Wes Gray 🇺🇸

Are you fully optimizing your tax strategy? Many investors today are sitting on significant embedded gains in concentrated positions. That creates a difficult trade-off: realize gains and incur a tax drag, or continue to hold and accept concentration risk. But there may be another way. Like craftsmen, advisers have a toolkit they can draw from to solve a wide range of client challenges. Today, we want to introduce three additional tools to help expand that toolkit. Each strategy comes with its own trade-offs around liquidity, complexity, cost, and risk. The key is understanding how they fit within a client’s broader portfolio and tax situation. – If you believe a 351 exchange can help address portfolio and tax issues, we have good news! You can contribute your appreciated holdings to the Alpha Architect U.S. Equity 4 ETF ( $AAUB ) today. Simply email info@alphaarchitect.com and we’ll walk you through the next steps. Learn more: funds.alphaarchitect.com/aaub_prelaunch

New Post: Why the 351 Exchange Might Revolutionize Investing alphaarchitect.com/why-the-351-ex…

@DaveNadig @EricBalchunas @JackiWang17 i'd place it firmly in degen category. Amped with swap and who knows what to avoid RIC tax diversification requirements. Essentially a super concentrated high beta stock bet. But I hear you, not pure degen like 2x or 50% yield, etc.

@alphaarchitect @EricBalchunas @JackiWang17 Yeah, for everyone in the biz who's all "there are no ideas left..." Not even a Degen product, just a narrow theme!

$DRAM has $9.98B in assets, if we round up to $10B, it's also hit that mark faster than any other ETF ever. Here's a look at the fastest to $10b and how absurd 43 days is via @JackiWang17 (getting this out now bc looks like rough day in mkt, so that aum number be lower very soon)

@invertedfragil1 @TaxAlphaInsider @ptuomov Did not know that! I learn something new about PR every day it seems. And I've been here 5yrs+ at this point. Wild unique place

@alphaarchitect @TaxAlphaInsider @ptuomov Did you know native born Puerto Ricans have a “right” to residency in Spain and a faster naturalization route (2 years)? Potentially useful depending on the person/family, especially before they have any assets that can cause issues with the Spanish tax system.

calling on @TaxAlphaInsider and @ptuomov for 'most interesting esoteric tax fact of the day' BLUF: Not all US citizens are treated equally for estate tax purposes. A select few are exempt! ...native-born Puerto Rican whose US citizenship comes solely from PR...exempt for US estate tax... But you can't move here to take advantage. Need to be born in PR! @grok factcheck please.

@dincplanning @ptuomov @TaxAlphaInsider now these are the details we need to know!

@alphaarchitect @ptuomov @TaxAlphaInsider Do you at least get an exemption?

@grok can you add any other details or actual tax codes etc.

@invertedfragil1 @TaxAlphaInsider @ptuomov Yes.

@alphaarchitect @TaxAlphaInsider @ptuomov Sounds like I need to make sure my kids are actually born in PR

@LPInvestor @TaxAlphaInsider @ptuomov those are the details that are beyond my paygrade as a $0/hr tax attorney with no credentials whatsoever!

@alphaarchitect @TaxAlphaInsider @ptuomov The US territory tax treatment never ceases to amaze... Am I reading correctly that PR residents have no estate tax on their PR assets but any US domiciled assets (ie, real estate) have a fairly onerous estate tax up to 40% with only a $60k exemption?

@MebFaber Lol

Starting a high end surrogate company in PR...

@ptuomov @TaxAlphaInsider oh, she is well aware, i'm sure. ha

@alphaarchitect @TaxAlphaInsider And you don’t get a step-up basis in a divorce!

@ptuomov @TaxAlphaInsider lol. yeah, was given the same advice from my wife. but I was told that if i start from zero again with someone else, my estate tax would be 50%. LOL

@alphaarchitect @TaxAlphaInsider I currently have three and my wife has told me that if I want more I have to start from zero again with someone else,

Yeah, 3 is plenty for me. They are all born in the mainland. That ship sailed for me. But man, what an interesting little tidbit. I guess a billionaire could technically have a kid down here and pass on the estate tax-free. I'm sure there is some case/tax law around that. but very interesting nonetheless

@alphaarchitect @TaxAlphaInsider @ptuomov going to have some more kids to take advantage?

I have no comments on any fund or offering to be clear. But here is a cut/paste from our 'contact us' form. Tl'dr. Yes, we segment. Heavily. PLEASE READ FIRST We specialize in tax-free conversion transactions (e.g., “351 exchanges”, hedge fund conversions, and mutual fund conversions). These transactions are complex, and you need at least $100mm in capital to realistically consider these deals. You also must contribute “tax diversified” portfolios (single stock holdings won't work) to get the tax-free treatment. Read more here before filling the form out below. In addition to tax-free conversion requests, we receive numerous requests for standard ETF white-label services. Please be aware of the following before filling out this form: Launching an ETF is a serious endeavor. Please read the FAQ to ensure you are an informed consumer. Our platform is very selective and has minimum requirements to maintain low costs and efficiency for all white-label partners. We no longer consider ETF launches with less than $100mm in seed capital. Please be aware that the all-in costs of managing an ETF could be north of $200k/yr, and extensive compliance and transparency requirements exist. The ETF business is extremely competitive, and you should plan on a 5yr+ commitment to the business to succeed. ETFs cannot easily facilitate strategies that require extensive intraday execution or frequent trading (e.g. more than 2x a week)

Another signal is the issuer. e.g. you can go through all of the Tidal ETFs and find a lot of junk. @alphaarchitect on the other hand seems to have a quality filter on what they're willing to sponsor.

@Foulke_David lol. ya but harder for people to know what joe's chicken shack actually does

@alphaarchitect It's supposed to be Joe's Chicken Shack not a typewriter biz

Gun to your head. Which company do you buy as an investment? Cc @Foulke_David knows the right answer.

@JohnTinsman of course, not in the civilian world!!! best to just run away and tell cops. making sure thats on the record

@JohnTinsman well, the main lesson they teach you in the Marines is to never get in a fight you can't win. Dying sucks! And street brawling and knife fights never end well so run away and come back with a high powered rifle or machine gun. 🤣🤣🤣

@JohnTinsman Good pt. I guess u can't ask the gunman what the price is. Best answer: kick the gunman's ass, talk investing later

@alphaarchitect There is no time for that when you are holding a gun to our head 😭