Financial Symmetry

APRIL 9, 2025

Tax planning might not top everyone’s list of leisure activities, but in the middle of tax season, theres a hidden opportunity. In this episode, we talk about five strategies you can use during tax season to create opportunities to help you reach your financial goals.

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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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Nerd's Eye View

NOVEMBER 18, 2022

A potential compromise during the lame-duck Congressional session could see a boost to the child tax credit and extended tax breaks for businesses. From there, we have several articles on tax planning: How advisors can add value for their clients by managing their exposure to mutual fund capital gains distributions.

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Cordant Wealth Partners

NOVEMBER 18, 2024

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. Key Takeaways: Contributions to a donor-advised fund reduce your tax bill in the year your contribution is made.

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Nerd's Eye View

NOVEMBER 1, 2023

There are many tax planning strategies that allow financial advisors to demonstrate the ongoing value they provide to clients in exchange for the fees they charge. Advisors also can support the backdoor Roth process by communicating with clients' tax preparers about the strategy and why they are recommending it for their mutual client.

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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.

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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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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.

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Nerd's Eye View

JULY 12, 2024

Also in industry news this week: 2 House committees this week advanced legislation that would halt implementation of the Department of Labor's new Retirement Security Rule, which, combined with ongoing lawsuits, threaten to derail the regulation either before or soon after it becomes effective in late September A Federal judge has put the future of (..)

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Darrow Wealth Management

OCTOBER 24, 2022

For example, what’s the best time of year to take required minimum distributions, how to reinvest it, or if you can avoid paying tax on RMDs. Here are some of the most common RMD questions and planning opportunities for investors. How to take RMDs and avoid any taxes (legally of course).

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Darrow Wealth Management

JULY 1, 2024

The 2017 Tax Cuts and Jobs Act (TCJA) brought sweeping changes to the tax code, impacting every taxpayer and business owner. Here’s a summary of the major tax law changes coming in 2026 and some steps individuals and business owners can take to prepare. For some, this may lead to more taxes paid on capital gains.

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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. The first three options are pass-through entities, so profits and losses are distributed to the owners who are taxed on them.

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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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Harness Wealth

MARCH 29, 2023

Below are some insights from Richard Morris, Executive Vice President and Director of Tax Services, and Alex Seleznev, Senior Investment Advisor and Chief Operating Officer of MBI, LLC. And depending on your specific tax situation, you may be paying between 15% and 20% or even more in capital gain taxes.

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Carson Wealth

NOVEMBER 3, 2022

And while the holidays are traditionally a time to reflect on our blessings and help those less fortunate than ourselves, there’s another factor influencing the timing of these donations — and that’s the goal of minimizing a tax bill. Three Tax-Advantaged Donation Strategies to Consider. Create a donor-advised fund (DAF).

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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. Employee matters.

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MainStreet Financial Planning

DECEMBER 8, 2022

We would like to take this opportunity to remind you about your annual Required Minimum Distribution (RMD). As you may know, the Internal Revenue Service (IRS) requires that you take an annual distribution from your retirement accounts starting with the year in which you turn 72 years old and every year thereafter. Annual deadlines.

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Carson Wealth

MARCH 21, 2025

Donations to endowment funds are tax-deductible, giving them a place in your overall financial management and tax plan. An endowment offers benefits that can extend beyond tax deductions and financial efficiency. The usage policy establishes the purposes for which the charity can use the fund distributions.

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Harness Wealth

JANUARY 9, 2025

Backdoor strategies are retirement contribution methods that allow individuals to bypass income limits and contribute to tax-advantaged retirement accounts. The strategies typically involve making after-tax contributions to a traditional IRA or 401(k), then converting those funds into a Roth IRA or Roth 401(k). Complex setup process.

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Covisum

JANUARY 9, 2023

is significant legislation signed into law on December 20, 2022, and is expected to have several impacts on retirement income planning. It contains several provisions designed to improve Americans' retirement security, including later required minimum distributions (RMDs), 529-to-Roth rollovers, and other tax planning opportunities.

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Darrow Wealth Management

SEPTEMBER 26, 2024

If you have time to dig into the details, here’s a primer on what you can do after maxing out a 401(k) including the tax advantages of each account type. If you have time to dig into the details, here’s a primer on what you can do after maxing out a 401(k) including the tax advantages of each account type.

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James Hendries

SEPTEMBER 20, 2022

Income shifting (also known as income splitting) may be defined as dividing income in a way that lowers overall taxes. When using these methods to shift income to a child, it’s always important to bear in mind the kiddie tax. Timing the receipt of your income can also help you lower your taxes.

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Yardley Wealth Management

FEBRUARY 1, 2022

The post Part 1: The Tools of the Tax-Planning Trade appeared first on Yardley Wealth Management, LLC. Part 1: The Tools of the Tax-Planning Trade Whether you’re saving, investing, spending, bequeathing, or receiving wealth, there’s scarcely a move you can make without considering how taxes might influence the outcome.

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Yardley Wealth Management

FEBRUARY 1, 2022

The post Part 1: The Tools of the Tax-Planning Trade appeared first on Yardley Wealth Management, LLC. Part 1: The Tools of the Tax-Planning Trade. Whether you’re saving, investing, spending, bequeathing, or receiving wealth, there’s scarcely a move you can make without considering how taxes might influence the outcome.

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Integrity Financial Planning

SEPTEMBER 11, 2023

Most retirees take the standard deduction on their taxes as opposed to choosing to itemize. [1] 1] But, as of the 2017 Tax Cuts and Jobs Act, the only way to benefit tax-wise from donations is to opt to itemize. [1] This may allow your children to itemize their taxes and reduce their tax bracket beyond the standard deduction. [1]

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Harness Wealth

OCTOBER 2, 2024

To attract new clients and foster long-term relationships, tax advisors could consider adopting digital marketing strategies. It’s also an important touchpoint to introduce your tax practice’s staff to potential clients, giving you to potential build a personal relationship from the start.

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Darrow Wealth Management

NOVEMBER 20, 2023

Considering Roth conversions in retirement When you convert pre-tax money from an IRA to an after-tax Roth IRA, the amount converted is included in your taxable income. But in retirement, without a paycheck, it can be a great opportunity to control your tax situation for the year and fill up the lower tax brackets.

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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.

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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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Harness Wealth

APRIL 28, 2023

If you earn income from various sources throughout the year, such as equity windfalls, venture capital fund distributions, crypto investments, and sales, or small business income, you will need to pay estimated quarterly taxes. Table of Contents What Are Estimated Quarterly Taxes?

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Darrow Wealth Management

DECEMBER 23, 2022

Congress is once again poised to make sweeping changes to the retirement and tax rules in the last two weeks of the year. Raise the required minimum distribution age. In the new bill, the age when retirees must begin drawing from non-Roth tax-deferred retirement accounts would increase to 73 in 2023 and 75 in 2033.

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WiserAdvisor

AUGUST 31, 2023

A financial advisor can help with maximizing your retirement income through tax planning After retirement, your income sources may become limited to pensions, Social Security benefits, and investment income. A financial advisor can craft tax-efficient withdrawal strategies to minimize the tax burden on your retirement income.

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Harness Wealth

OCTOBER 24, 2024

What do you need to optimally complete and file your taxes? This article covers a comprehensive list of the most common forms, documents, and information needed to file taxes. If you need a cheat sheet, download our 1-page tax prep checklist. Use this tax prep checklist as a tool to save time ahead of tax filing.

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Zoe Financial

FEBRUARY 14, 2023

Zoe’s Tell-All: 2023 Tax Season Published February 14th, 2023 Reading Time: 5 minutes Written by: The Zoe Team If you’re a golfer, you know a lot goes into the brilliant game. Similarly, filing taxes includes many steps and details everyone needs to know about. Tax planning can be overwhelming , but it doesn’t have to be.

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Harness Wealth

MARCH 10, 2023

Whether you’re in venture capital, private equity, or angel investing, it’s important to understand the tax implications of your investment income. One of the unique characteristics of carried interest is that it is taxed as a capital gain rather than ordinary income. K-1 forms are reported on an individual’s tax return.

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Darrow Wealth Management

JULY 1, 2024

The 2017 Tax Cuts and Jobs Act (TCJA) brought sweeping changes to the tax code, impacting every taxpayer and business owner. Here’s a summary of the major tax law changes coming in 2026 and some steps individuals and business owners can take to prepare. For some, this may lead to more taxes paid on capital gains.

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Harness Wealth

MARCH 5, 2024

Tax advisors, and other tax professionals , offer services from preparing and filing annual tax returns to comprehensive tax strategies that help minimize taxes and preserve wealth over time. In this guide, we’ll explore the average fees of tax advisors in the US for 2024.

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