Crain Currency interviewed Private Client Services Leader Jo Anna Fellon for an article about tax saving strategies for family offices in 2023.
By Marcus Baram
“More than ever, family offices are using this time of uncertainty to take a pause and reflect,” said Jo Anna Fellon, national leader of private client services at Marcum LLP in New Jersey. Many of her family-office clients are facing higher tax burdens due to appreciation of their assets, she said. “As a result, they’re looking for opportunities like utilizing more tax loss harvesting” as well as increasing their use of gifts and interfamily loans, Fellon said.