Harness Wealth

MARCH 11, 2024

As a company founder, early startup employee, or small business owner, you may find yourself in a higher tax bracket as your business grows or you realize gains from equity compensation. But that doesn’t mean you simply have to accept a higher tax bill.

Startup 59

Startup Taxes Medical Retirement 59

Cordant Wealth Partners

OCTOBER 25, 2021

What’s the risk of the Intel SERPLUS plan? Second, what’s the magnitude of the tax benefit from deferring income? Intel SERPLUS Contribution Scenario and Tax Calculator (excel download). Intel’s SERPLUS (Deferred Compensation) program is available to employees at grade level 10 or higher. FREE RESOURCES.

Compensation Planning 52

Compensation Planning Distribution Taxes Planning 52

Cordant Wealth Partners

JANUARY 28, 2021

Employees of what was formerly Mentor Graphics, now Siemens, may find that they are eligible for Siemens’ Deferred Compensation Plan (DCP) and wonder if they should defer their salary and/or bonus into the plan. The Benefits of Deferred Compensation. The Risks of Deferred Compensation Plans. Tax Benefits.

Compensation Planning 52

Compensation Planning Taxes Planning Distribution 52

Zajac Group

MARCH 20, 2023

Reason #5 – Tax Tradeoffs: So much of equity compensation and the decision to sell (or not sell) is tied to income tax. You might seek to defer income tax, simply, by not exercising options or selling shares. All else equal, long-term capital gain tax rates are preferred to ordinary income rates.)

Risk Tolerance 98

Risk Tolerance Taxes Portfolio Planning 98

Zajac Group

JANUARY 24, 2023

If your employer has granted you incentive stock options (ISOs) , you’ve likely spent time researching the tax treatment. If so, you’ve probably read about the alternative minimum tax (AMT), and qualifying and disqualifying dispositions. When you do, the sale is either a qualified or disqualified sale, and is taxed accordingly.

Taxes 52

Taxes Sales Tax Planning Planning 52

Your Richest Life

APRIL 15, 2024

Let’s demystify the lingo and break down some of the most common retirement plans, so you can determine the best retirement plan for you: Common Retirement Accounts Whether you work for a large company, a small business, or yourself, there are retirement savings accounts that will work best for your situation.

Retirement Planning 52

Retirement Planning Retirement Planning Taxes 52

Cordant Wealth Partners

SEPTEMBER 7, 2022

The Microsoft Mega Backdoor Roth 401(k) is a feature within the 401(k) plan that allows you to: Save additional money each year on an after-tax basis into your 401(k) and Convert those dollars into a tax-free Roth subaccount. Like a Roth IRA, the Roth 401(k) is tax-free money. Let’s look at how this is done.

Taxes 52

Taxes Accounting Compensation Planning Retirement 52

Cordant Wealth Partners

SEPTEMBER 9, 2022

Source: Levels.fyi Planning opportunities with salary: Contribute to your 401(k), HSA, and (for those Level 67+) Deferred Compensation accounts to reduce your taxes today. Fund your ESPP account. The higher your level, the higher percentage of your total compensation this cash bonus will represent.

Engineering 52

Engineering Taxes Insurance Accounting 52

Cordant Wealth Partners

SEPTEMBER 27, 2021

Planning opportunities with salary: Contribute to your 401(k), HSA, and (for those Level 67+) Deferred Compensation accounts to reduce your taxes today. Fund your ESPP account. The higher your level, the higher percentage of y our total compensation this cash bonus will represent. See the chart below.

Engineering 52

Engineering Taxes Insurance Accounting 52

Walkner Condon Financial Advisors

JUNE 27, 2023

Severance pay is taxable and will be included on your W-2 for tax purposes. Expect federal and state taxes to be withheld. Related to health care costs, you will likely lose any unused Flexible Spending Account (FSA) funds that you have. Deferred compensation plans. This is uncommon. Unemployment insurance.

Insurance 52

Insurance Insurance Coverage Compensation Planning Financial Advisor 52

Walkner Condon Financial Advisors

JUNE 27, 2023

Severance pay is taxable and will be included on your W-2 for tax purposes. Expect federal and state taxes to be withheld. Related to health care costs, you will likely lose any unused Flexible Spending Account (FSA) funds that you have. Deferred compensation plans. This is uncommon. Unemployment insurance.

Insurance 52

Insurance Insurance Coverage Compensation Planning Financial Advisor 52

Cordant Wealth Partners

SEPTEMBER 8, 2022

This article will discuss the key features of the Microsoft 401(k) plan, and after reading it, you should leave with a clear game plan of how to: Maximize the match (free money! ) The key benefits of any 401(k) plan (including Microsoft’s) include: Free Money : A company match on your contributions.

Retirement Planning 52

Retirement Planning Retirement Planning Taxes 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

Cordant Wealth Partners

DECEMBER 2, 2022

It’s important to note, severance payouts are taxed, and taxed as ordinary income in the year of payout. So, if you separate from the company near the end of the year, earning both a full year of salary plus severance payouts, you could be pushed into a higher tax bracket. Tax planning for a transition out of Intel is critical.

Planning 52

Planning Retirement Taxes Accounting 52

Zoe Financial

MARCH 22, 2023

Not all income is created equal – and different income sources also carry other consequences , especially regarding taxes. For example, the money you will withdraw from a Roth IRA would be tax-free, and some retirees jump in early to use their Roth IRA accounts. However, this is a mistake.

Retirement 40

Retirement CFP Taxes Accounting 40

Zajac Group

JANUARY 10, 2023

After all, there is plenty to think about if you’ve been granted equity compensation. You might become mired in taxing technicalities, including AMT calculations. Can’t decide how to decide what to do with your equity compensation? Above that, you should also carve out the amount you’ll need to cover any taxes due on the sale.

Taxes 52

Taxes Planning Financial Planning Investments 52

Sara Grillo

AUGUST 14, 2023

But try to hold them legally accountable for meeting that standard, and those same “advisors” quickly change their tune. If an AUM advisor is managing a $5MM account, and a client comes in and says, “I’m taking half of this to buy a commercial property”, the AUM advisor is essentially taking a 50% pay cut.

Financial Advisor 52

Financial Advisor Fiduciary Duty Insurance Financial Advice 52