Foundations:

  • LLC Organization.  If necessary, Tax In-House will organize (legal term for create) a LLC or corporation for your business.  A LLC/corporation is a legal entity separate and distinct from its members  (shareholders).  A LLC/corporation can open bank accounts in its name, open credit cards and other credit accounts in its name, and can file a tax return in its own name.
  • Employer Identification Number (“EIN”).  If necessary, Tax In-House will obtain an EIN on behalf of our client.  An EIN is the equivalent of a social security number for a business.
  • State Department of Labor & Department of Revenue Identification Numbers.   If necessary, Tax In-House will assist in obtaining Department of Labor and Department of Revenue IDs on behalf of our client.  These IDs are necessary for businesses having employees (including all S-Corps).
  • Tax Optimization.  Tax In-House will ensure your business is taxed optimized.  Realtors have many options when it comes to how they are taxed.  Tax In-House will work with each client to ensure their business is structured in a manner that minimizes their tax liability.

Monthly Service:

  • Profit & Loss Statements.  Tax In-House will provide monthly Profit and Loss Statements.  These statements provide a snapshot of the financial health of your business.  They can be used to find both waste (ie expenses that are unnecessary) and areas where the return on investment is not being maximized (ie spending too little on advertising that works).  Profit & Loss Statements allow Realtors to track their tax liability, budgets, goals, and forecasts.  In short, financial statements help Realtors find the most productive use for their time and money.
  • Monthly P&L Discussion Group/Financial Mastermind.  Financial statements without comprehension greatly diminishes their value.  Tax In-House hosts a monthly P&L Discussion Group/Financial Mastermind to assist agents in understanding their P&Ls and answer any questions they may have.  Additionally, this group/mastermind provides a venue for mega agents from across the country to talk about their numbers (percentages) and collectively see what is and isn’t working.
  • Payroll.  Tax In-House will process payroll on our clients behalf.  This includes determining the correct withholding taxes, submitting tax payments, and can include direct deposit wage payments.
  • Payroll Tax Returns.  Tax In-House will prepare and file your payroll tax returns for both the State and Fed.  On the federal level these are forms 940 and 941.  These returns are typically due on a quarterly basis.
  • Annual Services (cost included with the monthly service):
    • 1099 & W-2s.  Tax In-House will prepare and file both 1099s (for independent contractors) and W-2s (for employees);
    • Business Tax Return.  Tax In-House will prepare and file your business tax return.  This includes issuing K-1s where necessary.

Upon Request:

  • Questions.  Tax In-House will have staff available to answer any tax or accounting question you may have.  We want you to understand what the numbers mean and will take the time to explain it to you.
  • Budgets.  Tax In-House will assist clients in creating a business budget.  A budget is essentially what you want your profit and loss statement to look like at the end of the year.
  • Tracking.  Tax In-House will assist our clients in monitoring their budget and goals.
  • Analysis.  Tax In-House staff is fully versed in the KW business model.  Upon request we are happy to discuss your business and business strategy as it relates to these principles. 

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