At Winkler CPA & Consulting, PC our tax advisors work overtime to keep up with the ever-changing tax laws of this country.
Our strategies help you to create a successful plan to reduce your taxes. When you need advice or preparation with your trust return, we will deploy our tax preparation expertise, education and years of experience to advise you. We also provide nationwide consulting services, estate and retirement planning, tax advice and succession planning.
Estate and Trust Planning
Asset transfer can attract significant taxes if not well planned. For owner-managers, this can create possible problems with family owned businesses in a variety of ways.
Winkler CPA & Consulting, PC brings a wealth of experience to the table in the areas of management succession, equity ownership, financial structuring, tax planning and estate, trust and will preparation.
Social security number of any new dependents in the current tax year
Estimated payments — date of payment and amount
Current e-mail address
Bank Routing transit number
Type of account (checking/savings)
IRA contribution (traditional/Roth)
W-2 Wage Statements
1099’s – Interest from banks or self-employment income
Alimony (if recently divorced – divorce settlement papers)
Refunds from state departments of revenue (i.e., Arizona refund)
Capital gain – from mutual funds
Any pension distributions
Social Security benefits
Information on any sale:
Date of purchase
Date of sale
Improvements – if on a piece of rental property
All income is subject to taxes. The above is a list of the most common sources of income.
Nursing home costs
State taxes paid in current tax year for prior years
Real estate taxes
Personal property taxes (in Arizona, that is your car license)
Home mortgage interest
Charitable gifts, both cash and non-cash
Cost of prior year tax preparation and accounting paid current tax year
Employee expenses – travel between jobs, professional dues, education, etc.
Investment expenses, safe deposit box, investment magazines
If you have your own business, any business expenses:
Total miles driven
Business miles driven
Actual expenses: repairs, gasoline, service, license plate tags, etc.
Year and make of car
Commissions and fees
Furniture and Equipment purchases (also need dates purchased)
Rent (paid for business space) – Did you remember to issue a Form 1099 to the landlord?
Legal and professional services
Office expenses: utilities, cleaning service, telephone
Supplies: paper, pens, computer cartridges, etc.
Meals and entertainment
Other expenses (example: long distance telephone calls)
Medical Savings Plan contribution
Rental expenses from homes or other property that you rent to someone else.
Teaching supplies, if you are an educator
The above list is not exhaustive. Generally, deductions are allowed if used to produce income.