How Breadcounter Discovered a Hidden $195K Tax Asset and Saved This Developer $67K

This real estate developer and construction business owner was pulling $21K+/month through his S-Corp while flipping multiple properties throughout the year. On paper, things looked solid. In reality, his business was a compliance disaster. He’d been running his company for FOUR YEARS without taking any payroll. Normally that wouldn’t matter, but he had elected to be taxed as an S-Corp. Zero salary payments is a classic IRS red flag. If audited, the IRS could reclassify all his shareholder distributions as wages, leaving him on the hook for years of back payroll taxes, penalties, and interest. Beyond the compliance nightmare, he had no clear understanding of his numbers. His chart of accounts was a mess. He didn't know how much he actually owed in taxes or how to lower his liability. He came to us in Q4 facing a $73,305 tax bill with three property flips creating additional complexity. Lastly, during our discovery process, we found a $195,000 Net Operating Loss from 2023 that he didn't even know existed.