FAMILY OFFICE · PRIVATE EQUITY · HIGH NET WORTH
CPA services for single-family offices.
Accounting, tax, and fiduciary services for families with $5–10M+ in assets and investments spanning PE funds, LP interests, carried interest, and alternative investments. Beverly Hills, CA. Named partner on every engagement.
This is what a complex investment picture actually looks like.
A single-family office at $5–10M in assets rarely has a simple tax return. It has a 1040 that runs forty pages before you reach the first K-1 schedule: ordinary income from a carried interest allocation in Fund III, long-term capital gain from Fund I's portfolio exit that finally closed, phantom income from Fund II that didn't distribute a dollar, dividends and realized gains from three brokerage accounts, a trust returning K-1s to two beneficiaries, and nonresident state returns in four jurisdictions because two of the PE funds have portfolio companies with California, New York, and Illinois nexus.
Most families in this position have multiple advisors — a wealth manager, an estate attorney, a CPA — and no single source of truth connecting them. The books don't reconcile to the tax return. The K-1 aggregation happens manually in April when it's too late for planning. The consolidated family balance sheet exists in a spreadsheet somewhere, updated quarterly if you're lucky.
At Laléa & Black, one team handles the whole picture — accounting, tax, entities, trusts, fiduciary — coordinated at the CPA level, with a named partner accountable at the top.
WHAT WE DO
Five services. One coordinated team.
01
Accounting & Financial Records
The foundation of every other service. Monthly close across all entities. Consolidated family balance sheet. K-1 aggregation across PE fund positions and brokerage accounts. Real books, reviewed by a CPA, every month.
- Monthly close in QuickBooks Online, CPA-reviewed, across all entities
- Consolidated family balance sheet and reporting across entities, trusts, and investment accounts
- PE fund capital account tracking — contributions, distributions, income allocations
- Brokerage account reconciliation across custodians (Schwab, Fidelity, Morgan Stanley)
- K-1 aggregation and filing management — tracking, assembly, extension coordination
- Bill pay through Bill.com · Payroll through ADP · Documents through Egnyte
02
Tax Planning & Preparation
All entities, coordinated. 1040, 1041, 1065, 1120-S, multi-state — plus PE-specific mechanics: §1061 carried interest, phantom income projection, PAL tracking, QSBS pass-through, and K-1 aggregation across all alternative investment positions. Planning in June. Not April.
PE fund K-1s routinely arrive in August or September. We extend every return where K-1 data is outstanding and size the April estimated payment in June — conservative enough to avoid underpayment penalties.
03
Entity Structuring & Compliance
Annual entity stack review. SOS filings, Delaware franchise tax, PTE elections, compliance calendar. §1061 entity-structure analysis where carried interest is held in an LLC or S-corp vehicle.
04
Trust & Estate
Form 1041 across all trust types. DNI analysis. K-1s to beneficiaries. Multi-generational trust coordination — from dynasty trusts seeded with PE fund interests to testamentary trusts distributing across beneficiaries at different rates. Estate plan and tax return aligned, not siloed.
05
Fiduciary Accounting
Court-ready fiduciary accountings for trustees, conservators, guardians, and executors. California Probate Code compliance. PE fund capital account activity incorporated into trust accountings where the trust holds LP interests.
WHY L&B
The difference between a family CFO and a file on someone's desk.
NAMED PARTNERS
Every engagement has a named CPA partner accountable for the work. Not a team lead you never meet. Large firms cannot credibly claim this at scale. We can — because we stay small enough to mean it.
NO OFFSHORING
All accounting, tax, and fiduciary work is done by U.S.-based CPAs. Your K-1s, capital account statements, trust instruments, and deal terms never leave the country. Confidentiality isn't a feature. It's the whole job.
ONE FIRM
Accounting, tax, entity compliance, trust filings, fiduciary accountings — one team, one data set, one coordinated picture. You don't manage the gap between your accountant and your bookkeeper. We eliminate it.
PE FUND FLUENCY
§1061 carried interest, K-1 aggregation across alternative investments, phantom income projection, PAL tracking, QSBS pass-through — standard work product here. If your current CPA treats your PE fund K-1s as an afterthought, that's the problem.
COMMON QUESTIONS
The questions we hear most.
Do you handle PE fund K-1s in-house, or refer them out? +
In-house. K-1 aggregation across all alternative investment positions, §1061 carried interest analysis, passive activity loss tracking, outside basis maintenance, QSBS pass-through, and multi-state sourcing from PE fund footnotes are standard work product here. PE fund K-1s are the expected complexity level for the clients we serve — not edge cases.
What does the consolidated family balance sheet include? +
We produce a consolidated family balance sheet monthly: entity equity across all operating and holding entities, PE fund capital account balances (contributions, cumulative distributions, allocated income, and estimated NAV from fund statements), brokerage positions at cost and market value, real property at cost basis, trust assets by trust, and household-level liabilities. One document. A single source of truth.
How do you handle late K-1s from PE funds? +
We extend every return where K-1 data is outstanding. The extension is filed before April 15. The April estimated payment is sized in June using capital account statements, interim distribution notices, and prior-year patterns — conservative enough to avoid underpayment penalties. September and October K-1s complete the picture. You never track this. We do.
What is your fee structure? +
Flat monthly fee for accounting and ongoing services. Fixed or not-to-exceed fee for tax preparation — quoted before work begins. PE fund K-1 complexity is scoped into the engagement fee, not billed as extra work when the K-1s arrive in October. No hourly billing against an open-ended retainer.
Do you serve clients outside of Los Angeles? +
Yes. Our office is in Beverly Hills and most clients are in the LA area — Beverly Hills, Bel Air, Brentwood, Pacific Palisades, Santa Monica, Malibu, Pasadena. We also serve single-family offices nationally on a fully remote basis.
One firm. Every entity. No handoffs.
Accounting, tax, entity structuring, trust filings, and fiduciary accountings — one CPA team, coordinated across all of it. Named partner on every engagement. Beverly Hills, CA.
BOOK A CONSULTATION →(866) 222-6060