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

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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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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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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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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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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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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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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Nerd's Eye View

OCTOBER 23, 2024

Though in practice, while a 1% AUM fee is a common 'starting point' in the industry, the actual fee structure can vary based on the firm's approach; for example, some firms may reduce the fee for high-net-worth clients, or charge an additional fee for separate and additional services (from deeper financial planning to add-ons like tax preparation).

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Brown Advisory

NOVEMBER 1, 2023

This Present is Accounted For: An Overview of Low-Basis Gifting Strategies achen Wed, 11/01/2023 - 11:20 After spending a career helping clients with tax and estate advice, I often see reminders and lessons about my job in the unlikeliest places. That was not the most interesting angle of the story for many readers.

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Financial Symmetry

JULY 3, 2023

When income is earned, generally some amount of tax will be due. Most taxpayers will also be presented with another form of income at least … Continued The post Will I Owe Tax on the Sale of My Home? Income can come in the form of wages, rental income, interest, dividends, and many others.

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Carson Wealth

FEBRUARY 23, 2024

Tax season is upon us, but you can start 2024 off on the right foot with tax planning tips and strategies presented by Mike Valenti, Director, Tax Planning and Tom Fridrich , Carson Group Manager & Sr.

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Fortune Financial

JULY 28, 2022

When you are presented with the option to distribute your assets, you will have the choice to roll them into an IRA or place the stock into a taxable account and then roll the remaining assets into an IRA or 401(k). However, the tax deferral benefit comes at a cost tradeoff. Watch to Learn More About General Rules Surrounding NUA.

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Abnormal Returns

MAY 31, 2023

open.spotify.com) Taxes What Is a 83(b) election? thomaskopelman.com) Who is eligible for the retirement savings tax credit? tonyisola.com) "Personal Finance Mistakes You're Probably Making" a presentation by Prof. podcasts.apple.com) Morgan Housel on the 'art of spending money.' moneytalks101.substack.com) linkedin.com)

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Ballast Advisors

NOVEMBER 27, 2023

Here are some things to consider as you weigh potential tax moves between now and the end of the year. Defer income to next year Consider opportunities to defer income to 2024, particularly if you think you may be in a lower tax bracket then. Doing so may enable you to postpone payment of tax on the income until next year.

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WiserAdvisor

OCTOBER 11, 2022

While these can be avoided, there is another cash outflow that can considerably lower your savings and returns and is also hard to avoid – tax. Tax planning is essential. Tax is charged on every penny you earn. Tax evasion is a crime, and missing tax payments can lead to legal hassles that can be hard to get out of.

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Harness Wealth

JUNE 5, 2024

“Until I found Harness, starting my own tax practice wasn’t an option that I was seriously considering.” Due to Mr. Maddox’s relationship with Harness as a tax adviser on the platform, material conflicts of interest may arise. Maddox’s relationship with Harness as a tax adviser on the platform, material conflicts of interest may arise.

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Harness Wealth

OCTOBER 5, 2023

From quarterly estimated tax planning to equity compensation and crypto tax planning, diversifying your service offerings can not only set you apart from the competition, it can also help you significantly grow your revenue and retain clients.

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Abnormal Returns

APRIL 19, 2023

(open.spotify.com) Direct indexing Ten years of live numbers on a tax-loss harvesting program. peterlazaroff.com) Just in time for tax day, a custom indexing linkfest! axios.com) Peter Lazaroff on what direct indexing is and how it works.

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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. Filing status and dependents.

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Harness Wealth

MARCH 5, 2024

At Harness, our mission has always been to bring clarity to the tax advisory process, making it more accessible and impactful for everyone involved. Leveraging this new funding, we’re reinventing the tax advisor-client experience from the ground up. Today, we’re proud to enter a new era. Read the full announcement in TechCrunch.

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Ballast Advisors

SEPTEMBER 22, 2023

The IRS has announced guidance for the home energy audit tax credit. Fortunately, there is a federal income tax credit available equal to 30% of the amount paid for home energy audits, up to $150 per tax year. If you claim the credit, the home energy audit should be kept as part of your tax records.

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Nerd's Eye View

JANUARY 8, 2024

represent our past and present industry's reactive focus on coming up with solutions to address client problems, Financial Advice 3.0 Peter Attia, author of the book Outlive: The Science & Art of Longevity , describes the trajectory of medicine in 3 stages: Medicine 1.0 Specifically, Financial Advice 3.0

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Ballast Advisors

MARCH 17, 2023

The concept of your domicile is very different from that of your residency Domicile is an important concept in determining one’s residency status for tax purposes. Taxes Matter For tax purposes, an individual’s domicile is often considered to be their state of residency for tax purposes. Residing in Florida?

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Zoe Financial

MAY 16, 2023

Qualified withdrawals from a 529 plan are tax-free at the federal level, and some states also offer tax breaks to their residents. It’s important to evaluate the federal and state tax consequences of plan withdrawals and contributions before you invest in a 529 plan. The federal income tax treatment of these plans is identical.

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Zoe Financial

NOVEMBER 11, 2024

Nothing in these materials is intended to serve as personalized tax and/or investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Facts presented have been obtained from sources believed to be reliable. Ready to Grow Your Wealth?

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Indigo Marketing Agency

FEBRUARY 2, 2023

For instance, the Heath Walters Institute offers on-demand tax planning and support for financial advisors who want to better serve their high-net-worth clientele. The post Marketing Your Specialty As an Advisor: 3 Takeaways From Our Presentation at Heath Walters’ 2023 Innovation Summit appeared first on Indigo Marketing Agency.

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Nerd's Eye View

DECEMBER 23, 2022

A review of financial planning actions, from tax-loss harvesting to charitable giving, that have a December 31 deadline. How the holiday season presents an opportunity to have important money-related conversations with family members. How ‘regifting’ can help save money and reduce waste. Read More.

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Ballast Advisors

NOVEMBER 29, 2022

How you treat those losses come tax time can mean a lot in the long run of your financial plan. Good portfolio management focuses on after tax rate of returns,” says Ballast Advisors Managing partner Paul Parnell. Tax harvesting is a method of investing that involves buying and selling assets in order to reduce capital gains taxes.

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WiserAdvisor

APRIL 12, 2023

The Roth Individual Retirement Account (IRA) and the pre-tax retirement account are two common options. Both these accounts can offer tax benefits and the chance to accumulate sufficient savings for your retirement. A Roth IRA is a tax-advantaged retirement savings account funded with your after-tax dollars.

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Fortune Financial

JULY 5, 2022

One major thing to consider when doing so is the tax bill that may come along with it. The good news is you may be able to take advantage of a little-known tax break called net unrealized appreciation (NUA) — if you qualify. . What Is NUA? You originally paid $10 per share but they are now valued at $50 per share. Reaching age 59 -1/2.

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Ballast Advisors

MARCH 17, 2023

Reducing your tax liability can literally save you thousands of dollars Tax season can be a stressful time for many people, especially if you’re not fully prepared. However, with some advance planning and preparation, you can take steps to reduce your tax bill for the upcoming year.

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The Big Picture

JULY 29, 2022

Compared to futuristic and spacey models like 2023 Genesis GV60 and the Kia EV6 , Audi’s crossovers present as very familiar vehicles that just happen to have an electric powertrain. These are all before federal and state tax credits. Unlike their EV competitors, Audi is simply electrifying their current line of ICE SUVs.

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Zoe Financial

NOVEMBER 18, 2024

Nothing in these materials is intended to serve as personalized tax and/or investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Facts presented have been obtained from sources believed to be reliable. Ready to Grow Your Wealth?

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Carson Wealth

OCTOBER 7, 2024

Opinions expressed by the presenter may not be representative of Cetera Advisor Networks, LLC, or CWM, LLC. For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera Advisor Networks LLC nor any of its representatives may give legal or tax advice.

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Nerd's Eye View

MARCH 25, 2024

This can be curated by assessing present team needs (which means the theme will likely change from retreat to retreat). As a starting point, to get the most out of a team retreat, it's important to focus on 1 key theme driving the feeling that team members should leave with at the end of the retreat.

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