An increase in income tax rate means you'll pay a higher percentage of your income to the government. This directly reduces your disposable income, the money you have left after taxes for spending or saving. This can make it harder to afford basic necessities, save for retirement, or invest in your future.
The Michalzuk Group, at Morgan Stanley Private Wealth Management, Joins Family Enterprise USA as Sponsor
The Michalzuk Group Becomes Family Enterprise USA Sponsor to Help Raise Awareness, Educate Congress on Critical Family Business Issues
The Michalzuk Group, part of Morgan Stanley’s Private Wealth Management division, has joined forces with Family Enterprise USA as a new sponsor to promote, raise awareness, and educate Congressional leaders on the importance of family business to the economy.
The Michalzuk Group, part of Morgan Stanley’s ultra-high net worth Private Wealth Management offering, provides resources and institutional execution to the 12 families they serve.
Family Enterprise USA, based here, promotes multi-generational family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress on Capitol Hill.
According to research, America’s multi-generational family-owned businesses contribute $7.7 trillion annually to the U.S. gross domestic product. Family businesses are the largest private employers in the country, accounting for 83.3 million jobs, or 59 percent of the country’s private workforce, the research shows.
The Michalzuk Group, based in Scottsdale, Ariz., was founded on the concept of simplifying the complexities of multi-generational wealth, according to Kevin Michalzuk, Executive Director, Private Wealth Advisor.
“We seek to be dedicated to the nuanced complexities of our client’s wealth, so they can focus on their passions,” said Michalzuk about the firm.
“We’re excited to sponsor Family Enterprise USA and to help address the many complex issues family businesses face today,” he said. “The work Family Enterprise USA does in educating and raising awareness for family business issues is also part of our mission in helping the long-term success of large family-owned enterprises,” he said.
Each year, Family Enterprise USA publishes a Family Business Survey that details the state of family businesses in the U.S.
The newest report, soon to be released and based on a survey from nearly 800 family businesses and family offices, found the top three tax policies facing family businesses are income taxes, estate taxes, and payroll taxes. At the same time, the survey found the top economic policy worries are reducing the federal budget, reducing income taxes, and reducing regulations.
“We’re delighted to have The Michalzuk Group as a sponsor and to have their expertise on high-net-worth family issues available to share with us,” said Pat Soldano, President, Family Enterprise USA. “We look forward to having them as part of our growing voice in Congress and around the country,” she said. “Our work, including the new results from our survey, play a strong role in educating Congress, and the members of the growing Congressional Family Business Caucus, on the importance of family businesses to the economy.”
About The Michalzuk Group at Morgan Stanley
The Michalzuk Group is a multi-family office founded to simplify the complexities of multi-generational wealth. The Michalzuk Group currently serves 12 enterprising families. As a part of Morgan Stanley’s boutique ultra-high net worth Private Wealth Management offering, the group is able to provide the resources and institutional execution of one of the largest and most respected global financial service firms.
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That's why Family Enterprise USA is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates, possible elimination of valuation discounts, increase in capital gains tax, enactment of a wealth tax, and the continued burden of the gift tax, estate tax and generation skipping tax.
Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.
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