Bailey Larsen focuses her practice within Fox, O’Neill & Shannon, S.C.’s taxation, estate planning and corporate practice groups.
As both a lawyer and a CPA, Bailey is uniquely qualified to advise corporate, foundation and individual clients on the tax consequences of business transactions and estate planning techniques.
As a part of FOS’s corporate practice group, Bailey helps clients establish new businesses, assists clients in obtaining tax-exempt status from the IRS for their charitable organizations, and drafts and implements Nonqualified Deferred Compensation Plans for closely held businesses.
Bailey’s knowledge and experience allows her to ably assist the firm’s White Collar team in representing clients being investigated or accused of financial crimes, including tax fraud, wire fraud, mail fraud, embezzlement, Ponzi schemes, and a variety of other alleged financial improprieties.
Bailey also guides clients though the estate planning process, providing creative solutions to unique client situations through comprehensive documents, including wills, trusts, health care and durable powers of attorney, and other dispositive documents. Bailey additionally works with heirs, personal representatives, trustees and beneficiaries to properly distribute the assets of a decedent through probate and non-probate proceedings and procedures.
Given her dual CPA and attorney experience, Bailey is sensitive to and adept at wealth management preservation for high income and high net worth individuals. Her skills are also particularly effective when dealing with succession planning issues of family businesses, closely held corporations and limited liability companies. As part of her overall services, Bailey prepares income tax returns for individuals, corporations, limited liability companies, foundations, estates, trusts, and partnerships. She also prepares gift tax returns, including as a component of a client’s estate plan.
- Crafted a comprehensive estate plan, including a business succession plan, for a client with a self-made $6 million business.
- Drafted and implemented a Supplemental Executive Retirement Plan for a closely held business to assist in incentivizing key employees.
- Assisted multiple clients in obtaining tax-exempt status from the IRS for their charitable organizations.
- Prepared and filed numerous tax returns for high net worth clients.
Bailey participates in many professional organizations, including the Waukesha County Business Alliance, the Society of Financial Service Providers, the Association for Women Lawyers, and the American Bar Association.
Bailey joined FOS after working for Deloitte, one of the “Big 4” accounting firms, in its Business Tax Services department, focusing primarily on private wealth clients. While at Deloitte, Bailey provided succession planning services for high net worth individuals and privately held companies, in addition to preparing complex tax returns. Bailey also consulted on multiple corporate reorganizations and drafted tax opinions on the taxability of corporate spin-offs.
Bailey was born and raised in Plainfield, Illinois. Growing up, she played competitive club soccer at tournaments throughout the United States and internationally in Brazil.
Bailey obtained her bachelor’s degree in Finance and Accounting from the University of Wisconsin-Milwaukee, summa cum laude. While at the university, Bailey was a competitive member of its women’s soccer team.
Bailey obtained her law degree from Marquette University Law School. While at Marquette, Bailey served as a Moot Court Board member, an Academic Success Program leader, and a member of the Marquette Sports Law Review. Bailey also participated in the Volunteer Income Tax Assistance program, preparing tax returns for underprivileged individuals and foreign non-resident aliens.
Before her legal career, Bailey spent more than two years working at the Milwaukee Art Museum, which she continues to support.
Bailey and her husband Dan are active supporters of the military and military families. Dan, who served in the United States Army National Guard, completed two tours of duty in Iraq.
Bailey and Dan spend most of their free time enjoying and trying to keep up with their son Decker, who was born in 2017, and his almost two years older twin sisters Harper and Zoey. Bailey and Dan’s fervent hope is to one day take a very long nap.