Category: Tax
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Fundamentals of Wealth Longevity Part II: Estate Planning Basics with Laura Williams
A recent WSJ Intelligence study revealed the top two priorities of ultra-high-net-worth individual respondents (UHNWI’s) are growing their assets and limiting tax liabilities. Despite this, a separate survey of affluent Americans found that fully 52% of respondents lack even the basic elements of a proper estate plan. Given the complexityof the issues involved, it’s little…
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Oft Overlooked Estate Planning: Allocating Retirement Assets to Philanthropy
Many in the financial and estate planning fields primarily focus on managing cash flow during their clients’ lives and minimizing their estate taxes. However, an ancillary planning tactic—and something that we find is often overlooked—is, when an individual passes away, maximizing charitable contributions with certain retirement plan assets, such as Individual Retirement Accounts (IRAs) and…
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7 Developments in the World of Investments and Tax Planning to Know
Many investors have begun to turn their attention to what the rest of this year may bring, i.e., what key themes are important to be aware moving forward? Here we outline seven major developments in the world of investments and tax planning investors need to know. 1. FED, ECONOMY, INFLATION ALL IN FOCUS. AND T-BILLS’…
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What Is an Exit Strategy?
An exit strategy in business is exactly as its name suggests: it’s the way out for business owners, entrepreneurs and investors in a business. Typically, an exit strategy is the culmination of a successful career of nurturing and building a business. However, for an exit strategy to be successful, it should be developed well in…
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Too Few Executives are Asking for Stock Options: How and Why That Needs to Change
Talk about leaving money “on the table.” The current darling of the “Magnificent 7,” Nvidia, the microchip manufacturer that is helping to drive the AI revolution, has seen its market capitalization shoot up to $2 trillion just 180 trading days after hitting the $1 trillion mark.[1] However, according to Nvidia’s own public filings, NONE of its executives…
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Understanding the Different Types of Family Office Structures & Deciding Which One is Right for You
What factors drive wealthy families and entrepreneurs to establish family offices? Is it simply viewed as a status symbol, social expectation, or a cultural rite of passage? For some, definitely. But for the majority, the family office is a necessity grown from important life events. If you are experiencing any of the following situations, a…
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Wall Street Journal Feature: How to Make Sure Your Second Home Doesn’t Become a Tax Trap
When considering moving out of a high-tax state, be mindful of state-tax laws through proper planning and record-keeping. Geller’s Allen Injijian, Head of Wealth Strategy, offered his insights to The Wall Street Journal in this article, which covers: Read the full article on Wall Street Journal here. To hear more from Allen on this topic,…
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From Operating a Business to Running a Family Enterprise: Treating Wealth as the New Family Business
No family business owner ever thinks it can happen to them. You spend decades building the business, nose to the proverbial grindstone day after day to create a legacy you can be proud of. Finally, the time comes to reap the fruits of your labors through a carefully planned exit, resulting in a substantial influx…
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Business Owners Looking to Exit: Why You Need to Act Now before the Estate Tax Exemption (Potentially) Sunsets
Brace yourselves. Business owners should prepare to be inundated over the next 12-18 months (if not already) with urgent appeals from estate planners, financial advisors, and accountants to get their tax planning in order before the federal lifetime estate and gift tax exemption potentially sunsets at the end of 2025. While that might seem like a…
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Busting 5 Common Myths about Changing Domicile
It is our observation that wealthy people are moving out of high-tax states, such as California and New York. Particularly for high-net-worth and ultra-high-net-worth individuals and families, where you live can impact your tax obligations and overall net worth over time. When you look at the data, the trend is clear. For example, West Palm…