Tax Strategies

a. Individual

We work with individual clients with diversified backgrounds including Physicians, Engineers, Professors, Ministers, Mortgage Brokers, Executives, Investment Property owners, Contractors and seniors who are retired

b. Corporate/Partnerships/Non-Profit Organizations

Our business clientele is quite diverse.  Some of them include Physician’s offices, Art Gallery owner, Building supply retailer, Oil & Heating supplier, Costume store, Haunted Theme Park, Funeral home, Insurance and Investments providers and a Media Company.

Corporate tax returns are due 2½ months after year-end; Partnerships and LLCs are due 3½ months after year-end. A 6 month extension can be filed, however all taxes must be paid by extension due date to avoid a penalty.

c. Payroll

Susan can assist business clients with how to pay employees and other payroll services.

Quarterly tax return due dates:

d. 1031 Exchange can help save Capital Gains Tax

1031 Exchange
Many smaller investors are failing to take advantage of a tax-saving strategy called a 1031 exchange. While a common strategy for many commercial investors, small real estate investors can also reap the rewards offered by this opportunity.

A 1031 exchange allows investment property owners to defer taxes on sold property by reinvesting proceeds into a "like-kind" investment property or properties.  This transaction allows them to defer any potential Capital Gains Tax until the “like-kind” property is sold. There are very specific and precise rules that must be followed regarding these transactions. Whether a 1031 exchange makes sense for you can depend on a number of factors; contact North Shore Advisory Group to discuss your particular situation.