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Margaret Amsden

Margaret Amsden

Shareholder, Private Client Services

Margaret leads the firm’s private client services group as the point person for individual, estate and succession planning tax strategies.

What is your area of focus?

As the point person for individual, estate and succession planning tax strategies and entity structuring, I interpret tax legislation, working proactively with clients to realize the best possible advantage. As clients focus on operating, growing and transitioning their businesses, my team and I stay abreast of ever-evolving federal and state tax legislation to determine how these changes impact an overall plan.

How long have you been at Clayton & McKervey?

Since 1999

What is the favorite part about your job?

Taxes are fun, and I appreciate their inherent challenges and opportunities.

Specializations

  • Partnership and Limited Liability Corporation structuring
  • Transaction consulting, structuring and compliance
  • Mergers, acquisitions and reorganizations
  • High-net worth individual income tax planning
  • Succession planning and estate and wealth transfer consulting

Education

  • Master of Science in Taxation, Walsh College
  • Bachelor of Science in Industrial Management, Georgia Institute of Technology
  • Certificate in Industrial and Organizational Psychology, Georgia Institute of Technology

Connections

  • Association for Corporate Growth, Board of Directors
  • Metro Detroit Youth Clubs, Board of Directors
  • Financial and Estate Planning Council of Metro Detroit, Board of Directors
  • Private Directors Association, Member
  • Greenleaf Trust, Advisory Board
  • Walsh College, Tax Advisory Board
  • American Institute of Certified Public Accountants, Tax Section

Articles by Margaret Amsden

  • Private Client Services

How to Set Up an IRS Online Account for Easy Payments

Dealing with the IRS is intimidating for many individuals. Using the IRS website to create an account provides you with ample time to review your records and complete payments or other activities without the pressure (or wait!) of speaking with an IRS representative to get the identical information.  

by Margaret Amsden

  • Private Client Services

Private Foundations vs. DAFs: Pros and Cons

As we approach year-end, it is a good time to start thinking about charitable giving. Private foundations and donor-advised funds (DAFs) are two popular options to consider. Here are the pros, cons and tax impacts of each method. 

by Margaret Amsden

  • Private Client Services

2022 Guide to Roth IRA and Roth 401(k) Conversions

Doing a Roth conversion without understanding all the nuances and implications can be a recipe for disaster. Roth IRAs hit their quarter-century birthday this year and its much lesser-known brother—the Roth 401(k)— just turned a sweet 16. Using these powerful investment tools, we pay taxes on our contributions now in exchange for vast tax savings in the future.

by Margaret Amsden

  • Private Client Services

Estate Planning for Entrepreneurs

Whether you’re still growing your business or have already sold it to enjoy the fruits of your former labor, it’s easy to focus solely on your day-to-day life without thinking much about the future. It’s important to step back and plan for your ultimate wealth distribution by putting together an estate plan.

by Margaret Amsden

  • Private Client Services

Do You Have a Personal Balance Sheet?

A personal balance sheet provides an overall snapshot of your wealth at a specific period in time. If you are a business owner, a balance sheet can help you manage your business by identifying concentrations of certain assets, and when you might have too much of one thing or not enough of another to run your business.

by Margaret Amsden

  • Private Client Services

Buy-Sell Agreements Pave the Way for Your Future

Having a properly structured buy-sell agreement in place is a best practice for long-term business success. Also known as a buyout agreement, the right buy-sell plan provides vital financial protection for shareholders or partners and their families. It also helps to ensure the continuity of the business for employees and customers.

by Margaret Amsden

  • Tax & Assurance Guidance

IRS Provides Relief on K-2 and K-3

In an attempt to provide more transparency with regard to reporting of foreign activity and/or information to foreign owners, the IRS came out with two new forms: Schedule K-2 (an addendum to the Schedule K) and Schedule K-3 (an addendum to the Schedule K-1). Learn about the latest K-2 and K-3 reporting requirements issued by the IRS.

by Margaret Amsden

by Tarah Ablett

  • Private Client Services

Do You Know What You’re Worth?

Knowing your net worth can help you evaluate your financial health and plan for the future. From defining net worth to understanding what assets and liabilities are, here are some basic considerations to help you get started.

by Margaret Amsden

  • Private Client Services

Gifting to the Family: Don’t Wait too Long!

This has been an eventful, record-breaking year for mergers and acquisitions, up 158% from the same time last year. Stock values continue to rise while interest rates remain at record lows, creating a prime environment to make deals and close transactions. Consider this guidance to help take advantage of the current tax code and valuation discounts before they disappear.

by Margaret Amsden

  • Private Client Services

Gifting to Reduce Tax Liability

With the end of the year quickly approaching, the time for year-end tax planning is now, especially with the impending changes outlined in the Build Back Better Act (BBBA) set to be implemented at the start of 2022. One of the major changes affects high-net-worth individuals looking to make gifts to reduce a potential future estate tax liability.

by Margaret Amsden

  • Tax & Assurance Guidance

2021 Reporting Guidance

Every year brings a list of information filing requirements necessary to make sure payees have the information needed to file their taxes. To assist with year-end business reporting, here are some items for you to consider.

by Sarah Russell

by Margaret Amsden

  • Private Client Services

Is Your Wealth Being Managed by the Right Team?

Though CPAs and wealth managers are two different advisors, together they play an essential role in helping individuals make short- and long-term financial plans. To make the best plans for their future, clients are discovering that a partnership between these professionals can further enhance their financial goals and performance.

by Margaret Amsden

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Industrial automation businesses are the driving force behind Industry 4.0, and Clayton & McKervey is here to help.

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