Valley Tax Preparation,
Without the Stress
Valley grew up around water and farmland, and its returns tend to reflect one or the other. A lake house that doubles as a weekend rental. A working farm a few miles out. Ground that has been in the family and is finally being sold. These are situations where the money is tied up in property, and property carries rules that a straightforward W-2 return never touches. The most expensive mistakes we see out here are not errors of income. They are timing and structure decisions on real estate and land, made without knowing what the tax code does with them.
We are about half an hour east at 12305 Gold St in west Omaha. Many Valley residents choose us because the price is published before we start, because your return is prepared by one credentialed professional who is a CFP® professional, CFA® charterholder, and Enrolled Agent rather than a seasonal hire, because you get responses from us quickly even during tax season, and because you get a recorded video explaining your tax return rather than just a folder and a handshake.
Ready to Get Started
Choose the way that works best for you.
Some Situations That Might Apply to You If You’re from Valley
Your lake place, whether you rent it out or not
A second home on the water changes your return before anyone rents a single weekend. Mortgage interest on a second residence follows its own rules, and property tax on lakefront value is not small. The moment you start renting it, though, the return gets genuinely technical. A lake house rented a few weekends a summer and one rented most of the season are taxed very differently, and the paperwork that supports the difference has to exist before April.
You are selling land that has climbed in value
Ground around Valley has appreciated sharply, and a sale in one tax year can stack a large gain onto everything else and push you into brackets and surtaxes you do not normally see. There are ways to manage that. An installment sale can spread the gain across the years you actually collect the money. A like-kind exchange can defer it entirely if you are moving from one piece of investment property into another, though the clock and the rules are strict. If the land came to you through an estate, its basis was likely stepped up at the date of death, which can erase most of the gain, but only if that value was established and documented. The common thread is that all of these have to be set up before closing, not discovered after it. If a sale is coming, that is the conversation to have first.
Your income is high enough that the 3.8% surtax reaches your rentals and your land sale
Above a certain income level, a separate 3.8% tax applies on top of everything else, and it targets exactly the income Valley returns are built on: net rental income, interest, dividends, and the capital gain from selling land or a second property. The net investment income tax lands on the smaller of your investment income or the amount your income sits above the threshold, so a strong year can push you into it. The threshold has never been adjusted for inflation since it took effect, so more households cross it every year without anything about their own situation changing. Where it comes up, the planning is in the timing: spreading a land sale across years with an installment sale or placing a sale in a year your other income is lower, can keep some or all of the gain out of its reach.
Prefer to Learn
More First
Take a quick tour of how we work and what makes us different.
Why Choose MTS