Harness Wealth

JANUARY 29, 2025

April 15 marks the IRS tax return filing deadline for 2025. Although this is the traditional tax filing deadline, given the spate of recent natural disasters (such as the California wildfires and Hurricane Milton), the IRS is granting certain filing and payment extensions beyond this date.

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Taxes Medical Distribution Tax Planning 52

Carson Wealth

FEBRUARY 6, 2025

Every year brings changes in tax rules, and 2025 is no exception. Whether you are saving for retirement, running a business, or planning for your family’s future, these updates could affect your financial decisions throughout the year. For married couples, this means more of your income will be taxed at lower rates.

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Taxes Retirement Tax Planning Planning 59

Nerd's Eye View

JULY 7, 2023

Also in industry news this week: A recent survey indicates that a strong majority of financial advisory clients have maintained their trust in their advisors despite the investment market setbacks experienced last year A report from the SEC shows that a majority RIAs have mandatory arbitration clauses in their client agreements, a practice that has (..)

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Nerd's Eye View

MAY 31, 2024

House of Representatives and is now being considered in the Senate would increase the number of firms classified as “small entities” and would require the SEC to assess the impact of proposed regulation on this newly enlarged class of investment advisers (which tend to have fewer compliance staff and resources available compared to larger (..)

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Harness Wealth

JANUARY 10, 2025

Tax advice is a common topic on social media platforms like TikTok. Influencers promise easy ways to secure tax deductions, simplifying complex ideas into bite-sized claims that gloss over important details in the process. Can Hiring Your Children Help You Save on Taxes? Can You Claim Your Pet as a Tax Write-Off?

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Taxes Assets Media Education 52

Nationwide Financial

MARCH 6, 2023

Even if a client believes they would not be subject to estate or gift tax under current law, you may want to re-examine the value of their assets to determine whether they exceed a lower exemption amount. Tax season has begun, and it’s not too early to think about planning for the 2023 tax year.

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Darrow Wealth Management

NOVEMBER 17, 2022

In November 2022, proponents of the Massachusetts ‘millionaires’ tax (question 1) won their bid to nearly double the income tax rate on individuals with taxable income over $1M a year. As proposed, the new legislation would increase these tax rates to 9% and perhaps even 16% , respectively, starting in 2023.

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Nerd's Eye View

SEPTEMBER 30, 2024

When it comes to focusing on a niche for financial advisors, business owner clients can be an appealing target as they can have complex financial planning problems ranging from cash flow management to tax planning to acquisition strategies. Ultimately, the key point is that for advisors who work with (or would like to work with!)

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Harness Wealth

FEBRUARY 4, 2025

However, unlike stocks and bonds, alternative investments, or alts as theyre commonly known, have unique tax treatments and complex reporting requirements that investors should carefully consider before investing. Well also go into some potential strategies to optimize tax efficiency. How Are Alternative Investments Taxed?

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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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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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Nerd's Eye View

OCTOBER 2, 2023

From there, the latest highlights also feature a number of other interesting advisor technology announcements, including: Holistiplan, after achieving success with its tax planning and analysis software, has announced an investment from Lead Edge Capital, signaling that it may be ready to expand into other financial planning areas beyond tax – (..)

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Nerd's Eye View

OCTOBER 7, 2024

This month's edition kicks off with the news that digital estate planning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which on the one hand reflects the anticipated enthusiasm for solutions that can help advisors efficiently (..)

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Walkner Condon Financial Advisors

MAY 31, 2024

Breathe Easier Next Tax Season with These Planning Strategies Every year, most of us smile when we see April 15th in the rearview mirror. The completion of our tax returns being filed marks the beginning of a nine month period where we don’t need to think about funny acronyms and form numbers.

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Taxes Financial Advisor Tax Planning Distribution 105

Harness Wealth

FEBRUARY 26, 2023

Cost-saving tax planning can be much more difficult to implement after your company is well-established and has reached the stage where an IPO, merger, or acquisition becomes a likely event. The first three options are pass-through entities, so profits and losses are distributed to the owners who are taxed on them.

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Carson Wealth

JULY 3, 2024

Get Help with Tax Planning Tax planning is a critical component of financial management. Proper tax planning can save your business money and ensure compliance with regulations. More importantly, be prepared to pay the proper taxes throughout the year.

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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

Carson Wealth

MAY 30, 2023

By Mike Valenti, CPA, CFP ® , Director, Tax Planning Corporate executives often receive the brunt of the U.S. tax system. Typically, most or all of their income is W-2 income and subject to the higher ordinary tax rates as well as FICA taxes. However, stock compensation, large bonuses, commissions, etc.,

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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. Employee matters.

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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

MARCH 29, 2023

Below are some insights from Richard Morris, Executive Vice President and Director of Tax Services, and Alex Seleznev, Senior Investment Advisor and Chief Operating Officer of MBI, LLC. And depending on your specific tax situation, you may be paying between 15% and 20% or even more in capital gain taxes.

Tax Planning 52

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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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Taxes Investments Investing Retirement 98

James Hendries

SEPTEMBER 20, 2022

Income shifting (also known as income splitting) may be defined as dividing income in a way that lowers overall taxes. When using these methods to shift income to a child, it’s always important to bear in mind the kiddie tax. Timing the receipt of your income can also help you lower your taxes.

Tax Planning 52

Tax Planning Taxes Planning Accounting 52

Darrow Wealth Management

AUGUST 28, 2023

The sale of a business marks a major life event. With many sellers relying on the sale to fund their retirement and lifelong financial goals, getting it right from the start is critical. Getting professional help is key here as trying to negotiate a sale directly with a buyer might be short-sighted.

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Sales Estate Planning Wealth Advisor Taxes 91

Carson Wealth

NOVEMBER 3, 2022

And while the holidays are traditionally a time to reflect on our blessings and help those less fortunate than ourselves, there’s another factor influencing the timing of these donations — and that’s the goal of minimizing a tax bill. Three Tax-Advantaged Donation Strategies to Consider. Create a donor-advised fund (DAF).

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Taxes Distribution Accounting Nonprofit 98

Darrow Wealth Management

MARCH 24, 2024

6 tax strategies for incentive stock options and AMT Triggering the alternative minimum tax isn’t the end of the world, but you don’t want to do it by accident. Exercise ISOs early in the year to manage or avoid AMT To get long-term capital gains tax treatment, you need to hold ISOs through the end of the year of exercise.

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Taxes Tax Planning Planning Financial Advisor 59

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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Yardley Wealth Management

MARCH 1, 2022

The post Part 3: Tax-Wise Financial Planning appeared first on Yardley Wealth Management, LLC. Part 3: Tax-Wise Financial Planning In our last two pieces, we covered some tools of the tax-planning trade, as well as how to deploy them for tax-efficient investing. Life happens. You buy a business.

Financial Planning 52

Financial Planning Taxes Planning Tax Planning 52

Yardley Wealth Management

MARCH 1, 2022

The post Part 3: Tax-Wise Financial Planning appeared first on Yardley Wealth Management, LLC. Part 3: Tax-Wise Financial Planning. In our last two pieces, we covered some tools of the tax-planning trade, as well as how to deploy them for tax-efficient investing. . Tax-Planning Possibilities.

Financial Planning 52

Financial Planning Taxes Planning Tax Planning 52

Yardley Wealth Management

FEBRUARY 15, 2022

The post Part 2: Tax-Wise Investment Techniques appeared first on Yardley Wealth Management, LLC. Part 2: Tax-Wise Investment Techniques In our last piece, we introduced some of the tools of the tax-planning trade. In other words, your tax-planning techniques matter at least as much as the tools.

Taxes 52

Taxes Investing Investments Tax Planning 52

Yardley Wealth Management

FEBRUARY 15, 2022

The post Part 2: Tax-Wise Investment Techniques appeared first on Yardley Wealth Management, LLC. Part 2: Tax-Wise Investment Techniques. In our last piece, we introduced some of the tools of the tax-planning trade. In other words, your tax-planning techniques matter at least as much as the tools.

Taxes 52

Taxes Investing Investments Tax Planning 52

Darrow Wealth Management

MARCH 24, 2024

6 tax strategies for incentive stock options and AMT Triggering the alternative minimum tax isn’t the end of the world, but you don’t want to do it by accident. Exercise ISOs early in the year to manage or avoid AMT To get long-term capital gains tax treatment, you need to hold ISOs through the end of the year of exercise.

Taxes 52

Taxes Tax Planning Planning Financial Advisor 52

Darrow Wealth Management

MARCH 29, 2024

If you have incentive stock options, you’ve probably heard of the alternative minimum tax (AMT). Essentially, the alternative minimum tax is a prepayment of taxes. The credit reduces your tax liability to reflect prepaid tax. Early sales of ISOs are taxed in the regular tax system.

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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

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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Taxes Sales Wealth Management Planning 52

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. No Step-Up in Basis for Grantor Trust Assets Grantor trusts serve as an effective tool in estate planning.

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Estate Planning Taxes Planning Tax Planning 59

Tobias Financial

OCTOBER 13, 2022

Another financial pain point that significantly impacts our budget is taxes. Whether you typically get a refund or owe a tax bill, there are several moves to consider to increase your chances of tax savings. . Watch how investors can turn stock losses into tax savings here: [link] .

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