Economy
Wealth Management Experts Navigate Impending Tax Cuts Expiration
Apr
With the anticipated conclusion of Trump’s tax cuts nearing, financial consultants prepare to navigate impacts on affluent clients’ estates. Roughly over 20 months remain until certain tax breaks expire, emphasizing proactive estate planning. Experts stress the importance of strategic planning for the changes ahead.
Phil Hammitt, RBC Wealth Management: Advocating for Proactive Planning
Phil Hammitt of RBC Wealth Management underscores the necessity of assuming the expiration of Tax Cuts and Jobs Act provisions, stressing that planning ahead is imperative. Recognizing the gradual and thoughtful nature of estate planning, Hammitt urges thorough discussions with clients about their objectives and the implementation of strategies aligned with those goals.
Tara Thompson Popernik, Bernstein Private Wealth Management: Prioritizing Proactive Planning
At Bernstein Private Wealth Management, Tara Thompson Popernik addresses discussions on the potential expiration of 2017 tax cuts. Popernik urges proactive planning for affluent clients, aligning their priorities and leveraging analytical tools for financial security.
Popernik urges proactive planning for affluent clients amidst potential tax cut expiration discussions. According to Barron’s Subscription.
Mark Parthemer, Glenmede: Recommendations for Preparedness
Mark Parthemer of Glenmede advises clients to prepare for potential changes by considering income and alternative minimum tax alterations. Parthemer suggests exploring flexible planning options while cautioning against premature actions that could result in regret if legislation alters the sunset provisions.
Jaime Barnes, Skyeburst Wealth Management: Leveraging Current Opportunities
Jaime Barnes of Skyeburst Wealth Management advocates for leveraging current tax advantages, such as Roth conversions, to optimize tax efficiency and secure future financial stability. Barnes emphasizes the importance of evaluating various strategies tailored to individual client needs.
Jameson Van Houten, Beacon Pointe Advisors: Holistic Planning Approach
Jameson Van Houten of Beacon Pointe Advisors highlights the importance of comprehensive planning involving all relevant parties, including CPAs and attorneys. Van Houten stresses the need for a collaborative approach to identify the most suitable course of action for clients amidst impending tax changes.
Douglas Stokes, Stokes Family Office: Informed Decision Making
Douglas Stokes, from Stokes Family Office, educates clients on estate-tax exemptions and bonus depreciation, advocating against hasty reactions. He advises staying updated on potential changes and maximizing current tax laws until the sunset provisions kick in. Financial advisors stress proactive planning and informed choices amid the countdown to the Trump tax cuts’ expiration. Amidst evolving tax landscapes, preparation is crucial to minimize tax burdens and secure clients’ long-term financial well-being. With uncertainty ahead, strategic preparation remains paramount to navigate future tax changes and sustain financial prosperity.
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