139 Wood Road, Braintree, MA Tales of the Tax Return John P. Napolitano, CFP®, CPA, PFS, MST, RLP®

Why Tax Returns Reliable Scorecard Client commitment Evaluation of other advisors Uncover opportunities

Which Returns S

1040 Dependents –Children Education planning Gifting Income shifting –Elderly Parents Estate planning

Income Deferral opportunities 401K, 457, 403b Plans from former employers

Interest Taxable –Source –Alternatives Tax Exempt –Source –Alternatives Title to Asset

Dividends Source –Funds –Stocks Performance Alternatives Title

Schedule C Succession planning Audit Risk Income shifting Retirement plan Risk Management –Liability & Asset protection –P & C coverage –Home office?

Schedule D Loss carry forwards Trading activity Loss harvesting Coordinated with tax plan?

IRA Distributions Are there any? NUA from 401K Should there be some? Beneficiary elections Where should client be taking money from?

Schedule E Gold mine of information LLCs, Sub S & Partnerships –Succession issues –Agreements

Schedule E Real Estate –Risk management –Multiple owners –Form of ownership –Estate Planning Trusts (1041) –Assets to manage –Trustee adequacy & opportunity

Simple, SEP, IRA Maximizing opportunity Investment choice

Itemized Deductions Charitable –Appreciated Securities –Timing –CRAT, CRUT –Private Foundation

1065 Current Partnership agreement Valuation Buy Sell Retirement Plans Employee benefit plans Partners!

1120 & 1120S Total Assets Compensation of officers Rents –Who owns the property? Pension and Profit Sharing Employee benefit plans

1120 & 1120S Shareholder agreement Partners Succession plan Deferred Compensation agreements

709 # of Donees Previously filed 709 Split Gifts 529s Valuation and discounts Basis & Date Generation Skip

706 For Deceased spouses For current estate plan

John P. Napolitano, CFP®, CPA, PFS, MST, RLP® Chairman & CEO U.S. Wealth Management, LLC 139 Wood Road Braintree, MA