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Asset Preservation Advisors




City:Atlanta

State: GA



BIOGRAPHY:
APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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Wealthy Investors Think About Taxes

Some wealthy investors say they would consider moving to another state with a lighter tax bill in order to reduce their own tax liabilities.

| BY Kent McDill


It is said that taxes are inevitable, but that is a matter of degree.

Investors can make financial maneuvers to decrease their tax burden, and many do take full advantage of those opportunities.

In Spectrem’s study of the wealthiest investors – 2014 $25 Million Plus investor – 45 percent of investors are investing in tax-free bonds in order to decrease their tax burden. Similarly, 45 percent are meeting, or have meetings scheduled, with tax attorneys or financial advisors to determine how best to attack and decrease their tax bill.

Older wealthy investors are most active when it comes to dealing with their tax bite. Fifty-seven percent of $25 Million Plus investors over the age of 65 are buying tax-free bonds, and 64 percent are revising their estate plans to consider tax implications. Fifty-nine percent have met with their tax advisors or have a meeting scheduled.

Investors under the age of 56 are less likely to be investing in tax-free bonds (only 40 percent) and only 37 percent have met with their tax advisor, or have plans to do so.

More than one-third (34 percent) of all $25 Million Plus investors are increasing their charitable contributions in order to reduce their tax burden. That maneuver is more popular among the older investors (41 percent) than the younger ones (34 percent). Also, 53 percent of corporate executives are increasing their charitable contributions for tax purposes.

Almost one-quarter of all investors are considering the drastic move of moving to another state, where the tax burden is not as high as their current home state. That includes almost one-third (32 percent) all investors under the age of 56, and 30 percent of all investors with a net worth of at least $125 million.

Eighteen percent of all investors have purchased tax-advantaged life insurance.

Among national financial concerns, 65 percent of all $25 million Plus investors consider taxes to be a concern.

 

 

 



About the Author


Kent McDill

kmcdill@spectrem.com

Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.

In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.

McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.

McDill is the father of four children, and an active fan of soccer, Jimmy  Buffett and all things Disney.