Tax & Estate Planning

It’s Not Only What You Earn, It’s What You Get To Keep

Our experts can support you in navigating the complexities of the US tax code and probates. We provide guidance on current and prospective tax regulations to assist you through life decisions that have tax implications.

TAX TERMS & RESOURCES >

Recent Blog Articles

IRS Provides Shelter from the Storm

Jan 06

Gerry O’Connell, EA
Tax Planning, Partner

Inherited IRAs Tax Update: Incorporating IRS Notice 2022-53

Dec 06

Gerry O’Connell, EA
Tax Planning, Partner

Have You Considered Gifting to the Older Generation? Here’s Why You Should

Nov 06

Gerry O’Connell, EA
Tax Planning, Partner

Is It Too Soon to Start Thinking About Your Estate Plan?

Apr 06

Simon Mayali, JD, LL.M
Estate Planning, Director

More Blogs & Checklists...

Tax Advisory Services Include:

Maximizing tax-deductible retirement contributions
Planning for tax-free income in retirement
Using lower-income years (“gap years”) between working and taking RMD distributions
Tax-loss harvesting to minimize taxable income
Selling an investment property tax-efficiently
Diversifying concentrated stock portfolios tax-efficiently
Maximizing tax benefits of charitable donations
Strategies to tax-efficiently pass estate to heirs

BakerAvenue’s Enrolled Agents

The Enrolled Agent license is the highest tax credential awarded by the IRS. Our experts have obtained this elite certification, and bring with them experience from the Big 4 accounting firms, law firms, and banking. They are committed to ensuring that the advice you receive is timely and tailored to your circumstances.

Recent White Papers

White Paper

Your Comprehensive Tax Planning Guide

White Paper

Create Mega Value Using Your 401(k): How to Put Up to $67.5K/Yr Into Retirement

White Paper

Ensuring Your Legacy Lasts for Lifetimes

White Paper

The Complete Guide to Tax Strategies for ISOs and AMT Optimization

more White Papers...

INVESTMENTS

Lower Rates:

Fully utilize lower rates for capital gains vs. ordinary income
Know when and how to avoid net investment income
Hold stocks for qualified dividends that are taxed at preferential rates
Employ tax-loss harvesting to match realized gains and losses

RETIREMENT

Apply Deductions:

Apply deductions to pension plans and retirement accounts
Implement rollover and conversion strategies for tax-free income
Use gap years to recognize gains and convert to Roth IRA
Donate using qualifying charitable distributions from IRAs to satisfy RMD requirements
Utilize triple-exempt bond investments for tax-free income in retirement

Transfer Taxes:

Monitor impact of transfer taxes (estate and gift) on current estate value
Fully use current exemption amounts through lifetime gifting strategies
Review legislative developments as they affect your estate
Consider use of specialized trusts to remove assets from taxable estates, favor selected charities, and pass wealth to heirs

CONCENTRATED STOCK

Diversify:

Understand charitable giving solutions to defer taxes on stock diversification strategy
Implement tax-loss harvesting strategy to offset gains on income tax returns
If stock positions include significant incentive stock options, estimate alternative minimum tax (AMT) exposure when exercising options and use the taxes through AMT credit off-set

Which Tax Strategies Are Best for You?

Your Goal(s)	Charitable Remainder Trust (CRT)	Active Tax-Loss Harvesting	Roth Conversions	Post-Tax Retirement Accounts: 401(k)s & IRAs	Qualifying Opportunity Zones (QOZ) & 1031 Exchanges	HSA & 529 Accounts	Donor Advised Fund (DAF)
Reduce income taxes	✓			✓		✓	✓
Reduce capital gains taxes	✓	✓			✓		✓
Grow assets tax-deferred	✓					✓
Grow assets tax-free			✓	✓	✓
Receive income for life, hedged inflation	✓
Help your heirs avoid income tax			✓	✓
Reduce estate taxes	✓						✓

STRATEGIES TO REDUCE TAX EXPOSURE

This year could be the last year to establish a Charitable Remainder Trust (CRT) that lets you convert a highly appreciated asset into lifetime income. Reduce your income taxes now, and pay no capital gains tax when the asset is sold.

Learn how CRTs work.

Which Estate Planning Strategy Is Best for Gifting?

Your Goal(s)	Grantor-Retained Annuity Trust	Spousal Lifetime Access Trust	Irrevocable Grantor Trust	Charitable Remainder Trust	Donor Advised Fund
Reduce income taxes				✓	✓
Reduce estate taxes	✓	✓	✓
Reduce capital gains taxes				✓	✓
Received fixed income for trust term	✓			✓
Receive income for life, hedged inflation				✓
Keep assets during the lifetime	✓	✓		✓
Help your heirs avoid income tax			✓
Contributing Assets
Cash		✓	✓	✓	✓
Appreciated securities	✓	✓	✓	✓	✓
Real estate	✓	✓	✓	✓
Art, antiques, patents, and other personal property		✓	✓	✓

Recent Videos

Estate Planning Overview

Integrating Estate Planning to Your Wealth Management Plan

Online Presentation

Tax Analysis for Incentive Stock Options & AMT Management

Tax Mitigation Strategies

Integrating Your Financial Plan with Tax Planning

Other Tax & Estate Planning Resources:

3rd Party Links:

IRS: Income ranges for determining IRA eligibility change for 2022

Annual Limits:

When you need to discuss your personal and professional life transitions, BakerAvenue is here for you.

The legal and/or tax information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice. It does not involve the rendering of personalized investment advice and should not be construed as an offer to buy or sell, or a solicitation of any offer to buy or sell securities. All information is subject to change. This material contains references to concepts that have legal, accounting, and tax implications, and is not intended as legal, accounting or tax advice as Baker Avenue Asset Management LP is not engaged in the practice of law, tax or accounting. Accordingly, any information in this document cannot be used by any taxpayer for purposes of avoiding penalties under the Internal Revenue Code. Information presented is believed to be factual and up-to-date, and BakerAvenue cannot guarantee that such information is accurate, complete, or timely. Laws of a particular state or laws which may be applicable to a particular situation may have an impact on the applicability, accuracy, or completeness of such information. Federal and state laws and regulations are complex and are subject to change. Changes in such laws and regulations may have a material impact on pre-and/or after-tax investment results. BakerAvenue makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult your own attorney and/or accountant for advice regarding your particular situation.

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