Harness Wealth

JANUARY 29, 2025

These contributions not only provide immediate tax relief but help secure longer-term financial stability during retirement. 401(k) Plans: Contribute the maximum allowable amount for 2024 : $23,000 if youre under 50, or $30,500 if youre 50 or older. Starting at $1,500 per year. Starting at $1,500 per year.

Taxes 52

Taxes Medical Distribution Tax Planning 52

Harness Wealth

MARCH 5, 2024

In this guide, we’ll explore the average fees of tax advisors in the US for 2024. Below, we’ll break down common examples of the different types of fees that tax advisors charge in 2024. Hourly Fee (Tax Attorney) Fee charged per hour of advice from a tax attorney.

Taxes 52

Taxes Tax Planning Education Ethics 52

Darrow Wealth Management

SEPTEMBER 26, 2024

This infographic has more on how a brokerage account is taxed. Tax planning opportunities in retirement If you only have assets in tax-deferred accounts, you may have fewer tax planning options in retirement. Tax-deductible contributions means distributions in retirement are taxable as regular income.

Accounting 94

Accounting Retirement Distribution Taxes 94

Darrow Wealth Management

JULY 30, 2024

For founders, employees, and executives with stock-based compensation, an 83(b) election can be a powerful tax planning tool. When you make an 83(b) election, you’re opting to pay tax on unvested shares now, instead of when the stock vests. It can also preclude some tax planning strategies down the road.

Taxes 92

Taxes Tax Planning Startup Valuation 92

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 December, your CPA and financial advisor can help in developing a tax projection for the year. How Incentive Stock Options are Taxed 3.

Taxes 59

Taxes Tax Planning Planning Financial Advisor 59

Harness Wealth

FEBRUARY 19, 2025

Ensure BOI reporting compliance and remain updated with the latest BOI regulations with a tax advisor from Harness. Get started Harness makes it easy to find tax and financial advisors best suited to your needs. Harness makes it easy to find tax and financial advisors best suited to your needs.

Taxes 52

Taxes Financial Advisor Consulting Certification 52

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 December, your CPA and financial advisor can help in developing a tax projection for the year. How Incentive Stock Options are Taxed 3.

Taxes 52

Taxes Tax Planning Planning Financial Advisor 52

Harness Wealth

FEBRUARY 5, 2025

The Internal Revenue Service (IRS) adjusts FEIE exclusion amounts annually based on inflation, with the exclusion amounts for the past 5 years being as follows: Tax Year FEIE Amount 2025 $130,000 2024 $126,500 2023 $120,000 2022 $112,000 That said, the FEIE only applies to foreign earned income, with foreign passive income ineligible for exclusion.

Taxes 52

Taxes Compliance Accounting Government 52

Darrow Wealth Management

FEBRUARY 19, 2024

A deep discussion of these strategies is outside the scope of this overview, and because every situation is so different, be sure to discuss your situation with your tax and financial advisor. With so many nuances in the tax system, always consult your tax and financial advisor before taking action.

Management 106

Management Taxes Portfolio Estate Planning 106

Zoe Financial

JANUARY 17, 2024

And I think it does feel like a passing the baton from the pioneers of, call it, technology for independent advisors to the next wave of founders and builders, and I have no doubt that many of these folks will join boards and will continue to mentor the next generation. But they did close tax prep.

Wealth Management 52

Wealth Management Management Taxes Asset Allocation 52

FMG

FEBRUARY 22, 2023

In the case of financial advisors, they need to find the marketing tactic that works best for their niche. For that reason, we’ll be taking a look at what marketing tactics financial advisors use, and how it’s worked out for them. The same goes for financial advisors and anyone else in the finance field.

Marketing 52

Marketing Marketing Financial Advisor Media 52

Darrow Wealth Management

JULY 30, 2024

For founders, employees, and executives with stock-based compensation, an 83(b) election can be a powerful tax planning tool. When you make an 83(b) election, you’re opting to pay tax on unvested shares now, instead of when the stock vests. It can also preclude some tax planning strategies down the road.

Taxes 52

Taxes Tax Planning Startup Valuation 52

Nerd's Eye View

DECEMBER 30, 2024

Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financial advisors including topics covering technical planning, practice management, advisor marketing, career development, and more.

Financial Advisor 240

Financial Advisor Insurance Tax Planning Taxes 240

WiserAdvisor

FEBRUARY 19, 2024

Overcoming these challenges can prove difficult if not addressed in retirement planning well in advance. A financial advisor can help you identify common retirement planning blind spots. This article will also uncover some of the key blind spots you need to be aware of in your retirement planning journey.

Retirement 66

Retirement Retirement Planning Healthcare Estate Planning 66

Harness Wealth

MARCH 9, 2023

In 2021, in its first attempt and an IPO, Reddit reported advertising revenues as high as $100 million per quarter, with forecasts of reaching $1 billion per quarter by 2024. Our startup equity tax advisors work with founders and employees from big names in tech, including Amazon, Zoom, Coinbase, Uber, and more.

Planning 52

Planning Taxes Advertising Commission 52

Harness Wealth

MARCH 24, 2023

billion to facilitate a tender offer for its early employees with double-trigger RSUs expiring in 2024. However, the 83(b) election carries risks and should be carefully considered with the help of a financial advisor. In 2023, Stripe raised $6.5

Taxes 52

Taxes Startup Wealth Advisor Financial Advisor 52

Darrow Wealth Management

NOVEMBER 14, 2024

For employees, federal tax withholding at exercise is typically required. When you sell the stock, there’s no required tax withholding, but you’ll still want to seek tax advice. Again, coordinate your plans with your financial advisor and CPA prior to exercising or selling stock options.

Taxes 52

Taxes Sales Wealth Management Planning 52

Harness Wealth

JUNE 9, 2023

While it may seem like a luxury that is only available to the wealthy, anyone is capable of building an effective financial plan and putting it into action. Without effective personal financial management, you risk losing money to poor budgeting, poor tax planning, or even just to inflation.

Financial Planning 52

Financial Planning Planning Financial Planner Wealth Management 52

Harness Wealth

APRIL 17, 2023

In the case of Stripe, for their 2023 tender offer, the payment processing company used the money raised to provide liquidity to many of its early employees holding double-trigger RSUs that were set to expire after 10 years in 2024.

Startup 52

Startup Taxes Risk Tolerance Sales 52

Carson Wealth

FEBRUARY 27, 2025

Like gardening or working out, tax planning is one of those activities where you get out what you put in. Tax planning is similar in the sense that you can put work in on the front end that youll reap benefits from later. Many of us just do tax preparation, dropping off a shoebox of documents with a CPA for the weekend.

Taxes 102

Taxes Tax Planning Distribution Planning 102

Nerd's Eye View

DECEMBER 28, 2022

These changes include aligning the rules for employer-retirement-plan-based Roth accounts (e.g., that may have a significant impact for some clients than there were in the original version, making it a more challenging bill for financial advisors and other professionals to contend with (yet providing many new potential opportunities)!

Tax Planning 246

Tax Planning Planning Taxes Retirement Planning 246

Nerd's Eye View

DECEMBER 28, 2022

will require the same level of urgency to consider before year-end changes to clients’ plans as did the original SECURE Act, nor will it have the same level of impact across so many clients’ plans as the elimination of the stretch, there are far more provisions in SECURE 2.0 Read More.

Tax Planning 246

Tax Planning Planning Taxes Retirement Planning 246

Darrow Wealth Management

NOVEMBER 11, 2024

Updated for 2024 – 2025. Because many taxpayers earn too much to make pre-tax IRA contributions as they have a 401(k) at work. Many people end up paying taxes twice. There are income limits for contributions to a traditional IRA that qualify for a tax deduction. See 2024 limits and 2025 limits.

Taxes 95

Taxes Distribution Retirement Retirement Planning 95

Nerd's Eye View

MARCH 15, 2024

Also in industry news this week: CFP Board this week announced changes to its Sanctions Guidelines and revisions to its Fitness Standards that clarify the factors that determine how potential sanctions are determined and revise the framework use to determine whether a candidate is eligible to become a CFP certificant The Financial Services Institute (..)

Financial Planner 246

Financial Planner CFP Taxes Tax Planning 246

Carson Wealth

AUGUST 1, 2024

Making the right decisions around claiming Social Security — based on your spending needs, longevity and tax planning — could mean the difference between meeting your retirement goals or not. 1 To qualify for Social Security retirement benefits, you must pay into it through a payroll tax system.

Retirement 143

Retirement Taxes Distribution Tax Planning 143

WiserAdvisor

MARCH 13, 2024

These pillars provide a comprehensive framework for building a resilient and sustainable plan. Adhering to these pillars can help you pave the way for a secure and fulfilling retirement supported by wise financial decisions and informed choices. Asset diversification is an essential component of effective tax planning.

Retirement Planning 105

Retirement Planning Retirement Planning Estate Planning 105

Nerd's Eye View

JULY 24, 2024

As a whole, these regulations introduce significantly more complexity to the process of tax planning around retirement accounts, particularly after the death of the account's original owner.

Distribution 190

Distribution Accounting Retirement Tax Planning 190

Nerd's Eye View

MARCH 15, 2024

Also in industry news this week: CFP Board this week announced changes to its Sanctions Guidelines and revisions to its Fitness Standards that clarify the factors that determine how potential sanctions are determined and revise the framework use to determine whether a candidate is eligible to become a CFP certificant The Financial Services Institute (..)

Financial Planner 130

Financial Planner CFP Taxes Tax Planning 130

Harness Wealth

JULY 29, 2024

In this guest post, Harness Tax Advisory Council member, Griffin Bridgers, J.D., covers some of the top estate planning trends that tax advisors should be tracking during the second half of 2024. However, awareness is key, both for clients and advisors. citizens and residents. The SECURE Act 1.0

Estate Planning 59

Estate Planning Taxes Planning Tax Planning 59

Carson Wealth

APRIL 25, 2024

Retirement planning: Calculate retirement needs and contribute regularly to retirement accounts. Tax Planning: Optimize tax efficiency through strategies such as retirement contributions, tax-deferred accounts, and deductions and credits. A Financial Advisor Can Help None of us knows what the future holds.

Financial Planning 97

Financial Planning Planning Retirement Insurance Coverage 97

Darrow Wealth Management

SEPTEMBER 11, 2024

So it’s important to consult a financial advisor and attorney to discuss your situation. Tax treatment of an inherited IRA or retirement account Most retirement accounts are funded with pre-tax dollars so distributions are fully taxable to you, the beneficiary, as regular income.

Accounting 94

Accounting Retirement Distribution Taxes 94

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. Let’s take a look at the tax impact and other considerations of each. million before triggering federal estate taxes). Inheritance Tax?

Planning 52

Planning Estate Planning Taxes Assets 52

Darrow Wealth Management

NOVEMBER 5, 2024

In addition, 7% of the amount excluded is a preference item for the alternative minimum tax. Remember, this is a summary of the tax implications for section 1202 of the tax code (as of 11/2024); it’s not tax advice! Discuss your situation with a tax advisor.

Taxes 62

Taxes Wealth Management Tax Planning Assets 62

Carson Wealth

FEBRUARY 29, 2024

Does that mean you need to worry about reporting every item given or received on your tax return? There are essentially three exemption amounts that you’ll need to remember: 2024 annual gift tax exclusion: $18,000 2024 lifetime gift tax exemption: $13.61 million 2024 estate tax exemption: $13.61

Taxes 96

Taxes Financial Planning Planning Estate Planning 96

Darrow Wealth Management

OCTOBER 1, 2024

Limiting access can provide estate tax planning benefits for some). Trust benefit #3: Trusts can help minimize estate taxes The federal estate tax exemption for married couples is $13.61M per person in 2024 and portable between spouses. Last reviewed October 2024] The post Should I Put My Assets in a Trust?

Assets 98

Assets Estate Planning Distribution Taxes 98

WiserAdvisor

NOVEMBER 7, 2022

In addition to the tax brackets, the IRS also announces deductions and allowances that help you lower your tax liability for the year. Consider reaching out to a professional financial advisor who can help you lower your taxability for the year. The tax system explained. 11,000 or less. 11,001 to $44,725.

Taxes 52

Taxes Financial Advisor Medical Government 52

Nerd's Eye View

NOVEMBER 1, 2024

Read More.

Financial Planner 188

Financial Planner CFP Certification Retirement Planning 188