INVESTMENTS
Accounting & Tax
Daily Account Balance Aggregation -
We build each member of our Family Office a private family website which organizes and updates the account balances and values of all assets and liabilities each day. Knowing your current account balances and asset allocations is critically important when making decisions that impact your family’s wealth. Each private family website allows our families to spend less time sorting through account statements each time an important financial decision must be made.
Remote Electronic Document Storage -
During emergencies and other unexpected lifecycle events, families must have access to their legal, financial, and personal documents. Many families do not know where these documents are stored or whether they are up-to-date. Would you know who to contact to obtain family records in the event of a tragedy? If the head of the family were suddenly unable to fulfill that role, what is your plan of action? We anticipate that families may one day, unfortunately, need to sort out their affairs unexpectedly. Our Family Office provides its members with a safe and secure electronic vault where documents, videos, passports and other electronic media can be organized, centrally stored, and made accessible via the Internet, 24/7.
Bill Paying -
Family members may not only be responsible for paying their own expenses but potentially for those of their adult children, parents, and businesses as well. Even for the most organized individuals, this can be an overwhelming responsibility. We can help by aggregating your family’s account statements, ensuring you have enough cash in your liquid accounts, and paying expenses on your behalf.
Bookkeeping -
Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful medical practice. We can assist you with the day-to-day tasks associated with bookkeeping.
Partnership Accounting -
Because ownership rights in a partnership are divided among two or more individuals, separate capital and drawing accounts are maintained for each partner. When there are unequal ownership interests, cash accounts, capital accounts, guaranteed payments, and bonus structures, it can make accounting a challenge. When a new partner is admitted or a former partner withdraws, the challenges are compounded. We can help you manage these challenges, culminating in the drafting of schedule M-1 and K-1 IRS forms.
Tax Advice and Planning -
In an ever-changing regulatory environment, it is important to have an expert help you take advantage of the most current developments in the tax laws. We can help you minimize your family’s current and future tax liabilities with the use of thoughtful tax planning techniques. In addition, we can help coordinate and implement tax-saving strategies for your practice and your family.
Tax Preparation -
Whether for your practice or family, our Family Office experts can help you develop tax strategies that take advantage of new tax laws and legislations. We can also help you file annual or quarterly estimated taxes quickly and efficiently.
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