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As family offices consider their tax planning strategy, it is important for their tax attorneys, financial executives, and legal team to conduct an analysis of the Biden Administration’s Tax Proposal. This guide and in-depth review, which includes an overview of the proposals impacting high-income taxpayers, will help you prepare for the chan...

Amid low interest rates and volatile asset values, high-net-worth individuals are taking a fresh look at a powerful wealth transfer tool—grantor-retained annuity trusts, or GRATs. When GRATs are used correctly, they can reduce estate taxes and allow grantors to gift assets free of tax.

Couples nearing marriage often confront challenging questions and must make difficult decisions around complex, emotionally charged issues. Somewhere in the process of sorting out financial and estate planning decisions, the question on whether to have a prenuptial agreement may emerge. Here are steps that you and your families may find helpful in ...

After a turbulent 2022, the technology industry is facing another busy year ahead amid a shifting M&A environment, widespread layoffs, and an increased focus on corporate governance. We analyze the trends that shaped the past year and look at the top seven bold predictions that will impact the technology industry. Be prepared for new prior...

The SECURE 2.0 Act of 2022, signed into law by President Joe Biden on December 29, 2022, makes significant changes to the administration and taxation of retirement plans. It addresses many practical concerns that surfaced after the passage of the original SECURE Act in 2019 and during the pandemic. Some of the key changes, including the rules for s...

The quest for nonprofit funding and ways to obtain it continues to evolve while donors want to know the impact of their funds. In this discussion, BPM’s Daniel Figueredo and Tami McInerney explore the tools commonly used by funders and when one of them might be appropriate for your given situation. They also review important accounting and tax...

We have seen a return of "older" risks—inflation, cost-of-living crises, trade wars, capital outflows from emerging markets, geopolitical confrontation, and the specter of nuclear warfare—which few of this generation's business leaders have experienced. These are being amplified by comparatively new developments in the global risks landscape. ...

Developed in collaboration with the World Economic Forum, this 18th edition of The Global Risks Report outlines the major risk issues and trends leaders like you will face in the coming years. This go-to resource provides detailed insights into the priorities and strategies of your peers—and gives you actionable steps to build resilience in th...

Despite the challenging economic headwinds and shockwaves of 2022 continuing to reverberate, there are silver linings for those who focus on planning for the long term. In looking ahead, we examine wealth planning strategies through the power of resilience from four different lenses: multigenerational families, business owners, women, and philanthr...

While charitable giving peaks in December, it is good planning to go past the last month of the year to help make a greater impact for your communities. Depending on your tax needs and philanthropic goals, consider making a gift of appreciated assets, creating a charitable lead trust, and using other options that go beyond making a g...

Historically, beneficiaries learned of wealth transfer plans only after the death of the grantor. However, this approach often leads to unanswered questions and, potentially, feelings of betrayal when expectations for future gifts are left unmet. There are several planning tools, including a Statement of Wealth Transfer (SOWTI), that can facilitate...

Minimizing taxes is never easy. But in times of legislative and economic uncertainty, it can be a real challenge. This guide is an overview of some of the key tax provisions higher-income taxpayers need to be aware of. It offers a variety of strategies for minimizing your taxes. Use it to identify the best strategies for your particular situation w...

A non-U.S. company's classification for U.S. tax purposes is important for Foreign Account Tax Compliance Act (FATCA) compliance and U.S. withholding tax reasons. Advisors to families with succession planning structures that include holding, operating, and other companies should determine the U.S. tax classification for each company in the stru...

Non-U.S. families establishing succession planning structures rarely think about the U.S. generation-skipping transfer (GST) tax. Nevertheless, when a foreign trust becomes a U.S. domestic trust so that distributions can be made in a tax-efficient manner to the settlor’s U.S. grandchildren and more remote descendants, U.S. trustees or tax ret...

How can an organization be confident it is agile enough to react to the unknown and the evolving risk landscape? One of the best ways is by establishing a strong risk culture. In this e-book, Baker Tilly practitioners take a closer look at some of the critical risks that organizations are dealing with now, how those risks have evolved in recent yea...