How to Avoid the New York State Estate Tax Cliff
When someone passes away in New York, in 2025, there is a $7.16 million estate tax exclusion amount, which is significantly lower than the $13.9M exemption amount available at the federal level. However, in addition to the lower estate tax exemption amount, there are also two estate tax traps specific to New York that residents need to be aware of when completing their estate plan. Those two tax traps are:
1) The $7.5 million Cliff Rule
2) No Portability between spouses
With proper estate planning, these tax traps can potentially be avoided, allowing residents of New York to side-step a significant state tax liability when passing assets onto their heirs.
Multi-Generational Roth Conversion Planning
With the new 10-Year Rule in effect, passing along a Traditional IRA could create a major tax burden for your beneficiaries. One strategy gaining traction among high-net-worth families and retirees is the “Next Gen Roth Conversion Strategy.” By paying tax now at lower rates, you may be able to pass on a fully tax-free Roth IRA—one that continues growing tax-free for years after the original account owner has passed away.
IRS Gifting Rules: Tuition vs. Student Loan Payments
Helping a family member pay for education? Make sure you're on the right side of the IRS.
Whether you're covering K–12 tuition, writing checks for college, or assisting with student loans after graduation, the tax treatment of those payments isn’t always intuitive. The IRS draws a clear line between direct tuition payments and student loan contributions—and crossing that line could mean triggering gift tax rules you didn’t anticipate.
Company Stock In Your 401(k)? Don’t Forget To Elect NUA
If you’re retiring or leaving your job and have company stock in your 401(k), understanding NUA (Net Unrealized Appreciation) could save you thousands in taxes. Many miss this valuable opportunity by rolling everything into an IRA without considering the tax implications. Our latest article breaks down how NUA works, common tax mistakes, and when choosing NUA makes sense. Learn how factors like your age, retirement timeline, and stock performance play a role. Don’t overlook this strategy if your company stock has grown significantly in value—it could make a big difference in your retirement savings.
The Hidden Tax Traps in Retirement Most People Miss
Many retirees are caught off guard by unexpected tax hits from required minimum distributions (RMDs), Social Security, and even Medicare premiums. In this article, we break down the most common retirement tax traps — and how smart planning can help you avoid them.
Trump Has The Stock Market and Fed Cornered
The stock market selloff continues amid the escalation of the trade wars between the US and 180 other countries. It’s left investors asking the questions:
Where is the bottom?
Are we headed for a recession?
Unfortunately, the answers are largely rooted in the decisions that President Trump makes in the coming days and weeks. There have been talks about the Fed decreasing rate, tax reform getting passed sooner, negotiations beginning with 50 of the 180 countries that we placed tariff on, but in this article we are going to explain why all of these solutions may be too little too late when it comes to the overall negative impact that tariff are currently having on the US economy.
Trump’s Reciprocal Tariff: Renegotiating with the World
Yesterday, April 2, 2025, President Trump announced new tariffs, referred to as “reciprocal tariffs,” against more than 180 countries simultaneously. Both the magnitude of the tariffs and the number of countries against which they will be levied far exceeded market expectations. This raises new concerns for investors regarding how these new tariff policies will impact the US economy, both in the short term and long term.
While policy can be debated regarding whether or not the new tariffs will bring positive long-term change to the US economy, we believe that additional risk may lie in the method by which the new policy is being implemented. As we have seen in business many times, the right strategy, executed the wrong way, can lead to unexpected negative outcomes.
The March Selloff – Trouble on the Surface
March was a tough month for the stock market, with the S&P 500 Index dropping by over 5% for the month. With the new “Liberation Day” tariffs going into effect on April 2nd, many investors are asking if the new tariffs and the recent stock market correction warrant a change in investment strategy. Will the selloff continue, or are we in store for a market rally in April?
In this article, we will share our market analysis, highlight key economic data points to watch as the new tariffs are rolled out, and answer the question: Do recent events warrant a change in investment strategy?
