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Weekend Reading For Financial Planners (July 5–6)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that Congress has passed highly anticipated tax legislation, making 'permanent' (i.e.,

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Weekend Reading For Financial Planners (May 17–18)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that Republicans in the House of Representatives this week released their long-awaited tax plan to address the impending sunset of many measures in the 2017 Tax Cuts and Jobs Act.

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Donor-Advised Funds: Optimize Your Charitable Giving and Save On Taxes

Cordant Wealth Partners

We also get you up to speed on the tax benefits of using a DAF. If you've heard of a DAF and are curious about incorporating it into your giving and tax planning strategy, this article is for you. Key Takeaways: Contributions to a donor-advised fund reduce your tax bill in the year your contribution is made.

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Tax Deductions vs. Tax Credits: What’s the Difference?

Harness Wealth

For instance, mortgage interest deductibility is capped at loans of $750,000 (or $1 million for homes purchased before December 15, 2017), which could significantly impact your total itemized deductions. This deduction often yields substantial tax savings for individuals who itemize their deductions.

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What is an 83(i) Election and How Do You You File One?

Harness Wealth

An 83(i) election is an IRC provision that allows certain employees of private companies who receive RSUs or NSOs to defer federal income tax on the exercise or settlement of their stock for up to 5 years. Before 2017, employees who received RSU or NSO equity compensation faced a dilemma. Broad-based equity plan: At least 80% of U.S.-based

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Understanding the Tax Implications of Acquisitions

Harness Wealth

Tax planning serves as the cornerstone of the entire acquisition deal, extending far beyond a simple checkbox. Every element, from structure to price negotiations, hinges on understanding tax implications for all parties involved. Get it right, and you will have set yourself up for a smooth transition and maximized returns.

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Reversing a Roth IRA Conversion

Harness Wealth

Moving funds from traditional IRAs to Roth accounts triggers immediate taxation but promises tax-free withdrawals in retirement. The stakes became higher after the Tax Cuts and Jobs Act of 2017 eliminated recharacterizationthe ability to reverse conversions that did not work as planned.

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