PwC Releases Tax and Wealth Management Guide

PricewaterhouseCoopers US has released the latest edition of “Managing Your Wealth: Guide to Tax and Wealth Management,” the firm’s annual guide aimed at helping high-net-worth individuals, families and business owners better understand and play an active role in growing and preserving their wealth.

The updated guide incorporates recent legal, economic and legislative developments affecting wealth plans, including tax changes that went into effect at the beginning of 2013. New to this year’s edition is a chapter on cross-border considerations with respect to wealthy families and the global interconnectedness of economies and markets. The latest edition also explains complex wealth management strategies.

Like previous editions, this year's guide is supported by an online resource center that allows readers to download specific chapters or the full book and watch video interviews with PwC partners on various financial planning topics. Users also gain access to other PwC resources regarding personal finance and wealth management.

Together, the guide, online resource center and the recently launched PwC 365 digital app serve as a reference for overall wealth management planning, with particular focus on the areas of effective tax planning, managing investments, charitable giving, estate and gift planning, business succession, family meetings, family offices, cross-border considerations and risk management.

“Five years have elapsed since the financial crisis,” said Brittney Saks, PwC’s U.S. leader for the Personal Financial Services practice and editor-in-chief of the guide. “For high-net-worth individuals and families, the biggest lesson has been that no one can afford to let their wealth management run on autopilot. The tax changes that took effect in January, coupled with economic and political volatility at home and around the world, means that now more than ever, high-net-worth individuals need to be actively engaged in wealth management decisions.”

Along with covering tax law changes at home, the guide also discusses the complexity of navigating tax issues abroad that can affect a family’s wealth management strategy. “Cross-border investments and transactions may seem standard, but they could entail unforeseen challenges in tax reporting,” said Saks. “It’s essential that international families, globally diversified investors and other U.S. taxpayers with interests in foreign entities thoroughly understand their reporting responsibilities.”

The guide is available as a free download at and through the PwC 365 app.

U.S. GAAP and IFRS Guide
Separately, PwC also released the 2013 edition of its “IFRS and US GAAP: Similarities and Differences” guide on Wednesday. Designed to improve corporate understanding of the differences between International Financial Reporting Standards and U.S. GAAP, this year’s edition focuses on the critical role of being financially “bilingual”—fluent in both sets of accounting standards—especially as U.S. companies look overseas to identify new growth opportunities and engage in cross-border M&A activity.

The guide is available for download at

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