Tax Archives - Geller

Fundamentals of Wealth Longevity Part II: Estate Planning Basics with Laura Williams

Laura Williams — Mon, 26 Aug 2024 16:35:25 +0000

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

Mark Rubin — Tue, 13 Aug 2024 18:38:56 +0000

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

Meghan Grainer — Thu, 08 Aug 2024 19:31:21 +0000

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?

Alexandra Pielusko — Wed, 29 May 2024 14:55:04 +0000

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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From Operating a Business to Running a Family Enterprise: Treating Wealth as the New Family Business

Allen Injijian — Fri, 15 Mar 2024 00:12:16 +0000

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

Allen Injijian — Fri, 05 Jan 2024 20:39:20 +0000

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

Allen Injijian — Mon, 27 Nov 2023 18:15:15 +0000

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 […]

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Coping with Loss: Financial Checklist and Other Considerations After the Passing of a Loved One

Tracey Stoecklin — Fri, 16 Jun 2023 16:01:07 +0000

Financial Checklist and Other Considerations After the Passing of a Loved One.

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6 Recent Trends in Sustainable Charitable Gifting

Joe Kluemper — Tue, 18 Apr 2023 17:15:21 +0000

Geller’s Tax Advisory team explores who could most benefit from charitable gifting of a remainder interest in a personal residence, and why this may be an excellent vehicle to accomplish testamentary intentions while enjoying a substantial current income tax deduction.

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The Big Picture: Astute Art Management Is an Important Component in Maintaining the Value of Passion Assets

Mona Manahi — Mon, 27 Feb 2023 03:06:00 +0000

In November 1987, barely three weeks after what remains the single steepest crash in the history of Wall Street, Vincent van Gogh’s iconic painting Irises went under the hammer on Manhattan’s Upper East Side. Amid frenzied bidding mere miles from where the previous month’s ‘Black Monday’ mayhem unfolded on the New York Stock Exchange, the masterpiece sold for a world record-shattering $53.9 million.

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