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 Weekly Lonely Bull Blog

Taxes, Taxes, and More Taxes

The Biden administration has many proposals on the table for increasing taxes. These may just be opening bargaining positions and the net result will turn out to be different and perhaps less. However, it is likely that taxes are going higher. These include taxes on income for high earners, capital gains, corporations, estates, along with rule changes to prevent avoidance. Some of these could have disastrous impacts, especially for small and medium size businesses and their owners.

For instance, capital gains for earners over $1 million would be taxed at the maximum income tax rate. Selling a business would likely trigger this. By the time local and state levies are assessed the resulting rate could be over 50%. Half the value of a long-held firms could be lost to the government. Talk about impacting retirement plans for countless owners. There may be some ways to mitigate the impact, but it is obvious the damage to financial plans could be ruinous. We have identified some ways to get around this, but we cannot know this until the entire set of rules are set.

One obvious mitigating action that investors can immediately take is to use any tax loss carry forward amounts now. A highly appreciated asset can be sold and immediately bought back. This will trigger a recognition of the gain. If this is offset with losses, then there is no tax consequence, but the cost basis has been raised to the new current valuation. If the position is then sold for real in the future, the gain has been reduced because of that higher established cost. The Bull will discuss other tax mitigating strategies in future blogs. (If you have question as to your circumstances, consult your tax advisor.) Riverplace Capital will apply these for the benefit of our clients throughout the remainder of this year, Stay steady my friends.

The Lonely Bull

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The Importance of a Financial Plan

How You Can Get One At No Cost

This past year has been one for the history books, and one key takeaway is the importance of having a financial plan.  No one knows when the next crisis, recession, or unexpected event may arise.  Did you know that according to Charles Schwab, only 25% of Americans have a financial plan?  We have plans for so many things in our lives, whether it’s planning for something as simple as your day, planning your next vacation, or even your evacuation in case of a threat to your home.  Since we plan for many things in our lives, why do so many Americans not have a financial plan?  Is a financial plan even necessary?

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Who we are

Founded in 1998, Riverplace Capital is a private wealth management firm located in Jacksonville, Florida. We offer a full array of financial resources and specialties in Investment Management, Business Ownership, Real Estate, and Family Office services.  A fiduciary Registered Investment Advisory firm, we provide discreet, personalized, and individually tailored financial services to long-term investors.  Riverplace Capital Money Managers deliver top performance through financial planning and disciplined investing. We work together with you to enhance your investment results and income, manage your risk, and provide tax protection.

The Lonely Bull moniker reflects our independence of thought and unique hands-on approach to investing. Unlike most firms, you work directly with the people managing your money, not an intermediary. If you want to work with a firm that approaches investment differently from the others, Talk with Us!

CharitaBULL Giving

Riverplace Capital proudly supports the community.

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Why Choose Riverplace Capital?

Financial Performance

Financial Performance

At Riverplace Capital we hold ourselves to high performance standards and frequently meet or outperform industry benchmarks.

Investment Experience

Investment Experience

We have one century of combined investment experience and have been serving clients for 22 years.

Tax Protection

Tax Protection

We select individual securities that are more tax efficient than many financial products, planing the timing for buying and selling to best meet your tax needs.

Money Management

Money Management

We don’t farm out your portfolio or hire other firms. You work directly with the people managing your money, not an intermediary.

Independence

Independence

The firm’s Lonely Bull Moniker reflects our independence of thought and unique approach to investing.

Fiduciary/RIA

Fiduciary/RIA

As a fiduciary we act in your best interests, earning income based on your success. We do not sell insurance or financial products that charge additional commissions.