XY Planning Network

FEBRUARY 6, 2023

Everyone’s tax situation is different, and as a result, there are no “one-size-fits-all" guidelines available as to what to keep, how long to keep it for, and what your tax professional actually needs to see versus what you need to keep as support documentation.

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Million Dollar Round Table (MDRT)

JULY 21, 2022

This is the time to do comprehensive financial planning: retirement planning, investment planning, tax planning and estate planning. You can help her make those large purchases and housing decisions that she put off during the grief stage.

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Charitable Planning Estate Planning Retirement Planning Tax Planning 97

Integrity Financial Planning

FEBRUARY 26, 2023

You may be eager to file your taxes to get your return as soon as possible, but filing before you have all your documents can actually cause delays in getting your return. It’s best to be patient and ensure that you have all the documents that you need for submitting your taxes. [1] Make sure you sign your documents!

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Harness Wealth

APRIL 16, 2025

The mechanics of recharacterization required careful documentation through IRS Form 8606 , along with coordination between financial institutions handling the movement of funds. Liquidity concerns often prompted investors to reverse conversions when they discovered insufficient funds to cover the resulting tax bill.

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Harness Wealth

JUNE 9, 2023

Recognizing the need for a financial plan is a significant first step toward the goal of achieving personal financial security. Table of Contents What is a Financial Plan? Table of Contents What is a Financial Plan? Why is Financial Planning so Important?

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Sara Grillo

OCTOBER 21, 2022

Financial paraplanners can be recent college graduates with no work experience, or may also be career changers with an extensive background in other areas that can add more value to an RIA owner, such as tax professionals. He cold called over 500 financial planning companies over a year or so to get to a full book of clients.

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Harness Wealth

MARCH 27, 2025

This avoids the double taxation that traditional corporations face, where profits are taxed at both the corporate and individual levels. Effective financial planning requires business owners to understand how their income is taxed, with their share of business income subject to individual, state, and local taxes.

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MazumaBusinessAccounting

JULY 15, 2021

Strategizing around how to pay yourself, your taxes, and other expenses. While there is a lot we could cover on the topic of business planning, for today we are going to focus on 3 important financial elements. Tax Planning. Calculating tax rates can be tricky for small business owners.

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Indigo Marketing Agency

MARCH 24, 2023

First and foremost, let’s review why CPAs make one of the best referral sources for financial advisors. 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.

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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. Complete your Harness Wealth profile and answer a few questions about your financial situation.

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Harness Wealth

FEBRUARY 5, 2025

However, those in low- or no-tax countries, such as the UAE or Singapore, face additional hurdles. If you go to a zero-tax jurisdiction, like Singapore, you dont get the same benefits. tax on their income, making financial planning even more important. An income tax treaty between the U.S.

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Taxes Compliance Accounting Government 52

XY Planning Network

JANUARY 23, 2023

Clients are often slow to respond, don’t provide the requested documents, completely ghost… well, you get the idea. While not everyone avoids taxes, there are a significant number of people who do. In fact, I would say it happens almost 100% of the time. However, this can feel a bit like a professional minefield.

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Taxes Clients Numbers Fee Only 84

Darrow Wealth Management

AUGUST 28, 2023

Sarah Grossman, Principal of BayState Business Brokers in Needham, MA, says this helps sellers “shape their timeline and any financial planning that needs to be completed prior to a sale.” You may need audited financial statements.

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Harness Wealth

MARCH 10, 2023

However, if the investment is sold before the three-year mark, the standard tax rate would apply, and the manager would need to pay tax on their carried interest. K-1 forms are reported on an individual’s tax return. Harness Wealth can help investors with cost-basis tracking and tax planning for portfolio companies.

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Harness Wealth

MAY 25, 2023

Keep in mind that many financial advisor certifications and distinctions, including the Certified Financial Planner (CFP) , uphold strict ethical standards, and require their financial advisors to act as a fiduciary, meaning that they must put the needs and best interests of the clients ahead of their own.

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Harness Wealth

DECEMBER 30, 2024

In these cases, the taxes owed would be triggered earlier than expected, which could disrupt the employees financial planning. To file the election, employees should prepare documentation similar to a 83(b) election. This includes a written statement that must be submitted to the IRS and a copy provided to the employer.

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Taxes Compliance Compensation Planning Financial Advisor 52

Fortune Financial

APRIL 11, 2024

Search for Unclaimed Funds and Gather Documentation: Start by locating any previous plan statements you may have, as they will provide your account number and the plan administrator’s contact information. Moreover, incorporating flexibility into financial planning and daily schedules can significantly enhance work-life balance.

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Retirement Retirement Planning Financial Advisor Accounting 59

Zajac Group

MARCH 3, 2023

Also, as we’ll cover further down, delivery isn’t always when you might assume, which can impact your tax planning if you’re caught unaware. With RSUs, there’s usually a clear vesting and delivery schedule you can count on for estimating taxes and engaging in financial planning.

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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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Taxes Clients Compliance Tax Planning 52

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. College planning for my kids. Long-term care planning. Estate planning. Comprehensive Financial Planning. Life insurance. Real estate.

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Harness Wealth

JUNE 1, 2023

When it comes to managing wealth and planning for a secure financial future, the services of financial professionals, such as financial advisors or wealth managers, are invaluable. Table of Contents What Services Does a Financial Advisor Provide? Are Robo-Advisors a Good Alternative?

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Wealth Management Financial Advisor Management Risk Tolerance 52

Harness Wealth

APRIL 17, 2023

Do You Owe Taxes In A Tender Offer? Pros and Cons of Tender Offers for Startup Employees Personal Financial Planning Considerations Frequently Asked Questions What is a Tender Offer? The decision of how many shares to sell in a tender offer depends on your personal financial situation, goals, and risk tolerance.

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Startup Taxes Risk Tolerance Sales 52

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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Taxes Tax Planning Education Ethics 52

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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Cordant Wealth Partners

AUGUST 16, 2024

Other pay : Certain employees can be eligible for “pay in lieu of redeployment” (9 weeks) and an “additional separation bonus” (8 weeks) It’s important to note that severance payouts are taxed as ordinary income in the year of payout. Tax planning for a transition out of Intel is critical.

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Planning Retirement Taxes Accounting 52

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. Scan the QR code below to connect with us.

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Retirement Planning Distribution Retirement Taxes 52

Gen Y Planning

DECEMBER 5, 2022

Get in touch with an estate planning attorney (now’s the time to tap into that company benefit if you have it) to get these documents drafted or updated. Set New Goals (Personal and Financial). Your goals set the tone for your financial plan—it’s what gives your plan heart, life, and meaning.

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Taxes Estate Planning Planning Budgeting 59

Cordant Wealth Partners

DECEMBER 2, 2022

It’s important to note, severance payouts are taxed, and taxed as ordinary income in the year of payout. So, if you separate from the company near the end of the year, earning both a full year of salary plus severance payouts, you could be pushed into a higher tax bracket. Tax planning for a transition out of Intel is critical.

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Planning Retirement Taxes Accounting 52

Nerd's Eye View

DECEMBER 30, 2024

We start with several articles on retirement planning: Why considering a client's retirement time horizon and spending flexibility could lead to more accurate (and often higher) safe withdrawal rates than the simpler "4% rule" Four unique risks retirees face when drawing down their assets, from sequence of returns risk to tax risk, and how financial (..)

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Financial Advisor Insurance Tax Planning Taxes 240

Harness Wealth

MARCH 24, 2023

Harness Wealth specializes in working with startup employees, founders, and other modern workers on unique tax and financial planning strategies for the long term. This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product.

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Harness Wealth

MARCH 9, 2023

Before you rush to any decisions, book an Equity Tax Planning Session today. Tax services provided through Harness Tax LLC. Harness Tax LLC is affiliated with Harness Wealth Advisers LLC, collectively referred to as “Harness Wealth”. It is provided for information purposes only.

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Zajac Group

FEBRUARY 7, 2023

The plan should not include any hedging strategies. Q5: What basic components should your 10b5-1 plan include? Many brokerages offer plan forms or sample documents to help you start crafting your 10b5-1 plan. For example: Cash flow: What cash-flow or other financial goals factor into the timing of the sales?

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Inside Information

SEPTEMBER 26, 2022

Increasingly sophisticated tax planning programs (Holistiplan and FP Alpha) are making the once-complicated art of building tax projections for clients less labor-intensive and more automated. At the same time, there has been a practice management trend toward ever-greater efficiency in advisory firm operations.

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Harness Wealth

MARCH 3, 2023

Harness Tax LLC is affiliated with Harness Wealth Advisers LLC, collectively referred to as “Harness Wealth” Harness Wealth Advisers LLC is an internet investment adviser registered with the Securities and Exchange Commission (“SEC”). It is provided for information purposes only.

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Harness Wealth

APRIL 28, 2023

This income may be subject to estimated quarterly tax payments. As a venture capital investor, it’s important to be aware of your tax obligations, including estimated quarterly tax payments. One tax document you may receive is a Schedule K-1 (Form 1065) from the partnership or LLC that you invested in.

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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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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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