WTAS
Encyclopedia
WTAS LLC, founded in 2002 by 25 former public accounting firm partners, is one of the largest independent tax firms in the United States, providing a wide range of tax, valuation, financial advisory and related consulting services to individual and corporate clients across the country. As an independent advisory firm that is not affiliated with an auditing firm, WTAS is not restricted in its ability to provide a full range of tax advisory services to businesses.
As of 2011, WTAS has over 500 personnel located in 14 major cities.
, Andersen announced that HSBC USA, Inc
., through a new subsidiary, Wealth and Tax Advisory Services USA Inc. (WTAS), would purchase a portion of Andersen's tax practice. The new HSBC Private Client Services Group would serve the wealth and tax advisory needs of high net worth individuals.
On December 31, 2007, HSBC USA Inc. has signed an agreement to sell Wealth & Tax Advisory Services USA Inc. (‘WTAS’) to participating WTAS managing directors in a management buy-out. In consideration for the sale, HSBC would receive US $5 million in cash and deferred notes with a principal amount totaling US $60.85 million. Under the agreement, HSBC has an option to acquire 19.9 per cent of the equity of WTAS, subject to certain conditions and dilution as new managing directors join WTAS over time.
Since the HSBC sale, WTAS has dropped “Wealth and Tax Advisory Services” and is now referred to as WTAS LLC.
WTAS is ranked 14th in revenues of the Top 100 Tax Firms according to Accounting Today 2010.
Tax Economics of Charitable Giving
Expert analysis and tax guidance from the resource trusted by professionals for over 40 years. Technically complete, yet written for the lay person as well as the expert advisor to donors, charitable organizations, and fundraisers, Tax Economics of Charitable Giving is full of the practical guidance needed to take advantage of both present and future tax-saving opportunities.
Income Taxation of Fiduciaries and Beneficiaries
Income Taxation of Fiduciaries and Beneficiaries provides step-by-step guidance on the taxation of fiduciary income. This comprehensive guide for practitioners advising fiduciaries and beneficiaries in federal and state income tax matters covers the broad range of complex issues from charitable remainder trusts to nexus rules and their effect.
Sovereign Wealth Funds – A Legal, Tax and Economic Perspective
In Sovereign Wealth Funds, noted international tax lawyer Leonard Schneidman, has assembled an array of essays authored by a global collection of subject area experts designed to explore three key aspects of SWFs: their regulation and governance, investment behavior and taxation.
Private client services
Commercial services
Alternative investment services
As of 2011, WTAS has over 500 personnel located in 14 major cities.
History
In July 2002, in the wake of Arthur Andersen's demiseArthur Andersen
Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms among PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG, providing auditing, tax, and consulting services to large corporations...
, Andersen announced that HSBC USA, Inc
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
., through a new subsidiary, Wealth and Tax Advisory Services USA Inc. (WTAS), would purchase a portion of Andersen's tax practice. The new HSBC Private Client Services Group would serve the wealth and tax advisory needs of high net worth individuals.
On December 31, 2007, HSBC USA Inc. has signed an agreement to sell Wealth & Tax Advisory Services USA Inc. (‘WTAS’) to participating WTAS managing directors in a management buy-out. In consideration for the sale, HSBC would receive US $5 million in cash and deferred notes with a principal amount totaling US $60.85 million. Under the agreement, HSBC has an option to acquire 19.9 per cent of the equity of WTAS, subject to certain conditions and dilution as new managing directors join WTAS over time.
Since the HSBC sale, WTAS has dropped “Wealth and Tax Advisory Services” and is now referred to as WTAS LLC.
Recognition
WTAS is ranked 14th in revenues of the Top 100 Tax Firms according to Accounting Today 2011.WTAS is ranked 14th in revenues of the Top 100 Tax Firms according to Accounting Today 2010.
Technical resources
WTAS managing directors publish key resources that are widely used by tax practitioners.Tax Economics of Charitable Giving
Expert analysis and tax guidance from the resource trusted by professionals for over 40 years. Technically complete, yet written for the lay person as well as the expert advisor to donors, charitable organizations, and fundraisers, Tax Economics of Charitable Giving is full of the practical guidance needed to take advantage of both present and future tax-saving opportunities.
Income Taxation of Fiduciaries and Beneficiaries
Income Taxation of Fiduciaries and Beneficiaries provides step-by-step guidance on the taxation of fiduciary income. This comprehensive guide for practitioners advising fiduciaries and beneficiaries in federal and state income tax matters covers the broad range of complex issues from charitable remainder trusts to nexus rules and their effect.
Sovereign Wealth Funds – A Legal, Tax and Economic Perspective
In Sovereign Wealth Funds, noted international tax lawyer Leonard Schneidman, has assembled an array of essays authored by a global collection of subject area experts designed to explore three key aspects of SWFs: their regulation and governance, investment behavior and taxation.
Clients
WTAS is organized around the following three client groups:Private client services
- Families with multi-generational wealth/family officesFamily officeA family office is a private company that manages investments and trusts for a single wealthy family. The company's financial capital is the family's own wealth, often accumulated over many family generations. Traditional family offices provide personal services such as managing household staff and...
- Closely held business interests
- High-net-worth individuals
- Families with international wealth
- Corporate executives and entrepreneurs
- Private foundationsPrivate foundation (United States)A private foundation is a charitable organization recognized by the US Tax Code at and section 501. It is defined by a negative definition, in other words, it is defined by what it is not...
and charitable trusts
Commercial services
- Large, public companies
- Middle market public companies
- Privately held businessesPrivately held companyA privately held company or close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock to the general public on the stock market exchanges, but rather the...
- Venture-backed companies
Alternative investment services
- Private equity groups and portfolio companies
- Hedge fundsHedge fundA hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
- Venture capitalVenture capitalVenture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
- Real estate