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Wealthy Families

 

Tax, accounting, and attest services often extend across wealthy families, their offices, and related ventures, including executors and trustees who are managing estates and trusts, privately held companies, and public companies where family members serve on the Board of Directors, family funded trusts, and their charitable foundations.

Proper guidance and service is crucial in meeting your family’s collective financial goals, helping your businesses prosper, upholding your fiduciary responsibilities, and minimizing your tax burden. At L&H, we are committed to your family’s success.

 

 

Tax Planning, Compliance, & Consulting

Ever-changing tax laws can dramatically affect your family’s wealth and business operations. Wealthy families require a service provider capable of uncovering positive potential tax impacts, while providing your family with the tools needed to avoid the negative impacts. Here are some of the planning, compliance, and consulting services we provide to wealthy families and their ventures:

  • Residency Considerations

  • Analysis of Pension Benefits

  • Qualified Business Income Deductions

  • Fiduciary Tax & Trust Matters

  • Family Limited Partnership Tax Planning and Compliance

  • Representation before the IRS or State Tax Authorities

  • Projections and Estimated Tax

  • Calculation of Alternative Minimum Tax

  • Investments and Capital Gains Transactions

  • Complex Family Issues, including tax implications of a divorce or separation

  • Analysis of Tax Implications of Wealth Transfers

  • Trust and Charitable Foundation Creation

  • Retirement Planning

 
 
 
 

What We Are Talking To Our Clients About

 
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Tax Planning

Year-round support for tax planning as
assets and life circumstances change.

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Legacy Giving

Trust and Charitable Foundation Creation
and reporting.

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Advisory Team

Working with your private wealth advisor on accounting and tax matters.

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Tax Preparation

Our tax filing services for wealthy families include preparation of Form 1040, Forms 1041, 709, and 706 for estates and trusts, Forms 1065, 1120S, and 1120 for private and public companies, Form 990PF for charitable foundations, and state tax filings for all U.S. states, including multi-state filings, as well as other informational and local filings.

 

 

Agreed Upon Procedures

Family offices often involve a small group of family members and employees, making segregation of duties a challenging task. L&H performs agreed upon procedure (AUP) engagements for focused, specific objectives, such as operational reviews and assessing the strength of internal controls, that merit an independent perspective.

 

 

Working with Wealth Managers

Our seasoned certified public accountants have built longstanding, trusted relationships with wealth managers who turn to us to help serve their clients. While they provide financial planning and wealth management, L&H offers a full set of tax and accounting services. This partnership allows high net-worth individuals to receive all of the financial advice and services they need from one trusted source.

Contact us to find out more about our comprehensive tax preparation services for wealthy individuals and families and how we can serve your family’s accounting needs.

 
 
 
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Wealthy Families Specialist

Wendi S. Haynes, CPA

Wendi has been with Livingston & Haynes, P.C. for over thirty years. She serves as the firm’s Managing Partner.  Wendi has extensive experience providing assurance, tax and business consulting services to nonprofit organizations, including human service organizations, charitable and grand making institutions, cemeteries, foundations, social clubs, and fraternal organizations.

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