MainStreet Financial Planning

NOVEMBER 8, 2024

As December unfolds, it’s easy to overlook year-end tax planning amid the holiday hustle. However, dedicating a few moments now can lead to significant savings come tax season. To help you retain more of your hard-earned money and reduce your tax liability, consider these five strategic moves before the year concludes.

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Harness Wealth

DECEMBER 8, 2022

A financial or tax adviser can help you identify ways to capture that loss so you can offset gains from your liquidity event. Max out your retirement contributions. The current lifetime gift tax exclusion is $12.06M (or $24.12 The exclusion may reduce back to pre-2017 levels of $5M after 2025. at the federal level.

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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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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.

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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.

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Darrow Wealth Management

JANUARY 9, 2023

Here are the top five Roth-related retirement changes following the passing of Secure Act 2.0. 529 plan to Roth IRA rollovers. 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. 5 new changes to Roth accounts in Secure Act 2.0.

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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.

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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.

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Brown Advisory

AUGUST 1, 2019

The Long Game: Roth Conversions & Legacy Planning ajackson Thu, 08/01/2019 - 14:51 Legacy planning is all about transferring wealth to descendants as efficiently as possible. 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.

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Brown Advisory

AUGUST 1, 2019

Legacy planning is all about transferring wealth to descendants as efficiently as possible. So it may be surprising to hear that a Roth IRA—a vehicle ostensibly intended for retirement income—can be a powerful mechanism for next-generation wealth transfer. Background.

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Sara Grillo

NOVEMBER 11, 2024

Andy Panko started a taxes in retirement Facebook group. They may be focused on the three steps ahead of them, but you are focused on the broader view including 30 years from now when you are going to retire, and that is because I talk to script writers all day and for that reason I can see a broader picture that you can not. “Oh

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Nerd's Eye View

MARCH 15, 2024

While the final submitted text has not been released, some experts suggest that the DoL likely made few changes to its initial proposal, despite significant opposition from broker-dealers that could lead to the judicial system deciding the rule’s ultimate fate.

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Nerd's Eye View

MARCH 15, 2024

While the final submitted text has not been released, some experts suggest that the DoL likely made few changes to its initial proposal, despite significant opposition from broker-dealers that could lead to the judicial system deciding the rule’s ultimate fate.

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Brown Advisory

APRIL 1, 2020

Market declines also bring opportunities to trigger valuations for income and transfer tax purposes , so that such taxes are applied to current, lower values, thereby lessening the total amount of tax ultimately paid. Deferral of required retirement plan distributions.

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Brown Advisory

APRIL 1, 2020

Market declines also bring opportunities to trigger valuations for income and transfer tax purposes , so that such taxes are applied to current, lower values, thereby lessening the total amount of tax ultimately paid. Deferral of required retirement plan distributions. GIFT AND ESTATE TAX PLANNING.

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