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Domicile change considerations and ideas
for preserving your wealth from tax erosion
June 23, 2015
3:30 PM - 6:30 PM
4:00 – 5:30 PM
5:30 – 6:30 PM
New Haven Country Club
160 Hartford Turnpike
Please join us for a discussion about two topics that offer potential tax benefits.
ESTABLISHING TAX DOMICILE
Marcum LLP will discuss information you need to know if you are considering changing
your state of residency. Doing so raises the issue of whether the state that you left
can continue to tax you. We will discuss information that will be helpful when deciding
whether to become a resident of another state, such as:
Why it’s important to establish that you are a resident of a new state
Steps to take to show you are a resident of a new state
Common do’s and don’ts
AVOIDING WEALTH EROSION
U.S. Trust, together with Columbia Management, developed a comprehensive and highly efficient approach to investment tax reduction. We will focus on clarifying the current tax environment, as well as strategies investors can use as part of a diversified investment approach to help mitigate the wealth erosion effect.
Taxes have a significant impact on an investor’s net returns, depleting capital in a concept we call “wealth erosion.” In fact, over the last 10 years, investors lost an average of 1.1% of their total annual return due to taxes. Given the outlook for higher taxes and more muted returns, we believe it is paramount to focus on after-tax investment returns.
U.S. Trust, Marcum LLP, and Columbia Management understand the complex and unique needs of high-net-worth clients, and Columbia’s tax-efficient solutions provide a customizable approach that is designed to help optimize after-tax investment returns.
Michael F. D'Addio, JD Principal, Tax & Business Services, Marcum LLP
Michael D’Addio is one of the region’s leading tax attorneys. He has more than 35 years as a specialist in state and federal tax compliance and planning, and has extensive experience representing clients before the Internal Revenue Service, United States Tax Court, and other state and regulatory agencies. He is a frequent lecturer on a range of federal and state tax issues before client and business groups.
Barry A. Fischman, CPA Partner, Tax & Business Services, Marcum LLP
Barry A. Fischman is a partner in the Firm’s New Haven, Connecticut, office and a member of its National Construction, Real Estate, Business Enterprise Tax Services, High-Net-Worth Individuals, Tax Compliance, Family Wealth Services, and Trusts and Estates practice groups.
Michael J. Fulginiti, CFA Director and Senior Portfolio Manager, Columbia Management
Michael J. Fulginiti is a director and senior portfolio manager responsible for leading the Tax Efficient Structured Equity (TESE) efforts and custom passive equity strategies at Columbia Management Investment Advisers, LLC (CMIA). Mr. Fulginiti joined the firm in 1992 and has been a member of the investment community since 1982.