Family Office Services provides support to high net worth individuals by providing a comprehensive and flexible suite of accounting, finance, tax and customized administrative services.
- 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.
