As a high net worth individual with a robust balance sheet, you may find yourself the intended recipient of an inheritance and for the purposes of generosity and tax efficiency, would rather pass on to other family members. This may be especially true if you have an asset base in excess of the Federal estate … Continued
The term “robo-advisor” has been getting so much press lately you’d think we were facing the rise of the machines. Images of an “advisor” who looks and sounds like C3PO from Star Wars asking, “When do you plan to retire? I repeat, when do you plan to retire?” run through my mind. Actually, robo or … Continued
Home ownership has long been appealing to families, not only because it fulfills a “dream” but also because home ownership has favored status in the tax code. As with many personal financial matters, purchasing a home cannot be reduced purely to “bottom-line” calculations. Emotions, particularly the heightening sense of economic security, can come from financially-appropriate … Continued
The Valley has experienced a dramatic shift over the years from using the competitive value proposition of stock options to attract and retain top talent, to offering restricted stock units as an attractive enticement. This trend started to develop as the incentive models of stock options showed diminishing effectiveness; employees began to realize that a … Continued
Who enjoys paying taxes? I think I can say confidently that the answer is no one. As covered in my article “All About That Basis,” an accurate record of the cost basis of your investments can help you minimize your tax bill when you dispose of an asset. The best and perhaps easiest way to … Continued
Over the last few years, we have seen an uptick in clients borrowing against their investment accounts for short-term liquidity needs such as a larger tax payment or a bridge loan to secure a real estate purchase. The option of a margin loan has been more attractive due to historic low interest rates and a … Continued
Real estate, farmland, artwork, closely-held stock of C or S corporations….these are all highly valuable assets, especially here in the Land of Founder’s Stock. If you’re philanthropically minded, it might make sense to consider incorporating these valuable, less liquid assets in your strategic gift and tax planning. With the memory of tax season still fresh, … Continued
For those who want to pursue inter-generational transfers of wealth to assist their family while they are still living, two rather simple techniques stand out for their general ease and effectiveness; annual exclusion gifts and 529 plan contributions. Both offer significant help to children and grandchildren, and provide meaningful estate planning opportunities. Direct gifting may … Continued
Like other sections of the tax code, the 1031 Exchange is increasingly familiar, if not always well-understood, and it can be useful in the right situation. Section 1031 describes the circumstances where exchanges of “like-kind” properties are permitted that can defer recognition of both capital gain and taxes. Strict limitations and guidelines apply, and thus … Continued
In my house we are running either the theme song from The Lego® Movie or the hit ballad from Disney’s Frozen on a continuous dizzying loop. Either my daughters are parading around the kitchen with their princess capes on – “letting it go” – or my son is pumping his fists in the air shouting … Continued