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What schedule do you use if a Taxpayer “itemizes”?
A personal financial statement is typically a “balance sheet” based on fair market values, while business financial statements will include a Profit and Loss and a Balance Sheet at book values
A Personal Emergency Account should range from in what dollar amount for most of our business owner clients?
We should have our clients cut-up their credit cards after paying them off.
Over 50 Million Americans don’t even have $1,000 cash in a bank account for emergencies.
Rental Property owned by a taxpayer, with or without a single member LLC, is reported on which Schedule?
Which form does a taxpayer file for a personal extension for their 1040 Tax Return?
A business financial statement by product or service helps a business owner make decisions regarding the expansion or retraction of certain business services or products
Paying off a home mortgage is part of a Debt Snowball Plan
It is acceptable and in fact encouraged that a Main Street Tax Pro ask which of the following questions, in a comprehensive consultation:
On what Schedule are Capital Gains and Losses reported
We should encourage our clients to prepare a personal financial statement/balance sheet at least annually and on a regular basis.
Which type of savings account allows for Tax Free Growth and Tax Free Withdrawals at age 59 ½
Which of the following is an example of Productive debt?
If you are meeting with a client discussing the balances in their savings accounts, which of the following is the best reason to pull money out of a 401k account, even if there are penalties and taxes?
