Every business owner wants to save on taxes, and there’s a variety of tax planning strategies available in the US.
In this episode, John and Michael Parise speak with Matthew Kirk from Holland & Knight about an esoteric tax planning strategy that not many American businesses know about. Matthew gives an overview of the tax benefits in Puerto Rico and the Virgin Islands, explains the rationale behind them, and unpacks some of the finer details, cautioning businesses to speak with a proactive financial professional about using this strategy.
An overview of the tax benefits in Puerto Rico and the US Virgin Islands and the differences between the two
The rationale for the tax benefits in both US territories
The importance of discussing the small details and any questions about these jurisdictions with proactive financial professionals
Matthew Kirk is a private wealth services attorney in the Holland & Knight’s Atlanta office. Matthew focuses his practice on designing and implementing sophisticated wealth planning and transfer strategies for high-net-worth individuals that often combine objectives of tax minimization, wealth preservation, succession planning, and business planning.
The past two years have caused multiple stressors in the financial marketplace.
Inflation, oil prices, the uncertainty of the dollar, global issues, the war between Russia and Ukraine, and others have made decision-making around our financial future a more daunting task.
But don’t worry. John and Michael Parise from Copper Beech Financial Group are here to help you so that you help your clients!
This week, this father-son duo unveils the tips and tricks advisors need to support their clients and their financial decisions in this fast-changing marketplace. John and Michael also unpack important conversations you must address with your clients.
John and Michael discuss:
Ways the economy has shifted since 2020
The value of asking and answering the “tough questions”
Estate tax changes and ways it impacts those taking risks
Right now interest rates and inflation are higher than most of us have ever seen.
The market is changing and in the next 18 to 24 month it will look different than the slow rise that we have been used to seeing in the past 12 years.
In this episode of The Truth About Wealth, John and Michael are joined by Christian Hyldahl, a financial professional at Varium Investments who has been in the financial business for 30 years, to discuss what the economic trends will look like in the next short future.
John, Michael, and Christian discuss:
Christian’s thoughts on who is to blame for inflation
Advice for retirees facing an inflated market
The influence that the fed has had on the market
What might happen in response to the inflated market
If you are set to have an estate tax, how might that tax get paid? Can we get that tax to zero?
In this episode, John and Michael discuss their approach to estate taxes. In their approach, taxes are voluntary and planning is essential to ensure your loved ones have a plan and the means to pay for estate taxes when the time comes.
John and Michael discuss:
The best and worst ways to pay your estate taxes
Section 6166 for business exclusions on estate taxes
Gregan loans and how they can reduce your estate tax
The importance of starting early when it comes to planning