Tax Planning Strategy: Nothing is certain but death and taxes and what is certain this year is that taxes have gone up. Increases in the social security tax rate, Federal laws such as the Affordable Care Act and the American Taxpayer Relief Act of 2012, and stock market gains mean many Americans are facing much higher tax bills. Financial advisors Alexandra Lebenthal and Mark Cortazzo will help us minimize the pain.
Minimizing Taxes video and further info below via WealthTrack on the subject of Tax Planning Strategy
This week’s guests are both experts in tax strategies. Alexandra Lebenthal is the President and CEO of Lebenthal Holdings, a boutique investment bank, as well as an asset management and wealth management firm for high net worth individuals. It is the largest woman-owned securities underwriting firm in the business. Lebenthal is the third generation to run a Lebenthal investment firm.
Mark Cortazzo is a familiar face on WEALTHTRACK. Founder and senior partner of the now 20-plus year old wealth management firm MACRO Consulting Group, Cortazzo has been recognized as a top advisor by Barron’s Magazine for the fifth consecutive year, as well as by Worth andFortune magazines. InvestmentNews recently identified him as a “top transformational advisor”.
START TAKING SOME MONEY OFF THE MARKET TABLE
Several WealthTrack Great Investors, like Don Yacktman and Steven Romick, are holding cash.
– They see few undervalued investments
– They own very high quality securities
LEBENTHAL: ANNUAL INSURANCE REVIEW
– Do an annual review of your insurance coverage
– Review life insurance and long-term care policies
CORTAZZO: “THE ULTIMATE TAX SHELTER”
– Make annual contributions to your child or grandchild’s Roth IRA