Advisor Solutions Spotlight: Success Stories From Our Tax Team

Advisor Solutions Spotlight: Success Stories From Our Tax Team

June 16, 2023

Our team of tax professionals can help you and your clients with tax planning and preparation needs. We offer a range of services, including tax compliance and multi-state strategies, to help minimize your clients’ tax burden, optimize income, manage charitable giving and more.

Below are a few examples of recent success stories from our tax team.

  1. 1. A new client came on board an advisor’s firm with a large liquidity event. By working with the client to understand the timing of income, we were able to remove a few thousand dollars of interest by annualizing the estimated tax payment needs on his tax return.
  2. 2. Another new client contacted an advisor on April 3 and indicated they would bring over $5 million in assets under management if they could get the tax return done by April 18 without an extension. The return needed detailed computations of equity awards and payroll analysis, coupled with the disposition of equity awards exercised through time. Our tax team was able to help meet the request, resulting in a happy client for the advisor.
  3. 3. A new client transitioned their 2022 returns to us. In reviewing their 2021 tax return, we noticed that they had sizable capital gains, but no detail on what securities were sold. When completing their 2022 tax return, we saw that the dispositions for 2022 were employer-held stock from various equity compensation. When we inquired about their 2021 gains, the client confirmed they were due to the sale of employer stock. We are currently reviewing the opportunity to amend their 2021 return and properly adjust basis in those shares to reduce overall gain.

This article is intended for investment professionals and is provided for informational and educational purposes only. No representations or warranties, either express or implied, are made regarding the accuracy or completeness of the information contained herein. Reliance upon information in this material is at the reader’s sole discretion.

The examples provided are for informational and educational purposes only and are not to be construed as an endorsement or testimonial of any past or current clients or advisors, nor any assurance that we may be able to help anyone achieve the same or similar results. Past performance is no guarantee of future results.

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