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Personal Income Tax Organizer: Preparing your Financials for Filing Tax Returns

Overview of the recordkeeping and accounting services that go into putting together a personal income tax organizer that streamlines year-end tracking and creates financial organization in order to file tax returns.







High-net-worth real estate investor with multiple properties, S Corp, and brokerage account

Net Worth



This real estate investor has a large portfolio of multi-family rental and mixed-use properties, along with an S Corp, and complex personal accounting needs. With limited time and resources to organize his financial records and supporting tax documents, he turned to Plumb Family Office Accounting  & Bill Pay as an outsourced accounting solution.

The Solution

Plumb Family Office Accounting  & Bill Pay collects, tracks and organizes the client’s financial data to create a comprehensive and audit-proof financial package for year-end.  This allows for the client’s CPA firm to be more cost-effective with their time and helps to maximize standard deductions. Plumb also supplies the CPA with quarterly financial reports to properly adjust estimated tax payments as needed to avoid any penalties and interest chargers with the IRS or Franchise Tax Board.

By having accurate recordkeeping throughout the year, with up-to-date reconciliations and properly tracked income and expenses, the client experienced tax season with the peace of mind knowing that he had the highest quality of data and financial reporting to file tax returns. With a clear financial picture, he was able to make informed decisions with his wealth and property portfolio.

“Plumb Family Office Accounting & Bill Pay tracks and organizes my client’s financials and paperwork throughout the year and I never have to worry about any last-minute fire drills or missing information during tax deadlines”.  – Client’s CPA

The Results

Personal Income Tax Organizer: “Pulling it all Together” In order for Plumb Family Office Accounting & Bill Pay to organize and compile all the data for the client’s CPA to file tax returns, we follow an accounting preparation guideline, including: Step 1: Fully reconcile and close out year-end financials Step 2: Print a P&L statement for each entity to use as reference tool Step 3: Work with the client’s CPA to use their standard personal income tax organizer or create document using Plumb Family CFO template Step 4: Outline and track any major purchases made throughout the year that may have a tax impact – for example, purchase/sale of real estate, purchase of electric vehicle or IRA contributions Plumb Family Office Accounting is an expert at delivering the clarity and financial peace of mind high-net-worth individuals and family offices need. Let us know if you would like to get in touch for more information. We work in partnership with your team — wealth, CPA, and other advisors — to provide the highest quality financial reporting. This gives you true control of your wealth and establishes the foundation for effectively implementing your financial strategies.

Take the First Step

Request a consultation to learn how Plumb Bill Pay customizable service offerings can help you save time, gain clarity and remain in control.