Harness Wealth

DECEMBER 8, 2022

Related article: Tax Benefits of a Donor-Advised Fund. Estate planning. The end of the year is a common time to take stock of your long term estate planning. An example of estate planning to preserve assets for beneficiaries to consider is utilizing a Grantor Retained Annuity Trust (GRAT).

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Harness Wealth

JUNE 23, 2023

Estate planning is a critical component of a comprehensive financial plan. Furthermore, estate planning includes aspects such as tax minimization strategies, asset protection, and charitable giving. There are many different types of trusts, each designed to address specific estate planning needs.

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Darrow Wealth Management

OCTOBER 1, 2024

Choosing whether to fund a trust with your assets is an important decision in the estate planning process. A will and a trust are two different estate planning tools. There are no changes to the tax treatment of these assets. Limiting access can provide estate tax planning benefits for some).

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Ballast Advisors

SEPTEMBER 5, 2024

Navigating the complexities of estate planning can often feel like charting through uncharted waters, especially when it comes to handling assets, taxes, and ensuring one’s legacy is preserved according to their wishes.

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Zajac Group

NOVEMBER 7, 2024

Creating wealth that can provide financial security for generations to come is an incredible feat, and it requires careful planning, consideration, and communication among family members. Let’s take a look at the tax impact and other considerations of each. . Are You in the Process of Building Your Estate Plan?

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Inside Information

JANUARY 31, 2025

Depending on a firms tech strategy, she wrote, advisors may have to log in to the CRM, custodian, portfolio accounting, planning software, tax planning software, estate planning software, social security maximizer software, etc.,

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Carson Wealth

APRIL 25, 2024

Tax Planning: Optimize tax efficiency through strategies such as retirement contributions, tax-deferred accounts, and deductions and credits. Estate Planning: Draft essential documents such as wills, trusts, and powers of attorney to ensure the orderly transfer of assets.

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Harness Wealth

FEBRUARY 4, 2025

Step-Up in Basis (Estate Planning for Alternative Investments): When heirs inherit alternative investments, the cost basis is ‘stepped up’ to the fair market value at the time of the original owner’s death, eliminating any unrealized capital gains. What tax forms do alternative investments require?

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Darrow Wealth Management

AUGUST 28, 2023

Your business advisory team may consist of: a business broker or M&A advisor, accounting and tax advisors, and transaction/M&A attorney. On the personal side, your financial advisor , estate planning attorney, and CPA/tax advisor should be involved throughout the process. You may need audited financial statements.

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Park Place Financial

MARCH 16, 2022

The following areas are among the most vital to discuss with high-net-worth clients: Estate Planning. To ensure your wealth benefits loved ones, you should prepare your estate and determine how to distribute your assets. Estate planning for high-net-worth individuals is also significant because recent developments in U.S.

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Harness Wealth

FEBRUARY 13, 2023

Whether you’re planning for an upcoming liquidity event , such as an IPO, or you’re interested in bringing more sophistication to your overall tax strategy, Harness Tax offers a range of services to meet your needs. We’ll provide a shortlist of tax experts who specialize in your profile and needs. How does it work?

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Discipline Funds

DECEMBER 20, 2023

Do so before year-end and plan for next year’s RMD now. Tax Planning Talk to your CPA now about your 2023 taxes and whether there’s anything you can do before year-end to help your tax bill. Estate Planning Do you have a trust and will? Harvest losses in taxable accounts.

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Clever Girl Finance

MARCH 19, 2024

It details your current money situation and financial system, including investing, saving, retirement, and estate planning. So, what is a financial plan, in simple terms? Plan for taxes Yup, taxes! Taxes are annoying, but they’re certainly not going away anytime soon.

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Harness Wealth

SEPTEMBER 23, 2024

The Challenge: Tax Firms and CPAs Struggle to Expand Client Relationships Today, there is a significant opportunity for tax practices and CPAs to expand and deepen their tax-client relationships by offering more valuable, long-term services, including comprehensive tax planning.

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Fortune Financial

JUNE 2, 2023

Each retirement plan may have its own rules regarding when and under what circumstances NUA is allowed. We recommend reviewing your plan’s documentation or consulting with the plan administrator to understand the specific triggering events. What Are The Risks of NUA?

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Harness Wealth

JUNE 5, 2024

Preferably someone holding stock options (ISOs or NSOs) with limited understanding of the tax implications of their holdings,” Kelley explains. Onboarding tax clients with ease “Client onboarding is pretty quick with Harness. His team consists of Gabe, from the Harness Concierge team , and Francis, a senior tax associate at Harness.

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Gen Y Planning

DECEMBER 5, 2022

Check-In On Your Estate Plan. It’s really easy to put off estate planning. With so many other responsibilities and commitments, your estate plan may not even be on your mind. But proper planning for your children, dependents and loved ones is an important task. Set New Goals (Personal and Financial).

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Brown Advisory

JUNE 2, 2016

Terms like “estate planning” and “wealth transfer” provide little shelter from a painful reality—a large portion of what we do as advisors focuses on the issues associated with our clients’ mortality. This may generate an immediate federal gift tax liability. Dire Call: Helping When It Is Most Needed. Thu, 06/02/2016 - 13:56.

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Harness Wealth

MARCH 5, 2024

It’s important to note that tax advisors include three types of tax professionals : Certified Public Accountants (CPAs) Enrolled Agents (EAs) Tax Attorneys All three may offer different fee structures depending on the services offered and their firm’s unique expertise.

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Harness Wealth

JUNE 9, 2023

While it may seem like a luxury that is only available to the wealthy, anyone is capable of building an effective financial plan and putting it into action. Without effective personal financial management, you risk losing money to poor budgeting, poor tax planning, or even just to inflation.

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Brown Advisory

DECEMBER 4, 2017

presidential election, we have grappled with the lack of clarity regarding the details of new tax legislation. The outcome of the tax reform debate is likely to impact how we advise clients on tax planning, estate planning and a host of other topics. Since last year’s U.S.

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Harness Wealth

APRIL 26, 2022

They make it simple to donate to your favorite charity, and handle obtaining your tax documentation as well. If you want to donate a certain amount to charity over a period of time, a donor-advised fund allows you to take the entire donation as a tax deduction in the first year, but then contribute to the charity over time.

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Indigo Marketing Agency

OCTOBER 6, 2020

In fact, I’m one of the oldest of the millennial generation and I need help from my advisor with all of the following: Retirement planning. Tax planning. Real estate. College planning for my kids. Long-term care planning. Estate planning. Life insurance. Reassurance .

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WiserAdvisor

MAY 11, 2023

They can also help with tax planning, ensuring that the transfer of assets is done in a way that minimizes tax liability for both the estate and the beneficiaries. Professional advisors and estate planners can also help navigate complex legal and financial issues related to inheritance. These are: 1.

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Harness Wealth

MAY 25, 2023

The per-hour fee structure is often used by financial advisors offering advice on estate planning; debt management; tax strategies; and Social Security claiming strategies. Our network of financial advisors is here to help with your unique financials, from startup equity tax planning to comprehensive financial planning.

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Robert B. Ritter Jr.

MAY 30, 2022

(Click here for Blog Archive)(Click here for Blog Index) (Presentations in this Blog were created using the Loan-Based Split-dollar System and Wealthy and Wise®) Blog #221 follows up on Blog #220, which described coupling Premium Financing with Wealthy and Wise® to produce a powerful wealth planning concept called “Zero Estate Tax.”

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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.

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Robert B. Ritter Jr.

JANUARY 31, 2022

estate planning has escaped the tax bombs Democrats wanted to drop. With Joe Biden’s Build Back Better (BBB) collapsed, it’s back to rational planning concepts, like the intentionally defective […]. It looks like U.S.

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Discipline Funds

DECEMBER 29, 2024

Do so before year-end and plan for next years RMD now. Tax Planning Take advantage of any last minute items that might help your 2024 tax bill. Estate Planning Do you have a trust and will? Double check your retirement plan and insurance beneficiaries. Harvest losses in taxable accounts.

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Harness Wealth

JANUARY 17, 2025

Some platforms, such as Harness, maintain networks of vetted tax advisors with expertise in a variety of fields, making it easy to get introduced to specialists when needs arise. Some tax advisors specialize in tax planning, while others may concentrate on auditing, financial consulting, or simply annual tax filing.

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Harness Wealth

MARCH 13, 2023

However, it’s important to keep proper documentation and ensure that the charitable organization you donate to is eligible for tax deductions. State Residency and Domicile: Where you live can have a significant impact on your taxes.

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Harness Wealth

JANUARY 28, 2025

For corporations, Trumps proposal includes a corporate tax rate reduction from 21% to 20%, with an additional cut to 15% for companies engaged in manufacturing in the U.S. This initiative aims to provide more tax relief to U.S.-based Proper documentation of losses can help reduce taxable income and avoid overpayment.

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