Harness Wealth

DECEMBER 8, 2022

If you hold private company stock with a low cost basis, you may want to consider giving that now, either directly or via a trust, to avoid any potential gift taxes or material usage of your lifetime gift exemption, which is the amount you can gift in your lifetime without incurring federal gift taxes. at the federal level.

Tax Planning 52

Tax Planning Taxes Planning Estate Planning 52

Integrity Financial Planning

SEPTEMBER 11, 2023

Most retirees take the standard deduction on their taxes as opposed to choosing to itemize. [1] 1] But, as of the 2017 Tax Cuts and Jobs Act, the only way to benefit tax-wise from donations is to opt to itemize. [1] You are encouraged to consult your personal tax advisor or attorney.

Retirement 98

Retirement Taxes Distribution Tax Planning 98

Darrow Wealth Management

MARCH 24, 2024

6 tax strategies for incentive stock options and AMT Triggering the alternative minimum tax isn’t the end of the world, but you don’t want to do it by accident. By the end of the year, you already know most of the tax inputs so your CPA and financial advisor can help in developing a tax projection.

Taxes 59

Taxes Tax Planning Planning Financial Advisor 59

Yardley Wealth Management

MARCH 1, 2022

Part 3: Tax-Wise Financial Planning In our last two pieces, we covered some tools of the tax-planning trade, as well as how to deploy them for tax-efficient investing. But tax planning isn’t just for your investments. But we can weave each event into the tax-planning fabric of your financial life.

Financial Planning 52

Financial Planning Taxes Planning Tax Planning 52

Yardley Wealth Management

MARCH 1, 2022

Part 3: Tax-Wise Financial Planning. In our last two pieces, we covered some tools of the tax-planning trade, as well as how to deploy them for tax-efficient investing. . But tax planning isn’t just for your investments. Each can translate into tax-planning challenges and opportunities: .

Financial Planning 52

Financial Planning Taxes Planning Tax Planning 52

Darrow Wealth Management

JULY 1, 2024

The 2017 Tax Cuts and Jobs Act (TCJA) brought sweeping changes to the tax code, impacting every taxpayer and business owner. At that point, many provisions will revert to 2017 levels, adjusted for inflation. For example, in 2017, the marginal tax brackets were 10%, 15%, 25%, 28%, 33%, 25%, and 39.6%.

Taxes 52

Taxes Tax Planning Planning Estate Planning 52

Darrow Wealth Management

MARCH 29, 2024

There are two AMT tax rates: 26% and 28%. AMT exemptions and phase out were increased significantly in the 2017 Tax Cuts and Jobs Act. Tax and financial planning with stock options Not every individual with incentive stock options will have tax planning options to consider.

Taxes 96

Taxes Tax Planning Planning Wealth Management 96

Darrow Wealth Management

MARCH 24, 2024

6 tax strategies for incentive stock options and AMT Triggering the alternative minimum tax isn’t the end of the world, but you don’t want to do it by accident. By the end of the year, you already know most of the tax inputs so your CPA and financial advisor can help in developing a tax projection.

Taxes 52

Taxes Tax Planning Planning Financial Advisor 52

Harness Wealth

MARCH 27, 2025

However, it can be particularly problematic when federal tax regulations undergo significant changessuch as the implementation of the federal State and Local Tax (SALT) deduction limit. The SALT deduction cap The Tax Cuts and Jobs Act of 2017 imposed a $10,000 cap on the federal deduction for state and local taxes (SALT).

Taxes 52

Taxes Compliance Consulting Financial Planning 52

Harness Wealth

APRIL 17, 2023

In this article, we’ll discuss: Who Pays the Alternative Minimum Tax? AMT could apply to you if your regular income tax calculation results in a lower tax liability than the AMT calculation. Tax services provided through Harness Tax LLC. How is AMT Calculated? As a result, fewer taxpayers are subject to AMT.

Taxes 52

Taxes Tax Planning Planning Investments 52

Harness Wealth

DECEMBER 30, 2024

An 83(i) election is an IRC provision that allows certain employees of private companies who receive RSUs or NSOs to defer federal income tax on the exercise or settlement of their stock for up to 5 years. Before 2017, employees who received RSU or NSO equity compensation faced a dilemma.

Taxes 52

Taxes Compliance Compensation Planning Financial Advisor 52

Darrow Wealth Management

JANUARY 9, 2023

is just another massive change in tax law in the last few years. Starting with the 2017 Tax Cuts and Jobs Act, then the 2019 Secure Act 1.0, it’s clear that investors need to be adaptive in tax planning. illustrates the importance of revisiting your retirement and tax planning strategy annually. ¹

Accounting 59

Accounting Taxes Tax Planning Distribution 59

Zajac Group

NOVEMBER 7, 2024

Creating wealth that can provide financial security for generations to come is an incredible feat, and it requires careful planning, consideration, and communication among family members. And for those with equity compensation in the mix, some extra consideration is required.

Planning 52

Planning Estate Planning Taxes Assets 52

Harness Wealth

JANUARY 10, 2025

Employees working remotely due to company policies are not eligible, as the 2017 Tax Cuts and Jobs Act removed home office deductions for W-2 employees. To claim the deduction, taxpayers must meet specific eligibility requirements, with self-employed workers typically benefiting more from this provision.

Taxes 52

Taxes Assets Media Education 52

Harness Wealth

JULY 29, 2024

Sunset of the Tax Cuts and Jobs Act While a handful of the changes to tax law under the Tax Cuts and Jobs Act of 2017 (the TCJA) have been made permanent (such as the C corporation tax rate and the changes to the income tax treatment of alimony), many of the TCJA changes will sunset as of December 31, 2025.

Estate Planning 59

Estate Planning Taxes Planning Tax Planning 59

Darrow Wealth Management

MARCH 29, 2024

There are two AMT tax rates: 26% and 28%. AMT exemptions and phase out were increased significantly in the 2017 Tax Cuts and Jobs Act. Tax and financial planning with stock options Not every individual with incentive stock options will have tax planning options to consider.

Taxes 52

Taxes Tax Planning Planning Wealth Management 52

Carson Wealth

FEBRUARY 29, 2024

Tax Cuts and Jobs Act Impact on Gift Tax – Act Now! The lifetime gift tax exemption and the estate tax exemption are at such high levels because of the Tax Cuts and Jobs Act of 2017 (TCJA). Then, if no other legislation is passed, the estate tax levels would revert back to pre-TCJA levels.

Financial Planning 96

Financial Planning Taxes Planning Estate Planning 96

Yardley Wealth Management

OCTOBER 13, 2021

For example, as reported by Dimensional Fund Advisors, $1 invested in the S&P 500 Index from 1926–2017 would have grown to $533 worth of purchasing power by the end of 2017, after adjusting for Inflation. Over time, global stock market returns have dramatically outpaced Inflation.

Retirement Planning 52

Retirement Planning Retirement Wealth Accumulation Wealth Management 52

James Hendries

DECEMBER 11, 2022

Tax Planning – Have necessary steps been taken toward filing required business and individual tax returns, so they get filed on time? The type of business will determine the tax consequence. Tax Changes. The Tax Cuts and Jobs Act of 2017 (TCJA) lowered the corporate income tax rate from 35 percent to 21 percent.

Planning 52

Planning Taxes Insurance Accounting 52

Fortune Financial

FEBRUARY 4, 2024

The share of non-retirees who thought their retirement saving was on track was also below the shares who thought their saving was on track in 2017 through 2020.” Fidelity Investments sets a clear savings trajectory to maintain your lifestyle into retirement, and reaching these milestones can be more attainable with strategic tax planning.

Retirement 59

Retirement Retirement Planning Distribution Taxes 59

Brown Advisory

AUGUST 1, 2019

Paying tax now instead of later goes against the grain of conventional tax planning. the practice of “hitting the undo button” on a Roth conversion) is no longer allowed under the current tax code. charity, then conversion will likely result in a tax hit to the owner, in exchange for a long-term benefit to the charity.

Planning 52

Planning Distribution Taxes Accounting 52

Brown Advisory

AUGUST 1, 2019

Paying tax now instead of later goes against the grain of conventional tax planning. the practice of “hitting the undo button” on a Roth conversion) is no longer allowed under the current tax code. charity, then conversion will likely result in a tax hit to the owner, in exchange for a long-term benefit to the charity.

Planning 52

Planning Distribution Taxes Accounting 52

Harness Wealth

MARCH 11, 2024

Additionally, if the donation consists of appreciated securities or assets, the donor can avoid capital gains taxes that would otherwise arise from selling those assets. These taxes can include state and local property taxes, income taxes, and sales taxes.

Startup 59

Startup Taxes Medical Retirement 59

Brown Advisory

APRIL 1, 2020

Many clients have not fully utilized the augmented exemptions for wealth transfer taxes (estate, gift, and generation-skipping tax) provided by the 2017 Tax Act , which will automatically expire at the end of 2025 (and which might be legislatively modified sooner). GIFT AND ESTATE TAX PLANNING Outright Gifting.

Strategic Planning 52

Strategic Planning Planning Marketing Marketing 52

Brown Advisory

APRIL 1, 2020

Many clients have not fully utilized the augmented exemptions for wealth transfer taxes (estate, gift, and generation-skipping tax) provided by the 2017 Tax Act , which will automatically expire at the end of 2025 (and which might be legislatively modified sooner). GIFT AND ESTATE TAX PLANNING.

Strategic Planning 52

Strategic Planning Planning Marketing Marketing 52

The Big Picture

AUGUST 15, 2023

You still had 2012 to 2017 to finish the bet. It’s part of their own tax planning. It’s much more about security selection and a relatively static portfolio construction. So I think that argument is very valid in those couple of years, 2009, 2010 probably, maybe 2011, which was a tough year for hedge funds.

Management 130

Management Investments Investing Government 130

Brown Advisory

APRIL 30, 2021

To pay for these programs and tax cuts, the president has proposed several tax increases that could impact wealthy individuals and high earners (specific tax increase proposals are summarized below). Tax Increases proposed in the The American Families Plan to raise $1.5

Planning 52

Planning Taxes Clients Tax Planning 52

Brown Advisory

APRIL 30, 2021

To pay for these programs and tax cuts, the president has proposed several tax increases that could impact wealthy individuals and high earners (specific tax increase proposals are summarized below). Tax Increases proposed in the The American Families Plan to raise $1.5

Planning 52

Planning Taxes Clients Tax Planning 52

The Irrelevant Investor

JANUARY 2, 2021

If Biden has it his way, corporations will pay more taxes than they have in the recent past. Cembalest notes, "In aggregate, Biden’s corporate tax plans would raise $2.2 trillion compared to corporate tax cuts of $740 billion provided by Trump’s 2017 bill. multiplier effects)."

Taxes 52

Taxes Assets Government Tax Planning 52

Harness Wealth

MARCH 13, 2023

Home Mortgage Interest Deduction: Under the TCJA, the tax deduction for mortgage interest is limited to interest on up to $750,000 of debt on a primary or secondary residence. However, the $1 million limit still applies to mortgages taken out before December 15, 2017. This limit was previously set at $1 million.

Taxes 59

Taxes Tax Planning Planning Retirement 59

Sara Grillo

SEPTEMBER 11, 2023

Tax questions we should ponder more deeply Advisors are working on a way that is outdated when it comes to IRMAA planning. An example is how tax planning is handled. The financial industry is geared towards helping people save as much in taxes today as humanly possible. But are taxes going up or down in the future?

Planning 111

Planning Financial Advisor Taxes Retirement 111

Harness Wealth

JANUARY 28, 2025

These adjustments can affect the timing of when to realize gains, so its important to stay continually informed or consult a professional tax advisor. The Tax Cuts and Jobs Act (TCJA) is a major tax reform law enacted in December 2017, which introduced widespread changes to both individual and corporate tax policies.

Taxes 52

Taxes Planning Retirement Estate Planning 52

Brown Advisory

JUNE 28, 2017

Tax Reform, Then & Now: A Conversation with Tax Policy Expert John E. Chapoton achen Wed, 06/28/2017 - 13:28 Since the election in November 2016, investors have been watching for signs of how tax reform might proceed under the Trump administration.

Taxes 52

Taxes Economy Clients Government 52

Brown Advisory

JUNE 28, 2017

Tax Reform, Then & Now: A Conversation with Tax Policy Expert John E. Wed, 06/28/2017 - 13:28. Since the election in November 2016, investors have been watching for signs of how tax reform might proceed under the Trump administration. That said, we are working with clients in two ways with regard to tax reform.

Taxes 52

Taxes Economy Clients Government 52

Calculated Risk

MAY 22, 2023

See: The Failed Promises of the 2017 Tax Cuts and Jobs Act (TCJA). A couple of quote: “Not only will this tax plan pay for itself, but it will pay down debt,” Treasury Secretary Steve Mnuchin, Sept 2017 “I think this tax bill is going to reduce the size of our deficits going forward,” Sen.

Budgeting 363

Budgeting Taxes Economy Economics 363

Calculated Risk

MAY 21, 2024

See: The Failed Promises of the 2017 Tax Cuts and Jobs Act (TCJA). A couple of quotes: “Not only will this tax plan pay for itself, but it will pay down debt,” Treasury Secretary Steve Mnuchin, Sept 2017 “I think this tax bill is going to reduce the size of our deficits going forward,” Sen.

Taxes 321

Taxes Budgeting Economy Economics 321

The Big Picture

OCTOBER 3, 2023

Starting at the beginning of the administration in 2017. We dive deep into all sorts of things about running businesses, managing risk, and then when we began talking about his public sector service, we went deep into the Tax Cuts and Job Act of 2017. Anyone who lives in California, it’s clearly not a tax cut for them.

Taxes 280

Taxes Banking Clients Management 280