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Large Tax Bills Force Advisers to Sell Bonds, Stocks

By: Daisy Maxey, Wall Street Journal
March 27, 2014

Alan Clopine, CFO & Director of Tax Planning for Pure Financial Advisors, shares strategies for dealing with a high tax bill in Wall Street Journal’s article.

Alan Clopine, chief financial officer and director of tax planning at Pure Financial Advisors in San Diego, says his clients are also facing higher tax bills. In most cases, clients have cash or bonds that they can use to pay the bills, says Mr. Clopine, whose firm manages $950 million. Some clients took gains and still have cash sitting in their portfolios, but others have already reinvested those proceeds, which makes finding the money more difficult, he says.

“In that case, you’re selling something else in 2014 to pay 2013’s taxes, and then you start it all over again,” he says. “But for most of our clients, we’ve thought ahead so they have some way to pay it that’s not going to cause a big tax.”

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