| Type | Limited Liability Company |
|---|---|
| Industry | Professional Services |
| Founded | 2002 |
| Headquarters | San Francisco, California |
| Number of locations | 14 Offices (2011) |
| Key people | Mark Vorsatz, CEO |
| Services | Tax Business Advisory Valuation Financial Advisory Wealth Management |
| Employees | 500 (96 Managing Directors) as of 09/27/2011 |
| Website | www.wtas.com |
WTAS LLC, founded in 2002 by 25 former public accounting firm partners, is one of the largest independent tax firms in the United States, providing a wide range of tax, valuation, financial advisory and related consulting services to individual and corporate clients across the country. As an independent advisory firm that is not affiliated with an auditing firm, WTAS is not restricted in its ability to provide a full range of tax advisory services to businesses.
As of 2011, WTAS has over 500 personnel located in 14 major cities.
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In July 2002, in the wake of Arthur Andersen's demise, Andersen announced that HSBC USA, Inc., through a new subsidiary, Wealth and Tax Advisory Services USA Inc. (WTAS), would purchase a portion of Andersen's tax practice. The new HSBC Private Client Services Group would serve the wealth and tax advisory needs of high net worth individuals.[1]
On December 31, 2007, HSBC USA Inc. has signed an agreement to sell Wealth & Tax Advisory Services USA Inc. (‘WTAS’) to participating WTAS managing directors in a management buy-out. In consideration for the sale, HSBC would receive US $5 million in cash and deferred notes with a principal amount totaling US $60.85 million. Under the agreement, HSBC has an option to acquire 19.9 per cent of the equity of WTAS, subject to certain conditions and dilution as new managing directors join WTAS over time.[2]
Since the HSBC sale, WTAS has dropped “Wealth and Tax Advisory Services” and is now referred to as WTAS LLC.
WTAS is ranked 14th in revenues of the Top 100 Tax Firms according to Accounting Today 2011.[3]
WTAS is ranked 14th in revenues of the Top 100 Tax Firms according to Accounting Today 2010.[4]
WTAS managing directors publish key resources that are widely used by tax practitioners.
Tax Economics of Charitable Giving
Expert analysis and tax guidance from the resource trusted by professionals for over 40 years. Technically complete, yet written for the lay person as well as the expert advisor to donors, charitable organizations, and fundraisers, Tax Economics of Charitable Giving is full of the practical guidance needed to take advantage of both present and future tax-saving opportunities.[5]
Income Taxation of Fiduciaries and Beneficiaries
Income Taxation of Fiduciaries and Beneficiaries provides step-by-step guidance on the taxation of fiduciary income. This comprehensive guide for practitioners advising fiduciaries and beneficiaries in federal and state income tax matters covers the broad range of complex issues from charitable remainder trusts to nexus rules and their effect.[6]
Sovereign Wealth Funds – A Legal, Tax and Economic Perspective
In Sovereign Wealth Funds, noted international tax lawyer Leonard Schneidman, has assembled an array of essays authored by a global collection of subject area experts designed to explore three key aspects of SWFs: their regulation and governance, investment behavior and taxation.[7]
WTAS is organized around the following three client groups:
Private client services
Commercial services
Alternative investment services