Misc
These custodians are the two most frequently used custodians at Creative Planning.
What are Schwab and Fidelity?
This commonly prepared business return is a popular entity classification for those looking to save on employment taxes.
What is a S Corporation?
This form number is used to report nondeductible IRA and conversions to Roth IRAs.
What is form 8606
This code section allows for an exclusion on primary home sale.
What is section 121.
This bubbly wine is traditionally used for celebrations and comes from France.
What is champagne?
These investments can require an extension if reported outside the custodian account, in a reportable account, and after the 4/15 deadline.
What are alternative investments?
This state helped initiate the now popular PTET election and SALT deduction "workaround".
What is Connecticut?
This provider is a leading partner of Creative Planning's that supports charitable clients with Donor Advised Funds.
What is Greater Horizons?
This code section outlines the rules for passive activities.
What is code section 469?
This Irish cream liqueur is often added to coffee.
What is Baileys?
This software in 2025 will help remove the scan process for those directors who are using it.
What is Accrual?
This journal entry is generally the first journal entry we make in when working on a business return.
What is rolling retained earnings?
This triple tax advantaged account is popular avenue to save on taxes and potentially for retirement.
What is a HSA?
What is section 1031?
Made primarily from juniper berries, this spirit is the base of a classic martini.
What is gin?
This four letter department is our department that may act as the trustee for client trusts.
What is CPTC?
This code section is an automatic election and require one or more elections to opt out of.
What is bonus depreciation?
This equity compensation election allows for taxation on of RSUs to be taxed at grant rather than vest date.
What is 83(b) election?
This code section outlines the rules for At-Risk basis.
Distilled from fermented sugarcane juice or molasses, this spirit is central to many Caribbean drinks.
What is rum?
This custodian is the only custodian that may appear in Salesforce for a client trust account that CP Tax does not have access to.
What is Goldman Sachs?
This form is supplied from a partnerships to partners when the partnership has amended or has an audit adjustment in a prior year and pushed it out to the partners.
What is form 8986?
This type of equity compensation when exercised does not trigger regular tax.
What are ISOs?
This code section outlines business expenses and outlines the "necessary and ordinary" nature of business expenses.
This wine fault is caused by cork contamination and is associated with the compound TCA.
What is cork taint?