News & Insights: private client services

Private Client Insights, Issue #2 2020


May 19, 2020

This special issue of Private Client Insights provides you with timely and insightful information related to the COVID-19 outbreak.

Estate Planning Considerations in Light of COVID-19


By Sara Rabi  |  May 14, 2020

The rapid escalation of the coronavirus pandemic has motivated clients to finalize their estate planning documents.

COVID-19: An Opportunity for Gift and Estate Planning at Low Valuations


By Angela Sadang  |  May 14, 2020

Business owners and high-net-worth individuals can take advantage of low valuations during this time to minimize gift and estate taxes.

Special Rules for Use of Retirement Funds


May 14, 2020

By Lorri Morris

The CARES Act includes several provisions that cover retirement accounts and changes that will impact retirement income strategies.

Is Now the Right Time to Convert to a Roth IRA?


By Galina Portnoy  |  May 14, 2020

The current downturn in the stock market due to COVID-19 and today’s low tax rates create ideal conditions for a Roth conversion.

How COVID-19 Is Affecting Your Exit Plan


By Dannell R. Lyne  |  May 14, 2020

For owners who are contemplating, planning or executing an exit plan, various factors must be considered to ensure an equitable deal is possible considering the current COVID-19 pandemic.

Did You Make a Taxable Gift in 2019? Don’t Overlook Gift Tax Filing Requirements When Funding Trusts


By Christopher D. Wright  |  February 11, 2020

While cash gifts of are fairly straightforward (as are their impact on tax filings), there is an often-overlooked instance of the gift tax that has the potential to generate quite a headache come April—funding a trust.

Maximize Your Charitable Contributions to Minimize Your Tax Liability


By Jennifer Leelaviwatana  |  February 11, 2020

Since the enactment of the Tax Cuts and Jobs Act of 2017, taxpayers are limited to a deduction of up to $10,000 of state and local income taxes. However, donating to charity is still a powerful tool to minimize tax liability.

Succession Planning: Tax Considerations When Exiting Your Business


By Dannell R. Lyne  |  February 11, 2020

There comes a time when business owners begin to contemplate retirement and an exit from the company they own and/or are operating. It’s important to begin succession planning in advance, because how you approach exiting your business will produce different tax outcomes.

The Fallout From the New Tax Law


By Joseph M. Giampapa |  Russell S. Ephraim  |  February 11, 2020

In preparation for the coming tax season, Joseph Giampapa and Russel Ephraim examine who reaped the benefits of the new tax law in 2018 and which changes had the most dramatic impact on high-net-worth and high-profile individuals.

Private Client Insights, Issue #1 2020


February 10, 2020

Marks Paneth’s new Private Client Insights newsletter is designed to to help high-net-worth and high-profile individuals address tax planning, trusts & estates and multigenerational needs.

The Impact of the Tax Cuts and Jobs Act on Trusts and Estates


By Laura E. LaForgia  |  May 29, 2019

Among the many provisions in the Tax Cuts and Jobs Act of 2017 (TCJA) were some significant changes to the taxation of trusts and estates. Tax Partner Laura LaForgia helps high-net-worth individuals and their advisors understand the temporary and permanent effects on their trust and estate tax planning strategies.

WHAT’S OLD IS WHAT’S NEW


By Robert G. Kuchner  |  November 15, 2016

Contrary to popular belief ― and probably in keeping with your own professional experience ― high net worth individuals (HNWI) rarely regard tax reduction and improving cash flow as chief among their concerns. For affluent investors it's really about what they can walk away with, not necessarily how much they earn. And let’s face it, a great performing investment can become a very mediocre one once taxes kick in.

This article was written by Robert G. Kuchner, CPA/PFS, a Partner at Marks Paneth LLP. “What's Old Is What's New”, will appear in the December issue of Global Business Opportunities.