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Key Takeaways & Insights

The decision to hold or sell a short-term investment that’s appreciated in value depends on many factors. In Don’t Sell Me Short, Len Schlangel and Jim Lebenthal outline some key tax considerations.

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  • The length of time you’ve owned an investment at the time of sale can impact your tax liability and possibly your net proceeds.
  • Running different scenarios is an effective way to understand the potential implications before you sell.
  • Consider working with a professional advisor who can help you evaluate the tax obligation based on your overall financial picture.

Meet the Author

Leonard Schlangel

Partner

Len is a Partner in the New York office and has more than 30 years of wealth management experience, specializing in taxes, financial planning and investment advice for individuals and their related entities.

Prior to joining Cerity Partners, Len was a Senior Managing Director at Lebenthal Family Office LLC where he provided a full array of wealth management services to his clients. Prior to joining Lebenthal in 2007, he was at Executive Monetary Management Inc., a unit of Lehman Brothers.

Len has a Masters of Business Administration in Accounting and an Advanced Professional Certificate in Taxation from New York University’s Stern School of Business and a Juris Doctorate from New York Law School. He is a CPA and a member of the New York State Bar.

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James Lebenthal

Partner

Jim is the firm’s Chief Equity Strategist and a Partner in the New York office. He has over twenty-five years of experience managing investment portfolios, and is a regular contributor on CNBC.

Prior to joining Cerity Partners, Jim served as the Chief Executive Officer and Chief Investment Officer of Lebenthal Asset Management LLC, where he developed, advised and served client relationships. Prior to joining Lebenthal Asset Management in 2007, he was a financial advisor for Goldman Sachs and a partner of investment firm Levy Harkins.

Jim currently serves as the Chairman of the Board of Trustees of Mizzentop Day School and as a Director of the Akin Hall Historical Association. He was a Lieutenant of and qualified as a nuclear submarine engineer in the United States Navy where he was awarded 2 Navy Commendation Medals and 4 Navy Achievement Medals.

Jim holds a BA in molecular biology from Princeton University, an MBA from The Wharton School of Business, and a Chartered Financial Analyst designation.

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