Nerd's Eye View

OCTOBER 26, 2022

Roth conversions are, in essence, a way to pay income taxes on pre-tax retirement funds in exchange for future tax-free growth and withdrawals. Conversely, if the opposite is true and the converted funds would be taxed at a lower rate upon withdrawal in the future, then it makes more sense not to convert.

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Darrow Wealth Management

NOVEMBER 14, 2024

Tax implications of exercising and selling stock options If you have stock options as a large part of your income, taxes are especially important. How stock options are taxed depends on the type of options you have and your sale and exercise strategy. However, that doesn’t mean you won’t need to pay taxes!

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Trade Brains

DECEMBER 18, 2023

Top 5 Tax Havens In The World : Where most of us are already annoyed by the mere thought of paying income taxes, have you ever wondered how super-rich people avoid taxes legally? They park their money in tax-haven countries where it’s easy to evade taxes. What’s a Tax Haven? Top 5 Tax Havens In The World I.

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Nerd's Eye View

SEPTEMBER 7, 2022

Tax-loss harvesting – i.e., selling investments at a loss to capture a tax deduction while re-investing the proceeds to maintain market exposure – is a popular strategy for financial advisors to increase their clients’ after-tax investment returns. With these three tools (i.e.,

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Harness Wealth

SEPTEMBER 23, 2024

Key Takeaways: CRM system centralizes all client and prospect information, helping tax firms manage client interactions and replacing manual systems like spreadsheets. For example, if client contact information is updated in one system but not another, that can lead to poor client service—a CRM platform can eliminate that issue.

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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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Taxes Consulting Accounting Planning 93

Your Richest Life

FEBRUARY 27, 2023

Whether you’re preparing to file , waiting on a refund , or have already paid your tax bill, you might notice some differences this year. First of all, many taxpayers are noticing smaller refunds or higher tax bills this year than in the previous two years. See more information on the IRS website here.

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Talon Wealth

OCTOBER 28, 2024

Did you know that Trump’s tax cuts might expire in 2025? First introduced in 2017, Trump’s tax credits have impacted various tax brackets, standard deductions, and estate taxes. With the future of these tax policies uncertain, it’s vital to stay informed and prepared. appeared first on Talon Wealth.

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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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Taxes Tax Planning Marketing Marketing 52

Harness Wealth

OCTOBER 8, 2024

Key Takeaways: The Harness Marketplace allows your tax firm to be paired with high-value tax clients whose unique needs align with your expertise. The Harness Marketplace attracts employees, founders, and investors in tech, healthcare, management consulting, and other high-earning industries who need help managing complex tax needs.

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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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Taxes Clients Planning Estate Planning 52

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 79

Investing Caffeine

JULY 1, 2024

No information accessed through the Investing Caffeine (IC) website constitutes investment, financial, legal, tax or other advice nor is to be relied on in making an investment or other decision. Please read disclosure language on IC Contact page.

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Economics Marketing Marketing Food 52

Zajac Group

OCTOBER 17, 2024

For most people, tax time can be a headache—though for earners with traditional compensation packages, it can at least be fairly predictable (W-2 wages, withheld taxes, 401(k) contribution deductions, etc.). Each taxpayer receives a copy of their K-1, which they then use to complete their own 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

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.

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Harness Wealth

SEPTEMBER 23, 2024

Key Takeaways: Too many tax practices are bogged down in commoditized administrative tasks and compliance work, making it challenging to cross-sell services to expand client relationships. Take an inventory of how your practice spends time Reflect on how your own tax practice spends the bulk of its time.

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Integrity Financial Planning

FEBRUARY 3, 2023

With the new year in full swing, tax season is just around the corner. Filing federal income taxes can be a long and complicated process, and mistakes are bound to happen here and there. As many of us know, these small mistakes can cost you big in tax returns and penalties. Is the Standard Deduction Right for You?

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Integrity Financial Planning

FEBRUARY 26, 2023

Tax season is fast approaching, so you may find yourself with some important tax questions. This article will cover some of the pitfalls of this process to make sure that you get the most out of your taxes this year. It’s best to be patient and ensure that you have all the documents that you need for submitting your taxes. [1]

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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.

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Abnormal Returns

OCTOBER 13, 2024

downtownjoshbrown.com) Who died and paid the IRS a $7 billion estate tax bill? sherwood.news) Two questions you should ask about any piece of market information. (blogs.cfainstitute.org) There is a whole class of pundits out there trying to knock you off your game.

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Wealth Management

DECEMBER 19, 2022

Kenneth Griffin claims the agency violated his right to privacy.

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Harness Wealth

OCTOBER 25, 2024

Filing taxes for the first time as a new limited liability company (LLC) owner can feel overwhelming. Between understanding your tax obligations, gathering the required documentation, and making the right deductions, the process may seem daunting. As a result, the LLC does not file a separate business tax return.

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Carson Wealth

JANUARY 25, 2023

Mike Valenti, CPA, CFP ® , Director of Tax Planning Tom Fridrich, JD, CLU, ChFC ® , Senior Wealth Planner It’s January, so it’s officially tax season! One of the most common client questions heard by tax preparers is, “So, what do you need from me?” This can result in additional tax owed, plus penalties and interest.

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Harness Wealth

JULY 29, 2024

In this guest post, Harness Tax Advisory Council member, Griffin Bridgers, J.D., covers some of the top estate planning trends that tax advisors should be tracking during the second half of 2024. On the estate planning front, chief among these potential changes is the sunset of the gift and estate tax basic exclusion amount for U.S.

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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. Inheritance Tax Planning Inheritance taxes, including estate and gift taxes, are pivotal in estate planning discussions.

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Darrow Wealth Management

SEPTEMBER 19, 2024

Here’s more on what a SEP IRA is, tax benefits, contribution limits, and important deadlines. This type of account allows eligible business owners to make tax-deductible contributions to a traditional IRA for their benefit as well as eligible employees. What is a SEP IRA? New Roth SEP IRA: The Secure Act 2.0

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Integrity Financial Planning

NOVEMBER 7, 2022

Using a strategy called tax-loss harvesting, you can earn capital gains tax credits on your investment losses. What is Tax-Loss Harvesting? It’s crucial to know that tax-loss harvesting only defers your capital gains taxes; it does not eliminate them. When is the Right Time for Tax-Loss Harvesting?

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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

OCTOBER 2, 2024

This means your company automatically sells a portion of your vested shares to cover the taxes you owe. If your company completes a sell-to-cover through a “forced sale” at a brokerage, the sale of those shares will be recorded on a 1099-B form which you will report on your tax return. So, how do you report this on your taxes?

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Taxes Sales Consulting Planning 52

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.

Taxes 52

Taxes Tax Planning Startup Valuation 52

Fortune Financial

JULY 28, 2022

When you transfer most assets to a taxable account, there will be income tax, but with company stock, you can take advantage of net unrealized appreciation (NUA). . However, the tax deferral benefit comes at a cost tradeoff. Almost every dollar distributed from a pretax retirement account will be taxed at ordinary income tax rates.

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Taxes Planning Retirement Planning Distribution 98

eMoney Advisor

APRIL 11, 2023

Financial planning and tax planning go hand in hand. Including tax planning as part of your service provides clients a comprehensive view of their finances and helps them achieve their financial goals. Start with Document Sharing The first step is to ask your clients to share their tax documents with you.

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Tobias Financial

MARCH 14, 2024

At Tobias Financial Advisors, we understand the importance of staying up to date with tax regulations and deadlines. That is why we strive to keep our clients informed and prepared when it comes to their tax obligations. Lonnie and Maria are always here to guide you through the complexities of the tax world.

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Taxes Financial Advisor Clients Tax Planning 52

Tobias Financial

MARCH 14, 2024

At Tobias Financial Advisors, we understand the importance of staying up to date with tax regulations and deadlines. That is why we strive to keep our clients informed and prepared when it comes to their tax obligations. Lonnie and Maria are always here to guide you through the complexities of the tax world.

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Taxes Financial Advisor Clients Tax Planning 52

Ballast Advisors

JUNE 18, 2024

Join us as we delve into the tax strategy, legal documentation, and insurance coverage considerations needed to successfully balance the ownership of multiple residences for snowbirds. When it comes to tax considerations for snowbirds, there are several factors to keep in mind.

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Insurance Coverage Insurance Taxes Financial Planning 52

Harness Wealth

OCTOBER 16, 2024

We recently connected with Michael Paley, Chief Operating Officer of Klingman & Associates , for a Q&A on how tax advisors can collaborate with wealth managers to better serve clients. Q: How can tax advisors align with the work of wealth advisors? Unlike an endowment, taxes really matter.

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