High Net Worth Archives

Hiding Money or Income Offshore

Hiding Money or Income Offshore Resides on the “Dirty Dozen” List of Tax Scams for the 2016 Filing Season WASHINGTON — On February 5,2016 The Internal Revenue Service declared that avoiding taxes by hiding money or assets in unreported offshore accounts remains on its annual list of tax scams known as the “Dirty Dozen” for …read more

Characteristics of LLCs VS S Corporations

New entrepreneurs put a lot of time and thought into incorporating and choosing a business structure. After all, it’s the first big legal decision to make for the business — and there are plenty of second and third-hand anecdotal horror stories about the founder who picked the “wrong structure” and got screwed over at tax …read more

Family Limited Partnerships for a High Net Worth Family Office

Family limited partnerships are often ideal for families with closely held businesses. Are your family members actively involved in your trade or business? Does it make sense to divide rights to income, appreciation, and control among the family members? A family limited partnership may provide immediate tax advantages, maximize estate value, and secure a smooth …read more