Sophisticated Investments

At tax time, does someone you know receive a Schedule K-1 (Form 1065) from an investment they or their financial advisor bought into; maybe in the oil & gas industry? Their tax preparer is familiar with the K-1, but they may or may not know what to do with the attached information. Supplemental information documents look confusing, and they do not contain explicit instructions on what to do with the data, which may lead to some tax preparers ignoring this information. Since the documents typically report tax deductions, the IRS is not going to make a taxpayer claim them. Hypothetically, everyone would be none-the-wiser after losing out on tens-of-thousands of dollars in tax deductions.More

Dealing with Late or Missing Documents

Have you received a notice from the IRS saying you forgot to include a W2 or 1099 you received earlier in the year? Neglect to deduct significant tuition fees for a dependent? Forget to mention your HSA contributions and distributions? Received corrected tax statements from investments? 

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Selling Your Home

Have you considered selling your primary home, but are unsure of the tax implications of the sale? Most homeowners do not take the necessary steps to prepare themselves of the possible tax burden of selling their home.More

Are You Withholding Enough?

Are you withholding enough from your paycheck? We’re nearing the midpoint of the year, and now is the best time to ensure that you are withholding the correct amount of taxes from your wages.More