Altfest L J & Co

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Today: 8:30 am - 6:00 pm

Tomorrow: 8:30 am - 6:00 pm

(212) 406-0850Visit WebsiteMap & Directions445 Park AveNew York, NY 10022 Write a Review

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Hours

Regular Hours

Mon - Fri:	8:30 am - 6:00 pm

Places Near New York with Investments

Long Island City (3 miles)
Astoria (4 miles)
Hoboken (6 miles)
Jackson Heights (7 miles)
Elmhurst (8 miles)
Jersey City (10 miles)
Forest Hills (11 miles)
Brooklyn (12 miles)
Flushing (13 miles)
Bronx (14 miles)

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Extra Phones

Phone: (212) 406-0867

Phone: (646) 840-3871

TollFree: (888) 525-8337

Neighborhoods

Midtown Manhattan, Midtown, Midtown East

AKA

L J Altfest & Co

Altfest Personal Wealth Management

Altfest Personal Wealth

Other Links

http://www.altfest.com

https://www.altfest.com/contact

https://www.altfest.com/altfest_barrons_top_100_independent_wealth_advisors

Categories

Investments, Financial Planners, Financial Planning Consultants, Financial Services, Investment Advisory Service, Investment Management, Investment Securities, Mutual Funds, Retirement Planning Services, Stock & Bond Brokers

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Details

Phone: (212) 406-0850

Address: 445 Park Ave, New York, NY 10022

Website: http://www.altfest.com

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Altfest L J & Co

Tax Planning
At Altfest, we stand ready to help you find the most beneficial ways to plan for tax time. We know everyoneâ€™s scenario is unique, so reach out to our firm with any tax planning, financial, or estate planning questions you may have. Altfest advisors will review your circumstances and offer ideas about which strategies could best serve you and your family.
Charitable Giving
Depending on what funds you have available for giving overtime, there are ways to make a large contribution in one year, and then allocate it out over multiple years. That uses a donor-advised fund, or â€œDAF.â€ Usually, the minimum to put in is $5,000, but if you have appreciated stock, that also qualifies. You don’t pay the capital gains on appreciated stock in a vehicle like that. With a DAF, you can try to aggregate your charitable giving if you’re not much over the typical standard deduction.
Estate Taxes
Tax Services
The standard deduction for individuals in the TCJA nearly doubled to $12,000 from $6,500 per filer and has continued to increase yearly, but it will drop back once the act sunsets. Medical expense deductions, mentioned earlier, will rise back to 10%, from 7.5% of your adjusted gross income. Charitable contributions, which are limited now to 60% of your adjusted gross income, will decline to 50% at the end of the TCJA regulations. On the positive side, though, some itemized deductions that were eliminated by the act, such as deducting accountant and tax preparation fees, are likely to be reinstated for 2026.
Roth IRA
A lot of our physician clients have accumulated their wealth through their retirement plans. And at age 75, they’re going to have to start taking that money out and paying taxes on it. But before they do that, if retired, they can shift to a lower tax bracket and start to take more income while they’re in that lower tax bracket by doing things like converting to a Roth IRA, which requires you to pay taxes on the amount converted today, but you won’t have to take the money out of the account right away which means you can let it grow tax free and withdraw the now larger sum years later tax free.
Real Estate Taxes
For property and real estate taxes, we have the state and local tax, or â€œSALT,â€ deduction that limits how much tax you owe on those items. For example, in New York and New Jersey, itâ€™s currently $10,000, or $5,000 per spouse filing jointly. SALT limits were established in the Tax Cuts and Jobs Act (TCJA), the legislation that will sunset in 2025 unless Congress votes otherwise, which we see as unlikely.
Tax Deductions
If you are old enough and have a higher income, itâ€™s likely you have participated in the Alternative Minimum Tax. Before the TCJA changes, in the New York-New Jersey area, if you had high earnings and you took itemized deductions and your income went under a certain level, you hit what was called the Alternative Minimum Tax, which required you to pay at least a certain amount over the earnings. But because you had high state tax deductions and you had high real estate tax and other exemptions, your tax bracket could be lowered. Let’s say you are in the 33% tax bracket, but you can bring yourself down to 20% through deductions at present. In the future, however, the amount of your income considered taxable is going to rise again, once the TCJA expires.
Income Tax
This privileged tax treatment across three forms of government taxation is often referred to as triple tax exemption. As you can imagine, the tax advantage offered by muni bonds can offer significant value to individuals that are in a high tax bracket, particularly those who reside in states that have a high state income tax. The attractiveness of the option to lock in tax-adjusted yields for high-quality bonds in your portfolio is much greater now than it was a few years ago.

Investment Management
We carefully review your current portfolio and offer smart suggestions to match your goals and reduce risk. Benefit from our Total Portfolio Management (TPMÂ®).
Mutual Funds
Bonds
Wealth Management
The purpose of this privacy policy is to explain to you Altfest Personal Wealth Managementâ€™s (â€œwe,â€ â€œour,â€ or â€œusâ€ ) specific practices regarding our use of information about you that you provide to us and information we collect about you from other sources.Â This policy is also intended to meet our privacy obligations to you under applicable privacy laws, including the Gramm-Leach-Bliley Act (â€œGLBAâ€ ) and Securities and Exchange Commissionâ€™s Regulation S-P (â€œRegulation S-P), as well as comply with any obligations we may have under state law and under the European Unionâ€™s General Data Protection Regulation (â€œGDPRâ€ ).Â This policy, which becomes effective on December 1

Financial Planning
Frisco Financial Planning LLC is a financial planning firm and registered Investment Adviser located in Frisco, Texas. Offering objective financial planning and investment strategies on a fee-only basis from a Christian Worldview perspective. Serving Frisco, McKinney, Allen, Dallas, Fort Worth, Texas, and clients Nationwide since 2004.
Retirement Planning
What we hear often from clients is that they want help with a wide range of aspects of their finances, whether it’s retirement planning, tax strategies or estate planning that may involve making sure that costs and assets are being transferred to the right people at the end of life. When we think about physicians, each one is in a unique situation. When considering your own financial needs, it may help to take a lifecycle approach. Hereâ€™s one example of this strategy Iâ€™d like to share.
Long Term Care
Another thing to think about is long-term care planning. This is the time that you’ll want to consider how long-term care costs are going to be covered in retirement and whether those should be insured. All of these topics are things that we’re regularly helping our physician clients with in the pre-retirement years.
Asset Management
*Crainâ€™s Custom editors choose candidates based on their professional, civic and philanthropic achievements. For Notable Women in Finance, they only considered candidates working in asset management, banking, capital markets or credit cards who worked within the five boroughs of NYC. They often try to choose candidates who greatly contribute to the advancement of women in their workplace or industry as a whole.
College Funding
Instead, itâ€™s recommended that you make a college-expense gift later on, because of the two-year lookback used to measure college funding. When the school looks back two years during the studentâ€™s senior year, in this case, the money was not there, and it will never affect any of the scholarships your student may be eligible for.

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