As part of the Wilmington Trust Emerald Family Office & Advisory team, Tom is responsible for developing customized and comprehensive wealth transfer and financial management plans for high-net-worth families and business owners throughout the United States. Tom’s areas of proficiency include estate and retirement planning, income tax strategies, investment planning, and charitable planning.
Prior to joining Wilmington Trust, Tom held various senior tax and wealth planner positions with Bank of America and Brown Advisory.
Tom holds a master’s degree in taxation from the University of Baltimore and a bachelor’s degree in business administration, with a concentration in finance and minor in economics, from Towson University. He is a Certified Public Accountant (CPA) in Maryland, Certified Financial Planner certificant (CFP), and an Accredited Estate Planner (AEP) through the National Association of Estate Planning Councils.
Tom is a member of the American Institute of Certified Public Accountants (AICPA), the Baltimore Estate Planning Council, and the Maryland Association of Certified Public Accountants.
Feb. 8, 2022— Ever since the Tax Cuts and Jobs Act was passed in 2017, certain taxpayers have felt the pain of limited SALT deductions on their federal tax returns. While this limit is set to expire at the end of 2025, there are a few ways to optimize the deduction today.
November 3, 2020— A common mistake some people make is once they create a trust, they forget about it. They don’t see that ongoing evaluation of the trust and its tax basis can potentially yield income tax benefits down the road. Director of Income Tax Planning Tom Kelley discusses how you can potentially reduce your income tax liability by proactively managing the assets in your family’s trusts.
June 23, 2020— While the current volatile market conditions and overall economic landscape may have your investment and business decisions top of mind, an important area of planning that can be deployed during this time is tax planning.
June 16, 2020—With the economy and markets in turmoil, you may be asking: How do I use the losses in my portfolio to my advantage? Director of Income Tax Planning Tom Kelley, discusses how to turn a market loss into a gain through tax-loss harvesting. In times like these, it is important to recognize that harvesting these losses now, when done appropriately, helps enable tax savings today and potential tax savings in the future.
