2025 Estate Planning Tax Planning 
Harness Wealth
NOVEMBER 12, 2024
As the year comes to a close, now is the time to review potential financial moves to help minimize your tax burden heading into 2025. Proactive year-end tax planning can lead to significant savings and set you up for financial success in the new year. What is the Lifetime Gift Tax Exemption? million ($27.22
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. contained a number of changes relevant to estate planning. citizens and residents. citizens and residents.
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Nationwide Financial
MARCH 6, 2023
Informally fund nonqualified deferred compensation plans If the business has a nonqualified deferred compensation plan for key employees, it may make sense to informally fund that plan in 2023 to ensure the company has the cash flow to meet the future obligation. A few have already been mentioned.
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. Estate planning.
Harness Wealth
JUNE 23, 2023
Estate planning is a critical component of a comprehensive financial plan. Furthermore, estate planning includes aspects such as tax minimization strategies, asset protection, and charitable giving. There are many different types of trusts, each designed to address specific estate planning needs.
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. The TCJA has many provisions that are set to expire (sunset) at the end of 2025. In addition, the SALT cap, currently $10,000 per tax return (not per person) will be eliminated.
Carson Wealth
FEBRUARY 29, 2024
It’s a simple, human act – one that seems like it shouldn’t take too much planning to do it correctly. But when does gifting become a tax issue? What do you need to consider about gifting as it relates to your overall estate plan? Taxes on Giving??? Why do you have to pay taxes on money you’re giving away?
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