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A $100 million family-owned manufacturing company based in the Southeast had long relied on multiple teams for audit and tax services. With a footprint that spanned international operations, a complex affiliate structure, and multiple generations of family members involved, both directly and through trusts, the business had simply outgrown a piecemeal service model. What once worked for a smaller, domestic operation no longer scaled in a modern, cross-border enterprise.
As the business grew, so did the complexity of its financials. Despite working with technically skilled advisors, the company struggled with disconnected strategies. Communication gaps led to missed opportunities, especially around international reporting. Individual, trust, and corporate strategies operated independently, creating inefficiencies and limiting strategic insight.
Eventually, the CFO recognized the need for change. While compliance deadlines were met, tax planning felt reactive. No one was stepping back to ask the bigger questions about how the entity structure or succession plan could be adapted to support the business’s next phase of growth.
At Elliott Davis, we understood early on that this client’s challenges were rooted in relationships. The company was entangled in a web of overlapping corporate, trust, and personal tax structures. Like many multigenerational businesses, its complexity had gradually outpaced the fragmented approach of its legacy service providers. The business was moving forward, but the tax approach was stuck in the past.
We introduced a reimagined approach that acknowledged the interconnected nature of their business, family, and financial structures. A cross-disciplinary team, spanning corporate, individual, trust, SALT, and international tax specialists, was assembled under a single engagement leader. That structure enabled seamless communication, shared goals, and unified execution.
Our approach was designed specifically for family-owned operations where personal and professional lives are closely intertwined. Our advisors understand that when it comes to tax planning for closely held business, you can’t separate the business from the family. This idea shapes everything from entity structure to succession planning.
We were able to correct past missteps such as inaccurate tax projections and penalty exposures, but the real value came in helping the client think beyond the next quarter of filing deadline. Together, we built a forward-looking strategy designed to grow with the business and reflect the family’s long-term vision.
By replacing a fragmented service model with a cohesive, relationship-led approach, the client regained control. Today, our team manages the full scope of their tax planning, from global compliance to generational wealth transitions. There’s no more guessing about which advisor to call or whether one strategy will contradict another. Every decision flows through a coordinated framework with the full picture in mind.
For family-owned businesses with complex structures and changing leadership, technical expertise is only part of the equation. It’s coordination that ties everything together, bridging the gap between strategy and execution.
The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.
