Carson Wealth

MARCH 26, 2024

By Mike Valenti, CPA, CFP®, Director,Tax Planning LLCs can provide legal protections and a level of anonymity, either or both of which can be beneficial for business owners, investors, and others with valid intentions. From the business : Legal business name and all DBA names Physical address (not a P.O.

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Inside Information

JANUARY 31, 2025

But a number of readers got back to me with a reality check. 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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Risk Tolerance Consulting Estate Planning Wealth Advisor 40

Harness Wealth

FEBRUARY 19, 2025

Enter reporting company information Legal Name: Enter the full legal name of the reporting company exactly as it appears on official documents. EIN/Tax ID: Enter the company’s EIN or other applicable tax identification number. Pay close attention to names, dates, addresses, and identification document details.

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Taxes Financial Advisor Consulting Certification 52

Harness Wealth

MARCH 6, 2025

W-2 employees have taxes withheld from their paychecks, while freelancers receive a 1099 NEC (or 1099 MISC ) with no withholding, making them responsible for calculating and paying their own income tax, Social Security, and Medicare taxes. This contract serves as documentation for the IRS, substantiating your self-employment.

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Taxes Consulting Professional Services Tax Planning 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. However, this can feel a bit like a professional minefield.

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MainStreet Financial Planning

JANUARY 31, 2024

We are a Financial Planning Firm, that has been around for over 21 years dedicated to providing comprehensive and personalized financial solutions for our clients, including tax planning and preparation, and estate document preparation. Please also note that the name of our financial planning firm is spelled differently.

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Harness Wealth

OCTOBER 24, 2024

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. To plan your tax timeline, see our article, 2025 Tax Deadline Information for Individual Filers.

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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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Harness Wealth

MARCH 27, 2025

Instead, they receive a federal tax credit, simplifying their tax filing process. While PTET offers clear potential benefits, it also has a number of disadvantages that small business owners need to consider carefully. How Harness can help As with most tax strategies, the devil is in the details, and PTET is no exception.

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Harness Wealth

DECEMBER 30, 2024

It’s important to note that while the rights and privileges must be similar, the number of shares granted to each employee can be different, as long as a significant number of shares are available to all eligible employees. To file the election, employees should prepare documentation similar to a 83(b) election.

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Darrow Wealth Management

AUGUST 28, 2023

He says, “the biggest mistake many businesses owners make is not running a competitive process when the business is capable of attracting interest from a broad number of buyers. The documentation just isn’t typically necessary in the regular course of business. You may need audited financial statements.

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Sales Estate Planning Wealth Advisor Taxes 91

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. Here’s a big bonus: the annual gifting limit is per beneficiary—and there’s no limit on the number of beneficiaries you can gift to.

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Harness Wealth

JULY 29, 2024

While none of the actual CTA requirements have changed this year, a number of lawsuits have challenged, or seek to challenge, the constitutionality or enforcement of the CTA. contained a number of changes relevant to estate planning. The SECURE Act 2.0

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Harness Wealth

FEBRUARY 5, 2025

The Physical Presence Test The Physical Presence Test requires a number of characteristics to be met: The U.S. However, choosing which test to use for FEIE qualification depends on a number of factors, and its advisable to speak to a tax professional to clarify your position. An income tax treaty between the U.S.

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Taxes Compliance Accounting Government 52

Cordant Wealth Partners

AUGUST 16, 2024

Income Typically, Intel offers a certain number of weeks of salary, plus a payout of earned benefits and bonuses as part of a layoff package. Severance pay: Severance at Intel is typically structured as a fixed number of weeks + weeks based on the length of service. Tax planning for a transition out of Intel is critical.

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James Hendries

DECEMBER 11, 2022

It is a time to compile data, review the numbers, evaluate strengths and weaknesses, and determine growth opportunities for the future. A business owner would be keen to review several factors in preparing year-end documents and preparing for the following year. Here are five tips that may assist with organizing a strategy.

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Harness Wealth

MARCH 5, 2024

This fee can include consulting around specific issues or all-inclusive packages for outsourcing accounting and tax services. Fixed per-service fees: Some tax advisors charge a set fee for individual services that allows for predictable but flexible billing based on the number and complexity of services.

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Taxes Tax Planning Education Ethics 52

Discipline Funds

DECEMBER 20, 2023

There’s really no need for so much complexity in a portfolio and if your portfolio has an excessive number of positions you might want to reconsider your allocation. Do so before year-end and plan for next year’s RMD now. If you have old trust and will documents now is a good time to review and change them as needed.

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Harness Wealth

APRIL 17, 2023

Pros and Cons of Tender Offers for Startup Employees Personal Financial Planning Considerations Frequently Asked Questions What is a Tender Offer? A tender offer is a liquidity event in which a company, investor, or group of investors propose to buy a fixed number of shares from existing shareholders at a set price.

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Startup Taxes Risk Tolerance Sales 52

Cordant Wealth Partners

DECEMBER 2, 2022

Typically, Intel offers as part of a layoff package a certain number of weeks of pay plus payout of earned benefits and bonus. Severance pay: Severance at Intel is typically structured as a fixed number of weeks + weeks based on the length of service. Tax planning for a transition out of Intel is critical.

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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. Again, there can be variations on every offer, so always read the fine print, which is more likely to be found in your grant agreement and notice than in the stock plan itself.

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Harness Wealth

JUNE 23, 2023

Will and Trusts A will is a legally-binding document that outlines your wishes regarding the distribution of your assets after your passing, allowing you to designate an executor to administer your estate and a guardian for any minor children. million for the 2023 tax year.

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Harness Wealth

MARCH 9, 2023

In the course of its IPO planning in 2021, Reddit reported having roughly 344,000 Premium users, equating to around $24 million per year in non-advertising revenue. Exercising options means that you are buying shares at your strike price, a number set at the time the options were granted. Tax services provided through Harness Tax LLC.

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Planning Taxes Advertising Commission 52

Harness Wealth

SEPTEMBER 18, 2023

Start by taking the salary you last had before leaving to start your own firm, and calculate the number of billable hours it would require for you to meet that number. Modern Software Access: Harness Tax provides you with access to industry-leading software to ensure you have everything you need for tax planning and compliance needs.

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Taxes Accounting Clients Management 59

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. These could have been physically mailed to you or are potentially filed away in your email via a digital format.

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Retirement Retirement Planning Financial Advisor Accounting 59

Clever Girl Finance

MARCH 19, 2024

You should also go over the numbers. Plan for taxes Yup, taxes! Taxes are annoying, but they’re certainly not going away anytime soon. So, make sure your long-term income projections include taxes. Avoiding tax planning can impact your cash flow in a major way.

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Financial Planning Planning Budgeting Retirement 91

Gen Y Planning

DECEMBER 5, 2022

Let’s take a look at 2022 numbers. . Those of you who have access to a Mega Backdoor Roth can get to this $61,000 number so talk to your employer to see if this is an option for you). These numbers don’t include catch-up contributions (an extra $6,500 for those over 50). . Any funds over that number are simply lost.

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Taxes Estate Planning Planning Budgeting 59

Harness Wealth

MARCH 31, 2023

Reporting NFTs on your tax return To report NFT transactions on your tax return to the IRS, you’ll need to work with your accountant or Harness Tax Advisor on completing a number of different forms, some of which we’ve listed below: Form 8949: Use this form to report your NFT transactions.

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Carson Wealth

MAY 4, 2023

To illustrate, let’s assume Liam and Dana have taxable income of $200,000 and traditionally pay around $20,000 in federal income taxes, all of which is withheld in payroll. As previous years have been relatively predictable, Liam and Dana are not concerned with tax planning.

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Taxes Sales Planning Tax Planning 52

Harness Wealth

MARCH 3, 2023

In the case of Stripe’s double-trigger RSUs, the dollar amount vested is recorded as ordinary income in the tax year, and the taxable amount is calculated as the difference between the fair market value (aka, valuation) and the awarded price. It’s a number that must be determined by a third-party firm.

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Taxes Valuation Startup Sales 52

Zajac Group

FEBRUARY 7, 2023

Many brokerages offer plan forms or sample documents to help you start crafting your 10b5-1 plan. To serve as a binding contract, the plan must be in writing and include: The number of shares to be bought or sold.

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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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Inside Information

SEPTEMBER 26, 2022

You can see the trend, and you can see where the momentum is taking us: more and more and more tech solutions in an increasingly crowded space, simultaneous with purchases and consolidation by a growing number of private-equity funded platforms. But where will that lead the profession?

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Harness Wealth

JUNE 1, 2023

Financial Planning: This involves creating a comprehensive financial plan, considering all aspects of your financial situation. This plan may cover estate and retirement planning, college savings, debt management, and more. It is provided for information purposes only.

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Wealth Management Financial Advisor Management Risk Tolerance 52

Harness Wealth

APRIL 28, 2023

It’s important to make your quarterly tax payments on time to avoid penalties and interest charges. It’s also a good idea to keep track of your payments and save any receipts or confirmation numbers as proof of payment and inform your Harness Tax Advisor or other tax professional.

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Taxes Distribution Startup Assets 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. SARA GRILLO: Other than five and a half, six. Excuse exactly.

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Harness Wealth

MARCH 25, 2025

To minimize your tax liability, its important to document every business expense, such as: Travel : airfare, lodging, rental cars Professional fees : licensing, malpractice insurance Education : continuing medical education or certifications Note: Record all expenses associated with your work as an independent contractor.

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Medical Taxes Tax Planning Education 52