Nerd's Eye View

JUNE 21, 2024

million in assets to both retire and pass on a legacy interest (though many have yet to establish an estate plan), according to a recent survey. Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that affluent Americans believe they need an average of $5.5

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Nerd's Eye View

SEPTEMBER 20, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that the North American Securities Administrators Association (NASAA) released the latest edition its annual survey outlining the state of state-registered RIAs, showing that the number of state-registered firms and their assets (..)

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Nerd's Eye View

MAY 31, 2024

House of Representatives and is now being considered in the Senate would increase the number of firms classified as “small entities” and would require the SEC to assess the impact of proposed regulation on this newly enlarged class of investment advisers (which tend to have fewer compliance staff and resources available compared to larger (..)

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Cordant Wealth Partners

NOVEMBER 18, 2024

This article covers what a donor-advised fund is and why you should consider one. 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. What is a Donor Advised Fund?

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Harness Wealth

MARCH 27, 2025

Other reasons involve changes in investment strategy, portfolio rebalancing, or a simple desire to exit a specific asset class. Capital gains can result from the sale or exchange of capital assets, such as fund interests or portfolio company stock. What tax strategies optimize secondary investments? FIRPTA planning using a U.S.

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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. And, if the U.S.

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Darrow Wealth Management

OCTOBER 1, 2024

Choosing whether to fund a trust with your assets is an important decision in the estate planning process. Here are three main reasons you may want to consider putting your assets in a trust. Funding a trust means retitling assets in the name of your trust. There are no changes to the tax treatment of these assets.

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Darrow Wealth Management

NOVEMBER 11, 2024

However, if you’ve made deductible and non-deductible IRA contributions, you can’t choose to just withdraw the after-tax portion. Each time you take money out from individual retirement accounts, you won’t need to pay taxes on the proportion of nondeductible contributions to all IRA assets.

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Harness Wealth

FEBRUARY 26, 2023

Cost-saving tax planning can be much more difficult to implement after your company is well-established and has reached the stage where an IPO, merger, or acquisition becomes a likely event. ISOs can only be issued to employees, and the company issuing the ISO cannot take a tax deduction.

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Carson Wealth

JANUARY 28, 2025

When you have the resources to make an impact, this type of planning helps you pinpoint what you want to accomplish for your family, community, and society. Steps to Setting Up a Philanthropy Fund Taking the proper steps in the beginning can give your charitable giving plan a solid foundation.

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Harness Wealth

FEBRUARY 4, 2025

However, unlike stocks and bonds, alternative investments, or alts as theyre commonly known, have unique tax treatments and complex reporting requirements that investors should carefully consider before investing. Well also go into some potential strategies to optimize tax efficiency. Table of Contents What Are Alternative Investments?

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Harness Wealth

DECEMBER 8, 2022

Tax loss harvesting involves selling losing investments to offset capital gains, thus limiting the taxes you owe. While it doesn’t always make sense to take a loss on investments, evaluate your portfolio and consider whether selling some poorly performing assets may make sense in your situation. Estate planning.

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Harness Wealth

JANUARY 29, 2025

A full list of tax provisions for states affected by natural disasters can be found here. In this article, well examine the most effective end-of-year tax strategies to help maximize your deductions and reduce your taxable income. Charitable Contributions Consider donating appreciated assets such as stocks or real estate.

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Harness Wealth

FEBRUARY 27, 2023

Traditional IPO: Valuation, Lockup Period, and Employee Equity Founders have more options for reducing the tax consequences of an acquisition Founders are generally in the best position to engage in tax planning and limit the taxable consequences associated with an acquisition.

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Darrow Wealth Management

JANUARY 30, 2023

Here are some tax planning strategies to consider when you should start drawing from your IRA. Tax planning strategies for required minimum distributions Tax planning shouldn’t stop when you retire. Retirees in a low tax bracket for the year have several planning options to consider.

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Darrow Wealth Management

JANUARY 29, 2024

However, at death, a living trust can provide two key benefits compared to owning assets not held in trust. What happens to my assets after I die? Before diving into a discussion on the benefits of living trusts, it’s important to first understand what happens to different types of assets after someone dies. non-attorney).

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Darrow Wealth Management

NOVEMBER 17, 2022

The ‘millionaires’ tax will also ensnare taxpayers who exceed the $1M limit after selling a home, business, stock options, or other types of one-time events. Article is a general communication only and should not be used as the basis for making any type of tax, financial, legal, or investment decision.

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Harness Wealth

JANUARY 29, 2025

Tax-loss harvesting is especially useful during volatile market conditions, as price fluctuations can create opportunities to realize losses without significantly disrupting an investor’s overall portfolio strategy. The tax treatment of this loss will depend on how long the asset has been held.

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Darrow Wealth Management

JULY 1, 2024

This tax benefit is scheduled to sunset at the end of 2026. Tax planning for 2026 Depending on your situation, income, and goals, your planning options will vary. As with anything in tax planning, it’s important not to let the tax-tail wag the dog.

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Harness Wealth

JANUARY 10, 2025

Tax advice is a common topic on social media platforms like TikTok. Influencers promise easy ways to secure tax deductions, simplifying complex ideas into bite-sized claims that gloss over important details in the process. Are Capital Gains from Cryptocurrency Tax-Free? This article is a product of Harness Tax LLC.

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Harness Wealth

JANUARY 24, 2023

So before you set off on your big move, consider the specific tax implications of doing so. Who knows, you might even find a more tax-friendly destination along the way. The tax rate varies based on the size of the estate, but there is a federal limit of $12 million for an individual and $24 million dollars for a couple.

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James Hendries

SEPTEMBER 20, 2022

Limited partnerships can be used to split income taxes. Typically, parents form an FLP and transfer their assets (e.g., Gifting assets to family members is another way to shift income. It might be advantageous for you to gift income-producing investment assets (such as stock in various companies) to your relatives.

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Darrow Wealth Management

SEPTEMBER 11, 2024

Note that successor beneficiaries, e.g. people that inherit an IRA from someone other than the original IRA owner, may have different rules, which is outside the scope of this article. This article focuses on the distribution rules for non-eligible designated beneficiaries as that is most common.

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James Hendries

JULY 13, 2023

But the donor or a representative of the donor has advisory privileges regarding the distribution of the funds or the investment of assets in the accounts. [i] i] Private Foundation – A private foundation is created when someone sets up a tax-exempt organization but does not file to be recognized as a public charity.

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WiserAdvisor

MARCH 13, 2024

A financial advisor can help you understand the five pillars of retirement planning to ensure you stay a step ahead when planning for the later years of your life. This article will discuss the five pillars of retirement planning and why they are a critical component of your retirement plan.

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WiserAdvisor

AUGUST 31, 2023

This article goes over several benefits of hiring a financial advisor after you retire to help you decide if you need a financial advisor after retirement. They can help you diversify your money across various asset classes and reduce your portfolio’s risk while aiming for consistent returns.

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Integrity Financial Planning

AUGUST 21, 2023

One of those options might be to set up a defined contribution plan such as a 401(k). [1] 1] A 401(k) will allow you to set aside some of your assets into a tax-advantaged account that can have market exposure and the potential to grow over time. [2] 4] This is a tax-advantaged account, much like a 401(k). [5]

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Integrity Financial Planning

AUGUST 28, 2023

In this article, we’ll talk about what happens when you make this conversion and give you some examples of different financial situations for when this could be the right move for you. Sources: [1] [link] This article is designed to provide general information on the subjects covered. Let’s say you’ve just changed jobs.

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Harness Wealth

JULY 29, 2024

Now that the mid-point of 2024 has passed, we are faced with an environment where little has changed with respect to the wait-and-see posture of estate and wealth transfer planning. In this article, we discuss six topics and trends that tax professionals should be aware of to win the information battle as a trusted resource for clients.

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Harness Wealth

MARCH 7, 2022

In this article we’ll share answers to questions that come up constantly in these sessions (you’re not alone!). If there’s anything you’d like more clarity on, join us for 1:1 Equity Tax Planning Session. In this article we’ll cover: . What is the Alternative Minimum Tax (AMT)? . You can sign up here. .

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Darrow Wealth Management

NOVEMBER 5, 2024

Using IRS Section 1202, taxpayers can sell stock potentially free of federal capital gains taxes if the requirements are met. This article is meant to be an easily-digestible introduction to QSBS. It is not personal legal/tax/financial advice or an exhaustive discussion of the exclusion. Hold the stock for at least five years.

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Harness Wealth

MARCH 6, 2025

A good rule of thumb is to set aside at least 30% of every payment you receive to cover your estimated tax obligationshowever, this percentage may need to be adjusted based on your individual tax bracket. On the whole, its advisable to consult a tax adviso r to develop a dependable tax plan.

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Darrow Wealth Management

SEPTEMBER 7, 2023

So the choice ultimately has to be an educated guess in consideration with other key factors about your equity, post-IPO plans, and financial situation. Pros and cons of exercising stock options in a pre-IPO window If you are new to the tax implications and basics about exercising stock options, please read this article first.

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Tobias Financial

JULY 5, 2024

In a recent CNBC article, our Wealth Advisor, Catalina Franco-Cicero, MS, CFP®, CTS , was quoted on the topic of tax strategies during periods of unemployment. However, a period of lower income in 2024 could present valuable tax planning opportunities.

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Darrow Wealth Management

NOVEMBER 20, 2023

You expect your future tax rate will be higher than it is today Time value of money. All else equal, you’d be better off paying tax next year instead of today. If you have a large pool of pre-tax assets, when RMDs kick in you could have little protection against the highest tax brackets.

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Darrow Wealth Management

DECEMBER 5, 2022

The timing of the irrevocable gift to your donor-advised fund dictates the tax year when you can take the deduction. If you itemize your deductions, you can take a charitable deduction for the fair market value of the asset, up to 30% of adjusted gross income (AGI) for federal taxes. Give wisely.

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Harness Wealth

DECEMBER 30, 2024

In an effort to help employees manage their tax liabilities more effectively, the Internal Revenue Code offers provisions like the 83(b) election , which allows employees to pay tax on the fair market value of restricted stock at the time of its granting as opposed to vesting. This article is a product of Harness Tax LLC.

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