Harness Wealth

SEPTEMBER 23, 2024

Key Takeaways: Too many tax practices are bogged down in commoditized administrative tasks and compliance work, making it challenging to cross-sell services to expand client relationships. The more a firm can either automate processes or outsource tasks, the more time it’ll have to build deeper client relationships.

Taxes 52

Taxes Clients Compliance Tax Planning 52

Indigo Marketing Agency

MARCH 24, 2023

Expertise in Tax Planning & Compliance: A CPA can help you identify tax-saving opportunities and help keep your clients in compliance with tax laws, reducing the risk of costly penalties and fees. This makes you more referable, both from a client standpoint and a professional network standpoint.

Financial Advisor 52

Financial Advisor Tax Planning Taxes Clients 52

Harness Wealth

FEBRUARY 19, 2025

Ensure BOI reporting compliance and remain updated with the latest BOI regulations with a tax advisor from Harness. Get started Harness makes it easy to find tax and financial advisors best suited to your needs. Get started Harness makes it easy to find tax and financial advisors best suited to your needs.

Taxes 52

Taxes Financial Advisor Consulting Certification 52

Harness Wealth

JANUARY 29, 2025

Selling assets purely for tax purposes can disrupt long-term investment strategies and reduce diversification. When you have limited expertise: tax-loss harvesting requires careful monitoring and compliance with IRS regulations. Is tax-loss harvesting right for you?

Taxes 52

Taxes Assets Sales Portfolio 52

Harness Wealth

SEPTEMBER 18, 2024

These numbers show an opportunity for tax practices to build deeper, meaningful relationships with their clients, helping them to navigate some of life’s most challenging financial decisions. And you’ll see in our Q&A below, that tax advisors can bring estate planning into the conversation early on in a client relationship.

Taxes 52

Taxes Clients Planning Estate Planning 52

Harness Wealth

JANUARY 9, 2025

Mega Backdoor Roth 401(k): In this case, you convert your after-tax contributions directly into a Roth 401(k) within your employer’s plan. Remaining compliant Implementing a Mega Backdoor strategy requires precision to ensure compliance with IRS rules and to maximize its benefits.

Taxes 52

Taxes Planning Retirement Retirement Planning 52

Harness Wealth

FEBRUARY 20, 2024

Employed by law firms, corporate legal departments, or running their own practices, tax attorneys can be looked to for legal tax issues and disputes, along with comprehensive tax planning and preparation. The services provided by these professionals vary but may fall into the following categories.

Taxes 52

Taxes License Education Tax Planning 52

Harness Wealth

OCTOBER 23, 2023

If you’re a CPA who works with clients on more than just annual tax returns, you’re likely already providing accounting advisory services. This emerging discipline offers a wealth of opportunities for both clients and accounting firms, and focuses on providing strategic guidance and future-focused tax planning throughout the year.

Accounting 52

Accounting Taxes Strategic Planning Estate Planning 52

Harness Wealth

MAY 18, 2023

Advisor platforms like Dynasty, Hightower, and Focus Financial, among others, have enabled financial advisors the opportunity to be entrepreneurs while delivering what they refer to as a “best-in-class” experience relative to the large institutions they came from. Tax services provided through Harness Tax LLC.

Taxes 52

Taxes Wealth Advisor Marketing Marketing 52

Carson Wealth

MAY 4, 2023

Stock options can be either qualified or non-qualified, and the primary difference is how they are taxed. A qualified stock option is traditionally referred to as an Incentive Stock Option (ISO). In practice, ISOs create complex tax compliance and planning issues for both employers and employees.

Taxes 52

Taxes Sales Planning Tax Planning 52

Harness Wealth

SEPTEMBER 18, 2023

Operational Support: From scheduling calls to assisting with tax return e-filing, the Harness Concierge team will provide the assistance you need to run your firm efficiently, allowing you to focus on what you do best – serving your clients. This is a publication of Harness Tax, LLC. Tax services provided through Harness Tax LLC.

Taxes 59

Taxes Accounting Clients Management 59

Harness Wealth

MARCH 17, 2023

These changes may affect your overall tax liability, depending on your income and the specific DeFi activities you engage in. It is essential to stay informed about these updates and adjust your tax planning strategies accordingly. Tax services provided through Harness Tax LLC.

Taxes 59

Taxes Government Assets Accounting 59

Harness Wealth

APRIL 28, 2023

Making accurate and timely estimated tax payments helps you manage your taxable income, avoid penalties, and ensure you’re in compliance with the IRS. Tax services provided through Harness Tax LLC. Failing to make these payments on time can result in penalties and interest charges.

Taxes 52

Taxes Distribution Startup Assets 52

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. Reputational risk.

Risk Management 52

Risk Management Management Nonprofit Compliance 52

The Big Picture

AUGUST 15, 2023

Let me say what your compliance wouldn’t allow you to say. He made a statement in that letter really referring to Berkshire having underperformed for the first period of time, that even in periods as long as 10 years, your results can be heavily influenced by the starting point or the ending point. RITHOLTZ: You were crushing it.

Management 130

Management Investments Investing Government 130

Sara Grillo

APRIL 11, 2022

These services often include recommendations on investments, financial planning, retirement, Social Security, Medicare, tax planning, and other wealth-related topics. He also has considerably less of a compliance, operational, and administrative burden because he is not taking custody or discretion of his clients’ assets.

Financial Advisor 52

Financial Advisor Portfolio Clients Management 52

Harness Wealth

FEBRUARY 4, 2025

These include legal fees, administrative costs, audit expenses, compliance costs, and operational fees. A qualified tax advisor can help you: Navigate complex tax reporting requirements , including K-1 forms for private equity, hedge funds, and real estate partnerships. This article is a product of Harness Tax LLC.

Taxes 52

Taxes Investing Investments Startup 52

Sara Grillo

MAY 8, 2023

A tax advantaged asset Death benefit Tax planning needs Cash value growth Cash value liquidity benefits #2 Use a realistic (low) crediting rate in the illustration The assumed interest rate in an illustration is what is driving the long term performance. BOBBY SAMUELSON: Illustrations are a distraction.

Insurance 59

Insurance Clients Financial Advisor Accounting 59

Harness Wealth

MARCH 20, 2025

Similarly, individuals with lower home-related expenses, like mortgage interest or property taxes, may find the simplified method’s flat-rate deduction comparable to, or even more advantageous than, the standard method. It’s important to be familiar with these rules to ensure compliance and reduce the risk of an audit.

License 52

License Taxes Insurance Consulting 52

Harness Wealth

JANUARY 17, 2025

Tax season brings challenges for many, especially those with complex financial situations like equity compensation, multiple income streams, or significant investments. From identifying deductions to ensuring compliance, navigating tax complexities can quickly become overwhelming.

Taxes 52

Taxes Certification Ethics Communication 52

Harness Wealth

MARCH 25, 2025

With that said, detailed records, including receipts and mileage logs, are essential for substantiating all deductions and ensuring IRS compliance. Travel nursing and taxes Travel nurses face a specific tax challenge, primarily due to their pay structure and the concept of a “tax home.”

Medical 52

Medical Taxes Tax Planning Education 52