AT THIS TIME OF THE YEAR YOU ARE CONSTANTLY REMINDED TO TAX PLAN... YOU SHOULD REVIEW YOUR INVESTMENT PORTFOLIO TOO...
Paul Levine
Commercial Realtor and Real Estate Advisor | Retired CPA with over 50 years of income tax experience that no other Commercial Realtor has, Income Tax Consultant and unmatched Creatively!
As I have said time and time again, I was a practicing Certified Public Accountant for over 50 years before getting into real estate. But, you cannot ignore the necessity of reviewing your investment portfolio at the same time. You are supposed to do your income tax planning with your CPA but you are supposed to review your investment portfolio with your real estate consultant and your Certified Financial Planner.
You don't have a CPA and a CFP and a Real Estate advisor, you should have a team working for you so that all of the pieces fit together and give you that well-rounded investment portfolio that will meet your current needs, wants, and desires and also meet your future plans. First, you have to deal with your current needs, wants, and desires of cash flow, appreciation, income tax savings, going green, and other considerations. Then you have to plan, for at least 5 years, for the future of gifting your assets to your heirs and passing the assets that you have to your heirs upon your passing.
I know, we are all going to live forever. WRONG!!! We don't know what the Biden Administration will do with passing the assets to your heirs at the Fair Market Value as has been the case for so many years. I've heard that there will be a limit up until the old rules will survive and then a change in the law that will tax the very rich and not carry that Fair Market Value on to your heirs. And, then I've heard about a graduated scale reducing the benefit depending on the size of your estate.
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Either way, we have to be concerned about the value that the Real Estate portion of your investment is passed onto your children. That's why you adjust your portfolio planning each year and change that 5 year plan annually. And, that's where I come in, I help define your plans and I help you achieve them!!!
My name is Paul Levine and you can call me at (818) 298 - 4000 after 10 AM Pacific Time Monday through Friday and an occasional weekend. Or, you can write an email to me at "[email protected]" anytime and I will always try to get back to you in a timely manner.
I was not going to write about this today but the thought just hit me. Tomorrow I will complete my article about rounding off your investment portfolio