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
Tax Planning
Year-round support for tax planning as
assets and life circumstances change.
Legacy Giving
Trust and Charitable Foundation Creation
and reporting.
Advisory Team
Working with your private wealth advisor on accounting and tax matters.
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.
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.
