Industries

High-Net-Worth Individuals

Providing personalized attention and strategies to manage and grow your financial success.

Accounting FOR MORE.

Specialized services for individuals and families

We offer a range of expertise to help you achieve your goals, working as a complement to your team of trusted financial and legal advisors.

  • Roth Conversion Strategies

  • Charitable Giving Strategies

  • Stock Option Planning

  • Qualified Business Income (QBI) Deduction Planning

  • Capital Gain Tax Bracket Planning

  • Life Event Planning

  • Income Tax and Cash Flow Projections

  • Flexible Tax Planning Timeframes

Success Stories

The Problem

A client’s investment advisor emphasized the need to diversify some holdings with significant unrealized gains. Simultaneously, the client wanted to make a large charitable donation, but without strategic tax planning, they risked not maximizing the deduction and facing a higher tax liability.

The Solution

Meadows Urquhart ran tax calculations to ensure the client could fully deduct their $90k charitable donation. We collaborated with the investment advisor to generate additional income through long-term capital gains, which increased the client’s adjusted gross income (AGI) to the necessary level. After the charitable deduction, the remaining taxable income was taxed at a preferential rate of 0% at the federal level. As a result, despite having $204k in AGI, the client’s federal tax liability was reduced to $0 through careful planning and strategic execution.

The Problem

A client approached Meadows Urquhart, asking how to pay for medical expenses using their IRA. The concern was that paying directly from the IRA would increase the client’s income, potentially raising future Medicare premiums.

The Solution

Meadows Urquhart identified that the client also had a brokerage account and a Roth IRA, which could be used to lower their Adjusted Gross Income (AGI). By strategically using a combination of traditional IRA and Roth IRA withdrawals, we were able to reduce the client’s income below the Medicare threshold while keeping it high enough to still recognize the medical expense deduction. This approach helped the client manage both their medical costs and future Medicare premiums effectively.

The Problem

A client contacted Meadows Urquhart after receiving an IRS notice for a previous tax year, a year in which they had prepared their own tax return. The notice claimed the client owed an additional $43k, and they were preparing to sign an installment agreement. Despite initially feeling comfortable with the notice, the client was unaware that the issue involved stock sales, which could complicate the tax calculation.

The Solution

Meadows Urquhart strongly advised the client to allow them to review the notice, given the significant dollar amount and the involvement of stock options. After reviewing the documentation and contacting the IRS, we discovered that the notice was incorrect. Meadows Urquhart was able to resolve the issue over the phone, successfully abating all penalties and interest. As a result, the client’s final tax liability was reduced to only $200.

The Problem

Meadows Urquhart had a client, a doctor, whose income was too high to benefit from the new Qualified Business Income (QBI) deduction introduced under the Tax Cuts and Jobs Act (TCJA). The client had been with his partner, a nurse at his practice with a much lower income, for many years, but they had not yet married. As a result, on his single tax return, he was unable to take advantage of the QBI deduction.

The Solution

Through understanding the client’s family dynamics, Meadows Urquhart identified an opportunity for tax savings if the couple were to file a married return. By combining their incomes, their joint income would fall below the threshold to qualify for the QBI deduction. Meadows Urquhart calculated that getting married in 2018 could save the couple $11k in taxes. This financial incentive encouraged them to set a wedding date for 12/28/18, allowing them to benefit from the deduction that year.

The Problem

Meadows Urquhart received a client referral for a divorcee who had not filed taxes for many years. Her property settlement agreement involved complex financial arrangements, including monthly alimony payments and an interspousal loan related to the settlement of her ex-spouse’s veterinary practice. Without careful review, she faced significant tax liabilities, as her ex-spouse had deducted the full amount of payments, including amounts that should not have been considered taxable income.

The Solution

By thoroughly reviewing her property settlement agreement, Meadows Urquhart discovered that a portion of the monthly payments, meant to repay the inter-spousal loan, was not taxable income. The client had six years of tax returns to file, and the case went to court. The judge ruled in favor of the client, ordering the ex-spouse to amend his returns to reduce his alimony deductions. This adjustment reduced the client’s taxable income and saved her $17k in taxes, along with eliminating years of interest and penalties on the past due tax.

High-Net-Worth Individuals Team

Doug Urquhart, <span>CPA</span>

Doug Urquhart, CPA

Partner

Doug, a problem-solver by nature, brings deep expertise in hedge fund structure and development, guiding entrepreneurs and high-net-worth individuals through data-driven strategies, while also advising U.S. subsidiaries of foreign-owned companies with a personalized, client-focused approach.

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Desiree Lee, <span>CPA</span>

Desiree Lee, CPA

Partner

Desiree specializes in individual and trust taxation for high-net-worth individuals, offering over 18 years of expertise in alternative investments, comprehensive retirement planning, and tax analysis in divorce proceedings, while working closely with financial advisors to deliver tax-efficient solutions.

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Shannon Cook, <span>CPA</span>

Shannon Cook, CPA

Partner

With over 30 years of experience, Shannon specializes in advising high-net-worth individuals in partnership taxation and real estate investment, helping them identify opportunities, overcome challenges, and create tailored strategies to achieve their financial goals with a personalized, hands-on approach.

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Patrick Cureton, <span>CPA</span>

Patrick Cureton, CPA

Director

Specializing in tax planning and compliance for privately held businesses and high-net-worth individuals, Patrick expertly navigates state and local tax complexities, including mergers, acquisitions, and audits, while building strong client relationships.

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