After calculating this year’s income taxes, what steps are taken to lower additional tax threats for clients? Do you provide annual corporate, estate, and capital gains audits?
When U.S. tax laws change, does your firm utilize a system that requires high net worth clients to review pension, corporate, personal or estate plans for required changes?
What planning tools do you utilize to protect your client’s assets from such tax threats?
Because most accounting firms never review qualified plans, insurance ownership, highly appreciated assets, disability benefits, or deferred compensation plans (which can increase your client’s taxable income or estate tax liability radically), clients and their heirs can often find themselves at the mercy of IRS audits, tax liens, and penalties.
What are your firm’s motives for not auditing corporate benefit packages, beneficiary designations, premium payments, trust accounting, annual gifting, and estate plans?
Affluent clients who benefit financially from your advice can reward your firm handsomely. However, steps should be taken to retain business successors and family heirs.
How does your firm protect and conserve valuable client assets?
