Tax Advisor and Tax Preparer sound alike, don’t they? We refer to ourselves as Tax Advisors here at McCarthy Tax. And that’s important for our clients.

Both Tax Advisors and Tax Preparers can generally prepare your 1040, put the numbers in the correct boxes and keep you out of hot water with the IRS. We’ll reach out to you in January, help you gather your tax documents and let you know when to sign.

And for some of you reading this – that is all you need.

If you have a relatively uncomplicated and stable tax situation, a Tax Preparer can help you file a complete and correct return so you don’t need to read through the 2,829 IRS Forms and Publications on the IRS website.

If you’re lucky, your Tax Preparer will be there to answer a question or two throughout the year.

How to Know When You Need a Tax Advisor

Many of our clients are looking for more assistance than putting numbers in boxes. Have you found yourself wondering about any of the topics below?

  • How do RSUs impact my tax bill when I sell them?
  • I’ve heard about this thing called AMT, should I be worried about it if I exercise my ISOs?
  • I recently bought a house, should I be thinking about itemizing deductions?
  • I started a side hustle, what records do I need to keep in case of an audit?
  • How do I prevent having a huge balance due in April?
  • ……or any of the other dozens of tax questions we field each day for your clients.

If you’ve ever had one or more of these questions, you might need a Tax Advisor.

As your tax world gets more complex, there are more opportunities available to you to reduce your tax burden. Want some examples? Glad you asked! 

Here Are Just Some of the Conversations We’ve Had in the Last Two Weeks with Clients

  • We discussed how many ISOs a client could exercise without being hit with AMT.
  • Another family has two workers in tech, one with stock that has gone up in value, the other, not so much. 😆 We discussed how to sell some older stock positions of both companies to lower the capital gain impact.
  • A client is getting married soon and might be able to save thousands of dollars by going to the courthouse before year end.
  • We suggested a Backdoor Roth conversion strategy.
  • Another client had questions about a Mega Backdoor Roth option at their workplace.

And the list could go on and on!

So is McCarthy Tax Right for Me?

We’re obviously biased, but we love helping our clients save money on their taxes!

Taxes are – by far – the largest single budget line item for our clients.

There isn’t a week that goes by where we aren’t advising clients on how to save thousands of dollars in taxes. The comment I get most often is: “Thanks for putting our mind at ease.”

If you would like to have a Tax Advisor in your corner, please reach out and schedule a free introductory call.

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