TAX ADVISORY

When making personal and business-related decisions, tax implications must always be considered. Having sound tax advice is crucial to tax efficiency and being compliant with tax authorities. This especially holds true for high net worth individuals and their closely held entities. Each individual’s and entity’s tax situation is different, which requires a tailored approach to create the most effective solutions.

Gerson Preston excels in providing individualized service to address all your specific needs and issues. Our tax services are more than just completing your annual tax forms. We take the time to understand our clients in order to develop the right strategy to minimize tax exposure and maximize after-tax income. Keeping abreast of all changes and developments in federal, state, and local tax laws, we advise you throughout the year to ensure you are always in the most advantageous position.

Our firm has excellent capabilities and an outstanding reputation in all areas of taxation including tax planning, consulting, and the preparation of federal, state, and local tax returns for individuals, partnerships, limited liability companies, corporations, estates, and trusts.

Our Private Client Tax Advisory Services include:

  • Preparation of federal, state, and local tax returns and tax workpapers
  • Preparation of quarterly estimated tax projections
  • Tax dispute resolution and representation before IRS and state tax authorities
  • The structuring of transactions so that the organization will be subject to the minimum amount of tax liability
  • The documentation of transactions in a manner that minimizes unfavorable tax exposure
  • The most favorable application of tax laws based upon all the facts of a particular transaction
  • Assisting in adopting measures to minimize tax exposure and protect its filing status
  • Ongoing planning throughout the year and development of long-term strategies
  • Strategies on maximizing tax benefits of each member of the family
  • Charitable giving and maximization of tax benefits for charitable giving
  • Estate planning including family limited partnerships; appraisals and valuations with minority and marketability discounts for gifting purposes; generation skipping tax planning; asset value freeze techniques; and all types of trusts – charitable lead and charitable remainder trusts, insurance trusts, and defective grantor trusts