Left with a Mess

This woman’s son ran a business but put the business in his mother’s, our client’s, name. When he committed suicide, his grieving mother was left to clean up a horrific tax mess. She came to us.

To keep her from having to pay tax on money that he made and spent, we looked at the financials through the date of his death and assigned that income to his estate through a Form 1099. She took the rest of the income since she was the one that made that money. It was a perfectly legal tax strategy that saved this woman thousands of dollars that she didn’t owe in the first place but she would have been paying if she hadn’t had a good accounting team! She is back on track with little or no tax damage.