In 2017, the state and local tax (SALT) deduction was capped. This severely impacted the taxes for many people, especially the high-income earners in high-income-tax states.
In this episode, Roby Kotcamp and Derek Myron talk about the provisions that many states are offering, including California, to help taxpayers minimize the impact of the SALT deduction limit.
Roby and Derek discuss:
The evolution of SALT deductions — and the latest changes expected to stay until 2026
What type of business owners can benefit most from the deduction
Key deadlines you should be aware of to take advantage of the deduction in 2023
How Centura works closely with CPAs to help clients navigate the SALT deduction
Section 1202 of the IRS code can potentially save eligible business owners millions of dollars in taxes. However, it is an underutilized section as few business owners know how to successfully implement this strategy.
In this episode, Roby Kotcamp and Kyle Malmstrom explain what Section 1202 entails, the primary eligibility criteria for QSBS (qualified small business stock) transactions, and the major tax benefits involved in the process.
Roby and Kyle discuss:
Three types of business owners that can benefit most from QSBS transactions
Important dates that affect the extent of your tax exemption
How to minimize your federal and state income tax as well as your estate tax
Why you should plan at least a year in advance for QSBS transactions
At Centura, we divide financial planning services into two categories: 1) Steps that make your plan just “good enough” and 2) Steps that actually move the needle and make a measurable difference in your wealth.
In this episode, Derek Myron and Sean Clark unpack the four steps that fall “below-the-line” and three steps that fall “above-the-line” in financial planning. They further explain the impact that each step has on your financial plan.
Derek and Sean discuss:
What sets Centura Wealth Advisory’s Liberated Wealth® Process apart
The importance of adopting a forward-looking approach to tax planning
How Centura professionals collaborate with CPAs and estate planning attorneys to improve the client experience
How balance sheet optimization works (and why it matters)
Historically, many Americans have been quite charitably inclined.
If you are one of them, your philanthropic efforts can be optimized with Charitable Remainder Trusts (CRTs) that help you minimize your taxes when donating to your favorite organizations.
In this episode, Derek Myron and Kyle Malmstrom explain the benefits and risks of Charitable Remainder Trusts (CRTs) and why they are starting to regain their relevance in the current environment.
Derek and Kyle discuss:
How to determine if CRTs are ideal for your family
The different types of Charitable Remainder Trusts — and how to plan for them
How payout rates and duration impact your charitable planning
The types of investments that might work best within CRTs
Chuck and Mary Ann Cox became clients of Derek Myron, Managing Director of Centura Wealth Advisory (Centura), in 2004. After 18 years of wealth management and financial planning, Derek continues to serve Chuck today (unfortunately, Mary Ann passed away in 2018).
In this episode, Derek Myron interviews Chuck Cox, a retired executive, about his client experience at Centura. Chuck provides insights into the wealth management approach adopted by Centura and how it has improved his financial well-being over the years.
Chuck discusses:
The challenges he and Mary Ann faced while managing wealth on their own
How Centura advisors helped him in estate planning, tax planning and balance sheet optimization
How alternative investments contributed to his financial goals
Why he was able to assist in his daughter’s business without taking a hit on his own financial position
The presented testimonial is from a current Centura client and is for informational purposes only. The statements provided should not be considered as a representation of all client experiences, which may differ substantially.
The recent market and economic downturn, combined with high inflation and looming interest rates, are forcing investors to consider alternative asset classes.
One such alternative asset class is private equity, which has become highly accessible to individual investors today.
In this episode, Chris Osmond, CFA, CAIA®, CFP®, speaks with Jeremy Held, Managing Director at Bow River Capital, about the benefits of including private equity in your portfolio.
Jeremy discusses:
How private equity differs from public equity
Why access to private equity is no longer limited to institutional investors
How the Bow River Evergreen Fund dispels common myths related to evergreen funds
The current and future scope of private equity
Centura Wealth Advisory’s comprehensive due diligence process
Jeremy Held, CFA, is responsible for Bow River Capital’s registered asset management business including investment oversight, research and product development. Prior to joining Bow River Capital in 2019, Jeremy was the Director of Research and Chief Investment Officer (CIO) at ALPS Advisors, a Denver-based asset manager that specializes in registered fund vehicles focused on real assets and alternative investments. Jeremy began his career at ALPS in 1996 and helped lead a variety of business initiatives over two decades, including the launch of the firm’s asset management business in 2007. As CIO, Jeremy was responsible for manager selection and oversight and was ultimately responsible for all aspects of the ALPS Advisors business, overseeing 44 registered investment companies and more than $20 billion in assets.
Jeremy graduated from the University of Colorado with a degree in International Business. He is a CFA® charter holder and a member of the CFA Society of Denver. Jeremy is on the board of Principal Real Estate Income Fund and Habitat for Humanity of Metro Denver.
Selling a business is a complex process. You need to tackle several types of taxes. You need to effectively invest the proceeds. Finally, you also need to overcome the emotions of letting go of your business.
In this episode, Kyle Malmstrom interviews Doug Pate, a client of Centura Wealth Advisory (Centura) who recently sold his business, International Surf Ventures Inc., after growing it for 17 years.
Doug discusses:
His personal experience of navigating a business exit
How CLATs helped him save seven figures in taxes and achieve his charitable goals
Why wealth protection is as important as growing your wealth
Centura’s involvement in his wealth management (including alternative investments)
Doug Pate co-founded ISLE with his best friend, Marc Miller. Doug and Marc share a lifelong passion for the ocean and the sports that surround it. In their first four years of business, they sold surfboards online. At the time, there was no direct-to-consumer surfboard company, and by default, they became the industry’s pioneers. In 2008, they shifted their focus from surfboards to stand up paddle boards as a way to help more people get on the water across the country.
The presented testimonial is from a current Centura client and is for informational purposes only. The statements provided should not be considered as a representation of all client experiences, which may differ substantially.
Given the current market gyrations, we are often asked by clients, “What are we doing to manage risk? And how does it impact our portfolios?”
In this episode, Roby Kotcamp, Senior Wealth Advisor, and Chris Osmond, Chief Investment Officer, discuss Centura Wealth Advisory’s approach to risk management. They also explore strategies to achieve greater risk-adjusted returns.
Roby and Chris discuss:
A brief overview of the Fed’s recent actions — and their market implications
Why cash flow is more important than the rate of return
How private real estate, private equity, and private credit can be a useful addition to your portfolio
The benefits of structured notes in risk management
Aubrey Serfling and Lori Long have worked with Centura Wealth Advisory (Centura) as clients for over eight years now. Despite being retired executives today, they continue to work on their charitable endeavors.
In this episode, Derek Myron interviews Aubrey and Lori about their client experience at Centura. They share insights into their wealth management journey which includes comprehensive tax planning, estate planning, balance sheet optimization, and cash flow planning.
Aubrey and Lori discuss:
Major pain points they uncovered during their discovery process
How they have benefited from trusts (e.g. CLATs) and various alternative investments
Balance sheet items that caused maximum problems — and how they addressed them
Their advice to executives who are trying to manage wealth on their own
The presented testimonial is from a current Centura client and is for informational purposes only. The statements provided should not be considered as a representation of all client experiences, which may differ substantially.
Real estate investors often use a 1031 exchange to defer taxes.
However, a direct 1031 exchange is not possible if you want to transfer your real estate investment into publicly traded REIT shares.
In this episode, Sean Clark, Director of Financial Planning, and Mark Kenny, Advanced Planner, discuss alternative tax deferral strategies using UPREITs and DownREITs.
Sean and Mark discuss:
A brief overview of 1031 exchanges
How UPREITs and DownREITs work — and the difference between them
How the team at Centura Wealth Advisory navigates these transactions
Liquidity, diversification, and wealth transfer benefits of UPREITs and DownREITs
Mark Kenny is a Senior Wealth Planner at Centura Wealth Advisory. He provides advanced tax, estate, and wealth planning to high-net-worth clients. He has over 25 years of experience in estate planning, retirement planning, investments, business succession planning, and family wealth transfers.
