From: Richard Kahn |
Sent: 11/29/2016 3:37:46 PM To: jeffrey E. [jeevacation@gmail.com] Subject: Tax Planning Under Trump
Importance: — High
not sure your thoughts on likelihood of his plan (with very little details) passing
my concern and thoughts are that if itemized deductions are capped at 200,000 you will be impacted by Trump plan
your itemized deductions on the last 2 years returns were as follows:
2015 1,721,474 2014 739,139
the two biggest items on your itemized are RE Taxes of approximately 600,000 per year and investment interest expense from STC K-1 with the majority coming from boothbay
i thought that 2016 may be a good year to contribute appreciated stock to gratitude or enhanced for three reasons:
a) potential cap on itemized per trump b) very low EDC income this year so your effective tax rate is higher c) if itemized stays however tax rates go down charitable deduction is worth more in 2016
Gratitude & Enhanced Summary Cash 4,738,854
Equities 3,792,177
Fixed Income 2,199,792
Total Value as of 10-31-2016 10,730,823
Although calculation below does not factor in growth i ran summaries how long foundations can continue to make annual contributions at the following levels:
600,000 17.88 years 700,000 15.33 years 800,000 13.41 years 900,000 11.92 years 1,000,000 10.73 years
http://smolin.com/tax-planning-trump/?utm_medium=email& hsenc=p2ANqtz-9cVvrtlu7t-
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& hsmi=38093530&utm content=38093530&utm source=hs email&hsCtaTracking=04 192ff7-d8f4-4bdc-
ac61-36ac99f6aa45%7C5 15b98b3-dbce-47cd-87ad-20d95c646158
HOUSE_OVERSIGHT_026635