Complete Wealth Management With Dave Alison

On August 16, 2024, Presidential candidate Kamala Harris released details of her economic and tax plan. Bob Keebler analyzes the estate and gift tax proposals contained in the proposed American Housing and Economic Mobility Act of 2024. 

In this video, we will break down the income and estate tax considerations of her proposal.

We will discuss:
➡️ Exempting Tip Income from Taxation
➡️ Expanding Tax Credits for Families
➡️ Housing Tax Incentives
➡️ Clawing Back Deductions
➡️ Corporate Income Tax Rate
➡️ Higher Tax Rates
➡️ Capital Gains Tax Reform
➡️ 32% increase to Medicare Tax for people earning over $400k
➡️  Additional Tax on Retirement Accounts over $10m & earnings over $400k
➡️  Financial Transaction Tax
➡️  Apply wash sale rules to Crypto and digital assets
➡️ Limiting Like-Kind Exchanges to $500k
➡️ Reducing the Estate & Gift Tax Exemption Amount
➡️ Increasing the Estate Tax Rate
➡️ Eliminating the Step Up in Basis for Grantor Trusts
➡️ Reducing the Annual Gift Exclusion to $10,000 with an annual cap of $20,000 per person
➡️ Creating a 10-year life for GRATs and imposing a 10% remainder interest
➡️ Ending Grantor Trusts
➡️ Limiting Discounts on Certain Assets
➡️ Imposing a Surtax on high income trusts and estates of 5% for AGIs over $200k and another 3% for AGIs over $500k
➡️ A minimum 25% tax on total income (inclusive of unrealized capital gains) for taxpayers with wealth greater than $100 million

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*Welcome to Alison Wealth's Official YouTube Channel, where managing wealth is made simple for high-net-worth families and individuals*

Our channel offers a streamlined approach to wealth management, combining tax, investment, and advisory services under one roof with Prosperity Capital Advisors, an SEC-registered investment advisor. We understand that with more wealth comes the need for smarter decisions, not just for now but for the future. Our videos are crafted to give you clarity and boost your confidence in protecting and growing your wealth. From reducing taxes to estate planning and asset management, we cover everything you need to make informed choices. At Alison Wealth, we act as your household CFO, offering comprehensive solutions that align with your values and goals. 

➡️ We tackle the complexities of wealth, providing strategies for asset maximization, tax efficiency, and legacy building, all in clear, simple language.Our unique approach breaks down the barriers between different financial services, showing you how to integrate them seamlessly into your life. Whether you're navigating the challenges of wealth or looking to optimize your financial future, our channel is your go-to resource for practical advice and expert insights.

Advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). Views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

All data provided, including any reference to specific securities or sectors, is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. Consider your investment objectives, risks, charges and expenses before investing. These views are as of the date of this publication and are subject to change. Past performance is no guarantee of future performance.

Can a presidential election year bring stability to your portfolio? Find out how historical trends and informed strategies can guide you through the noise. In this episode, we explore the third quarter 2024 market intel report, revealing that global equity markets have returned a solid 10% so far. Despite the usual election-year volatility, we underscore the critical importance of maintaining a diversified investment strategy. Learn why focusing on fundamental market drivers, rather than short-term political distractions, is key to long-term success. We also delve into the Federal Reserve's actions in the current economic climate, discussing the implications of persistent inflation and rising interest rates. 

Navigating market uncertainty with confidence is crucial, especially in an election year. We provide valuable insights on staying committed to your financial goals amidst the political noise. Discover why historical data suggests that presidential election years aren't necessarily detrimental to market performance. Also, learn the importance of discussing your risk tolerance and any concerns with your advisor to make necessary adjustments to your portfolio. Stay on track with your investment strategy by aligning it closely with your needs and comfort level. Reach out to our team with any questions, and we'll reconnect next quarter to continue guiding you through the financial landscape.

Advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). Views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

All data provided, including any reference to specific securities or sectors, is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. Consider your investment objectives, risks, charges and expenses before investing. These views are as of the date of this publication and are subject to change. Past performance is no guarantee of future performance.

Unlock the secrets to masterful tax management with our latest episode where we navigate through the transformative landscape post the Tax Cuts and Jobs Act of 2017, they shed light on how Alison Wealth Management has redefined the way we approach tax planning. From our early family office days to serving a diverse clientele, this episode promises to equip you with the strategies you need to triumph over the incoming tax shifts that could affect your bottom line.

We're at a pivotal moment as the sunset phase of the Tax Cuts and Jobs Act looms, stirring the waters of the tax world. You'll discover why this year and next year are critical for anyone paying taxes, as we delve into what the reduction in standard deductions and hike in tax brackets could mean for your wealth. 

Our experts dissect the nuances of advanced planning methods that could shield your income and prepare you for the financial reverberations of these changes. Business owners, retirees, and high income professionals alike will find invaluable insights to stay ahead of the curve.

Lastly, we pull back the curtain on sophisticated estate planning tactics in response to the evolving tax code. Hear real-world applications of how lifetime giving trusts and irrevocable trusts can fortify your legacy against the impending reduction of gift and estate tax exemptions. We'll also explain how survivorship life insurance policies can be a game changer in your financial arsenal. By the end of this episode, you'll be equipped with the foresight to craft a legacy that not only survives the taxman but thrives for generations to come.

Advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). Views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

All data provided, including any reference to specific securities or sectors, is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. Consider your investment objectives, risks, charges and expenses before investing. These views are as of the date of this publication and are subject to change. Past performance is no guarantee of future performance.

Join us on the Complete Wealth Management Podcast, Episode 19, where Certified Financial Planners and Tax Experts Dave Alison, Conrad Levesque, and David Roth delve into considerations, planning, and strategies for a sudden financial windfall. Whether you’ve received an inheritance, sold a business, or cashed out stock options, this episode provides essential considerations for managing your financial windfall.

➡️ Key Topics Covered:

1. Retirement Planning: Explore how to make the most of your newfound wealth while securing your future.
2. Tax Management: Understand the tax implications of your windfall and strategize accordingly.
3. Creating Cashflow: Learn how to generate income from your assets to sustain your lifestyle.
4. Inflation Impact: Consider the long-term effects of inflation on your income.
5. Legacy and Charitable Planning: Discover ways to leave a lasting impact through philanthropy.

Join us as we unravel the complexities of financial windfalls, debunk myths, and provide evidence-based insights. Whether you’re a seasoned investor or new to wealth management, this episode offers valuable guidance.

Subscribe now to the Complete Wealth Management Podcast and unlock the secrets to maximizing your financial potential! 🌟

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Advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). Views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

All data provided, including any reference to specific securities or sectors, is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. Consider your investment objectives, risks, charges and expenses before investing. These views are as of the date of this publication and are subject to change. Past performance is no guarantee of future performance.

Have you ever wondered if presidential elections should sway your stock portfolio strategy? This episode might just shift your perspective. We sift through a century's worth of data, debunking doomsday assumptions about market performance in election years. While some investors joke about packing for Canada based on political outcomes, we're here to anchor you to a data-driven approach. Join Dave Alison & Dr. Apollo Lupescu as they provide insight into evidence based investment strategies to help you get ahead in an election year.

In this episode, Dave and Apollo will unravel the tangled strings that connect politics to your investment's fate—a narrative less influenced by who occupies the Oval Office and more tied to the companies' strategies and market innovation. Reflecting on historical market trends, we bring you tales of industry giants and unexpected market twists that drive home the point: politics is just one piece of the intricate puzzle of the stock market. Celebrate the victories of the patient investor with us, and embrace the heartening statistic that the market basks in gains three out of every four years. Join us in this episode for a journey through history, strategy, and the art of keeping a cool head in the heat of political and market fluctuations.

Advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). Views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

All data provided, including any reference to specific securities or sectors, is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. Consider your investment objectives, risks, charges and expenses before investing. These views are as of the date of this publication and are subject to change. Past performance is no guarantee of future performance.

Unlock the secrets of meaningful philanthropy and ensure your generosity leaves a lasting impact. Joining me is Christopher P. Woehrle, JD, LLM, an adjunct professor of taxation at the Widger School of Law, Villanova University.

Chris is a tax attorney & philanthropy expert with a heart for giving. In this episode, we explore the depths of strategic philanthropy. Chris will share his wisdom on how deliberate planning trumps impulsivity, paving the way for contributions that not only resonate with your personal values but also offer significant tax advantages. The discussion pivots from the why to the how of giving, presenting a plethora of options for those integrating philanthropy into their financial fabric.

The art of giving extends beyond the individual; it's a potent family endeavor with the power to bind generations through shared values. We dissect the importance of a family philanthropy plan, emphasizing the crafting of a mission statement that acts as a compass for your charitable journey. I share strategies for including children in philanthropic activities, ensuring the notion of giving back is a legacy as inheritable as the wealth itself. Chris and I agree – philanthropy isn't just about money; it's a teaching tool, a vehicle for instilling empathy, and a catalyst for preparing the young minds of your family for the roles they'll one day assume.

As we wrap up our conversation, we navigate the often complex intersection of charitable giving and tax benefits. We demystify donor advised funds, private foundations, and charitable remainder trusts, equipping you with the knowledge to make savvy decisions that benefit both your heart and your wallet. And a gentle reminder: though Chris and I offer a banquet of insights, always consult with the appropriate financial professional for guidance tailored to your specific circumstances. 

About Christopher P. Woehrle, JD, LLM:

Chris has served as a member of the editorial board of Trusts & Estates magazine since September of 2014. Chris has written extensively on how to improve retirement income through philanthropic planning. In recognition of his writings on use of split-interest charitable giving in coordination with financial and retirement planning goals, Chris received from Trusts & Estates a 2017 Distinguished Author Award.

Prior to his arrival at The American College, Chris enjoyed a seventeen career as a senior development professional and executive. During his tenure as Senior Associate Vice President and Acting Senior Vice President of Institutional Advancement at Drexel University, Chris was a five time achiever of the Philanthropy 400 status, awarded to the most productive development programs in the United States.

Chris is married to Lann  Woehrle, MD, a retired member of the medical staff at Pennsylvania Hospital. In addition to supporting his wife’s philanthropy in pancreatic cancer research, Chris has endowed a named scholarship at his prep school and supported two bricks and mortar campaigns each at the major gift level. Chris & Lann are members of the Leadership Board of the McGovern Institute of Brain Resear

Advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). Views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

All data provided, including any reference to specific securities or sectors, is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. Consider your investment objectives, risks, charges and expenses before investing. These views are as of the date of this publication and are subject to change. Past performance is no guarantee of future performance.

Dive headfirst into the world of taxes and chuckle along as we explore the comedic side of CPAs' March Madness—a frenzy of number crunching that rivals any basketball tournament. Our latest episode offers a spirited look at the humorous anecdotes that pepper tax season, from deductions so wild they border on mythical to the truth behind splurging for tax breaks. We also unravel the concept of tax-efficient funnels, providing savvy insights into how smart planning with 401(k)s and other financial strategies can bolster your savings and ease the burden come tax time.

When it comes to the future, it's about making choices today that secure a comfortable tomorrow. This episode, featuring Dave Alison, Conrad Levesque, & David Roth, lays out a map for navigating the complex terrain of retirement accounts—from the dependable traditional IRA to the modern appeal of the Roth IRA—tailored for high-income earners seeking to optimize their golden years. We debate the merits of pre-tax contributions versus Roth's after-tax appeal, and even crack the code on backdoor conversions and the power of Solo-K plans for the entrepreneurial spirits tuning in.

Don't miss out as we pivot to the more strategic aspects of financial planning, examining tax-advantaged savings vehicles that do more than just shelter your money from the taxman—they serve as pillars in a robust financial framework. Learn how HSAs can be more than mere savings accounts, but rather investment opportunities with tax-free growth potential. And for those looking to diversify, we delve into the intricacies of real estate and cryptocurrency investments, assuring you that starting with maximizing your 401(k) is just the tip of the iceberg. Whether you're looking for a laugh or a lesson in finance, this episode strikes the perfect balance between entertainment and education.

Advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). Views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

All data provided, including any reference to specific securities or sectors, is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. Consider your investment objectives, risks, charges and expenses before investing. These views are as of the date of this publication and are subject to change. Past performance is no guarantee of future performance.

In this empowering episode of The Complete Wealth Management Podcast, we delve deep into the heart of retirement planning, providing you with actionable strategies to alleviate your biggest retirement concerns. Hosted by Dave Alison, a seasoned certified financial planner, and joined by esteemed guest Conrad Levesque, CFP, CPA and David Roth, CFP, EA, both experienced retirement planners, this episode promises to be a beacon of guidance in the often murky waters of financial security.

As retirement looms on the horizon, fears about financial stability, healthcare costs, and the uncertainty of the future can cast a shadow over what should be a golden period of life. However, armed with the right knowledge and proactive measures, you can transform those fears into confidence and assurance.

Throughout this insightful discussion, the team at Alison Wealth will explore a myriad of topics, including turning assets into retirement income, strategic investment approaches to safeguard your nest egg, and savvy tips for navigating the complexities of healthcare in retirement.

Moreover, they delve into the psychological aspects of retirement planning, addressing common anxieties and offering practical advice on how to cultivate a mindset of abundance and security.

Whether you're nearing retirement age or just beginning your journey towards financial independence, this episode is an invaluable resource that will equip you with the tools and strategies needed to eliminate your biggest retirement concerns and pave the way for a fulfilling and prosperous future. Tune in now and embark on the path to a worry-free retirement!

The information provided in this presentation is not intended to be individual investment advice or legal advice.  The information provided is for informational and training purposes only.

Investment advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). For a detailed discussion of PCA and its investment advisory fees, see the firm’s Form ADV and Form CRS on file with the SEC at www.adviserinfo.sec.gov. The views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

Advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). Views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

All data provided, including any reference to specific securities or sectors, is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. Consider your investment objectives, risks, charges and expenses before investing. These views are as of the date of this publication and are subject to change. Past performance is no guarantee of future performance.

In this episode, Dave Alison reflects on 2023 and shares our Q1 Market Intel Report. We're peeling back the layers on inflation's retreat, robust consumer spending, and a labor market that's standing strong against the odds. Dave doesn't just share the hard numbers; he brings clarity to what these trends mean for the year ahead, especially with whispers of Federal Reserve rate cuts stirring the air. 

Armed with historical data that spotlights the stark contrasts in stock market performance after a rate cut during recessionary and non-recessionary times, Dave guides us through the labyrinth of the stock market's response to interest rate tweaks.

Lastly, as the presidential election looms over us with its aura of uncertainty, Dave dissects the potential impacts—or lack thereof—on the economy and your investments. This is your gateway to understanding the subtle yet significant shifts that could shape your financial future in 2024.

The three major themes discussed are:
👉 The state of the U.S. economy and what's ahead
👉 What the start of rate cuts could mean for markets
👉 The potential market impact of the presidential election

For more episodes of our podcast, visit:
https://www.alisonwealth.com/podcast or find us on your favorite podcast player here: https://completewealthmanagement.buzzsprout.com/share

To learn more about Alison Wealth Management, please visit our website at: https://alisonwealth.com

The information provided in this presentation is not intended to be individual investment advice or legal advice.  The information provided is for informational and training purposes only.

Investment advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). For a detailed discussion of PCA and its investment advisory fees, see the firm’s Form ADV and Form CRS on file with the SEC at www.adviserinfo.sec.gov. The views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

Advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). Views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

All data provided, including any reference to specific securities or sectors, is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. Consider your investment objectives, risks, charges and expenses before investing. These views are as of the date of this publication and are subject to change. Past performance is no guarantee of future performance.

Ever pondered what it'd be like to trade the 9-5 grind for an early retirement? How about a life of sailing and adventure instead of sitting in front of the computer screen? 

That's precisely what our wealth management client's, Jayne and James, did!

In this special client experience episode, I sit down with James and Jayne, who became clients of Alison Wealth Management in 2021. They sought assistance in designing and optimizing their distinctive retirement plan. We delve into their decision to exit the full-time workforce at the early age of 50 to concentrate on their passion for travel and sailing.

As we sail along with them in our conversation, you'll hear their journey - James, a former Meta (Facebook) Engineering Director and Jayne, who was in marketing at Stanford University shed light on:

👉 Early retirement decisions

👉The qualitative & quantitative aspects of their decision-making process

👉 Leaving the workforce during peak income-earning stage of life.

If you are considering an If you are considering an early retirement, or just looking for inspiration on pursing your passion, check this episode out! retirement, check this episode out!

For more episodes of our podcast, visit:
https://www.alisonwealth.com/podcast or find us on your favorite podcast player here: https://completewealthmanagement.buzzsprout.com/share

To learn more about Alison Wealth Management, please visit our website at: https://alisonwealth.com

The information provided in this presentation is not intended to be individual investment advice or legal advice.  The information provided is for informational and training purposes only.

Investment advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). For a detailed discussion of PCA and its investment advisory fees, see the firm’s Form ADV and Form CRS on file with the SEC at www.adviserinfo.sec.gov. The views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

Advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). Views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.

All data provided, including any reference to specific securities or sectors, is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. Consider your investment objectives, risks, charges and expenses before investing. These views are as of the date of this publication and are subject to change. Past performance is no guarantee of future performance.