Harness Wealth

JANUARY 29, 2025

April 15 marks the IRS tax return filing deadline for 2025. Although this is the traditional tax filing deadline, given the spate of recent natural disasters (such as the California wildfires and Hurricane Milton), the IRS is granting certain filing and payment extensions beyond this date.

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Taxes Medical Distribution Tax Planning 52

Nerd's Eye View

SEPTEMBER 6, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that the Treasury Department has finalized rules requiring most SEC-registered RIAs to implement risk-based Anti-Money Laundering and Countering the Financing of Terrorism programs, including a requirement to report suspicious (..)

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Financial Planner Tax Planning Compliance Financial Advice 246

Nerd's Eye View

MAY 31, 2023

However, even though the PTET can result in higher state taxes, the savings in Federal taxes that can result from being able to deduct the PTET as a business expense (including not just income tax but potentially self-employment taxes, net investment income tax, and additional Medicare taxes as well) might still make the election worth it overall.

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Taxes Planning Tax Planning Numbers 246

Harness Wealth

FEBRUARY 4, 2025

Alternative investments offer investors access to startups, real estate, and other non-traditional opportunities beyond stocks and bonds. In this article, well explore all the details of alternative investments, the reasons behind their growth as an investment choice, and how their tax treatment differs from traditional assets.

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Taxes Investing Investments Startup 52

Nationwide Financial

MARCH 6, 2023

For example, they could make most of their charitable contributions and medical expenditures in a year they plan to itemize. Like individuals, businesses holding investments and other capital assets should consider other income, gains, and losses when determining when to sell capital assets.

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Tax Planning Taxes Planning Distribution 78

Carson Wealth

FEBRUARY 4, 2025

While most taxpayers dont need to worry about estate and gift taxes, having significant assets can make them a challenge. Also, like most UHNW individuals, you may have income from several sources like investments, real estate, and business interests that may require special tax planning. Donate to qualified charities.

Risk Management 52

Risk Management Compliance Taxes Management 52

Darrow Wealth Management

JANUARY 16, 2025

Then its a step-down in tax basis to the date of death value. If you sell at a loss, you can offset other investment gains plus an additional $3,000 against other taxable income in 2025. If your loss is greater than this amount, you can carry it forward to future tax years.

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Assets Estate Planning Taxes Wealth Management 98

Harness Wealth

DECEMBER 8, 2022

Tax-loss harvesting. Paying taxes on investment gains can be a financial burden, but tax loss harvesting can reduce your bill. Tax loss harvesting involves selling losing investments to offset capital gains, thus limiting the taxes you owe. Did you have a liquidity event in 2022?

Tax Planning 52

Tax Planning Taxes Planning Estate 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. 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.

Taxes 101

Taxes Tax Planning Planning Estate Planning 101

Indigo Marketing Agency

DECEMBER 17, 2024

What many of them dont realize is that seeing big results doesnt have to mean investing major amounts of time or money. Example topics: 5 Tips for Navigating Market Volatility or How Elections Impact Investment Strategies. Lets make your 2025 marketing strategy one that delivers big results with small, intentional actions.

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Marketing Marketing Financial Advisor Clients 52

Harness Wealth

OCTOBER 8, 2024

Key Takeaways: T ax Season Start: The IRS will likely begin accepting 2024 tax returns between January 15 and 31, 2025. Key Deadlines: The federal tax filing deadline (Tax Day) is April 15, 2025, with an extension deadline of October 15, 2025. Document Deadlines: Most key tax forms (W-2, 1099, etc.)

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Taxes Electronics Insurance Startup 52

Harness Wealth

OCTOBER 24, 2024

This article covers a comprehensive list of the most common forms, documents, and information needed to file taxes. If you need a cheat sheet, download our 1-page tax prep checklist. To plan your tax timeline, see our article, 2025 Tax Deadline Information for Individual Filers.

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Taxes Insurance Insurance Coverage Medical 52

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. Transfer After Death The IRS does impose a federal estate tax—though the exemption limit in 2024 is at a historically high rate of $13.61

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Planning Estate Planning Taxes Assets 52

Harness Wealth

FEBRUARY 5, 2025

Financial and lifestyle considerations of living abroad The importance of professional tax advice for expats FAQs about the FEIE What is the Foreign Earned Income Exclusion? federal income tax (2025). taxes as foreign-earned income could be subject to double taxation. expatriates to reduce their tax liabilities.

Taxes 52

Taxes Compliance Accounting Government 52

Harness Wealth

JULY 29, 2024

Any reporting companies created during 2024 have 90 days to file this report, and for reporting companies created in 2025 or after this filing deadline is reduced to 30 days. On the estate planning front, chief among these potential changes is the sunset of the gift and estate tax basic exclusion amount for U.S.

Estate Planning 59

Estate Planning Taxes Planning Tax Planning 59

Darrow Wealth Management

SEPTEMBER 11, 2024

There’s no forced ‘catch up’ and RMDs are not technically needed before 2025 (though it should be considered). 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

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.

Taxes 52

Taxes Tax Planning Planning Estate Planning 52

Harness Wealth

FEBRUARY 19, 2025

Ensure BOI reporting compliance and remain updated with the latest BOI regulations with a tax advisor from Harness. Consulting with a legal or tax professional is recommended. While the CTA remains law, BOI reporting obligations are currently on hold (Feb 2025) due to an ongoing nationwide injunction (Smith v.

Taxes 52

Taxes Financial Advisor Consulting Certification 52

Harness Wealth

APRIL 17, 2023

In this article, we’ll discuss: Who Pays the Alternative Minimum Tax? If you live in one of these states, it’s essential to be familiar with the state-specific AMT rules, and other state-level tax implications to minimize your overall tax liability. How is AMT Calculated?

Taxes 52

Taxes Tax Planning Planning Investing 52

Darrow Wealth Management

NOVEMBER 5, 2024

If you invested in a startup or small business (founders, employee exercise of stock options, business owner), you need to know about qualified small business stock. If eligible, you may be able to exclude up to 100% of the gain from federal taxes when you sell your shares through the capital gains tax exclusion.

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Taxes Wealth Management Tax Planning Assets 62

Brown Advisory

NOVEMBER 5, 2021

Without downplaying the importance of appropriate action around year-end tax planning, our purpose in this letter is to encourage clients to step back, take a breath and consider using this time to focus on the long term. But, there are other considerations to keep in mind, like changes in tax exposure.

Planning 52

Planning Tax Planning Taxes Clients 52

Carson Wealth

FEBRUARY 29, 2024

To help illustrate how they work together, consider this scenario: Sally is generous with her kids, gifting them all sizable amounts to help pay for their first homes, start businesses, or make whatever investments they see fit. Then, she meets with her financial advisor to review her estate plan.

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Taxes Financial Planning Planning Estate Planning 96

Darrow Wealth Management

JANUARY 23, 2025

In this case, you’ll typically only have three to six months to consider exercising your options before losing the vested in-the-money value and potential investment or liquidity opportunity. Tax implications of exercising stock options Why does the timing of stock option exercises matter? Taxes, for one.

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Taxes Startup Wealth Management Planning 75

Brown Advisory

AUGUST 1, 2019

Roth and traditional IRAs both provide tax-free growth on invested assets to account owners, but the two options also differ in a variety of ways. From a legacy planning standpoint, two distinctions are especially important: Roth IRAs do not require their owners or spouses to take mandatory distributions.

Planning 52

Planning Distribution Taxes Accounting 52

Brown Advisory

AUGUST 1, 2019

Roth and traditional IRAs both provide tax-free growth on invested assets to account owners, but the two options also differ in a variety of ways. From a legacy planning standpoint, two distinctions are especially important: Roth IRAs do not require their owners or spouses to take mandatory distributions.

Planning 52

Planning Distribution Taxes Accounting 52

Cordant Wealth Partners

AUGUST 16, 2024

Other pay : Certain employees can be eligible for “pay in lieu of redeployment” (9 weeks) and an “additional separation bonus” (8 weeks) It’s important to note that severance payouts are taxed as ordinary income in the year of payout. Tax planning for a transition out of Intel is critical.

Planning 52

Planning Retirement Taxes Accounting 52

Harness Wealth

JUNE 23, 2023

Harness Tax LLC is affiliated with Harness Wealth Advisers LLC, collectively referred to as “Harness Wealth” Harness Wealth Advisers LLC is an internet investment adviser registered with the Securities and Exchange Commission (“SEC”).

Estate Planning 52

Estate Planning Financial Planning Planning Taxes 52

Darrow Wealth Management

NOVEMBER 14, 2024

Important note This article is for informational purposes only and should not be misinterpreted as personalized advice of any kind or a recommendation for any specific investment product, financial or tax strategy. Disclosure [Last reviewed November 2024] The post How Are Stock Options Taxed?

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Taxes Sales Wealth Management Planning 52

Nerd's Eye View

OCTOBER 28, 2024

These discussions can range from talent development and succession planning to how to systematize and scale their marketing alongside their planning and investment services. And as more conferences are announced in the coming months, we'll continue to update the Master Conference List well into the coming year!).

Financial Advisor 146

Financial Advisor Tax Planning Financial Planning Planning 146

Brown Advisory

APRIL 1, 2020

Strategic Planning in Volatile Markets ajackson Wed, 04/01/2020 - 09:31 Our conversations with clients usually cover topics that range beyond investment and financial affairs. FINANCIAL PLANNING Home Refinance. GIFT AND ESTATE TAX PLANNING Outright Gifting. Intra-family Note Refinance.

Strategic Planning 52

Strategic Planning Planning Marketing Marketing 52

Brown Advisory

APRIL 1, 2020

Strategic Planning in Volatile Markets. Our conversations with clients usually cover topics that range beyond investment and financial affairs. FINANCIAL PLANNING. GIFT AND ESTATE TAX PLANNING. Past performance is not a guarantee of future performance and you may not get back the amount invested.

Strategic Planning 52

Strategic Planning Planning Marketing Marketing 52

Harness Wealth

MARCH 20, 2025

The eligibility criteria and rules surrounding home office tax deductions for remote workers are far from straightforward, however. In this article, we examine remote work home office tax deductions in 2025 and provide a clear overview of who qualifies. The deductions restrictions imposed by the TCJA will last through 2025.

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License Taxes Insurance Consulting 52

Discipline Funds

DECEMBER 29, 2024

The end of the year is an ideal time to start planning for the year ahead and make sure youre on target to achieve those goals. Here’s a list of things to consider checking as we head into 2025. Good financial planning is all about asset and liability matching across time. The limit increases to $19K in 2025.

Financial Planning 63

Financial Planning Planning Asset Allocation Retirement Planning 63

Indigo Marketing Agency

JANUARY 25, 2025

Here are the 30 voices to follow in 2025, along with rising stars you shouldnt miss. Michael Kitces Reason to Follow: Deep insights into financial planning and wealth management Michael Kitces continues to dominate as a thought leader in financial planning. The financial advisory world is evolving faster than ever.

Financial Advisor 52

Financial Advisor Education CFP Clients 52

Darrow Wealth Management

NOVEMBER 7, 2024

Exercise strategy: Timing: Consider the tax implications of exercising vested options before or after the IPO, timing of sales, and tax planning opportunities. Cash flow: Depending on the type of equity you have, exercising can be challenging given tax implications and having cash to buy the stock.

Taxes 95

Taxes Wealth Management Wealth Advisor Tax Planning 95

Harness Wealth

MARCH 25, 2025

Tax deductions for doctors The tax arena in which primary care physicians (PCPs) find themselves is often defined by multiple income streams , including private practice earnings and investment income. Strategic tax planning for PCPs involves the optimal use of tax-advantaged accounts.

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Medical Taxes Tax Planning Education 52

Harness Wealth

JANUARY 17, 2025

Tax season brings challenges for many, especially those with complex financial situations like equity compensation, multiple income streams, or significant investments. From identifying deductions to ensuring compliance, navigating tax complexities can quickly become overwhelming.

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Taxes Certification Ethics Communication 52