Topics in Private Wealth Management - Part II (2024 Level III CFA® - Reading 21)

Prep Packages for the CFA® Program offered by AnalystPrep (study notes, video lessons, question bank, mock exams, and much more):
Level I: analystprep.co...
Level II: analystprep.co...
Level III: analystprep.co...
Levels I, II & III (Lifetime access): analystprep.co...
Prep Packages for the FRM® Program:
FRM Part I & Part II (Lifetime access): analystprep.co...
Topic 7 - Private Wealth Management
Reading 21 - Topics in Private Wealth Management - Part II
LOS : Discuss risk and tax objectives in managing concentrated single-asset positions.
LOS : Describe strategies for managing concentrated positions in public equities.
LOS : Describe strategies for managing concentrated positions in privately owned businesses and real estate.
LOS : Discuss objectives-tax and non-tax-in planning the transfer of wealth.

[@ditshegomosienyane7252]

Professor, I think you ought to explain what you mean by “tax basis”. In particular, you say that the lower the tax basis, the higher the tax liability. As, no doubt you know, in economics we often talk about a “low tax base” and talking about “the lower the tax basis” can be kind of confusing to an economist. Presumably in this context, the two, I.e. tax basis and tax base mean different things and therefore, it would help if you could at least explain what you are referring to by the expression “tax basis”.

[@gleeeva629]

Capital gain = Final value (Selling price) - Cost basis (Tax cost basis or tax basis), adjusted to depreciation

[@MouliBeesetti]

Why don't you use pen or mouse pointer to explain... Your explanation will be much better if you do it..