Year-End Tax Strategies for Family Offices

As the end of the year approaches, family offices and high-net-worth families have a valuable opportunity to evaluate tax positions and implement strategic adjustments before December 31. Taking action now can help reduce tax exposure, protect wealth, and avoid avoidable compliance issues as IRS scrutiny continues to increase.

Key priorities for year-end planning include harvesting investment losses to offset gains, maximizing charitable deductions through donor-advised funds, leveraged charitable investment opportunities, or appreciated asset contributions. Other opportunities might include ensuring required minimum distributions are taken where applicable and reviewing estate and gifting strategies while current lifetime exemptions remain at historic highs. Strengthening documentation and family office governance can also prevent future audit risk and support long-term planning.

A proactive review during the final quarter can make a measurable impact on both short-term tax efficiency and multi-generational financial goals. 

Contact Palm Beach Tax Group to schedule your year-end tax review: Roland@palmbeachtaxgroup.com