Taking control of your future is the key to organizing your financial life, compounding your wealth, and building the legacy of your dreams — and it is attainable working with a family office. Traditionally, many wealthy individuals and families have worked with separate financial experts that produced disjointed advice. Now there is a better way. …
As a business owner, you probably know all too well that “what got you here, may not get you there.” To continue to thrive and grow in today’s world requires adaptability and ongoing, proactive approaches. For many privately-owned businesses, this can create a unique set of challenges. We often see three areas where privately-owned businesses …
According to the U.S. government, the average cost of raising a child from birth to age 18 is about $233,610. That’s a significant sum, almost a quarter of million dollars for one child. If you have a large family or are planning on one, the cost could run into seven-figures. And that does not even …
Tax audits are one of the most dreaded situations that can enter your personal and professional financial life. Even though the chances of being audited are relatively low, the possibility is always there. Luckily, there are ways to keep your tax return lower on the IRS’s radar. By avoiding specific red flags that may trigger …
Determining the best business entity type for your business can be overwhelming. Most business owners are aware of the common LLC and C-Corporation options that many businesses fall under; however, another viable and sometimes tax saving option is the S-Corporation. Though an S-Corp can have multiple advantages, there are also a handful of disadvantages to …
Have you reevaluated your core values or goals lately? Assessed new opportunities to provide for your family and future generations? As you continue the journey of your life it is easy to get wrapped up in the routine of business ventures, hobbies, and spending time with family — meanwhile your financial plans may not be …
TSP Family Office has helped clients just like you navigate some of their most significant assets, philanthropy efforts, and other aspects of their complex financial lives. To bring your goals to fruition, collaboration amongst your financial team is of the utmost importance. Can you recall the last time your attorney met with your CPA? How …
Oftentimes, many business owners and high earners receive fragmented guidance that results in conflicting advice. This disconnect can come with a significant price tag as a lack of collaboration between financial advisors and tax planners can lead to detrimental loss of face value for your retirement fund. The true value of a financial partner lies …
For many high-net-worth individuals, a family office may be familiar, but not without questions on which pieces of your financial life this type of consultant should handle. A family office is a private wealth management firm made up of a team that helps you make financial decisions. They serve high-net-worth individuals and families by providing …
December 31st is quickly approaching. And as of this date, you will not be able to put any strategies in place to maximize your tax savings for 2021. Have you taken all the steps necessary to maximize your tax savings for 2021? During this discussion, Tom Gibson, CPA, and Kami Elhert discuss the most important …
