Nationwide Financial

MARCH 6, 2023

Key Takeaways: Because the 2022 and 2023 standard deductions are relatively high ($27,700 in 2023 and $25,900 in 2022 for married couples filing jointly), it isn’t worthwhile for many taxpayers to itemize deductions. Tax season has begun, and it’s not too early to think about planning for the 2023 tax year.

Tax Planning 78

Tax Planning Taxes Planning Distribution 78

Harness Wealth

NOVEMBER 12, 2024

Frontloading 529 Contributions Contributions to 529 plans can also be frontloaded or “superfunded”, allowing you to make up to five years’ worth of contributions in a single year without incurring gift taxes. million in 2023. Here are two ways to incorporate tax planning into your estate planning process.

Tax Planning 52

Tax Planning Taxes Planning Estate Planning 52

Harness Wealth

MARCH 11, 2024

Taxpayers who fall into the top 3 tax brackets which in the 2023 tax year is anyone with income of $182,101 or more. Income is not taxed until you receive it, and for ultra-high-income earners, deferred compensation can help reduce tax liability by potentially keeping you in a lower tax bracket.

Startup 59

Startup Taxes Medical Retirement 59