Pennsylvania and Washington Become First U.S States to Tax NFT’S

NFT Taxes by States Pennsylvania’s Department of Revenue inaugurated the change by adding NFTs to its “taxability matrix” without providing any accompanying guidance.  Washington published an interim statement with definitions of key terms and a proposed schema for determining the “sourcing” of NFTs, or where, for tax purposes, related transactions physically take place.  Pennsylvania and Washington became the first states in the nation to explicitly l

Changes Made to British Virgin Islands’ Business Companies Act 2004

New BVI Requirements British Virgin Islands (BVI) published the BVI Business Companies (Amendment) Act, 2022 on August 12, 2022, introducing some significant changes for BVI companies which come into effect beginning January 1, 2023. The new requirements ensure enhanced compliance principles that will observe international standards, and follow an extensive review and consultation with practitioners within the financial services industry. The changes have dire

Individual and Small Business Credits by Inflation Reduction Act

The recently enacted Inflation Reduction Act of 2022 contains several new environment-related tax credits that are of interest to individuals and small businesses. The Act also extends and modifies some preexisting credits. I. Extension, Increase, and Modifications of Nonbusiness Energy Property Credit Before the enactment of the Act, you were allowed a personal credit

Biden Announces Relief to Student Loan Borrowers

Biden Announces Student Loan Relief for Borrowers Earning $125,000 or Less President Joe Biden on August 24 announced a three-part plan to address student loan debt, including forgiveness of up to $20,000 for some borrowers and extension of the repayment freeze a final time, until the end of this year. The first part of the plan would allow $20,000 in debt forgiveness if a taxpayer went to college on

Malta Removed from the FATF Grey List

Malta was recently upgraded by the Financial Action Task Force (FATF) after being taken off the list of Jurisdictions under Increased Monitoring, informally known as the ‘grey list’.  Malta was promoted by the FATF, an inter-governmental body tasked with tackling money laundering by highlighting ways to improve working practices, after the country made a series of changes to its approach to corporate governance.  Malta has acted quickly to fix deficiencies in the fight against tax evasi

Tax Changes in the Inflation Reduction Act

President Biden signed into law the Inflation Reduction Act (the Act), below are highlights of key tax-related changes in the Act. 15% Corporate Alternative Minimum Tax Based on Book Income The current corporate income tax rate is 21% of taxable income, the Act establishes a 15% corporate alternative minimum tax (AMT) on the adjusted financial statement income (AFSI) of applicable corporations, effective for

New York Supreme Court Residency Case

Taxpayer Will not be a NY Resident In Matter of  Nelson Obus, dated June 30, 2022, a New York State appeals court held that an individual domiciled in New Jersey and working in New York City will not be deemed a statutory resident of New York based on limited use of a vacation home located in New York state. Background

SEC Proposes Significant Amendments to Form PF (Private Fund)

Form PF (Private Fund) has been used by private fund advisers to describe required information regarding their fund’s operations. On August 10, 2022, the SEC proposed amendments to Form PF that “are designed to provide greater insight into private funds’ operations and strategies” (see the proposal announcement and accompanying

Tax Loss Harvesting Strategies

Tax Loss Harvesting Current market volatility can present an ideal opportunity regarding Tax Loss Harvesting for hedge funds to realize losses for the benefit of offsetting future capital gains tax, and we at Akram are prepared to help our clients navigate the intimidating tax rules. Breaching tax rules can diminish or negate any potential benefit of realizing short term capital losses, but

BVI Economic Substance Act (ESA) Reporting

BVI Economic Substance Act (ESA) Reporting Scope: The ESA potentially affects new and existing BVI companies (companies incorporated or re-registered under the BVI Business Companies Act, 2004 [the BCA]) and limited partnerships, as well as foreign companies and foreign limited partnerships that are registered in

SALT Cap workaround for S-Corporations and Partnerships

SALT Cap Workaround for S-Corporations and Partnerships New York’s fiscal year 2023 budget contains an opportune provision that permits “resident S corporations” to get larger tax benefits under the state’s Pass-Through Entity Tax (PTET) regime. Under the new rules, beginning with tax year 2022, S corporations in which all sharehol

SEC 2022 Examination Priorities

SEC 2022 Examination Priorities Division of Examinations (the “Division”) of the Securities and Exchange Commission (“SEC”) published its 2022 examination priorities. We have mentioned below all and focus only on the Private Funds and Digital Assets due to interest of our clients:  Private funds;  Emerging Technologies and Cry

SEC Proposes to Enhance Private Fund Investors Protection

The Securities and Exchange Commission (SEC) voted to propose amendments to the Investment Advisers Act of 1940 on February 9, 2022, if adopted, will have a significant impact on private fund managers. Private Fund Advisers will be prohibited from conducti

Cryptocurrency Tax Reporting

The Senate recently passed the Infrastructure Investment and Jobs Act contains significant provisions that expand the scope of cryptocurrency tax reporting. Broker Definition Amended / Expanded IRC Section 6045 would be amended to define a broker as including “any person who is responsi

Infrastructure Bill Passed by the Senate

The Senate on August 10 voted to pass a $1 trillion bipartisan infrastructure bill (H.R. 3684, the INVEST in America Act) that includes $550 billion in new spending on highways, bridges, waterways, transit, airports, the electric grid, and broadband. The Senate bill includes other tax and non-tax offsets, including a new cryptocurrency information reporting requirement that is the subject of ongoing

A Qualified Client Threshold

On August 16, 2021, ” a qualified client threshold” under Rule 205‑3 of the Investment Advisers Act of 1940 (“Advisers Act”) will increase (i) from $1 million to $1.1 million (assets under management test), and (ii) from $2.1 million to $2.2 million (net worth test). Subscription documents for certain private

High Income Taxpayers Should Prepare for Possible Tax Changes?

It is an uncertain time to prepare for any possible changes to the tax code. Tax planning for any proposed changes is challenging due to the uncertainty around which tax provisions will pass. However, the more knowledgeable taxpayers are about the possibilities, the more high-income taxpayers can achieve their tax planning goals and adjust their tax strategy accordingly. Below is a summary of important tax propos

Biden’s Tax Proposals would tax Corporations and High-Income Earners

The US Treasury released a 114-page “Green Book” general explanation of tax proposals included in President Joe Biden’s fiscal year (FY) 2022 budget submission to Congress on May 28, 2021. The President’s budget proposes to increase IRS funding by $1.3 billion to $13.2 billion as part of efforts to collect $778

May 17 is deadline for more than just individual tax returns

Monday, May 17 is the deadline for more than just individual returns. Here is a list of some other May 17 tax deadlines: Individual return extension requests– Extend beyond May 17 by filing Form 4868 or by making an electronic tax payment. Contributions to IRAs and health savings accounts– 2020 contributions to

How to Qualify for Trader Tax Status?

Trader Tax Status (TTS) is not easy to qualify. There is no statutory law with objective tests for trader tax eligibility. Subjective court case law requires a two-part test: Taxpayers’ trading activity must be substantial, regular, frequent, and continuous. A taxpayer must seek to catch swings in daily market movements and p

IRS annouces100% Business Tax Deduction for Food and Beverages

The IRS has provided guidance on tax relief for a tax deduction for food or beverages from restaurants. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 added a temporary exception to the 50% limit on the amount that businesses may deduct for

Hedge Funds New Tax Reporting Requirements

Fund managers should be aware of a number of changes in reporting requirements for the tax year 2020. Funds are required to report each partner’s capital account using a tax basis capital method in accordance with 2020 Partner’s instructions for Schedule K-1(Form 1065) and  Notice 2020-43.

The American Rescue Plan of 2021

President Biden signed the American Rescue Plan Act (“ARPA”) of 2021 on March 11, 2021, a massive $1.9 trillion stimulus package intended to address the extraordinary impact of the coronavirus pandemic.  Important highlights are mentioned below: HIGHLIGHTS: Stimulus payments and additional supplemental unemploy

Selecting the Right Hedge Fund Structure

Importance of Selecting the Right Hedge Fund Structure Selecting the right hedge fund structure requires careful planning and a diligent approach as there are many moving pieces that need to be addressed before accepting outside capital. New operational and regulatory requirements have added complexities and cost to organizing and running a fund vehicle in the U.S. and abroad. Aligning yourself with strong

How are Hedge Funds Taxed?

Hedge funds in addition to venture capital, private equity, and cryptocurrency funds are typically structured as limited partnerships (LPs) or limited liability companies (LLCs). Both LPs and LLCs are taxed as partnerships by default, which means that they are pass-through vehicles for tax purposes. Hedge Funds

Private Investment Fund Audit

Private investment funds are generally subject to annual financial statement audits as a matter of accountability to investors. This audit requirement may be self-imposed by fund management or may exist under federal or state investment advisor regulations. Surprise Examination vs. Private Investment Fund Audit A private investment fund, by definition, will always have “custody” of investor funds

COVID Tax Relief for Individuals and Businesses

Congress used the 2021 governmental funding legislation as the vehicle to pass much needed COVID-19 relief, and more.  Spanning 5593 pages, the mammoth $2.3 trillion legislation contains some $900 billion COVID relief including most popular PPP loans for small businesses. The COVID-related Tax Relief Act of 2020 (COVIDTRA) and the Taxpayer Certainty

Paycheck Protection Program (PPP) Second Draw Loans

Congress has passed its spending bill, the “Consolidated Appropriations Act (CAA), 2021” on December 21, 2020 which includes Additional Coronavirus Response and Relief (ACRR). The President Trump has signaled he will sign the bill. ACRR includes a provision that provides $284 billion for paycheck protection program second draw loans.  Eligibility Criteria for Second Draw PPP Loans

2020 Tax Planning Strategies to Consider

2020 tax planning strategies have been difficult to advise. The COVID-19 pandemic made 2020 a year of uncertainty. To top it off the election results, on January 5, 2021 for run off senate seats in Georgia, may bring future tax changes. Before the close of the tax year there are effective steps to take now to save on your income taxes. These strategies can help for curre

2020 Individual Tax Return Has Been Extended to May 17

The Internal Revenue Service (IRS) announced yesterday that the deadline for filing 2020 individual income tax return has been extended to May 17, 2021 (from April 15, 2021). Taxpayers have more time to apply the tax relief and changes contained in recent stimulus legislation (American Rescue Plan).

SBA Releases Application for Second Round of PPP Loans

The Small Business Administration (SBA) has released an application on January 8, 2021 and clarify how borrowers can qualify and apply for the second round of Paycheck Protection Program (PPP) loans. First-time and second-draw PPP borrowers are eligible for second round of PPP loans if they meet the eligibility requireme

How the IRS Communicates with Taxpayers?

If the IRS does call a taxpayer, it should not be a surprise because the agency will generally send a notice or letter first. Understanding how the IRS communicates can help taxpayers protect themselves from scammers who pretend to be from the IRS with the goal of stealing personal information.

House Ways & Means Approves Reconciliation Bill Tax Increases

House Ways and Means Committee Chairman Richard Neal (D-MA) on September 15 approved its sections of the $3.5 trillion infrastructure bill that mostly addresses social issues and plans to pay for them with tax increases on the wealthy and corporations. Chairman Neal’s tax increase proposals are projected to raise federal revenues by more than $2 trillion over 10 years, according to estimates by Joint Committe

Day Trader Tax Errors

 Day Trader trades complex financial instruments which involve complicated tax rules including wash sales, and mark-to-market (MTM) rules. Here’s a list of the most expensive tax errors made by day traders and their tax preparers.

1256 Contracts Tax Treatment

Do 1256 contracts offer taxpayers favorable tax treatment? Let’s discuss and explore.Define 1256 ContractsA section 1256 contract is defi

New Form PF Requirement & Need For ‘Institutional Readiness’

New Form PF Requirement Underlines The Need For ‘Institutional Readiness’ for Smaller to Mid-Sized Hedge Fund FirmsMuch of the talk in the hedge fund space in the past week or so has revolved around the new SEC rules requiring large hedge funds (thos

Still Plenty of Reasons for Emerging Private Equity Managers To Launch Their First Fund

Many commentators expect private equity to struggle in 2023, at least, compared to the asset class’s historical standards. This year, headwinds such as higher inflation, interest rates, and a slowing economy are expected to take their toll on fundraising activity and portfolio company valuations in the sector.

Is Now the Time To Shine for Venture Capital Risk-Takers?

Last month, I wrote about why I think that there are still good opportunities for emerging private equity managers to launch their first fund, despite the uncertainty facing the industry at the moment. Part of the reason that I think that is because last year we saw plenty of first-timers looking to get off th

Digital Assets Hedge Funds Showing Resilience Despite Numerous Headwinds

The recent banking crisis involving Silicon Valley Bank (SVB), Signature Bank and Silvergate has yet again put digital assets - in particular, the cryptocurrency / hedge fund side of it, as opposed to the blockchain-based venture capital side of it – in the firing line. And just when you thought the fallout from the crisis was beginning to abate, the Economic Report of the President

Why Seeding Might Be An Option Worth Considering For Emerging Private Equity General Partners

Why Seeding Might Be An Option Worth Considering For Emerging Private Equity General Partners Law firm Seward & Kissel published a new report recently that suggests tha

Venture Debt Market Outlook Seems Less Clear At 2023 Halfway Mark

Venture Debt Market Outlook Seems Less Clear At 2023 Halfway Mark Back in early March 2023, I wrote about how I thought that the current economic environment might drive increased activity in the venture d

Encouraging First Half for Crypto Hedge Fund Industry Set To Continue?

Encouraging First Half for Crypto Hedge Fund Industry Set To Continue? It feels like it’s been a bit of an odd first half of the year in the crypto hedge fund industry. At the end of last year, the news cycle was dominated by the collapse of FTX and the subsequent arrest of its founder, Sam Bankman-Fried.

New Audit Requirement 2023 for Private Fund Advisors by SEC

New Audit Requirement 2023 for Private Fund Advisors by SEC

Private Equity Fundraising Outlook Uncertain Amidst Regulatory Challenges

Private Equity Fundraising and Regulatory Challenges One common theme this year in private markets has been that fundraising has been down compared to last year. It’s the same for most alternative asset

Venture Capital Market 2024 Offers Renewed Hope

Venture Capital Market Won’t Miss 2023 But 2024 Offers Renewed Hope2023 will go down as one of the most challenging years of recent times for the venture capital community. As if the macro environment wasn’t challenging enough, there was the situation in March with Silicon Valley Bank that, even for a brief moment, was an existential threat to the entir

Beneficial Ownership Information Reporting Requirement

December 1, 2023Beneficial Ownership Information Reporting Requirement - Corporate Transparency ActStarting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA). The CTA was enacted into law as part of the National Defense Act for Fiscal Year 2021. The CTA requires the disclosure of the beneficial ownership information (otherwise known as “BOI”) of certain entities from p

2023 Year End Financial Plan Checklist

December 1, 2023We have mentioned important points to consider regarding income tax, estate and gift tax, retirement and investment  planning before the year end. INCOME TAX PLANNING•  Harvest capital losses to offset any realized gains or rebalance taxable investment  accounts.•  Consider harvesting any capital gains that can be realized in the 0% tax bracket.•  Review charitable contributions to maximize income tax deductions.               Consider do

Develop a Customized Financial and Tax Plan

Develop a Customized Financial and Tax PlanAs we wrap up 2023, it’s important to take a closer look at your tax and financial plans and  discuss steps to reduce taxes and help you save for your future. With the current political climate, there has been minimal tax legislation. Looking to the future, the potential for change is on the horizon, and we continue to closely monitor any potential tax legislation and update you accordingly.

Considerations for Liquidating a Hedge Fund

Considerations for Liquidating a Hedge Fund No-one wants to liquidate a hedge fund , but it’s an unfortunate reality of the

Getting Ready for Your Annual Fund Audit

Getting Ready for Your Annual Fund Audit Audit Season Essentials: Audit season is upon us, and there are key practices to embrace to navigate your year-end audit smoothly. These

Treasury's Proposal to Apply AML Regulations to Investment Advisers

Treasury's Proposal to Apply AML Regulations to Investment Advisers On Tuesday, February 13, 2024, the Treasury Department's watchdog released proposed regulations aimed at combating corruption. The goal is to make investment advisers comply with anti-money laundering (AML) regulations like those followed by banks. This draft is part

US Court Vacats SEC Private Fund Rule

US Court Ruling: Private Funds Win Exemption from SEC Oversight The United States Court of Appeals for the Fifth Circuit made a significant decision on June 5, 2024, by vacating new rules applicable to advisers to private funds. US Court ruled in favor of National Association of Private Fund Managers

Audit Considerations for Digital Assets

Complexity of Audit Considerations for Digital Assets In today’s fast-evolving digital landscape, the rise of digital assets presents auditors with increasingly complex challenges. As more and more investment entities transition from traditional strategies like long-short equity, fixed income, and commodity trading to more digital asset strategies—such as decen

Digital Assets Tax Planning: Recent IRS Regulations and Safe Harbor Relief

Digital Assets Constructive Tax Planning Opportunities An Analysis of Recent IRS Regulations and Safe Harbor Relief As we approach the year-end, it's important for taxpayers holding digital assets to consider the recent IRS regulation

Role of Various Entities in a Broker-Dealer Audit

The Role of Various Entities in a Broker-Dealer Audit The contemporary evolution of the financial markets can be characterized as complex due to multiple intermediaries and single agencies’ operations for the smooth functioning of the processes and the safety of the clients’ interests. One of the main active agents in these markets is the broker-dealer – an organi

BOI Reporting: Deadlines and Penalties

BOI Reporting: Deadlines and Penalties The United States government has started a new reporting requirement for businesses called Beneficial Ownership Reporting. This requirement requires business owners to provide information relating to the Beneficial Owners of their companies with Fi

Key Updates on the Corporate Transparency Act and Digital Asset Tax

Corporate Transparency Act & Digital Asset Tax As we navigate through the end of the year, let us highlight two timely issues currently making headlines that may significantly impact compliance and financial strategies. 1. Corporate Transparency Act Enforcement Halted by Federal District Court In a landmark decision on December 3, a Federal District Court Judge in the Eastern District of Texas ruled the Corporate Transparency Act (CTA) unconstitutional. This ruling has r

Tax Policy in Review: Implications of a Donald Trump Presidency

Tax Policy in Review: Implications of a Donald Trump Presidency Discover the tax policy implications of Donald Trump's presidency, including key tax reforms, economic outlook, potential offsets for 2025, and the impact on investment funds. This in-depth analysis covers Trump’s tax cuts, corporate tax changes, and long-term fiscal challenges, providing insights into future U.S. tax policy IntroductionShifts of a magnitude US tax policy reform took place between January 2017 and Janu

FinCEN Extends BOI Reporting Deadline to January 13, 2025

FinCEN Extends BOI Reporting Deadline to January 13, 2025 In a recent, crucial announcement for US businesses, the Financial Crimes Enforcement Network (FinCEN) extended the deadline for most reporting companies to submit their Beneficial Ownership Information (BOI) reports until January 13, 2025. The announcement follows a recent ruling in court that reinstate

Cash Flow Reporting: Key Criteria for Investment Companies

Cash Flow Reporting: Key Criteria for Investment Companies For investment companies, the Statement of Cash Flows is not always a requirement in financial reporting, however there are situations and conditions, when it becomes a crucial component of their semi-annual and annual reports. Statement of Cashflows, tracks the movement of cash within a company across operating, investing, and financing activities, it also provides essential insights into a company’s liquidity, financial h

Successful Financial Audit 2024 Checklist

Successful Financial Audit 2024    Ultimate Guide, Checklist & Tips With the third quarter of the year quickly approaching, it is time to begin looking at what your company’s next financial audit will entail. These financial audits play a pivotal role in providing assurance to the users of the financial statements about the true and fair view of the financial position of the company. Yes, auditing may seem challenging, but instead look at it as a necessary part of your business, a ‘healt

Supreme Court Clears Path for BOI Reporting—But Legal Hurdles Remain

Supreme Court Clears Path for BOI Reporting—But Legal Hurdles Remain In a significant development for businesses, the U.S. Financial Crimes Enforcement Network (FinCEN) confirmed on Friday that companies covered by the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) reporting requirements will not need to file their reports while a nationwide injunction remains in effect. The decision stems from legal challenges to the CTA’s implementation, with one

Navigating New York's 2025 PTET Election Deadline

Navigating New York's 2025 PTET Election Deadline As the 2025 deadline for New York's Pass-Through Entity Tax (PTET) elections approaches, businesses must take the necessary steps to prepare for their tax obligations. New York is one of the few states requiring PTET elections to be made in the year before a business files tax returns. This means that all businesses opting into the New York State (NYS) and New York City (NYC) PTET regimes for 2025 must make their elections by March 15, 2025,

US Court Lifts Injunction on Corporate Transparency Act (CTA)

US Court Lifts Injunction–Restored BOI Reporting  On February 18, 2025, the U.S. District Court for the Eastern District of Texas lifted the temporary hold on the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) reporting requirements. With this ruling, the enforcement of the CTA is back in full force, meaning businesses must comply with its reporting mandates. The Financial Crimes Enforcement Network (FinCEN) has also extended the

The Carried Interest Fairness Act and Its Potential Impact

The Carried Interest Fairness Act 2025 The Carried Interest Fairness Act is set to be one of the most significant legislative proposals in the 2025 tax landscape, particularly for professionals in the alternative investment funds industry. This bill proposes a change in how carried interest, a key component of compensation for investment managers, is taxed. If enacted, it would fundamentally alter the favorable tax treatment of

FinCEN’s Interim Rule Exempts U.S. Companies from BOI Reporting Under CTA

FinCEN’s Interim Final Rule Relieves U.S. Companies of BOI  On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA). This new ruling brings significant changes

The GENIUS Act: Comprehensive Stablecoin Regulation in the U.S.

A Pivotal Step Toward Comprehensive US Stablecoin Regulation In a landmark move aimed at securing the future of digital currency in the United States, Senators Tim Scott, Bill Hagerty, Cynthia Lummis, and Kirsten Gillibrand introduced the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act on February 4, 2025. This bipartisan legislation marks a critical step in the ongoing effort to create a robust regulatory framework for stablecoins, a rapidly growing segment of

Impact of President Trump’s April 2025 Reciprocal Tariffs Policy

The Impact of President Trump’s April 2025 Reciprocal Tariffs Policy On April 2, 2025, President Trump signed an executive order establishing a landmark "Reciprocal Tariffs" policy, reshaping the U.S.'s international trade landscape. The new policy introduces a baseline tariff on all imports, effective at 12:01 a.m. EDT on Saturday, April 5, 2025, followed by country-specific tariffs beginn

Guide for Alternative Investment Funds

What to Look for in a CPA Firm as the Accounting Industry Consolidates The acco

SEC Guidance for Broker-Dealers and Transfer Agents

SEC Issues Key Guidance Easing Crypto Asset Rules for Broker-Dealers and Transfer Agents May 27, 2025

What the “Big Beautiful Bill” Means for You

What the “Big Beautiful Bill” Means for You?Key Tax Changes to Know Now On July 4th, President Trump signed into law H.R. 1 – the Big Beautiful Bill Act (“BBB”), a landmark piece of tax legislation that introduces significant changes to the Internal Revenue Code. Building upon—and in many cases, making permanent—the provisions introduced under the 2017 Tax Cuts and Jobs Act (TCJA), the BBB is set to imp

Decoding the SEC’s Bold New Crypto Regulatory Framework

Decoding the SEC’s Bold New Crypto Regulatory FrameworkThe digital asset space is advancing at a breakneck pace, and the regulatory landscape in the United States has been shifting just as rapidly. With 2024 and 2025 marking significant milestones in crypto regulation, Akram Assurance Advisory & Tax is committed to helping clients

IRS Phases Out Paper Refund Checks for Individuals

The End of Paper Refunds: What Fund Managers & Investors Need to Know Effective September 30, 2025, the IRS will no longer issue paper refund checks to individual taxpayers. Instead, refunds will be delivered exclusively through direct deposit into verified bank accounts. This transition is part of the IRS’s broader initiative to modernize payments, reduce fraud, and streamline efficiency. But beyond the headlines, it carries important implications for fund managers, in

Audit & Assurance

#styleTitle { background-image: url(https://www.aifundservices.com/images/AllThreeGals.jpg) !important; background-position: center 20%;} Award-Winning Hedge Fund Auditor Akram, a hedge fund auditor, specializes in providing individualized, custom audit and assurance services to onshore and offshore hedge funds in a cost effective and reliable manner. Akram is trusted to provide timely services that exceed professi

Consulting Services

Akram Provides Expert Business Consulting Services Akram provides customized business accounting solutions. As a business owner, dealing with your day-to-day accounting needs can be a drain on your morale. We will guide you through accounting and taxes. You can focus on the many other demands of running your business and building your wealth. Akram Is Your Trusted Business Partner We work within a variety of industries and with a wide rang

Tax Services

Akram Provides Expert Tax Solutions Across the Spectrum of AI Funds At Akram, we provide high-end accounting services for the financially savvy, especially clients in the Alternative Investments industry. Hedge fund, venture capital, and private equity managers, investors, traders, family offices and high net-worth individuals are the cornerstone of our business. Our clients have unique challenges and are exceptionally prudent. We aim to meet their high e

Cryptocurrency Audit

Gain Confidence With Our Detailed Cryptocurrency Audits As cryptocurrency grows in popularity and investment managers add the asset class to their portfolios, the importance of verifying the existence and value of crypto-assets through an audit becomes integral to attracting new fund investors. Our team has performed cryptocurrency audits for multiple funds. We have the professional experience to conduct an audit that instills confidence in fund managers and

Surprise Custody Audit

Be Prepared for a Surprise Custody Examination The custody rule requires an adviser that has custody of client assets to maintain those assets with a "qualified custodian", and to have a reasonable basis for believing the custodian sends quarterly account statements directly to the clients. SEC Custody Rule Amendments The SEC adopted amendments to the custody rule for Investment Adviser client fund or securities. Thes

Audits, Reviews & Compilations

Audits, Reviews & Compilations Stockholders, creditors, and private investors often need assurance that the financial statements accurately represent the true financial position of a company.  Your stockholders, creditors, or private investors have different levels of risk tolerance. So we provide three levels of assurance to meet your needs.

SOC Audit

System and Organization Controls (SOC) Audit Services Comprehensive SOC 1, SOC 2, and SOC 3 Reporting for Service Organizations. What Is a SOC Audit System and Organization Controls (SOC) audits are independent examinations designed to help service organizations demonstrate the strength of their internal controls, data security, and compliance with regulatory standards. Whether your business handles sensitive financial data, provides IT services, or

SOC Reports FAQs

SOC Reports FAQs What Types of Companies Need SOC Reports? Service organizations provide services to “user entities”, for which these services are likely to be relevant to these user entities’ internal control for financial reporting. Generally, service organizations are required to conduct a SOC examination to obtain a recognized level of assurance on their internal controls. They could be: Software as a

Financial Statement Preparation

Financial Statement Preparation Did you know that, per the SEC and as noted by the PCAOB, your auditor cannot physically produce Fund financial statements? In addition to financial statement and footnote preparation, traditional services such as typing, word-processing and printing of financial statements may violate your auditor's independence*. *Per the

Business Valuation

Business Valuation Services by Akram Business valuation is impacted by a multitude of factors such as the subject company’s industry, its stage of development and the source of the invested capital. Additionally, the variety of purposes for which business valuations are performed, the influence of local jurisdictional rules and available valuation methods further increase the complexity of business valuation. It is this complexity that has driven Akram to assemble a

Forensic Accounting

Forensic Accounting Ask yourself these questions: Do you worry that you or your business might be the victim of fraud? Do you need to analyze your financial data to uncover potential misconduct? Are you investigating an entity for possible acquisition and need to ensure the absence of financial irregularities? Maybe you're involved in li

Business Implications of IFRS Guidance

IFRS Implications for Foreign Companies Is your understanding of International Financial Reporting Standards (IFRS) fully joined up? Akram can guide you through the business implications of IFRS. Over 100 countries now use International Financial Reporting Standards, a number that is set to rise to around 150 countries over the next five years. If you are an ambitious, internationally-active growing organization with plans to expand into overseas markets, you need preci

Litigation Support Service

Litigation Support In today's world of increasingly complex litigation, you simply cannot do it alone. Let's face it, your probability of a success increases when you have the expertise of an experienced "court savvy" Certified Public Accountant on your side. With Akram, you get a different point of view, guidance pointing your legal team in the right direction, consultation on the most effective documents to use, important q

New Business Formation

New Business Formation Opening your own business can be thrilling. A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. There are many factors to consider, from business type to tax implications. Our team the background and expertise to help you make your decision. We will help you form your business and avoid the common pitfalls that many new small business owners encounter when starting thei

Bank Financing

Akram Will Help You Secure Bank Financing  Requesting a business loan without adequate preparation sends a clear message to the lender: High risk! Therefore, it pays to be prepared and organized in your approach to financing. Put your best foot forward by allowing Akram to prepare a winning loan proposal for you. Our proposals have a high likelihood of success because they are created from the lender's perspective. You get the money you need, because we

Strategic Business Planning

Clarify Your Company's Direction A Strategic Business Plan is much more than a tool to obtain financing. Preparing a strategic plan can help you clarify your company's direction. It can ensure that your key leaders are all on the same page, and it keeps both management and staff focused on the tasks at hand. A Strategic Plan is often needed when: Starting

Business Succession Planning

Succession Planning If you own a family business, retirement isn't simply a matter of deciding not to go into the office anymore. You've got some critical questions to answer like... What happens to the business when you're no longer running it?  Will you have enough money to retire? Family dynamics complicate the transition because of the relationships and emotions invo

Cash Management Services

Internal Control Service for Business

Internal Controls Evaluation Service At times you may need a trained outside professional to evaluate your company's operations. Akram |

Small Businesses Accounting in Cary, NC

You Need an Accounting Team You Can Trust Your business success depends on the strength and reliability of your finances. That's why you need the expert accounting team at Akram to do what you need the right way. At Akram CPA Firm, our experienced CPAs work side-by-side with you. Our dedicated team builds a partner-like relationship with you and offers a wealth of proven accounting services. From managing your weekly accounting to mapping out the company's future th

Tax Services in Cary

Akram Provides Expert Tax Accounting Services in the Triangle Taxes are complicated under any circumstances, and it is essential that they are handled properly when you have important investments or large net worth. Our professional accountants in Cary can help you navigate your taxes and

Tax Services in NYC

Our CPAs in NYC Provide Expert Tax Accounting Services Our NYC Certified Public Accountants (CPAs) provide expert tax services to fund managers, traders, family offices and the ultra wealthy. Taxes are complex in any circumstance, and when you have significant investments or a high net worth, it's imperative that taxes are handled meticulously and with expert skill.

Tax Services in Newport Beach

Tax Services in Newport Beach Our Certified Public Accountants (CPAs) provide tax services in Newport Beach and Orange County, CA  for fund managers, family offices and the ultra wealthy. Taxes are complex in any circumstance, and when you have significant investments or a high net-worth, it's imperative that they're handled correctly. We have decades of experience helping clients with nuanced tax situations and strict requirements to navigate their taxes w

Tax Services in Singapore

US Expat Tax Services in Singapore Living abroad can be incredibly satisfying, but it also adds extra complexities to your tax filing. Rather than trying on your own to sort out the many variables determining what you owe, put your expatriate taxes in the hands of our experienced accountants. We can file your federal income tax returns (and state, if applicable), as well as small business tax return

Tax Preparation

Maximize Your Savings Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government's General Accounting Office, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer. Whether we like it or not, today's tax laws are so complicated that filing a relatively simple retu

Cryptocurrency Tax Services

Tax Services for Digital and Virtual Currency Transactions The rise of cryptocurrencies such as Bitcoin, Ethereum, Binance Coin, and Dogecoin presents many challenges for businesses. Among them are finding a CPA or tax preparation and accounting firm that is knowledgeable - and experienced - in taxation issues, and laws and regulations are constantly evolving.   Taxation of Digital and Virtual Currency  Cryptocurrency is a form of digital or virtual p

Tax Planning in Cary

Tax Planning Maximizes Your After-Tax Income  Tax planning is the key to successfully and legally reducing your tax liability. Our CPAs go beyond tax compliance by proactively recommending tax planning strategies (PDF) to maximize your after-tax income. We make it a priority to enhance our mastery of the current tax law, complex tax code, and new tax regulations by attending freque

Expatriate Tax Services

Tax Services for Expatriates If you're planning a move abroad, or you're already an expatriate, you have more to think about than adjusting to a new culture. Although it may be tempting, you must not ignore your U.S. taxes. Every U.S. citizen - regardless of whether they are living in the U.S. - must file a tax return with the federal government. The tax situation for expatriates is often complicated and frustrating. Many variables affect how much expatr

FBAR in Cary

Foreign Bank and Financial Accounts Report (FBAR) in Cary Do you know if you have any foreign accounts with an aggregate value higher than $10,000 at any time during the calendar year? U.S. taxpayers (including individuals and business entities) are required to report on foreign assets or investments they hold in offshore accounts. Under the Bank Secrecy Act, you may be required to e-file what is known as Foreign Bank and Financial Accounts Report (FBAR) directly with the Financial Crimes

FBAR in NYC

FBAR in New York City (NYC) Do you know if you have any foreign accounts with an aggregate value higher than $10,000 at any time during the calendar year? Bank Secrecy Act U.S. taxpayers are required to report on foreign assets or investments they hold in offshore accounts. Under the Bank Secrecy Act, you may be required to e-file what is known as Foreign Bank and Financial Accounts Report (FBAR) directly with the Financial Crimes Enforcement Network (FinCEN), a bureau of

Part-Time CFO Services

Part-Time CFO Services  Growing businesses often reach a point where they need professional financial advice, but they can't afford a full-time CFO or controller. Experienced CFO Services at a Fraction of the Cost If you're fortunate enough to be in this position, we have the perfect solution for you. Our Part-Time CFO Service provides you with a professional financial manager who works with you to help guide your business to success. Th

Tax Problems With IRS

Tax Problems With the IRS? If you owe the IRS, you have a serious problem. IRS problems do not go away by themselves - they grow more and more costly with penalties and interest that accumulate each day. It may take the IRS several years to catch up to you, but once the collection process starts, they will make your life miserable. Fortunately for you, Akram & Associates can help you resolve your tax issues and put an end to your IRS misery. We pride ourselves o

IRS Representation

IRS Representation Nothing strikes fear in the hearts of people more than receiving an IRS Audit letter in the mail. Have you recieved an audit letter from IRS? Audits take significant time away from your business and family, requiring you to gather mounds of records substantiating each and every item reported on your tax return. You must develop a comprehensive understanding of tax law. The IRS leaves no stone unturned in its mission to determine the

IRS Non-Filed Returns

We Give You Peace of Mind Every day the massive computer center at the IRS is getting more sophisticated. It's just a matter of time before they catch up with those who have not filed their tax returns. This is not a situation to take lightly. Failing to file your tax returns is a criminal offense. Failing to file your taxes can lead to prosecution and potential jail time, one year for each year not filed. Why risk potentially losing your freedom for failing to file

IRS Back Taxes Owed

IRS Back Taxes Owed You have filed your returns but didn't have the money to pay what was owed. You may think, "Oh well---I will catch up next year." Before you know it, you find yourself several years in arrears. IRS Tax Notice Suddenly there is a notice from the IRS, stating that you owe three or four times the original amount. It's truly amazing how fast tax penalties and interest add up on back taxes

IRS Tax Penalties

Tax Penalty Abatements: Reasonable Cause Factors My clients often get frustrated and take it personally when they receive a tax penalty from the IRS on top of their balance due. Tax penalties can substantially increase a balance that is owed to the IRS (coupled with the interest on top of those penalties) and turn a relatively small balance into a much larger one. Furthermore, the IRS takes a hard and fast approach when assessing tax penalties and will often assess the pena

IRS Payroll Tax Problems

IRS Payroll Tax Problems The IRS views failure to pay payroll taxes as the cardinal sin of tax delinquency, because a large portion of the payroll taxes are your employees' withholdings. Not paying your company's payroll taxes is tantamount to stealing your employees' money. As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time are much more severe than other types of penalties. The amount you

IRS Tax Liens

IRS Tax Liens Federal Tax Liens can really make your life miserable. When your taxes are not paid, the IRS establishes a lien against all of your assets (especially real estate). This gives the IRS the legal right to collect taxes from the sale of your assets, which includes just about everything you own. The lien can be against you, your spouse, or your company. A lien against your company would seize your accounts receivables. At this point e

IRS Tax Levies

IRS Tax Levies A levy is the IRS's way of getting your immediate attention. What they are saying is, "We have tried to communicate with you, but you have ignored us."  Levies are used to seize your wages and whatever other assets you have. If you own it, they can take it. That includes checking accounts, autos, stocks, bonds, boats, paychecks, and even Social Security checks.  Imagine waking up one morning and fi

IRS Offer In Compromise

IRS Offer in Compromise Did you know that you can settle your debt with the IRS for just pennies on the dollar with their Offer in Compromise program? The program allows taxpayers to settle with the IRS on tax debt that has been incorrectly assessed or for liabilities they cannot afford to pay. The IRS Code states: "We will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably refl

IRS Payment Plan

IRS Payment Plan If you don't qualify for the IRS Offer In Compromise program, a Payment Plan may be the way to resolve your problem. Setting up a payment plan with the IRS gives you a little more time to pay off your tax debts. Unfortunately, penalties and interest will continue to be charged on your outstanding balance as you pay the debt off. You are required by law to pay the interest on your tax debt. Con

IRS Tax Bankruptcy Solution

IRS Tax Bankruptcy Solution Your back taxes, interest and penalties can be wiped out by filing bankruptcy. If you qualify, bankruptcy can be the best solution to resolve your crushing tax problems. Pre-Bankruptcy Planning Proper pre-bankruptcy planning is key to determining if bankruptcy is or can be a viable solution. Unfortunately, not everyone qualifies t

IRS Seizures

IRS Tax Seizures Unlike the levy, which involves intangible assets such as your bank account, a seizure is the taking of physical assets, such as your home or car. Seizures usually happen in aggravated cases when someone ignores many requests by the IRS over a long period of time to pay their outstanding taxes.  IRS Seizes Your Assets A seizure should not be taken lightly. The IRS will ultimately pursue seizure of your physical assets. Don't think they

IRS Spouse Relief

Innocent Spouse Relief by IRS Innocent Spouse Relief was designed to alleviate unjust situations where one spouse was clearly the victim of fraud perpetrated by their spouse or ex-spouse. Are You the Victim of Fraud Perpetrated by Your Spouse? Did you know that you can get out of the tax debt due to the misdeeds or fraud committed by your spouse?  Contact Akram if Your Spouse Committed Fraud 

Get Your IRS File

What Does the IRS Know About You? Did you know that you can obtain a copy of your IRS file? Most people would be surprised to learn how much the IRS knows about them. Obtaining a copy of your IRS file is critical in analyzing the options available to resolve your tax problems. Requesting copies of your IRS file is best done by a professional who understands how to obtain them without raising any red flags.Additionally, a knowledgeable professio

Not For Profit Organizations

Not For Profit Organization Services We can help you set up and maintain your not for profit  organization's tax-exempt status by handling all the IRS reporting for you. Nonprofits will often require audits in their bylaws, even when they are not required by a grantor to have an audit. Not-for-profits are under greater scrutiny and require transparency and accountability more than ever. Our Certified Public Accounting firm offers audits of nonprofits including

Mergers & Acquistions (M&A) Advisory

Akram Provides Mergers & Acquistions (M&A) Advisory Mergers & Acquistions (M&A) Advisory requires authentic and dedicated team to perform all operations precisely. Our clients enjoy the personalized focus of a full-service organization with access to build intellectual capital, extensive relationships to plan growth strategies that fit buy-side M&A needs.  We are one of the main professional consulting organizations that offers dedicated multidisciplinary M&A advisory capabilities. From strat

Technology Business Services

Technology Business Services Akram Assurance & Advisory empowers your business with IT-led Business Intelligence (BI) services. After remarkable succe

The Akram Brief

The Akram Brief Alternative Investments Blog  Encouraging First Half for Crypto Hedge Fund Industry Set To Continue?

Webinars

Don't add webinars here, use direct options to add webinars How to Value Illiquid Level 3 Investments

CPE Courses For Employees

Continuing Professional Education (CPE) Courses  Akram is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of Continuing Professional Education (CPE) for group training on the National Registry of CPE Sponsors. NASBA CPE Credits NASBA CPE Credits are made available and awarded for Akram group training that complies with the

Tax Center

Resources to Make Tax Time Easier Akram provides several convenient resources to help our clients manage their taxes. Get Ready for 2021 Tax Season Now You may download our Year-End Tax Planning for 2021 Brochure 

Online Payment

Safe, Secure and Convenient Akram & Associates is pleased to offer the security and ease of payment options that fit your needs. We have joined the PayPal network, one of the leading payment services on the internet today. Start Credit Card Payment Process You will be taken to PayPal to securely make your payment. 

Covid-19 Tax Updates

Akram Is Keeping Track of the Latest Covid-19 Regulations As the U.S. federal, state, and local governments are implementing emergency measures to support their economies amid coronavirus (COVID-19), Akram & Associates is staying on top of the latest tax policy developments to better inform our clients.  We have been regularly sending updates via our blog, The Akram Brief. Below is a list of articles specific to Covid-19 developments.&n

Downloadable Brochures

Resources for Professionals in the Alternative Investments Industry Akram & Associates provides helpful documents for professionals in the Alternative Investments industry. Articles range in topics from Hedge Fund Structuring to Audit & Assurance charts. Akram is committed to staying on top of the latest regulations, so content is added periodically.  Select a link to download the PDF:

Events & Conferences

Highlights of This Year's List of Events & Conferences Every year Akram | Assurance, Advisory & Tax sponsors various industry events across the country. Our firm is constantly working to stay on top of the latest regulations and best practices in these industries. We enjoy networking with colleagues and discussing the engaging topics industry leaders present. We sponsor and attend these events in order to hear directly from clients regarding their top concerns in the ever-evolving

Current Clients

Online Payment Akram is excited to bring you a secure and user-friendly way to handle your bill payments. Choose from PayPal or debit/credit card options. Enjoy the hassle-free experience of quick and easy invoice payments. Make an Online Payment Access Your Akram Account If you are a client of Akram

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Track Your Refund

When Can You Expect Your Tax Refund? The answer depends on how you filed your return. The IRS should issue your refund check within six to eight weeks of filing a paper return. If you chose to receive your refund through direct deposit, you should receive it within a week. If you use e-file, your refund should be issued between two and three weeks.     C

Tax Due Dates

Stay on Schedule Mark your calendar using this easy reference material. Below are the upcoming tax due dates to comply with Federal and State tax laws. January 2023

Tax Rates

Tax Rates

IRS Tax Forms and Publications

IRS Tax Forms and Publications The IRS website is a valuable resource when searching for specific forms and publications. For your convenience, Akram provides links to the publications listed below, which are all located on the IRS Web site and require Adobe Acrobat Reader to view. Visit the

Record Retention Guide

Storing Tax Records: How long is long enough? Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time. However, if the IRS believes you have significantly underreported your income (by 25 percent or more), or believes there may be indication of fraud, it may go back six years in an audit. To be s

State Tax Forms

State Tax Forms Easy Acces

Register Webinars

Upcoming Webinars in Collaboration with NASBA Unlock the future of the alternative investments industry with our NASBA-approved webinars, Designed for fund managers, advisors, and finance professionals, these sessions explore cutting-edge trends, regulatory shifts, and the transformative role of AI in private equity, hedge funds, and real assets. Earn CPE credits while gaining actionable insights to stay competitive in today’s evolving investment landscape. Register now to reserve your spo

Hedge Funds

Award Winner Hedge Fund Auditor & Trusted Adviser to the Alternative Investments Industry Alternative Fund Managers are the cornerstone of our business. Our laser focus on this niche industry allows us to provide specialized accounting, audit and tax services that are accurate and affordable. Our team of seasoned accounting professionals is well versed in the nuances of: Hedge Funds

Insurance Dedicated Funds (IDFs)

What Is an Insurance Dedicated Fund (IDF)? Insurance Dedicated Fund (IDFs) are hedge funds  linked to a variable annuity or life insurance policies. The structure of an IDF allows for taxable investors to invest in hedge funds through insurance carriers on a tax-deferred or tax-free basis through Private Placement Life Insurance (“PPLI”) or Private Placement Annuities (“PPVA”). Unlike

Private Equity Fund Auditor

Award Winning Private Equity Fund Auditor As your Private Equity Fund Auditor, Akram Team realizes the significance of trust, transparency, and accountability when it comes to your private equity fund’s investments. That's why all emphasis is on the safeguarding of investors’ interests and ensuring the integrity of Private Equity Fund’s financial statements. A private equity fund auditor analyses the fund's financial statements for accuracy and compliance with accounting s

Privately Held Business

Akram Provides the Ideal Blend of Services Private Businesses Need Closely-held businesses face unique concerns and accounting requirements that differ from those encountered by larger companies. Often, the finances of the business and the family are highly entwined and the business typically represents a large share of the family’s wealth and future security. It’s essential that you work with a CPA that understands the importance of those relationships and the uni

Foundations & Non Profits

Let Akram Handle the IRS Reporting so You Can Focus on Philanthropy Nonprofits will often require audits in their bylaws, even when they are not required by a grantor to have an audit. Not-for-profits are under greater scrutiny and require transparency and accountability more than ever.  Akram’st Certified Public Accounting f

High Net Worth Individuals

Akram Exceeds the High Expectations of High Net Worth Individuals  We understand that our high net worth (HNW) individual clients have unique challenges and high expectations. Akram helps our clients meet their unique challenges and high expectations by staying ahead of ever-changing tax codes that affect their ability to protect and grow their wealth. Akram provides our high net worth clients peace of mind. We offer carefully tailored planning and exceptionally responsive comm

Hedge Fund Accounting Firm

Akram Specializes in Hedge Fund Audit With Akram’s niche focus, you can count on our Hedge Fund Auditors to serve as a trusted and reliable partner when launching your fund vehicle. Audit & Assurance Services Highlights Akram provides audits services by following generally accepted accounting principles,

Hedge Fund Taxes

Hedge Fund Tax Returns and K-1s Akram takes pride in being a trusted resource to our alternative investment fund clients providing professional Net Asset Value (NAV) review and timely Schedule K-1 (“K1”) preparation services. Our extensive industry knowledge and industry-specific tax software help to reduce tax reporting errors and deliver high quality documents in a timely and accurate ma

Trader vs Investor

What’s Your Strategy: Short-Term or Long-Term Investing? Trader vs. Investor Taxpayers who buy and sell securities generally will qualify as either an investor or a trader for tax purposes. The distinction between trader and investor is important because tax rules are generally more favorable f

Private Investment Fund Types

Investment Fund Types There are two main types of Funds. Whether in the United States or Offshore, Akram specializes in providing tailored audit and assurance services to Hedge Funds both cost-effectively and with outstanding results. Domestic (US)  Alternative Investment Funds A hedge fund or other alternative investment product can be formed as a single U.S. domestic fund, as a single of

US and Offshore Fund Structures

Investment Fund Structures Alternative investment manager can launch a fund using structures such as a master-feeder structure, a side-by-side structure, along with side pockets and different share classes depending on the type and residence of the prospective investors.  Master-Feeder The master-feeder structure is a combined hedge fund structure in which the domestic and offshore funds feed into a single onshore/offshore mas

Partnership Representative

Partnership Representative The IRS requires partnerships to designate a Partnership Representative, which replaces the Tax Matters Partner, to communicate on behalf of the partnership or Fund in the case of an audit. Ready for the New Partnership Audit Rules?

Tax Preparation for Day Traders

Are You Eligible for Trader Tax Status? Trader tax status (TTS) unlocks meaningful tax benefits for active or day traders who qualify. Our Certified Public Accountants (CPAs) can help you determine your eligibility.

Qualified Opportunity Funds

Qualified Opportunity Fund Tax Compliance TCJA established the Qualified Opportunity Zone program to provide a tax incentive for private, long term investment in economically distressed communities. Investors are given an opportunity to defer and potentially reduce tax on recognized capital gains. If you owe taxes due to capital gains, investing in a qualified Opportunity Zone fund may be good idea to explore further. What is an Opportunity Zone and a Qualified Oppo

Estate & Trust Tax Services

Start Planning for the Future Today Estate and trust tax preparation and planning are an important part of managing your financial future -- and it’s not just for the one percent; it’s important for everyone -- especially if you have a spouse or children or own a business. Estate and Trust Tax Preparation Preserve and Enhance Your Financial Legacy As your trusted advisor, we help you develop an estate and trust plan that protects wealth and

Estate & Trust Planning

Trust Akram to Provide Peace of Mind Estate planning on your own can be complicated and costly. The list is endless - state taxes, bureaucracy, probate courts, unfair appraisals, health care concerns, eligibility of heirs, life insurance, IRA's, 401K's, annuities, burial or cremation costs, and intent regarding death-postponing treatment to name a few. Not knowing your legal and financial rights often ends up costing you more in the end. Please download ou

Charitable Remainder Trust

How a Charitable Remainder Trust Works A charitable remainder trust (CRT) is an irrevocable trust that generates a potential income stream for you, as the donor to the CRT, or other beneficiaries, with the remainder of the donated assets going to your favorite charity or charities. This charitable giving strategy generates income and can enable you to pursue your philanthropic goals while also helping provide for living expenses. Charitable trusts can offer fle

Personal Financial Planning

Grow & Preserve Your Wealth Building and preserving your personal wealth requires specialized attention. You get one-on-one guidance and a comprehensive financial plan that helps manage risk, improve performance, and ensure the growth and longevity of your wealth. Preserve your wealth for retirement by identifying your retirement needs, analyzing your assets and sources of retirement income, reviewing estimated short

Retirement Planning

You Need an Expert to Guide You on Your Retirement Journey It's never too early, or too late, to start thinking about retirement planning. Even wealthy people worry about the uncertainty of retirement.  Some of the benefits of starting your retirement planning now include: Providing long-term security for your family's future Tax-free contributions - Pre-tax contributions are subjec

IRA Advisory Services

IRA Advisory Services  You’re ready to start building funds for your retirement, and Individual Retirement Accounts (IRAs) are designed to help you do that. However, there are several options for IRAs, and it may be difficult to discern which one would work for you. Before you start putting money into an IRA plan, you need someone who can help you identify which plan meets your needs, how much to put in, and when to start withdrawing. 

Education Planning

Building a Future Begins Today Higher education can be the key that opens doors to a brighter, more fulfilling future. You want to help prepare this future for those important to you, but you may not be sure where to start. At Akram, we have the tools and experience to help you do it right. Our experienced advisors help you determine your saving goal, and what it takes to get there, so you can be confident in your plan. Comprehensive Services for Education Fundi

Annuities

Annuities  Today’s longer life expectancy is certainly worth celebrating, but it can pose a challenge when it comes to retirement planning. With an increasing span of retirement years and the potential for unexpected expenses, it may seem difficult to save up enough money to meet all your needs. For some, the answer to this predicament is an annuity. We help you to navigate annuities and choose the best option for working toward the financial security of your future.

Wash Sales Tax Rules

Wash Sales Rules What is a Wash Sale? Section 1091 of IRC defines wash sales. A wash sale occurs when you sell or trade stock or securities at a loss, and within 30 days before or after the sale you: Buy substantially identical stock or securities, Acquire substantially identical stock or securities in a fully taxable trade, Acquire a contract or o

Investment Services

Choosing Investments that Make Sense to You It’s a common belief that only the wealthy can invest, but that doesn’t need to be the case. On the contrary, investing today is accessible to people of all ages and income levels. At Akram | Assurance, Advisory & Tax Firm, we work with clients at all levels of investment. Whether you’ve had your portfolio for decades or are looking to make your first investments, our experienced staff wor

Growth Investing

Growth Investing  The aim of any investor is to see their capital grow. While there are no guarantees, professional investors have developed strategies to help identify and capitalize on investments with potential for profit. Akram | Assurance, Advisory & Tax Firm takes a strategic approach to investing, utilizing diversification and our extensive experience.  For more information on our investment tactics, schedule a complimentary

Family Offices

Collaborative Trust Accounting & Administration Akram has a robust practice focused on serving family offices, with clients ranging in size from Single Family Office (SFO) to Multiple Family Office (MFO) and their generations. We feel proud to be savvy in luxury tax planning. Every family has a unique set of needs that can change very quickly, and Akram family office specialists take the time to really get to know you and your family’s specifi

Venture Capital Fund Auditor

Venture Capital Fund Auditor: Ensuring Financial Integrity and Transparency The role of a venture capital fund auditor is dominant in this complex and evolving landscape of venture capital. At Akram, we comprehend the implication of maintaining financial integrity and transparency in this fast-paced industry. As a prominent venture capital fund auditor, we provide careful oversight and all-inclusive auditing services that enable businesses to flourish while upholding the highest standards of ac

Broker-Dealer Services

Broker Dealer Auditor: Accounting and Tax Services As a broker-dealer auditor in today’s evolving industry, navigating the complex regulatory landscape is more challenging than ever. With new rules and regulations constantly being issued to combat illegal activities and regulate rogue brokers, broker-dealer institutions of all sizes are facing unprecedented levels of regulation. This means that brokers and dealers need