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[ Tax Accounting Group ]
Family Office Services Program
The Tax Accounting Group Family Offices Services Program provides support to high net worth individuals by providing a comprehensive and flexible suite of accounting, finance, tax and customized administrative services.
With our role defined and services customized to respond directly to your family office mission, stage of development and future objectives, our services typically include the following:
- Manage the day to day accounting for checkbook(s) activity including, verification of accuracy of bills to be paid, disbursing checks for bills, recording deposits into the checkbook(s), and authorizing bank funds transfers.
- Reconcile checkbook(s) on a monthly basis. Research and resolve variances.
- Prepare monthly and year-to-date report of income and expenses as well as account for capital expenditures and preparation of unaudited financial statements.
- Review and consolidate monthly brokerage statements as well as prepare a performance analysis of the investments.
- Maintain up-to-date record of stock holdings in companies for which client is a director, as well as tracking changes in holdings.
- Monitor and manage line of credit issues to include borrowings, payoff and verification of interest calculations for accuracy.
- Monitor Charitable Commitments made and satisfied.
- Identification and communication of material tax planning considerations.
- Identification and communication of transactions or changes and potential tax exposure areas which arise during the preparation of accounting or tax returns.
- Conduct annual review of all deferred compensation accounts.
- Prepare Private Foundation, Trusts, and Individual Income tax returns and calculate required estimated tax installments.
- Coordinate and consult with Banking, Legal and Investment Advisors as appropriately needed.
- Meet with client on a monthly basis to discuss applicable issues and review reports.
For More Information
For additional information, please contact Michael A. Gillen, CPA, CFE, Director of the Tax Accounting Group.