Working With Your Tax Advisor, Develop Strategies To Reduce Your Taxes

  1. What is the nature of my interest income? Examples would include money market funds (more like a stream of income) or sign up bonuses that banks offer (one-time).
  2. If the dividends are ordinary dividends, is there an opportunity to switch these to qualified (to pay less tax)?
  3. How much are you making now and is this a significant portion of my income?
  4. Do you expect to make more or less in 5–10 years?
  1. What are my current revenue and expenses?
  2. What deductions am I not taking that I am legally entitled to (i.e. phone, internet, home office, qualified business income deduction, etc.)
  3. How long do you intend to keep this business? Will it grow in the future or shrink?
  4. Are there other planning opportunities to reduce taxes such as opening a Solo 401(k)?
  1. Do you have any mutual funds that have capital gains distributions? If yes, is there another possibility to put money in an asset that has more favorable tax treatment?
  2. Do you plan to sell any securities in the current or future years? (This is to be evaluated annually).
  3. If yes to #2, are they short term or long term gains?
  1. How many properties do you plan to acquire in the next 5–10 years?
  2. Would you like to show more income in the current and/or future years to increase the likelihood of obtaining bank financing?



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GC Realty & Development, LLC.

GC Realty & Development, LLC.

Full-service Real Estate firm specializing in Residential & Commercial acquisitions as well as property management in the Chicagoland area.