Darrow Wealth Management

NOVEMBER 2, 2024

The IRA and Roth IRA contribution limits are unchanged but income eligibility for tax-deductible IRA contributions and Roth IRA contributions have changed. Also updated: health savings accounts, flexible spending accounts, estate and gifting limits, qualified charitable distributions and other cost-of-living adjustments.

Taxes 103

Taxes Wealth Management Distribution Accounting 103

Nerd's Eye View

SEPTEMBER 25, 2024

Over the last 60 years, the top Federal marginal tax bracket has steadily decreased from over 90% in the 1950s and 60s to 'just' 37% today. While it's true that the top marginal tax rate has decreased dramatically since the mid-20th century, the difference in the actual tax paid by most Americans has been far more modest.

Taxes 246

Taxes Retirement Tax Planning Accounting 246

Wealth Management

DECEMBER 17, 2024

The deal with Fishman Block + Diamond will expand Ceritys tax advisory capabilities in the Los Angeles area.

Accounting 245

Accounting Taxes 245

The Chicago Financial Planner

OCTOBER 21, 2021

Health savings accounts (HSA) provide another vehicle to save for retirement. Many of you have the option to enroll in high-deductible insurance plans that allow the use of a health savings account via your employer. HSA accounts can only be used in conjunction with a high-deductible health insurance plan. How the HSA works .

Retirement Planning 193

Retirement Planning Accounting Retirement Planning 193

Wealth Management

APRIL 18, 2023

The robo advisor failed to tell some clients its tax-loss harvesting service only checked accounts on alternating days and not daily, as some materials claimed, according to the commission.

Taxes 264

Taxes Commission Accounting Clients 264

Nerd's Eye View

MAY 17, 2023

that incentivizes saving for these goals for American citizens – namely with tax-advantaged accounts such as 401(k) plans, IRAs, 529 college savings plans, and Health Savings Accounts (HSAs) – can impose hurdles on foreign nationals who rely on them for their own savings needs. However, the system in the U.S.

Taxes 246

Taxes Investing Investments Accounting 246

Wealth Management

JANUARY 9, 2025

The combination with Harrison Berkman Claypool & Guard and its RIA enhances Coldstreams existing tax and consulting practice and brings its total AUA to $11.1

Accounting 264

Accounting Consulting Taxes 264

Nerd's Eye View

OCTOBER 9, 2024

While all gifts could technically be considered taxable to the donor, the annual gift tax exclusion (currently at $18,000) provides for a practical allowance that makes it unnecessary to track and report every small gift (because no one wants to spend time accounting for the value of birthday gifts like bikes, books, or cash!).

Taxes 244

Taxes Medical Clients Education 244

Nerd's Eye View

OCTOBER 26, 2022

Roth conversions are, in essence, a way to pay income taxes on pre-tax retirement funds in exchange for future tax-free growth and withdrawals. Conversely, if the opposite is true and the converted funds would be taxed at a lower rate upon withdrawal in the future, then it makes more sense not to convert.

Taxes 246

Taxes Assets Accounting Retirement 246

The Big Picture

JANUARY 24, 2024

At the Money: How to Pay Less Capital Gains Taxes (January 24, 2024) We’re coming up on tax season, after a banner year for stocks. Successful investors could be looking at a big tax bill from the US government. On this episode of At the Money, we look at direct indexing as a way to manage capital gains taxes.

Taxes 246

Taxes Portfolio Wealth Management Management 246

Financial Symmetry

APRIL 14, 2025

Each of these account types has its pros and cons, which I have outlined below. Once you open this account, it functions the same way as every other bank account does for deposits and withdrawals, and you can order a debit card for your child once they get older for spending purposes.

Accounting 60

Accounting Taxes Education Planning 60

Wealth Management

OCTOBER 1, 2022

FATCA, aimed at cracking down on offshore tax evasion, is hurting accidental US citizens who can’t open bank accounts.

Taxes 227

Taxes Banking Accounting 227

Nerd's Eye View

SEPTEMBER 7, 2022

Tax-loss harvesting – i.e., selling investments at a loss to capture a tax deduction while re-investing the proceeds to maintain market exposure – is a popular strategy for financial advisors to increase their clients’ after-tax investment returns. With these three tools (i.e.,

Taxes 246

Taxes Clients Tax Planning Financial Advisor 246

Nerd's Eye View

MAY 29, 2024

And for many business sales that create capital gains of more than $500,000, the one-time spike in taxable income created by selling a business can bump the seller into a higher income tax bracket, requiring them to forfeit a significant chunk of their funds needed for retirement to pay their own tax bill on the sale. Under IRC Sec.

Sales 246

Sales Taxes Assets Retirement 246

Abnormal Returns

AUGUST 26, 2024

investmentnews.com) Retirement savings Capitalize is helping people transfer old 401(k) accounts. (riabiz.com) Going solo Not every financial adviser wants to build a lasting franchise. investmentnews.com) The pros and cons of going solo. riabiz.com) State auto-IRA programs seem to drive companies to start their own plans.

Taxes 260

Taxes Financial Advising Financial Advice Planning 260

Wealth Management

AUGUST 31, 2022

New report finds law designed to crack down on tax evasion is easy to circumvent.

Accounting 245

Accounting Taxes 245

Nerd's Eye View

JANUARY 6, 2025

FINNY AI, an AI-powered prospecting tool, has raised $4.2

Startup 188

Startup Financial Advisor Clients Portfolio Management 188

Carson Wealth

DECEMBER 20, 2024

Strategic charitable giving not only benefits the recipient but can also create significant tax advantages for the giver. You can deposit money into the account now, receive the tax benefit, and then make the donation in your own time. Theres no time limit on when you need to make the donation.

Financial Planning 116

Financial Planning Planning Estate Planning Taxes 116

Harness Wealth

APRIL 17, 2025

Tax season can be overwhelming, but understanding how to leverage deductions and credits can significantly impact your bottom line. While both mechanisms help reduce what you owe, they operate in fundamentally different ways that affect your final tax bill. And tax law is not static. of your AGI. of your AGI.

Taxes 52

Taxes Tax Planning Education Medical 52

Harness Wealth

APRIL 4, 2025

This weeks Tax Advisor Weekly covers key updates for financial professionals. We begin with guidance on navigating property tax considerations during business mergers and expansions. In this blog post, well cover key business events that impact property tax and business licenses, along with what you need to consider for each.

Taxes 52

Taxes License Banking Government 52

Harness Wealth

APRIL 17, 2025

Tax deductions can save you thousands annually by reducing your taxable income through legitimate business expenses. Understanding these deductions is more critical than ever as tax laws evolve, presenting new opportunities for savings. Understanding this distinction is crucial for maximizing your tax benefits effectively.

Taxes 52

Taxes Tax Planning Professional Services Planning 52

Nerd's Eye View

FEBRUARY 26, 2025

To achieve this, financial support may start at a very young age, allowing for a longer growth horizon and, in many cases, serving tax and estate planning purposes. Parents often want to ensure their children have the resources to pursue their potential and lead fulfilling lives.

Estate Planning 227

Estate Planning Planning Distribution Assets 227

Harness Wealth

MARCH 14, 2025

This edition of the Tax Advisor Weekly covers key updates for financial professionals. To round things out, we provide a refresher on the most common tax return mistakes to watch for this season. Citizens, Businesses ( Martha Waggoner , The Tax Adviser) U.S. citizens or businesses, a significant shift in regulatory enforcement.

Taxes 59

Taxes Accounting Government Medical 59

Abnormal Returns

FEBRUARY 26, 2025

mrmoneymustache.com) Why you need to account for your Treasury income on your state taxes. fastcompany.com) What to consider when rolling over a 401(k) account to an IRA. (tonyisola.com) Age is just one factor when it comes to your asset allocation. ofdollarsanddata.com) Invest time in your life, not in managing your portfolio.

Asset Allocation 157

Asset Allocation Retirement Financial Planning Accounting 157

Financial Symmetry

APRIL 9, 2025

Tax planning might not top everyone’s list of leisure activities, but in the middle of tax season, theres a hidden opportunity. In this episode, we talk about five strategies you can use during tax season to create opportunities to help you reach your financial goals.

Taxes 60

Taxes Tax Planning Retirement Planning 60

Wealth Management

NOVEMBER 29, 2023

They could expand the number of accounts that qualify as DAFs and the pool of persons subject to applicable excise taxes.

Taxes 296

Taxes Accounting Numbers 296

Carson Wealth

FEBRUARY 6, 2025

Every year brings changes in tax rules, and 2025 is no exception. Staying informed about these tax updates isn’t just about being prepared for tax seasonit’s about making smart money moves all year long. More Money Protected from Taxes Good news for your walletyou can shield more of your income from taxes in 2025.

Taxes 64

Taxes Retirement Tax Planning Planning 64

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.

Taxes 52

Taxes Medical Distribution Tax Planning 52

Harness Wealth

JANUARY 29, 2025

Tax-loss harvesting is a powerful strategy that investors can use to reduce their taxable income. As effective as tax-loss harvesting can be, there are a number of important details that investors need to be aware of in order to implement the strategy successfully while following regulations. How does tax-loss harvesting work?

Taxes 52

Taxes Assets Sales Portfolio 52

Harness Wealth

APRIL 17, 2025

Donor-advised funds (DAFs) have emerged as powerful tools that deliver this exact combination, providing immediate tax advantages while offering flexibility to recommend grants to qualified organizations over time. At their core, donor-advised funds are specialized 501(c)(3) charitable accounts housed within public charities.

Taxes 52

Taxes Tax Planning Distribution Assets 52

Wealth Management

NOVEMBER 20, 2023

bump in the standard deduction and a boost to 401(k) contribution limits are among the tweaks to account for inflation.

Taxes 239

Taxes Accounting 239

Abnormal Returns

APRIL 16, 2025

morningstar.com) Americans are increasingly tapping their 401(k) accounts early. investopedia.com) On the tax benefits of 529 accounts. (readthejointaccount.com) Retirement savings Stopping and starting your 401(k) contributions is akin to market timing. sherwood.news) Meet the Roth IRA evangelists. wsj.com)

Retirement 144

Retirement Financial Planning Accounting Portfolio 144

Abnormal Returns

APRIL 9, 2025

ft.com) Taxes Your chances of getting audited are low and getting lower. nytimes.com) Just because the IRS is defanged doesn't mean you should skimp on your taxes. thecollegefinanciallady.com) Do you know what's in your 529 account? humbledollar.com) What is the best way to manage a concentrated, low tax basis position?

Taxes 144

Taxes Education Retirement Accounting 144

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. Find your next tax advisor at Harness today. Starting at $2,500.

Tax Planning 52

Tax Planning Taxes Planning Estate Planning 52

Cordant Wealth Partners

NOVEMBER 18, 2024

We also get you up to speed on the tax benefits of using a DAF. If you've heard of a DAF and are curious about incorporating it into your giving and tax planning strategy, this article is for you. Key Takeaways: Contributions to a donor-advised fund reduce your tax bill in the year your contribution is made.

Taxes 52

Taxes Tax Planning Nonprofit Accounting 52

Wealth Management

APRIL 18, 2024

It waives excise tax for failure to take RMDS for 2024 for certain accounts

Taxes 278

Taxes Accounting 278

Nerd's Eye View

NOVEMBER 1, 2023

There are many tax planning strategies that allow financial advisors to demonstrate the ongoing value they provide to clients in exchange for the fees they charge. Advisors also can support the backdoor Roth process by communicating with clients' tax preparers about the strategy and why they are recommending it for their mutual client.

Taxes 246

Taxes Accounting Clients Retirement Planning 246