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.

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Abnormal Returns

JANUARY 15, 2025

podcasts.apple.com) Retirement Retirement is a great time to do some creative tax planning. readthejointaccount.com) Taxes What you need to know about paying taxes on your crypto trading. awealthofcommonsense.com) The best retirement withdrawal strategy is one you can live with.

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Retirement Tax Planning Taxes Budgeting 162

Abnormal Returns

NOVEMBER 18, 2024

justincastelli.io) Taxes Some speculation on what is next for the TCJA. kitces.com) Tax planning and wealth management go hand-in-hand. downtownjoshbrown.com) How tax deferment can backfire. wealthmanagement.com) Asset location isn't job number one, but it is a job. thinkadvisor.com)

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Wealth Management Wealth Advisor Tax Planning Taxes 147

Abnormal Returns

SEPTEMBER 4, 2024

morningstar.com) Early in retirement is the time to do some tax planning. nextavenue.org) Estate planning Mistakes to avoid in your estate planning. theretirementmanifesto.com) If you have a valuable collection you need a plan for its eventual disposition. whitecoatinvestor.com) On the challenges of solo aging.

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Estate Planning Retirement Tax Planning Planning 264

Nerd's Eye View

SEPTEMBER 25, 2024

As a result, there's a common line of thinking that people saving for retirement should avoid pre-tax retirement accounts entirely and contribute (or convert existing pre-tax assets) to Roth instead – regardless of which tax bracket they're in today.

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Taxes Retirement Tax Planning Accounting 246

Nerd's Eye View

FEBRUARY 24, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that the SEC’s proposed “Safeguarding Rule” would significantly increase the number of investment advisers deemed to have custody of client assets and increase paperwork requirements for advisers (..)

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Financial Planner Tax Planning Taxes Numbers 246

Nerd's Eye View

SEPTEMBER 6, 2022

Andy is the owner of Tenon Financial, a virtual independent RIA that oversees $70 million in assets under management for 43 retired client households. Welcome back to the 297th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Andy Panko. Read More.

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Nerd's Eye View

OCTOBER 7, 2024

This month's edition kicks off with the news that digital estate planning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which on the one hand reflects the anticipated enthusiasm for solutions that can help advisors efficiently (..)

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Clients B2B Estate Planning Planning 246

Nerd's Eye View

SEPTEMBER 6, 2024

Also in industry news this week: A probe by the Government Accountability Office found that the conflict-of-interest disclosures offered by many firms offering financial advice are often inadequate or confusing, making it hard for consumers to understand whether and when a financial professional is operating in their best interest A recent study has (..)

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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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Financial Planner Financial Advisor Taxes Math 246

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

JULY 12, 2022

Kamila is the CEO and Founder of Collective Wealth Partners, an independent RIA based in Atlanta, Georgia, that oversees nearly $25 million in assets under management for almost 175 client households. My guest on today's podcast is Kamila Elliott.

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Financial Advisor CFP Clients Financial Planning 246

Nerd's Eye View

JANUARY 31, 2024

This shift has led financial advisors to explore new strategies for mitigating the resulting tax-planning challenges. Under the new law, non-spouse beneficiaries (with few exceptions) must now withdraw the entirety of an inherited IRA within 10 years of the account owner's passing rather than over their own lifetimes.

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Financial Advisor Estate Planning Nonprofit Financial Planner 246

Nerd's Eye View

SEPTEMBER 16, 2024

However, because many next-generation clients such as those who are Millennials and Gen Zers are still building their assets up, paying $10,000 or more in advisory fees each year may not be feasible for them… at least not yet.

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Clients Planning Tax Planning Management 246

Nerd's Eye View

AUGUST 23, 2023

However, the caveat with current CGAs has been that they could only be funded with after-tax dollars before the donor’s death, meaning that if an individual only had tax-deferred funds (e.g., But the SECURE 2.0

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Taxes Retirement Clients Estate Planning 246

Nationwide Financial

MARCH 6, 2023

Like individuals, businesses holding investments and other capital assets should consider other income, gains, and losses when determining when to sell capital assets. Defer income Clients may consider putting off asset sales or delaying receipt of other income until next year to reduce 2023 taxable income.

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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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Financial Planner Ethics Financial Advisor Taxes 238

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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Taxes Tax Planning Assets Compliance 52

Tobias Financial

DECEMBER 20, 2023

As we begin our countdown to 2024, it is a great time to ensure your year-end tax plan is in place. Tax planning is a vital component of meeting your overall financial goals. Our team of professionals is here to assist with your financial and tax planning needs. You can access the webinar recording here.

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Tax Planning Taxes Planning Distribution 52

Nerd's Eye View

APRIL 5, 2023

Given how frequently the tax code changes, advisors can add value for clients by ensuring their estate plans are aligned with current law to meet the clients’ objectives, and not with past rules that may no longer apply to them. However, the passage of TCJA resulted in the estate gift tax exemption nearly doubling (from $5.6M

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Estate Planning Planning Taxes Clients 246

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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Assets Estate Planning Distribution Taxes 98

Cordant Wealth Partners

NOVEMBER 18, 2024

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. What is a Donor Advised Fund?

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Taxes Tax Planning Nonprofit Accounting 52

Financial Symmetry

FEBRUARY 27, 2025

By rolling the account into their own, spouses can consolidate assets, although they need to be wary of the 10% penalty on early withdrawals if under 59. This flexibility allows EDBs to extend the tax-deferred growth of the inherited funds over a longer period, which is a huge advantage in strategic tax planning.

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Distribution Tax Planning Taxes Accounting 64

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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Risk Management Compliance Taxes Management 52

Nerd's Eye View

JULY 24, 2024

As a whole, these regulations introduce significantly more complexity to the process of tax planning around retirement accounts, particularly after the death of the account's original owner. Act passed in late 2022.

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Distribution Accounting Retirement Tax Planning 190

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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Nerd's Eye View

FEBRUARY 19, 2024

Apex Fintech Solutions noted that the average advisor rings in at a cool 97% retention rate for acquired clients, suggesting that net new assets may provide a clearer lens for growth than the more traditional AUM metric. In the same vein, they also highlighted that hybrid firms (i.e.,

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Financial Advice Consulting Engineering Financial Advisor 244

Abnormal Returns

SEPTEMBER 26, 2022

Podcasts Christine Benz and Jeff Ptak talk with Tim Steffen, director of tax planning for Baird. linkedin.com) Fintech Most people don't need asset management, they need paycheck management. morningstar.com) Michael Kitces and Carl Richards talk about repurposing lessons from clients for content. Budge looks to solve this.

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Harness Wealth

MARCH 29, 2023

One important aspect of this approach is to ensure that your overall asset mix remains approximately the same after you implement this strategy. You will need to identify investment options for reinvestment of the proceeds that are similar to those you liquidate for tax purposes.

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Tax Planning Taxes Planning Marketing 52

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. Charitable giving.

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Tax Planning Taxes Planning Estate Planning 52

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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Tax Planning Startup Taxes Planning 52

Cornerstone Financial Advisory

MARCH 14, 2025

The Bible doesnt lay out a detailed blueprint for modern estate planning, and thats okay. These guidelines include: Stewardship: Recognize that all assets belong to God and plan accordingly. Charitable Giving Plan: Develop a strategy for supporting Christian ministries and charities.

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Estate Planning Planning Healthcare Ethics 52

Ballast Advisors

NOVEMBER 21, 2022

What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Certain tax benefits may be available if you can claim an individual as a dependent. Family tax planning. Financial investments.

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Tax Planning Taxes Planning Retirement Planning 52

Carson Wealth

AUGUST 1, 2024

As you move toward retirement, you can’t be content just to accumulate assets. You need to develop a retirement income plan that can help guide you when it comes time to turn savings into sustainable retirement income. A professional financial advisor can help you create a retirement plan that works for your needs.

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Retirement Taxes Distribution Tax Planning 142

Advisor Perspectives

DECEMBER 26, 2023

Advisors are being asked to provide their clients with a full suite of solutions, ranging from estate and tax planning to portfolio management, and everything in between. Clients are increasingly eager to gain access to fully customizable solutions that meet their individual needs.

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Asset Allocation Portfolio Management Tax Planning Financial Planning 105

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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Risk Management Management Nonprofit Compliance 52

MainStreet Financial Planning

MAY 31, 2022

Tax Planning: Things to work on before year-end. Though it may seem that we’ve just put last tax season to rest, now is the time to work on adjustments to optimize your 2022 taxes! Though it may seem that we’ve just put last tax season to rest, now is the time to work on adjustments to optimize your 2022 taxes!

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