Accounting and Consulting
At Barnes Preston Global CPAs P.A, we help individuals and families develop comprehensive wealth strategies that focus on minimizing tax liability, making tax-efficient investments, and securing their future. Whether you’re thinking about retirement planning, estate planning, or finding ways to make the most out of your investments, our team offers the guidance you need to achieve your long-term financial goals.
Personal & Family Wealth Services
We work with you to create a plan that fits your needs and makes you ready for the future. Anything from your estate passes smoothly to your heirs to taking advantage of tax-saving opportunities, we’ve got the expertise to help you build a solid plan.
- Minimizing Tax Liability
We’ll help you identify opportunities to reduce your tax burden, both now and in the future. From structuring your investments to finding tax-efficient solutions, we want you keep more of your money. - Tax-Efficient Investments
We help you make investment decisions that maximize your returns while keeping your taxes low. From tax-advantaged accounts to other strategies, we’ll help you with investment choices. - Estate and Inheritance Tax Strategies
Planning for estate taxes can save your heirs from unexpected costs down the road. We’ll work with you to develop strategies that minimize estate taxes. - Retirement Planning
From starting to save for retirement to looking to adjust your existing plan, we’ll help you make informed decisions for a secure retirement. From retirement accounts to income strategies, we provide personalized retirement planning. - Investment Planning
Our team provides advice on asset allocation, risk management, and diversification, to make sure your investment portfolio is aligned with your long-term financial goals. - Estate Planning
Our estate planning services include everything from will preparation to setting up trusts, so you can rest easy knowing your estate is in order and that your wishes are carried out. - Gift Planning
Gifting is a great way to pass on wealth, but you need to do so in a tax-efficient way. We’ll help you create a gifting strategy that benefits both you and your recipients while minimizing potential tax implications.
Expertise in Global Taxation
Global Network of Professionals
Reliable Tax Solutions
Monday – Friday:
9:00 AM – 5:00 PM
Think Globally, Succeed Everywhere
Barnes Preston Global CPAs P.A.
Leverage our global network to unlock seamless cross-border financial solutions and take your business to the next level.
Trusted Guidance for Your Wealth Planning
- Comprehensive Wealth Strategies
Our team works with you to design a comprehensive plan that covers everything for your current needs and long-term goals. - Clear, Actionable Guidance
We give you actionable advice that you can use to make informed decisions about your wealth, taxes, investments, and future planning. - Personalized Service
We create customized strategies tailored to your unique needs, helping you achieve your wealth planning goals.
- Expertise in Tax-Efficient Solutions
Our team offers expert guidance on how to structure your assets and investments for maximum tax efficiency. - Global Perspective
We understand how cross-border issues impact your planning and provide solutions that work on a global scale. - Proactive Planning for the Future
Our proactive planning approach makes sure that you’re always prepared for the future.
Global Tax Strategies for Wealth
Global Reach, Local Expertise
Planning your family’s wealth isn’t just about securing financial freedom, it’s about ensuring that your wealth is protected and efficiently transferred across generations. From dealing with estate planning, to minimizing taxes, or navigating international tax obligations, it’s important to understand how your wealth will be impacted by U.S. tax laws.
Frequently Asked Questions
How can I reduce estate taxes for my heirs?
- Utilize tax-efficient investment strategies to grow your wealth in ways that minimize estate taxes.
- Set up trusts that can provide estate tax benefits and avoid probate.
- Take advantage of the annual gift tax exclusion to pass wealth on to heirs tax-free.
- Plan charitable donations that may reduce the taxable value of your estate.
What is the difference between a will and a trust?
- A will outlines how your assets should be distributed after your death, but it must go through probate, which can be time-consuming and costly.
- A trust allows you to transfer assets to a trustee who will manage and distribute them according to your wishes, avoiding probate and often offering more control and privacy.
What should be included in my estate plan to ensure my family is taken care of?
- A will to specify how your assets will be distributed.
- Trusts for efficient asset management and avoiding probate.
- Powers of attorney for healthcare and financial decisions in case of incapacity.
- Life insurance to provide for your family and cover estate taxes.
- Clear instructions for guardianship if you have minor children.
How does moving to the U.S. affect my foreign estate and tax planning?
- Moving to the U.S. may subject your worldwide estate to U.S. estate taxes, which are more comprehensive than taxes in many other countries.
- You may need to update your estate plan to comply with U.S. tax laws, including reporting foreign assets and filing requirements like FATCA (Foreign Account Tax Compliance Act).
How do U.S. tax laws impact the inheritance of foreign assets by U.S. beneficiaries?
- U.S. beneficiaries may face U.S. estate tax on foreign assets inherited from a foreign person.
- The IRS requires the reporting of foreign assets on tax returns, and there may be additional reporting obligations, including the Foreign Bank Account Report (FBAR).
What is the Foreign Bank Account Report (FBAR), and do I need to file it?
- The FBAR is a report filed with the U.S. Department of the Treasury for U.S. citizens, residents, and entities with foreign bank accounts exceeding $10,000 in aggregate.
- Failure to file can result in hefty penalties. We can help determine if you need to file and guide you through the process.
What are the U.S. gift and estate tax implications for foreign nationals gifting assets to U.S. residents?
- Foreign nationals may face U.S. gift tax when gifting assets to U.S. residents.
- The U.S. has annual and lifetime gift tax exclusions, but gifts above these limits may be subject to tax.
- We help foreign nationals navigate these rules and develop tax-efficient gifting strategies.
Get in Touch
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Ready to simplify your taxes and optimize your finances? Contact our expert team today!
2929 E Commercial Blvd, Suite 409
Fort Lauderdale, FL 33308
+1 (954) 491-1950
Monday – Thursday:
8:30 AM – 5:00 PM
