High-Income / High Net Worth

With my prior experience preparing and auditing the tax returns of high-income individuals and families, I make sure to address the specific challenges & obstacles they face including:

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Properly classifying passive & nonpassive activities by inquiring about material participation when the client is involved in many different businesses & investments.

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Consulting, educating, and advising the client on entity structure (e.g. LLC vs S-Corporation) and which retirement plan is most appropriate for a client’s given tax situation & retirement goals (e.g. SEP IRA vs Solo 401(k)).

I also make sure to address considerations regarding Qualified Business Income (QBI) limits & phase-outs.

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Consulting and advising on Pass-Through Entity (PTE) tax credits and composite returns, especially when clients have sources of income & investments from multiple states.