Trusts are often used by business owners and families to protect assets, manage wealth, and ensure a smooth transition across generations. While the legal structure is typically established by an attorney, the tax implications and ongoing reporting require careful coordination.
At Lipsey & Associates, we work with business owners and families to ensure trusts are properly reported, aligned with their overall tax strategy, and integrated into their broader financial picture.
Trusts can serve multiple purposes depending on your goals. For many business owners, they are an important part of long-term planning—especially when significant assets, real estate, or operating businesses are involved.
Our role is focused on tax compliance, reporting, and coordination. We work alongside attorneys and financial advisors to ensure the trust structure is properly reflected in tax filings and ongoing planning.
We also help ensure that trust activity aligns with your broader tax strategy, particularly when business income, real estate, or investment portfolios are involved.
This service is designed for business owners and families who have established trusts or are considering doing so as part of their long-term planning.
We typically work with clients who need ongoing coordination between their trust, personal, and business tax situations—not just one-time filings.
While trust structures vary widely, we most commonly work with:
If you are unsure how your trust is structured or how it impacts your tax situation, we can help clarify and coordinate with your legal advisors.
For business owners, trusts often intersect with ownership structures, succession planning, and long-term tax strategy. These decisions can impact how income is reported, how assets are transferred, and how control is maintained over time.
We help ensure that trust structures are aligned with your business operations and long-term planning goals, so there are no surprises when it comes to tax reporting or ownership transitions.
If you have an existing trust or are considering one, we can help ensure everything is properly aligned and reported.
Request a ConsultationTrust planning often becomes more important as business owners accumulate assets, inherit property, or begin thinking about long-term succession. The details vary from client to client, but these examples show how trusts often intersect with tax reporting, inherited assets, and long-term planning:
A business owner had both operating business income and trust-related activity, creating the need for coordinated tax planning across multiple entities. We helped align the trust reporting with the business and personal return so decisions were made with the full picture in mind.
A business owner can transfer ownership of their company into a trust as part of long-term planning. We can help coordinate how the business income flowed through the trust, ensured proper reporting across the trust and individual return, and aligned the structure with their overall tax strategy.
We have many clients that operate multiple entities, with a trusts involved into the mix. This creates complexity across K-1 reporting, income allocation, and individual tax filings. We work to coordinate the reporting across all entities so the structure remained accurate and manageable year after year.
Business owners cam use trusts as part of a succession plan to transition ownership to the next generation. We would help ensure the tax reporting reflected the ownership changes, coordinate with your other advisors, and support ongoing planning so the transition would not create unintended tax consequences.
If you have a trust, business interests, or multiple entities, it’s important that everything is coordinated—not handled in isolation. We work with business owners and families to ensure tax reporting, planning, and long-term strategy are aligned. Most clients work with us on an ongoing basis, with annual engagements typically starting at $5,000 depending on complexity.
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