High Net Worth Individuals and Families
DML differentiates itself by expertly serving high-net-worth individuals with advice relating to taxation, financial management and related areas. DML is on your side with all the resources and experience of a big firm, and the personalized attention of a trusted business partner. We develop and adopt strategies to help you achieve your goals in areas such as wealth creation, wealth preservation, wealth transfer and charitable endeavors. While our high-net-worth services are aimed at maximizing returns while realizing tax efficiencies, each service offering is unique depending on your specific needs.
We are very experienced with formation, operational, and dissolution issues for business entities, especially as they relate to small business owners and family groups. We can assist you in deciding the proper type of entity that suits you, whether it is a partnership, limited liability company, or corporation. We can assist you with practical accounting issues so you are free to focus on your business. We prepare a significant number of tax returns for all types of business entities.
Estates and Trusts
DML advises clients with respect to the overall planning and execution of their estate plan. Our experts skillfully weigh your needs and help to craft a seamless plan for distribution of the family wealth, whether private or charitable. We assist in the adoption of strategies to maximize the transfer of wealth from generation to generation, liability protection and charitable planning. This includes the efficient use of trusts and other sophisticated tax planning strategies.
Real Estate Transactions
Another area in which we work with our clients is the field of real estate transactions. We have a strong background in the various issues that real estate investors face, including cash-flow analyses, tax-free Section 1031 like-kind exchanges, passive loss and at-risk limitations, and capital gain/ordinary income classification.
A number of our clients have significant issues with options. We help our clients understand the tax ramifications of incentive, nonqualified, and employee stock purchase plan options. We also work with restricted stock, restricted stock plans, and concentrated equity positions. Integral to our practice are personal financial planning issues such as proper diversification. The stock option area has posed significant complexities for many people and we have managed to steer our clients through the dangerous pitfalls that can befall even the best educated individuals.
Charitable Planning and Organizations
We work with many of our clients to fund their charitable endeavors in a manner that allows them to maximize their tax benefits and the value of their bequests. Among the issues we consider is the proper funding vehicle, whether it be through outright gifts, charitable trusts, private foundations or donor advised funds. We recognize that each of our clients is different, and we develop the appropriate solution to meet their priorities. We are also very conversant with charitable organization tax issues and have a significant practice dedicated to their specific needs.
Income and Estate Tax Audit Representation
We have significant experience representing clients before the Internal Revenue Service, the Franchise Tax Board, and other taxing authorities. We attempt to resolve these issues quickly and at the lowest possible cost to our clients. We feel that the process actually starts in the tax planning and tax return stages, because taking the appropriate steps at that point serves to limit our clients’ exposure to audits and to audit assessments.