Tax Reduction Summary Form | The Tax Reduction Network

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Name*
Phone*
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Birthdate*
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Name
Birthdate
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Name
Birthdate
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Name
Birthdate
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Name
Birthdate
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Name
Birthdate
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Filing Status
AGI (Form 1040, Line 38)
Tax Income (Form 1040, Line 43)
AMT (Form 1040, Line 45)
Home Status
- Rent your home
- Own your home
- Plan to buy a 2nd home
- Own a 2nd home
- Plan to retire to your home
- Plan to retire to your 2nd home
Lifestyle Status
- Active duty in U.S. military
- Member of Clergy
- Plan to marry within 12 months
- Plan to divorce within 12 months
- Expecting a baby within 12 months
- Pay Daycare costs
- Pay or receive alimony or child support
- Saving for college
- Paying college tuition
- Supporting parents financially
- Owe $10,000+ in unsecured debt
Annual Salary - Self
Annual Salary - Spouse
Employment Benefits - Self
- Retired or retiring within 12 months
- SIMPLE IRA or SAR-SEP
- 401(k) plan
- 403(b) plan
- Flexible spending account: healthcare
- Flexible spending account: daycare
- Health Savings Account (HSA)
- Incentive stock options
- Nonqualified stock options
- Restricted stock
- Employee stock purchase plan
- Nonqualified deferred compensation
- Employer stock in retirement plan
- Unreimbursed employee business expenses
Employment Benefits - Spouse
- Retired or retiring within 12 months
- SIMPLE IRA or SAR-SEP
- 401(k) plan
- 403(b) plan
- Flexible spending account: healthcare
- Flexible spending account: daycare
- Health Savings Account (HSA)
- Incentive stock options
- Nonqualified stock options
- Restricted stock
- Employee stock purchase plan
- Nonqualified deferred compensation
- Employer stock in retirement plan
- Unreimbursed employee business expenses
Your Business
Business 1 Name
Business 2 Name
What percentage of business 1 do you own?
What percentage of business 2 do you own?
What percentage of business 1 does your spouse own?
What percentage of business 2 does your spouse own?
What is Business 1's net income?
What is Business 2's net income?
Business 1
- Startup (less than 2 years old)
- Part-time or sideline business
- Personal services business
- Business owns capital equipment
- Business owns or occupies real estate
- Business occupies a home office
- I/we intend to sell business
- I/we intend to leave business to family
Business 2
- Startup (less than 2 years old)
- Part-time or sideline business
- Personal services business
- Business owns capital equipment
- Business owns or occupies real estate
- Business occupies a home office
- I/we intend to sell business
- I/we intend to leave business to family
Business 1 - Choice of Entity
- Proprietorship (or LLC taxed as proprietorship)
- Partnership (or LLC taxed as partnership)
- S Corporation (or LLC taxed as S Corporation)
- C Corporation (or LLC taxed as C Corporation)
Business 2 - Choice of Entity
- Proprietorship (or LLC taxed as proprietorship)
- Partnership (or LLC taxed as partnership)
- S Corporation (or LLC taxed as S Corporation)
- C Corporation (or LLC taxed as C Corporation)
Business 1 Salaries - Yourself
Business 2 Salary - Yourself
Business 1 Salary - Spouse
Business 2 Salary - Spouse
Business 1 Salaries - Minor child or children
Business 2 Salaries - Minor child or children
Business 1 Salaries - Adult child or adult children
Business 2 Salaries - Adult child or adult children
Business 1 Salaries - Non-family employees
Business 2 Salaries - Non-family employees
Business 1 Salaries - Non-family annual payroll
Business 2 Salaries - Non-family annual payroll
Business 1 Benefits Offered:
- Group health insurance
- Health Savings Accounts (HSA)
- Medical expense riembursement plan
- Flexible spending account: healthcare
- Flexible spending account: daycare
- Education assistance plan
- Nonqualified deferred comp plan
- SIMPLE IRA
- SEP-IRA
- Profit Sharing/money purchase paln
- 401(k) plan
- Defined benefit plan
Business 2 Benefits Offered:
- Group health insurance
- Health Savings Accounts (HSA)
- Medical expense riembursement plan
- Flexible spending account: healthcare
- Flexible spending account: daycare
- Education assistance plan
- Nonqualified deferred comp plan
- SIMPLE IRA
- SEP-IRA
- Profit Sharing/money purchase paln
- 401(k) plan
- Defined benefit plan
Your Investments
Your Investment Objectives - Self
- Invest primarily for income
- Invest primarily for growth
- Invest for both income and growth
- Manage IRA or qualified retirement plan assets
- Manage Roth IRA assets
- Own permanent life insurance or annuities
Your Investment Objectives - Spouse
- Invest primarily for income
- Invest primarily for growth
- Invest for both income and growth
- Manage IRA or qualified retirement plan assets
- Manage Roth IRA assets
- Own permanent life insurance or annuities
Taxable Accounts - Self
- Cash, CD's or money market funds
- Taxable bonds or bond funds
- Municipal bonds or municiple bond funds
- Stocks or stock funds
- Real estate investment trusts
- Options, futures or commodities
- Oil & gas, equipment leasing or timber investments
- Low-income housing tax credits
Taxable Accounts - Spouse
- Cash, CD's or money market funds
- Taxable bonds or bond funds
- Municipal bonds or municiple bond funds
- Stocks or stock funds
- Real estate investment trusts
- Options, futures or commodities
- Oil & gas, equipment leasing or timber investments
- Low-income housing tax credits
Advanced Strategies - Self
- Pay asset management or financial planning fees
- Invest on margin
- Periodically or regularly rebalance your potfolio
- Day-trade or use market-timing strategies
- Sell stocks short
- Hold $100,000+ gains in portfolio
- Hold $100,000+ gain in a single security
- Hold $100,000+ in unrealized portfolio losses
- Hold $100,000+ in capital loss carryforwards
Advanced Strategies - Spouse
- Pay asset management or financial planning fees
- Invest on margin
- Periodically or regularly rebalance your potfolio
- Day-trade or use market-timing strategies
- Sell stocks short
- Hold $100,000+ gains in portfolio
- Hold $100,000+ gain in a single security
- Hold $100,000+ in unrealized portfolio losses
- Hold $100,000+ in capital loss carryforwards
Real Estate Invstments - Self
- Own real estate individually
- Own real estate jointly with spouse
- Own real estate through LLC/S corp individually
- Own real estate through LLC/S corp with spouse
- Own real estate through LLC/S corp with non-family
- Own real estate as a limited partner
- Wholesale or "flip" property individually
- Wholesale or "flip" property in LLC/S corp
- Invest in mortgage notes or tax lien certificates
- Report farm income or loss
- Qaulify as a "real estate professional"
Real Estate Invstments - Spouse
- Own real estate individually
- Own real estate jointly with spouse
- Own real estate through LLC/S corp individually
- Own real estate through LLC/S corp with spouse
- Own real estate through LLC/S corp with non-family
- Own real estate as a limited partner
- Wholesale or "flip" property individually
- Wholesale or "flip" property in LLC/S corp
- Invest in mortgage notes or tax lien certificates
- Report farm income or loss
- Qaulify as a "real estate professional"
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Your Business

Your Investments