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.

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Taxes Consulting Professional Services Tax Planning 52

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

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Accounting Consulting Taxes 260

Calculated Risk

MARCH 7, 2024

From Manheim Consulting today: Wholesale Used-Vehicle Prices Declined in February Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in February compared to January. Tax refunds have picked up over the last two weeks, with the average refund now 4% higher than 2023 levels at this time.

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Consulting Retail Taxes Economics 344

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. Property taxes accounted for 70.2 You can find it here.

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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? You can find it here. You can find it here.

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Taxes Accounting Government Consulting 52

Harness Wealth

MARCH 6, 2025

As is traditional, the 2025 IRS tax filing deadline is April 15th. In this guide, well explore the 2025 tax extension process, the reasons for requesting an extension, and how a tax advisor from Harness can help you. Table of Contents What is a tax extension? Why do I need a tax extension? This is not the case.

Taxes 52

Taxes Tax Planning Consulting Electronics 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.

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Assets Estate Planning Taxes Wealth Management 98

Calculated Risk

FEBRUARY 7, 2024

From Manheim Consulting today: Wholesale Used-Vehicle Prices Flat in January Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were unchanged in January compared to December. This index from Manheim Consulting is based on all completed sales transactions at Manheim’s U.S. but down 9.2% from a year ago.

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Consulting Taxes Economics Sales 314

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

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. Can Hiring Your Children Help You Save on Taxes? Can You Claim Your Pet as a Tax Write-Off?

Taxes 52

Taxes Assets Media Education 52

Harness Wealth

MARCH 27, 2025

As dynamic as the secondary market may be, secondaries come with complex tax implications that can significantly impact returns if not properly managed. What are the tax implications of secondary transactions? What are the tax challenges in secondary transactions? What tax strategies optimize secondary investments?

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Taxes Tax Planning Assets Compliance 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 Sales Portfolio 52

Harness Wealth

MARCH 14, 2025

For many small tax firms, the process of collecting client tax documents can be a time-consuming and a prolonged process. The good news is that technology solutions, like Harness, can streamline document collection and transform the way tax professionals work.

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Taxes Compliance Tax Planning Clients 52

Harness Wealth

JANUARY 29, 2025

April 15 marks the IRS tax return filing deadline for 2025. Although this is the traditional tax filing deadline, given the spate of recent natural disasters (such as the California wildfires and Hurricane Milton), the IRS is granting certain filing and payment extensions beyond this date.

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Taxes Medical Distribution Tax Planning 52

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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Taxes Distribution Retirement Retirement Planning 95

The Big Picture

APRIL 3, 2023

The consulting firm Global SWF tracks all the important info about Sovereign Wealth Funds (SWFs) and Public Pension Funds (PPFs). Its an amazing collection of charts and data. The asset value peak was $33.6 trillion (USD) in 2021; that’s down only slightly to $31.4 trillion as of the end of 2022.

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Assets Consulting Taxes Marketing 312

Abnormal Returns

DECEMBER 25, 2023

Podcasts Michael Kitces talks with Ted Jenkin who is the consultant of JTPD Partners, a firm that helps financial advisors gather offers, negotiate, and ultimately sell their advisory firms. morningstar.com) Wealthy couples have some tax levers to pull in retirement. riabiz.com) When should you hire?

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Financial Advising Startup Commission Financial Advice 289

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. How Are Alternative Investments Taxed?

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Taxes Investments Investing Startup 52

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. Starting at $2,500.

Tax Planning 52

Tax Planning Taxes Planning Estate Planning 52

Financial Symmetry

MARCH 3, 2025

If youve been confused when filing your taxes when its time to handle your backdoor Roth contribution, youre not alone. The tricky form 8606 can cause headaches and frustration when preparing your taxes. This method allows individuals whose income exceeds the Roth IRA contribution limits to still take advantage of its tax benefits.

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Taxes Retirement Consulting Financial Advisor 64

Abnormal Returns

MARCH 17, 2024

axios.com) Everybody wants simpler taxes, but it never happens. cnn.com) The management consulting business is struggling. (axios.com) Private equity return dispersion is a problem. mrzepczynski.blogspot.com) How search funds work. nytimes.com) Policy How much the U.S. relies foreign born STEM talent. nytimes.com)

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Financial Advising Commission Valuation Consulting 288

Nerd's Eye View

MARCH 18, 2025

What's unique about Ali, though, is the path of how he built an advisory business by helping (high-net-worth) business owners achieve their financial goals while being true to their entrepreneurial mindset and drive (which can sometimes conflict with ‘standard' financial planning advice), which was so successful that he eventually sold his advisory (..)

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Financial Advisor Clients Financial Planning Taxes 130

The Big Picture

SEPTEMBER 28, 2022

You can control your Taxes , by planning your stock selling using a variety of methods that minimize what you pay (the guidelines the IRS has established is very helpful with this but you should consult a professional to do this properly). You must Save enough money relative to your income by living within your means. Volatility.

Asset Allocation 342

Asset Allocation Financial Planning Assets Media 342

Carson Wealth

FEBRUARY 16, 2024

By Mike Valenti, CPA, CFP ® , Director of Tax Planning It’s that time of year again! W-2s, 1099s and mortgage statements have been to hit your mailbox: a daily reminder that it is, once again, Tax Season. Overall, it was a relatively quiet year on the tax front. Although Congress isn’t done yet! More on that later.)

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Taxes Consulting Accounting Planning 96

Good Financial Cents

JANUARY 19, 2023

A major decision in retirement planning is whether to make pre-tax or Roth (after-tax) 401k contributions. Pre-tax contributions go into your retirement account with money that has not been taxed, and then taxes will be paid when the funds are withdrawn in retirement.

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Taxes Retirement Accounting Consulting 97

Darrow Wealth Management

NOVEMBER 17, 2022

In November 2022, proponents of the Massachusetts ‘millionaires’ tax (question 1) won their bid to nearly double the income tax rate on individuals with taxable income over $1M a year. As proposed, the new legislation would increase these tax rates to 9% and perhaps even 16% , respectively, starting in 2023.

Taxes 107

Taxes Wealth Management Tax Planning Planning 107

Integrity Financial Planning

JUNE 12, 2023

As you plan for retirement, it’s important to consider tax optimization strategies to minimize your tax liabilities. Here are three key ways to optimize taxes in retirement, based on information from sources published between 2022 and 2023.

Retirement 92

Retirement Taxes Consulting Financial Planning 92

The Chicago Financial Planner

NOVEMBER 27, 2022

One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. Both plans allow for contributions up your tax filing date, including extensions for the prior tax year. As a fellow small businessperson, I know how hard you work.

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Retirement Planning Retirement Planning Financial Planner 263

Walkner Condon Financial Advisors

MAY 31, 2024

Breathe Easier Next Tax Season with These Planning Strategies Every year, most of us smile when we see April 15th in the rearview mirror. The completion of our tax returns being filed marks the beginning of a nine month period where we don’t need to think about funny acronyms and form numbers.

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Taxes Financial Advisor Tax Planning Distribution 105

Darrow Wealth Management

JULY 30, 2024

For founders, employees, and executives with stock-based compensation, an 83(b) election can be a powerful tax planning tool. When you make an 83(b) election, you’re opting to pay tax on unvested shares now, instead of when the stock vests. In tax lingo, this is known as substantial risk of forfeiture.

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Taxes Tax Planning Startup Valuation 92

Nerd's Eye View

FEBRUARY 19, 2024

Digital hygiene, encryption security, and good staff training can all be enormous factors in the overall safety of the company, as explained by Patrick Hennessy, Schwab's Director of Business Consulting. Likewise, while CRM usage has slipped by about 5%, the overall number of advisors who use a CRM still remains at a dominant 92%.

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Consulting Financial Advice Engineering Financial Advisor 244

Zoe Financial

JANUARY 28, 2025

Nothing in these materials is intended to serve as personalized tax and/or investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Opinions expressed by Zoe Financial are based on economic or market conditions at the time this material was written.

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Marketing Marketing Financial Advisor Taxes 98

Harness Wealth

MARCH 27, 2025

Pass-Through Entity Tax (PTET) is a state-level tax mechanism designed to sidestep the federal State and Local Tax (SALT) deduction limit. Allowing a pass-through entity to pay state income taxes directly, PTET effectively shifts the tax burden from individual owners to the business itself.

Taxes 52

Taxes Compliance Consulting Financial Planning 52

Nerd's Eye View

AUGUST 28, 2023

In this Guest Post, Grier Rubeling, a transition consultant for RIAs and founder of Advisor Transition Services, offers a series of actionable tips to help advisors (and their clients) get through the 'Schwabitrade' transition smoothly.

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Mish Talk

NOVEMBER 29, 2022

Cost of Owning "Nationally, it cost $888 a month more to buy an entry-level single-family home than to rent it, according to September data from John Burns Real Estate Consulting. Image courtesy of John Burns Real Estate Consulting. The cost of owning a home with a mortgage is the most expensive since at least 2000.

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Sales Economics Consulting Economy 285

Darrow Wealth Management

MARCH 13, 2025

Charitable Contributions: Donating appreciated stock to charity while reducing capital gains tax. But if you’re looking to reduce capital gains tax, this strategy won’t help. This strategy is riddled with potential tax consequences as well as tax and estate planning opportunities.

Management 66

Management Taxes Estate Planning Asset Allocation 66

Carson Wealth

JULY 3, 2024

Get Help with Tax Planning Tax planning is a critical component of financial management. Proper tax planning can save your business money and ensure compliance with regulations. More importantly, be prepared to pay the proper taxes throughout the year. All taxpayers are required to meet Tax Safe Harbor.

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