from partnerships, S-corporations, or estates to identify all relevant income and deductions.

• Accurate Input into Form 1040: Professional entry of K-1 data into your 1040 return, ensuring compliance with IRS regulations and proper reporting of income. Integration of any associated schedules as required, such as Schedule E for supplemental income.‍
• Impact Assessment: Analysis of how K-1 income affects your overall tax situation, including any implications for passive activity rules or state tax considerations.‍
• Consultation and Support: Access to our team for any questions regarding your K-1 forms or how they influence your tax return. Guidance on potential tax strategies related to K-1 income. We can recommend changes to structure as well if a K-1 is not optimally reported to your situation.‍
• Timely and Accurate Filing: Assurance that your tax return, including K-1 input, is filed accurately and on time, minimizing the risk of penalties.

This service provides you with confidence that your K-1 information is handled professionally, ensuring your 1040 return is complete and accurate. 

Publicly Traded Partnership K-1

We offer a specialized flat fee service for the preparation of tax returns involving publicly traded partnerships (PTPs). This service is designed to ensure accurate reporting and compliance with IRS requirements, providing you with peace of mind throughout the tax filing process.

What Our PTP Service Includes:

1. Comprehensive Review of PTP Documentation:
   • Thorough examination of your K-1 forms and any other relevant documentation from the publicly traded partnerships you are involved with.
2. Accurate Tax Return Preparation:
   • Professional input of PTP income, deductions, and credits into your individual tax return (Form 1040), ensuring compliance with applicable tax laws.
   • Preparation of any necessary supporting schedules and forms related to your PTP investments.
3. Tax Impact Analysis:
   • Assessment of how PTP income affects your overall tax situation, including considerations for passive activity rules and potential state tax implications.
4. Personalized Consultation:
   • Access to our team for questions regarding your PTP investments and their impact on your tax return.
   • Strategic advice on optimizing your tax position related to PTP income.
5. Timely and Accurate Filing:
   • Assurance that your tax return is completed and filed on time, minimizing the risk of penalties and ensuring compliance.
     

This flat fee provides clarity and certainty in budgeting for your tax preparation needs related to publicly traded partnerships. PTP K-1s require additional calculations in order to match the relevant sales information from 1099s and accurately calculate the sales on a tax return. All of the K-1 service inputs are available for each PTP K-1 and fees calculated on a per K-1 basis.

Oil and Gas K-1

We offer a specialized flat fee service for the preparation and processing of K-1 forms associated with working interest in oil and gas investments. Working interests can be complex due to various factors such as Intangible Drilling Costs (IDC), Depletion on a well-by-well basis, operational expenses, state tax issues and other unique tax implications, making accurate reporting essential.

What Our Oil and Gas K-1 Service Includes:

1. In-Depth K-1 Review:
   • Thorough examination of your oil and gas K-1 forms to identify all relevant income, deductions, and credits. This includes understanding how your share of production revenue, operating expenses, and other factors impact your tax situation.
2. Complex Tax Return Preparation:
   • Accurate input of K-1 information into your individual tax return (Form 1040), ensuring compliance with IRS regulations and proper reporting of oil and gas income.
   • Preparation of necessary supporting schedules, such as Schedule E, to address the specifics of your working interest.
3. Tax Implications Analysis:
   • Assessment of how working interest income influences your overall tax situation, including complexities like:
     • Depletion Allowances: Calculating the allowable deductions based on the production and costs associated with your interest.
     • Intangible Drilling Costs: Properly reporting the IDC losses as a GP.
     • Partnership Income Reporting: Understanding the impact of passive activity rules, which may limit the ability to offset other income.
     • State and Local Tax Considerations: Navigating potential additional tax obligations based on where the oil and gas operations are located.
4. Expert Consultation and Support:
   • Access to our knowledgeable team for any questions regarding your K-1 forms and their implications on your tax return.
   • Tailored advice on maximizing deductions and credits specific to oil and gas investments.

This flat fee service provides clarity and peace of mind as you navigate the complexities of working interest in oil and gas. If you have any questions or need further assistance, please feel free to reach out!

Oil and Gas K-1

We offer a specialized flat fee service for the preparation and processing of K-1 forms associated with working interest in oil and gas investments. Working interests can be complex due to various factors such as Intangible Drilling Costs (IDC), Depletion on a well-by-well basis, operational expenses, state tax issues and other unique tax implications, making accurate reporting essential.

What Our Oil and Gas K-1 Service Includes:

1. In-Depth K-1 Review:
   • Thorough examination of your oil and gas K-1 forms to identify all relevant income, deductions, and credits. This includes understanding how your share of production revenue, operating expenses, and other factors impact your tax situation.
2. Complex Tax Return Preparation:
   • Accurate input of K-1 information into your individual tax return (Form 1040), ensuring compliance with IRS regulations and proper reporting of oil and gas income.
   • Preparation of necessary supporting schedules, such as Schedule E, to address the specifics of your working interest.
3. Tax Implications Analysis:
   • Assessment of how working interest income influences your overall tax situation, including complexities like:
     • Depletion Allowances: Calculating the allowable deductions based on the production and costs associated with your interest.
     • Intangible Drilling Costs: Properly reporting the IDC losses as a GP.
     • Partnership Income Reporting: Understanding the impact of passive activity rules, which may limit the ability to offset other income.
     • State and Local Tax Considerations: Navigating potential additional tax obligations based on where the oil and gas operations are located.
4. Expert Consultation and Support:
   • Access to our knowledgeable team for any questions regarding your K-1 forms and their implications on your tax return.
   • Tailored advice on maximizing deductions and credits specific to oil and gas investments.

This flat fee service provides clarity and peace of mind as you navigate the complexities of working interest in oil and gas. If you have any questions or need further assistance, please feel free to reach out!

Cryptocurrency Sales

We offer a straightforward flat fee service for the reporting of each cryptocurrency sale on your tax return. As cryptocurrency transactions can be complex and subject to specific IRS regulations, our goal is to ensure accurate reporting and compliance.

What Our Cryptocurrency Service Includes:

1. Detailed Transaction Review:
   • Comprehensive analysis of each cryptocurrency sale, including purchase price, sale price, and the duration of holding periods to determine capital gains or losses.
2. Accurate Tax Return Preparation:
   • Professional input of cryptocurrency sale information into your individual tax return (Form 1040), ensuring all transactions are reported correctly.
   • Preparation of necessary supporting forms, such as Form 8949 for reporting capital gains and losses.
3. Tax Implications Assessment:
   • Evaluation of the tax implications of your cryptocurrency sales, including long-term vs. short-term capital gains rates and any applicable deductions.
   • Guidance on potential tax-loss harvesting strategies to offset gains.
4. Consultation and Support:
   • Access to our team for any questions regarding your cryptocurrency transactions and their impact on your tax return.
   • Customized advice on managing your cryptocurrency portfolio from a tax perspective.

This flat fee structure offers clarity and simplicity as you navigate the complexities of cryptocurrency taxation. If you have any cryptocurrency transactions this fee will be added to your invoice. 

Number of Rental Properties or Businesses Reported (Sch C, E, F)

We offer a flat fee service for the preparation of each Schedule C (Profit or Loss from Business), Schedule E (Supplemental Income and Loss), and Schedule F (Profit or Loss from Farming) as part of your tax return. This service is designed to ensure accurate reporting and compliance with IRS regulations for your business or income-generating activities.

What Our Self Employed Business Service Includes:

1. Comprehensive Review of Financial Information:
   • Detailed analysis of your income and expenses related to your business (Schedule C), rental properties or investments (Schedule E), or farming activities (Schedule F).
   • Identification of all deductible expenses to minimize your taxable income.
2. Accurate Tax Return Preparation:
   • Professional completion of each relevant schedule, ensuring all income and expenses are reported accurately.
   • Integration of these schedules into your individual tax return (Form 1040) for seamless filing.
3. Tax Implications Analysis:
   • Assessment of the tax implications associated with your business or income-generating activities, including self-employment tax for Schedule C filers and passive activity rules for Schedule E.
   • Guidance on potential credits and deductions available to you.
4. Consultation and Support:
   • Access to our knowledgeable team for any questions regarding your schedules and their impact on your tax return.
   • Customized advice on strategies to optimize your tax position related to your business or rental properties.

This flat fee service provides clarity and peace of mind as you manage your business or investment activities. If there are any accounting issues recognized during the preparation process, we will provide a solution and estimate of fees needed to create.  

Implementation of Cost Segregation on Return

We offer a comprehensive flat fee service for conducting and implementing cost segregation studies as part of your tax return preparation. Cost segregation is a sophisticated tax strategy that allows property owners to accelerate depreciation deductions by identifying and segregating personal property components from real property. This process can lead to significant tax savings and improved cash flow, but it involves intricate analysis and compliance with IRS guidelines.

What Our Cost Segregation Implementation Service Includes:

• Detailed Cost Segregation Analysis:
  • Cost Segregation Assessment: Conduct a thorough examination of your cost segregation report. This will include the best depreciable outcome using shorter depreciation lives (5, 7, or 15 years) versus the standard 27.5 or 39 years for real property, taking bonus depreciation where applicable.
• Material Participation Mandates:
  • ‍If you are taking a material participation stance to deduct the cost segregation we will ensure you qualify and are defensible. 
• Accurate Integration into Tax Returns:
  • Tax Return Preparation: Professionally input the results of the cost segregation study into your individual or business tax return (Form 1040 or 1065/1120), ensuring all accelerated depreciation deductions are accurately claimed.
  • Supporting Schedules: Prepare and file any necessary supporting documentation, such as Form 4562 for depreciation, ensuring full compliance and accuracy.
• Strategy Consultation:
  • Long-term Tax Planning: Provide strategic advice on the implications of accelerated depreciation, including recapture risks when the property is sold and potential future tax planning considerations.
• Ongoing Support and Communication:
  • Dedicated Consultation: Offer continued access to our team for any questions or clarifications regarding the cost segregation study and its long-term impact on your tax situation.
  • Updates on Regulatory Changes: Keep you informed about any changes in tax laws or regulations that may affect your cost segregation strategy in the future.
• Timely and Accurate Filing:
  • Assurance of Compliance: Guarantee that your tax return, including the cost segregation study implementation, is filed accurately and on time, significantly reducing the risk of penalties or audit issues.

This flat fee service provides clarity, confidence, and expert guidance as you navigate the complexities of cost segregation. By leveraging this strategic approach, you can optimize your tax benefits and enhance your financial position. 

Change in Accounting Method

We provide expert assistance for businesses looking to change their accounting method. Accounting method changes are very common in real estate when you are changing depreciable methods utilizing a cost segregation study.  A change in accounting method can significantly impact your financial reporting and tax liability, making it essential to navigate this process carefully and in compliance with IRS regulations.

What Our Change in accounting Method Change Service Includes:

1. Assessment of Current Accounting Method:
   • Comprehensive Review: Analyze your existing accounting method (cash vs. accrual) and assess its suitability for your business needs and financial reporting objectives.
   • Impact Analysis: Evaluate the potential benefits and drawbacks of switching methods, including how it may affect your taxable income, cash flow, and financial statements.
2. Preparation of Form 3115:
   • IRS Compliance: Prepare and file Form 3115 (Application for Change in Accounting Method) with the IRS, which is required to formally document the change.
   • Method Selection: Assist in selecting the new accounting method that aligns with your business operations and financial goals, whether it’s switching from cash to accrual or making other adjustments.
3. Calculation of Adjustments:
   • Section 481(a) Adjustment: Calculate any necessary adjustments required by IRS regulations to account for the change, which may include adjustments to income or expenses that need to be reported in the year of change.
   • Impact on Prior Year Filings: Evaluate how the change will affect prior tax returns and financial statements, ensuring compliance with accounting standards.
4. Documentation and Support:
   • Maintain Proper Records: Provide guidance on the documentation required to support the change in accounting method, ensuring you have a comprehensive record for IRS audits.
   • Ongoing Communication: Keep you informed throughout the process and provide clarification on any questions or concerns regarding the change.
5. Tax Implications and Strategy Consultation:
   • Long-term Planning: Discuss the long-term tax implications of the new accounting method, including how it may affect future tax liabilities and business decisions.
   • Advisory Services: Offer strategic advice on managing the transition effectively and optimizing your accounting practices for better financial management.

This flat fee service provides clarity and support as you navigate the complexities of changing your accounting method. By making informed decisions, you can better align your financial reporting with your business strategy. 

Sale of Business Real Estate (STR/LTR)

We offer a specialized flat fee service for the preparation of tax returns associated with the sale of your rental property, whether it is utilized for short-term rentals (STR) or long-term rentals (LTR). Selling a rental property involves specific tax considerations, and our goal is to ensure that you maximize your tax benefits while remaining compliant with IRS regulations.

What Our Sale of Real Estate Service Fee Includes:

1. Comprehensive Review of Sale Details:
   • Transaction Analysis: Gather and analyze details of the sale, including the selling price, date of sale, and any associated selling costs.
   • Historical Data Review: Evaluate the rental income and expenses for the property, along with any capital improvements made during your ownership.
2. Tax Implications Assessment:
   • Capital Gains Calculation: Calculate the capital gains or losses from the sale by determining the adjusted basis of the property, including purchase price, closing costs, and depreciation recapture.
   • Depreciation Recapture Analysis: Assess the impact of depreciation recapture on your tax liability, ensuring you understand how prior depreciation deductions will affect your overall tax situation.
3. Preparation of Required Tax Forms:
   • Form 8949 and Schedule D: Accurately prepare Form 8949 to report the sale of the property and Schedule D to summarize your capital gains and losses.
   • Additional Schedules: Include any necessary additional forms or schedules related to rental income or expenses, ensuring complete and accurate reporting.
4. Consultation on Tax Strategies:
   • 1031 Exchange Options: Discuss the potential benefits of a 1031 exchange for future sales. 
   • Tax Planning Advice: Provide guidance on tax planning strategies post-sale to help optimize your financial position moving forward.
5. Timely Filing Assurance:
   • Commitment to Compliance: Ensure that your tax return is prepared accurately and filed on time, minimizing the risk of penalties or audits from the IRS.

This flat fee service offers clarity and expert support as you navigate the complexities of reporting the sale of your rental property on your tax return. By working with us, you can confidently manage your tax obligations and maximize your returns. Each property sold incurs this service fee. 

Alternative Minimum Tax (when applicable)

We offer a dedicated flat fee service for the calculation and reporting of Alternative Minimum Tax (AMT) on your tax return. The AMT is a separate tax calculation designed to ensure that individuals with higher incomes pay a minimum level of tax, regardless of deductions and credits that may reduce their regular tax liability. Navigating AMT can be complex, and our goal is to provide clarity and accuracy in the reporting process.

What Our AMT Service Fee Includes:

1. Comprehensive AMT Assessment:
   • Income Review: Analyze your total income to determine if you are subject to AMT, including wages, self-employment income, interest, dividends, and capital gains.
   • Deduction Analysis: Evaluate itemized deductions that may trigger AMT, such as state and local tax deductions, and personal exemptions.
2. Calculation of AMT Liability:
   • Form 6251 Preparation: Accurately prepare IRS Form 6251, which is used to calculate your AMT. This includes adjustments for preference items and the calculation of the AMT exemption amount.
   • Computation of AMT Adjustments: Identify and calculate necessary adjustments, such as depreciation adjustments, tax-exempt interest, and other AMT preference items.
3. Tax Implications Consultation:
   • Impact Analysis: Discuss how the AMT affects your overall tax liability, including potential strategies to minimize AMT exposure in future tax years.
   • Tax Planning Strategies: Provide insights on tax strategies that may help reduce your AMT liability, such as timing income and deductions or utilizing tax credits.
4. Filing Compliance Assurance:
   • Timely and Accurate Filing: Ensure that all relevant forms, including Form 6251, are accurately completed and filed on time, reducing the risk of penalties or audits.
   • Documentation Support: Offer guidance on maintaining proper documentation to support your AMT calculations in the event of an IRS inquiry.
5. Ongoing Support and Communication:
   • Access to Expertise: Remain available for any questions or clarifications regarding AMT calculations or implications throughout the tax preparation process.
   • Updates on Tax Law Changes: Keep you informed about any changes in tax laws that may impact AMT calculations in the future.

This flat fee service provides clarity and expert support as you navigate the complexities of Alternative Minimum Tax. If there is any AMT calculation this fee will be added on. 

Installment Sale Income (1^st Year)

We offer a specialized flat fee service for the reporting of installment sales on your tax return during the first year of the sale. An installment sale allows you to spread the recognition of income over multiple years as you receive payments, which can have significant tax implications. Our aim is to ensure accurate reporting and compliance while optimizing your tax benefits.

What Our Installment Sale Services Includes:

1. Initial Sale Documentation Review:
   • Sales Agreement Analysis: Review the terms of the installment sale agreement to understand payment schedules, interest rates, and the total sale price.
   • Asset Basis Calculation: Determine the adjusted basis of the asset sold to accurately calculate the gain on the sale.
2. Income Recognition Calculation:
   • Installment Method Application: Apply the installment method to recognize income based on the payments received during the year. This involves calculating the gross profit percentage to determine how much gain to report for the year.
   • Interest Income Assessment: Identify any interest component included in the installment payments that must be reported as taxable income.
3. Preparation of Required Tax Forms:
   • Form 6252 Completion: Accurately prepare IRS Form 6252 (Installment Sale Income) to report the income from the installment sale. This form details the sale, payments received, and the gain recognized for the year.
   • Integration into Tax Return: Ensure that the installment sale information is properly integrated into your individual tax return (Form 1040), including any necessary supporting schedules.
4. Tax Implications Analysis:
   • Long-term Impact Assessment: Discuss the long-term tax implications of using the installment method, including how it affects your overall tax liability in subsequent years.
   • Tax Planning Strategies: Provide advice on managing future payments, potential reinvestment options, and strategies to optimize your tax position as payments are received.

This flat fee service provides clarity and expert support as you navigate the complexities of reporting an installment sale in its first year. There is a lot of work to properly report an installment sale in the first year. We can properly calculate and report your installment sale.

Like Kind Exchange

We offer a specialized flat fee service for the reporting of like-kind exchanges on your tax return. A like-kind exchange, as defined under IRS Section 1031, allows you to defer capital gains taxes on the sale of a property when you reinvest the proceeds into a similar property. This complex process requires careful planning and accurate reporting to ensure compliance and optimize tax benefits.

What Our Like-Kind Exchange Service Includes:

1. Exchange Agreement Review:
   • Documentation Support: Assist in reviewing the exchange agreement and any related documents, ensuring they meet IRS requirements for a valid like-kind exchange.
   • Timeline and Identification Compliance: Ensure that all necessary timelines and identification requirements are met, including the 45-day identification period and the 180-day closing period.
2. Calculation of Gain Deferral:
   • Gain and Basis Analysis: Analyze the gain from the relinquished property and the adjusted basis of both the relinquished and replacement properties to determine any deferred gain.
   • Boot Calculation: Identify any "boot" received in the exchange (cash or non-like-kind property), which may trigger a taxable event, and assess its impact on your overall tax liability.
3. Preparation of Required Tax Forms:
   • Form 8824 Completion: Accurately prepare IRS Form 8824 (Like-Kind Exchanges) to report the details of the exchange, including properties involved, fair market values, and deferred gains.
   • Integration into Tax Return: Ensure that the like-kind exchange information is correctly integrated into your individual tax return (Form 1040), along with any necessary supporting schedules.
4. Post-Exchange Tax Planning:
   • Long-Term Tax Strategy: Discuss the long-term tax implications of the exchange, including how it impacts future property sales and capital gains tax liability.
   • Future Exchange Opportunities: Provide guidance on potential future like-kind exchanges to continue deferring taxes as your real estate portfolio grows.
5. Ongoing Support and Communication:
   • Access to Expertise: Offer continued access to our team for any questions regarding the like-kind exchange, reporting requirements, or potential future exchanges.
   • Updates on Regulatory Changes: Keep you informed about any changes in tax laws or IRS regulations that may affect like-kind exchange reporting in the future.
6. Timely and Accurate Filing:
   • Commitment to Compliance: Ensure that all forms and documentation related to the like-kind exchange are prepared accurately and filed on time, minimizing the risk of penalties or audits.

This flat fee service provides clarity and expert support as you navigate the complexities of like-kind exchanges. By partnering with us, you can confidently manage your tax obligations while maximizing your investment opportunities. Each like-kind exchange performed in the year incurs this add on fee.

Foreign Reporting Forms (Form 926, 2555, 8621, 8865, 8938, not 1116)

We provide a specialized flat fee service for the preparation and reporting of various foreign reporting forms required for your Form 1040 tax return. If you have foreign income, foreign bank accounts, foreign assets, or foreign transactions, these forms are essential to ensure compliance with U.S. tax regulations. Our goal is to help you navigate these complexities accurately and efficiently.

1. Foreign Bank Account Report (FBAR) - FinCEN Form 114

• Description: Required for U.S. citizens, residents, and entities with foreign financial accounts that exceed $10,000 in aggregate at any time during the calendar year.
• Services Included:
  • Review all foreign accounts and assess reporting thresholds.
  • Prepare and file FinCEN Form 114 electronically, ensuring compliance with the Bank Secrecy Act.

2. Form 8938 - Statement of Specified Foreign Financial Assets

• Description: Required for individuals with specified foreign financial assets exceeding certain thresholds ($50,000 for single filers, $100,000 for married filing jointly, at year-end).
• Services Included:
  • Assess and document all specified foreign assets, including bank accounts, stocks, and bonds.
  • Prepare and attach Form 8938 to your Form 1040, detailing foreign assets.

3. Form 8865 - Return of U.S. Persons With Respect to Certain Foreign Partnerships

• Description: Required for U.S. persons who control a foreign partnership or own a significant share (typically 10% or more).
• Services Included:
  • Review partnership agreements and financial statements.
  • Prepare Form 8865, detailing your share of partnership income, deductions, and credits.

4. Form 8621 - Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund

• Description: Required for U.S. shareholders of Passive Foreign Investment Companies (PFICs).
• Services Included:
  • Collect data on PFIC investments and related transactions.
  • Prepare Form 8621 to report the income from PFICs and any elections made.

This flat fee service provides clarity and expert support as you navigate the complexities of foreign reporting on your Form 1040. By working with us, you can ensure compliance while maximizing your peace of mind. Due to the heavy compliance and potential penalties and risks, each foreign filing form we file produces an additional fee. Form 1116 (Foreign tax credit) does not cost extra. 

Short Term Rental Group Consolidation

We offer a specialized flat fee service for consolidating your short-term rental (STR) groups on Schedule C of your tax return. This process involves grouping multiple rental properties into a single reporting entity, streamlining your tax filing while ensuring compliance with IRS regulations. This strategy is used in very unique situations when a client has multiple STR properties and wants to claim material participation on the group.

What Our Service Includes:

1. Review of Rental Properties:
   • Property Assessment: Analyze all short-term rental properties you own, including their income, expenses, and management structures.
   • Eligibility Determination: Determine which properties qualify for grouping based on IRS guidelines for short-term rentals.
2. Consolidation Strategy:
   • Group Formation: Establish appropriate groups for your STRs, considering factors like geographic location, rental management practices, and ownership structures.
   • Income and Expense Aggregation: Aggregate income and expenses for each group to simplify reporting on Schedule C.
3. Preparation of Schedule C:
   • Accurate Reporting: Prepare Schedule C (Profit or Loss from Business) to reflect the consolidated income and expenses of your STR groups.
   • Detailed Breakdown: Provide a clear breakdown of income sources, such as rental income, cleaning fees, and other ancillary services, along with deductible expenses like repairs, utilities, and management fees.
4. Tax Implications Analysis:
   • Impact Assessment: Discuss the tax implications of consolidating STRs, including potential benefits such as simplified reporting and increased deductions.
   • Loss Utilization Strategy: Evaluate how losses from one property can offset income from another within the consolidated group, maximizing your overall tax benefits.
5. Compliance Assurance:
   • IRS Guidelines Adherence: Ensure all consolidation practices adhere to IRS regulations and guidelines to minimize the risk of audits or penalties.
   • Documentation Support: Provide guidance on maintaining proper documentation for each property to support your consolidated reporting.

This flat fee service simplifies the process of consolidating your short-term rental groups on Schedule C, allowing you to focus on managing your properties while ensuring compliance and maximizing your tax benefits. 

Tax Return Presentation Meeting

Enhance your tax preparation experience with our exclusive Tax Presentation Meeting, offered at the conclusion of your tax engagement for just $500. This service is designed to provide you with a thorough, line-by-line review of your tax return, ensuring you fully understand every aspect of your filing. Often times when we present the tax return in this more detailed manner additional tax planning or positions can be taken on the tax return before it is filed producing more favorable tax outcomes.

What to Expect:

1. In-Depth Review:
   Our experienced tax professionals will walk you through your tax return, explaining each line item in detail. You’ll gain clarity on your income sources, deductions, credits, and any additional taxes, empowering you to make informed decisions about your financial future.
2. Tailored Insights:
   This personalized session allows for an in-depth discussion of your unique tax situation. Our team will highlight key opportunities for tax savings, potential areas for improvement, and strategies to optimize your tax position for the upcoming year.
3. Interactive Q&A Session:
   Engage in an open dialogue with our tax experts. You’ll have the opportunity to ask specific questions, clarify any concerns, and explore tax strategies tailored to your financial goals.
4. Value-Added Benefits:
   This service is not just about reviewing your return; it’s about building your financial literacy and confidence. By understanding your tax return in detail, you’ll be better prepared for future tax years and informed about potential deductions and credits that may apply.

Why Choose This Add-On?‍

Investing in the Tax Presentation Meeting is an excellent way to maximize the value of your tax preparation services. It transforms a traditional tax filing into a proactive financial planning session, providing you with the insights needed to make informed decisions and optimize your tax strategy.

Take advantage of this opportunity to deepen your understanding of your tax situation and set yourself up for success in the coming years.