High Net Worth Individuals and Businesses
With significant wealth for high net worth individuals and businesses comes complex tax issues, including but not limited to income, gift, and estate tax considerations. Our multidisciplinary accounting and audit practices deliver the counsel, skill and experience to help you preserve accumulated assets, whether they involve real estate, S-corporation, partnership issues, charitable contribution calculations, closely-held business issues, private foundation minimum payouts, promissory note payment, amortization schedules and assistance in tracking the cost basis of investments, or pension and compensation matters. Never fill out another form. Never again be involved in the process of filing returns. But never be in the dark.
My 401k caps my savings at 5% of pay because I earn too much. What can I do?
“The general rule is that workers can put away $18,000 this year is a 401k plan. But if you earn more than $120,000, own more than 5% of your company, or are in the top 20% of earners at the firm, you are considered a highly compensated employee. And if not enough lower-paid workers contribute to the 401k, your contributions can be limited.
There are ways around the limits, though none are easy or realistic says Craig Eissler, a certified financial planner with Halbert Hargrove in Houston. A better solution: Look for other ways to pump up tax-advantage savings, he says. Among them: contributing to a Roth IRA (eligibility phases out once you earn $193,000 as a married couple) or a nondeductible traditional IRA.” –Money Magazine
A Professional at Adeptus who Specializes
in High Net Worth Individuals and Businesses
Managing & Founding Partner, CPA