Here at Tembo one of the things we do best is help you save money, especially when it comes to taxes.
We had a client who owned around 20 rental properties, which are usually treated as separate businesses when it comes to taxes.
This can get pretty complicated and due to the way our client was set up, he couldn’t take full advantage of certain losses. This was going to be a huge bummer for him.
However, after some strategizing, we made an election on the tax return that would group all of the rental properties so they would be treated as one entity. This allowed our client to take ALL of the losses that had been suspended.
Guess how much he ended up saving in taxes?
We don’t believe in being lazy or doing things the easy way.
We do whatever it takes to help you maximize the amount of money you get to keep in your pockets.