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10 High-Income Tax Planning Strategies to Complete Before 2025: A Year-end Checklist

Harness Wealth

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. What is the Lifetime Gift Tax Exemption? million ($27.22

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What is an 83(i) Election and How Do You You File One?

Harness Wealth

The key differences between 83(i) and 83(b) elections The benefits and risks of an 83(i) election The eligibility criteria for an 83(i) election How to file an 83(i) election 83(i) compliance requirements for companies Is an 83(i) election right for you? What is an 83(i) election?

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Stock Options, Explained: Incentive Stock Options vs. Non-Qualified Stock Options

Carson Wealth

Stock options can be either qualified or non-qualified, and the primary difference is how they are taxed. In practice, ISOs create complex tax compliance and planning issues for both employers and employees. As previous years have been relatively predictable, Liam and Dana are not concerned with tax planning.

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