AT A GLANCE

CHALLENGES

Extensive and diversified investment portfolio

Limited time and internal capacity for financial oversight

Fragmented and inconsistent financial recordkeeping

Complex multi-entity accounting needs

BENEFITS

Year-end ready financials

Optimized tax planning + peace of mind during tax season

Informed financial decisions

Seamless CPA collaboration

High-quality reporting

Objectives

This case study highlights how Plumb Bill Pay supported a high-net-worth real estate investor in managing the complexities of multiple properties, an S Corporation, and a brokerage account. By organizing financial records, standardizing reconciliation processes, and delivering accurate, consolidated financial reporting, Plumb provided the client with a clear picture of their overall financial position. These tailored solutions enabled more informed decision-making, improved cash flow oversight, and enhanced collaboration with the client’s CPA for tax planning and compliance.

Client Objectives Addressed by Plumb Bill Pay:

• Organize and manage financial records across multiple real estate entities and personal accounts

• Streamline accounting for a large, diversified portfolio of multi-family and mixed-use properties

• Provide accurate bookkeeping and reporting for an active S Corporation

• Track and reconcile a high-volume brokerage account with complex transactions

• Address sophisticated personal accounting needs, including multi-entity coordination

• Ensure timely preparation of tax documents and year-end financial packages

• Alleviate the client’s time constraints by serving as a comprehensive, outsourced accounting solution

• Support collaboration with the client’s CPA and financial advisors for tax planning and compliance

Solutions

Plumb Bill Pay collects, tracks, and organizes the client’s financial data to deliver comprehensive, audit-ready financial packages at year-end, enabling the client’s CPA firm to work more efficiently while maximizing standard deductions. In addition, Plumb provides quarterly financial reports to help CPAs proactively adjust estimated tax payments and avoid costly penalties or interest from the IRS or Franchise Tax Board. With accurate, year-round recordkeeping—including timely reconciliations and detailed tracking of income and expenses—the client approached tax season with confidence, knowing their financial data was complete and reliable. This clarity also empowered them to make more informed decisions across their wealth and property portfolio.

Benefits Gained by Utilizing Plumb Bill Pay & Family Office Accounting:

• Year-End Ready Financials: Organized, reconciled, and audit-ready financial packages streamlined tax filing and reduced CPA billable hours.

• Optimized Tax Planning: Quarterly reports enabled timely tax estimate adjustments, helping avoid IRS and FTB penalties.

• Peace of Mind During Tax Season: Accurate, up-to-date financial records ensured confidence and compliance when filing returns.

• Informed Financial Decisions: Clear visibility into income, expenses, and entity performance empowered better wealth and property portfolio management.

• Seamless CPA Collaboration: A structured tax organizer process simplified communication and documentation for more efficient return preparation.

• High-Quality Reporting: Consistent, accurate reporting provided the foundation for long-term financial control and strategy implementation.