BDO’s Private Client Services tax professionals are often asked for a list of tax “Do’s” and “Don’t’s” to help ensure that no tax planning opportunities nor implications are missed.
In response, we have comprised a summary of items that are commonly overlooked or misunderstood when considering the various aspects of managing family wealth from a tax perspective.
The items outlined within serve as both cautions and opportunities for those managing family wealth. While this listing is not comprehensive of all the factors for consideration, it should be seen as an opportunity to review the most common oversights and deficiencies we see occur regarding tax compliance, planning, and estate administration. Addressing these items should serve as a starting place for deeper conversations with advisors inside and outside of the family office.
This collection includes easy-to-read recommendations around the following topics:
- Estate Planning & Trust Administration
- Gifts & Charitable Giving
- Final Estate Administration
- International Tax Compliance
- IRS & State Controversy
