The Assets and Liabilities Report is a powerful tool that provides a comprehensive view of all the financial holdings the IRS is aware of, including bank accounts, retirement funds, real estate and more. Clear visibility into clients’ assets, liabilities, and income will help optimize their financial strategy, ensure tax compliance, and offer insights for smarter planning.
Sections of the Assets & Liabilities Report
Cash & Investment Accounts
Cash & Investment Accounts
A comprehensive view of all bank and brokerage accounts, including details on custodians, interest, dividends, trades, trading proceeds, and cost basis and offering a clear picture of all counts with interest-bearing or investment activity.
Retirement & Tax Advantaged Accounts
Retirement & Tax Advantaged Accounts
An overview of a client’s retirement and tax-advantaged savings accounts, including fair market value, contributions, distributions, transfers, and repayments for IRA, SIMPLE, SEP, MSA, HSA, and ESA. Track employer and employee contributions to employer-sponsored retirement plans, such as 401(k), 403(b), 457(b) and SIMPLE.
Estates & Trusts
Estates & Trusts
View client share of any estate & trust income, insuring comprehensive tracking of income for tax reporting and planning.
Business Ownership
Business Ownership
Get insight into a clients' private investment portfolio, whether it’s ownership of a family business or a private investment, along with visibility into owner/partner share of income, exact ownership share, and partner recourse and non-recourse liabilities
Did you know? Clients can authorize access to business financials for private investments with 1% ownership or more
Real-Estate Holdings & Mortgages
Real-Estate Holdings & Mortgages
Know about any mortgage-financed real-estate, along with servicing lender, outstanding principal, interest paid, and approximate interest rate.
Quick tip: Monitor changes in upcoming interest rates to see if your client might benefit from refinancing.
Student Loans
Student Loans
See any outstanding student loans and interest paid.
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