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.

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Taxes Retirement Tax Planning Accounting 246

MainStreet Financial Planning

NOVEMBER 25, 2024

The fastest way to find out your new benefit amount is to access your personal my Social Security account to view the COLA notice online. The maximum amount of earnings subject to Social Security tax (taxable maximum) will increase to $176,100 from $168,600. 2025 amounts should become available later this year.

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Taxes Planning Retirement Planning Accounting 98

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.

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Taxes Wealth Management Distribution Accounting 93

Nerd's Eye View

DECEMBER 30, 2024

We start with several articles on retirement planning: Why considering a client's retirement time horizon and spending flexibility could lead to more accurate (and often higher) safe withdrawal rates than the simpler "4% rule" Four unique risks retirees face when drawing down their assets, from sequence of returns risk to tax risk, and how financial (..)

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Financial Advisor Insurance Tax Planning Taxes 240

Carson Wealth

FEBRUARY 27, 2025

Like gardening or working out, tax planning is one of those activities where you get out what you put in. Tax planning is similar in the sense that you can put work in on the front end that youll reap benefits from later. Tax planning is similar in the sense that you can put work in on the front end that youll reap benefits from later.

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Taxes Tax Planning Distribution Planning 97

Wealth Management

DECEMBER 17, 2024

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

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Accounting Taxes 245

Nerd's Eye View

SEPTEMBER 11, 2024

Among all the different types of retirement account beneficiaries, those who are the surviving spouse of the original account owner receive the most preferential tax treatment when it comes to distributing the account's assets after the owner's death. But the SECURE 2.0

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Accounting Retirement Distribution Taxes 246

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 .

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Retirement Planning Accounting Retirement Planning 193

Nerd's Eye View

FEBRUARY 15, 2023

Health Savings Accounts (HSAs) feature useful tax advantages that make them a popular savings vehicle. One possible outcome of ‘superfunding’ an HSA, however, is that the account owner may not actually use up all of their HSA funds over their lifetime, which can have significant tax consequences. Read More.

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Distribution Taxes Medical Accounting 246

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.

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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.

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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.

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Taxes Portfolio Wealth Management Management 247

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.

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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.,

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Taxes Clients Tax Planning Financial Advisor 246

Nerd's Eye View

AUGUST 7, 2024

That's because, depending on the beneficiaries' individual situations, different types of assets will have different tax characteristics when inherited, which might make particular assets better or worse for different beneficiaries depending on their tax circumstances.

Estate Planning 246

Estate Planning Taxes Assets Planning 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.

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Taxes Financial Advising Financial Advice Planning 263

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.

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Sales Taxes Assets Retirement 246

Nerd's Eye View

DECEMBER 28, 2022

includes a significant number of Roth-related changes (both involving Roth IRAs as well as Roth accounts in employer retirement plans), though notably, the legislation does not include any provisions that restrict or eliminate existing Roth strategies (e.g., In addition, SECURE 2.0 backdoor Roth conversions).

Tax Planning 246

Tax Planning Planning Taxes Retirement Planning 246

Nerd's Eye View

DECEMBER 28, 2022

includes a significant number of Roth-related changes (both involving Roth IRAs as well as Roth accounts in employer retirement plans), though notably, the legislation does not include any provisions that restrict or eliminate existing Roth strategies (e.g., In addition, SECURE 2.0 backdoor Roth conversions).

Tax Planning 246

Tax Planning Planning Taxes Retirement Planning 246

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

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

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.

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Asset Allocation Retirement Financial Planning Accounting 162

Darrow Wealth Management

NOVEMBER 11, 2024

Because many taxpayers earn too much to make pre-tax IRA contributions as they have a 401(k) at work. Although any investor with earned income can make a non-deductible contribution to an IRA (up to $7,000 in 2024-2025 if under age 50) and still take advantage of tax-deferred growth, it still may not be advisable. Yes and no.

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Distribution Taxes Retirement Retirement Planning 95

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.

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Taxes Accounting Government Medical 59

Harness Wealth

MARCH 21, 2025

This weeks Tax Advisor Weekly covers key updates for financial professionals. We also highlight a report on unruly crowds at IRS tax assistance events last year. OBannon , CPA Practice Advisor) Nothing is certain but death and taxes. Did you miss last weeks edition? Did you miss last weeks edition? You can find it here.

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Taxes Accounting Government Consulting 52

Darrow Wealth Management

JANUARY 16, 2025

A step-up in basis is a tax advantage for individuals who inherit stocks or other assets, like a home. Understanding step-up in basis at death If youve received an inheritance you may have questions about the tax treatment of certain assets. This increases the tax basis, which determines capital gains or losses when the asset is sold.

Assets 98

Assets Estate Planning Taxes Wealth Management 98

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.

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Financial Planning Planning Estate Planning Taxes 108

Wealth Management

APRIL 18, 2024

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

Accounting 278

Accounting Taxes 278

Abnormal Returns

FEBRUARY 12, 2025

monevator.com) Retirement accounts Half of American workers now have a 401(k) account. wsj.com) On the downside of tax-deferred retirement accounts. awealthofcommonsense.com) Sometimes is pays to accelerate taxes. (awealthofcommonsense.com) The senior housing market is bouncing back from the pandemic. Does it work?

Accounting 147

Accounting Retirement Taxes Marketing 147

Harness Wealth

MARCH 7, 2025

This weeks Tax Advisor news roundup covers key updates for financial professionals. Last but not least, we have a rundown of the IRSs ‘Dirty Dozen’ tax scams for 2025. Wealth Taxes in Europe, 2025 ( Cristina Enache , Tax Foundation) Net wealth taxes are recurrent taxes on an individuals wealth, net of debt.

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Taxes Retirement Financial Advisor Retirement Planning 52

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.

Accounting 296

Accounting Taxes Numbers 296

Harness Wealth

MARCH 6, 2025

Freelancers and contractors may enjoy greater flexibility and independence than full-time employees, however, this autonomy brings increased tax responsibility. Unlike W-2 employees, freelancers and independent contractors are responsible for managing their own tax obligations, which can be a complex process.

Taxes 52

Taxes Consulting Professional Services 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?

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Taxes Assets Portfolio Sales 52