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Final Results of Tax Planning with Multiple Generations Case Study Provided by Gettry Marcus

Gettry Marcus CPA, P.C. discusses a case study on tax planning conducted by the firm, which includes multiple generations and a portfolio of properties.

WOODBURY, N.Y., Aug. 11, 2014 /PRNewswire-iReach/ -- Gettry Marcus CPA, P.C., a leading consulting, tax and forensic accounting firm, delivers results of a tax planning case study. The study discusses the difficulty of multiple generations with different properties.

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Gettry Marcus was asked by one of firm's largest family-owned real estate clients to structure the partnership allocations with respect to a pending acquisition of a portfolio of properties. The properties would be owned by three generations of the family. The objective was to allocate as much depreciation as possible to oldest generation so as to shelter significant taxable income from other sources. In all cases, however, the client did not want to take a position that would be overly aggressive.

Using the firm's deep technical knowledge of the very difficult partnership allocation regulations, Gettry Marcus came up with a proposal that allowed the partnerships to allocate a percentage of depreciation deductions to the oldest generation that was far in excess of its percentage interest in the partnership. These allocations were reviewed by a "Wall Street law firm" that ultimately agreed with our proposal. Gettry Marcus was able to bring tremendous value to the family.

To view additional case studies, visit the Gettry Marcus website.

Gettry Marcus CPA, P.C. is a top New York City and Long Island CPA firm with offices in Woodbury, Long Island and New York City. We provide accounting, tax, and consulting services to commercial businesses, high net worth individuals and various industries, which include real estate and health care. We have one of the premier and most credentialed business valuation, litigation and forensic accounting groups in the New York Area. Our experience in diverse industries and a highly talented and experienced professional staff gives us the ability to share valuable insights into our clients' businesses, to better understand their goals and problems and to help them attain the vision they have for their company.

Gettry Marcus is "Always Looking Deeper" to build value for our clients.

Media Contact: Fayellen Dietchweiler, Gettry Marcus CPA, P.C., 516-364-3390 x 225, fdietchweiler@gettrymarcus.com

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SOURCE Gettry Marcus CPA, P.C.

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