Sometimes a parent’s advice can change one’s life. Such was the case when Richard Reed’s father told him, “It’s not just how much money you make, it’s how much money you keep.” This led Richard to a career in finance, accounting and taxes. Today, at Lancaster & Reed, he lives by the sage wisdom his father shared with him. “Tax plays a large role in determining how much money you get to keep,” he says. “With the large government deficits at both federal and state levels, prudent tax planning will only become more important as we look to the future.” The firm services Key Biscayne residents and clients all over the world with a focus on U.S. taxation of foreign trusts, partnerships and corporate interests abroad. Reed is a Licensed CPA in the State of Florida, a member of the Florida Institute of Certified Accountants, a member of the Florida Institute of Certified Public Accountants the Society of Trust and Estate Practitioners (London).
“Our firm provides the experience that smaller firms don’t have and client service larger firms can’t touch.”
It’s always a good idea to review your tax planning in light of new and significant changes in tax law. Tax planning done years ago, such as estate or trust planning, may no longer be as efficient or serve the purpose intended. Given President Trump’s push for tax reform, and a Republican-controlled Congress, significant tax law changes are on the horizon. Review your income and estate tax planning with your tax professional when these changes come into effect to ensure your planning remains relevant and tax-efficient; Lancaster-Reed.com.