Alpha wealth-Management for high net worth individuals and family offices
MKG Tax Consultants Advisory provides Alpha wealth-management for high net worth individuals and family offices. While asset management focuses on investments, wealth management takes a much broader view. Wealth management is about looking at an individual or family’s overall financial situation and taking steps to maximize their wealth and protect it down the line.
Our advisory professionals can take a number of strategies and encompass a number of services. Services offered by our wealth manager’s may include:
Tax planning
Education planning
Legacy planning
Estate planning
Insurance
Charitable giving
Retirement planning
While asset management is focused on growing an investor’s money, wealth management looks more holistically at a client’s overall financial situation and takes steps to ensure their wealth will be protected over the long run.
Wealth managers are also often paid through a percentage of assets under management, though some are paid a flat or hourly fee.
There are now seven different ordinary income tax brackets – 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%, and three different capital gains tax brackets – 0%, 15%, and 20%. Furthermore, if you combine these tax brackets with the new 3.8% NIIT, there are even more possible tax brackets; i.e., high income taxpayers will be subject to a 43.4% tax rate on ordinary investment income and a 23.8% tax rate on long-term capital gains. Lastly, when taking into account the phase-out of personal exemptions (PEP) and limitations on itemized deductions (Pease) as income rises above the applicable threshold amounts, the tax rates increase even further.
75 Best Income Strategies In 2021 To Generate Alpha Tax Strategies
Roth IRA conversions to “fill-up brackets”
Roth IRA conversions by asset class
Roth IRA conversions when basis exists
Roth 401(k) bracket analysis
Roth IRA fees paid from “outside” broker accounts
Asset location with Roth IRAs and Traditional IRAs
Taking IRA and Roth IRA distributions in December rather than January
Consider an immediate annuity to defer taxable income while recovering basis
Avoid margin status for stocks with qualified dividends because the dividends will be taxed as ordinary income
Avoid acquiring stocks immediately prior to the payment of dividends
Making IRA and Roth IRA contributions in January rather than December
IRA Distributions to “fill-up brackets”
Carefully planning for pre-age 59½ distributions
Consider tax deferred annuities to “leap-frog” over high income years
Consider life insurance to replace a portion of the bond portfolio
Consider tax-exempt, double exempt, and private activity bonds
Consider utilizing only “qualified dividend stocks” to obtain low tax yield
Consider a higher asset allocation to low risk / low volatile high dividend yield stocks to obtain “qualified dividends rather than interest”
