Nerd's Eye View

DECEMBER 25, 2023

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Financial Advisor 246

Financial Advisor Insurance Financial Planner Clients 246

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. NOTE: Applicable entities created in 2024 have 90 days from creation to file the report.

License 129

License Tax Planning CFP Taxes 129

Darrow Wealth Management

MARCH 29, 2024

The AMT is a parallel tax calculation which disallows certain tax deductions and non-taxable items under the regular system. Taxpayers pay whichever number is higher: their tax due under AMT or the regular system. Under the regular tax system, when you exercise ISOs, it’s not a taxable event.

Taxes 105

Taxes Tax Planning Planning Wealth Management 105

Harness Wealth

APRIL 17, 2025

This choice can significantly impact your tax savings, so you will need to select the approach that provides the greater benefit. Popular tax credits that can significantly reduce your tax bill The Earned Income Tax Credit is one of the most substantial tax benefits for low- to moderate-income workers.

Taxes 52

Taxes Tax Planning Education Medical 52

Darrow Wealth Management

JULY 1, 2024

Although a number of these provisions will negatively impact taxpayers starting in 2026, there a few changes that will be positive. Here’s a summary of the major tax law changes coming in 2026 and some steps individuals and business owners can take to prepare. This tax benefit is scheduled to sunset at the end of 2026.

Taxes 105

Taxes Tax Planning Planning Estate Planning 105

Harness Wealth

MARCH 5, 2024

Working with the right tax advisor can prove to be a valuable relationship, but understanding the costs associated with tax services can be complex. In this guide, we’ll explore the average fees of tax advisors in the US for 2024. Hourly Fee (Tax Attorney) Fee charged per hour of advice from a tax attorney.

Taxes 52

Taxes Tax Planning Ethics Education 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. By the end of the year, you already know most of the tax inputs so your CPA and financial advisor can help in developing a tax projection.

Taxes 59

Taxes Tax Planning Planning Sales 59

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.)

Taxes 97

Taxes Consulting Accounting Planning 97

Harness Wealth

MAY 2, 2025

Unless Congress intervenes, the TCJAs sunset will usher in a swathe of tax increases in 2026, with analysts estimating that over $4 trillion worth of tax hikes could take effect. tax-paying arena. A number of TCJA provisions are set to revert to pre-TCJA levels or disappear entirely, impacting both individuals and businesses.

Taxes 52

Taxes Clients Insurance Distribution 52

Harness Wealth

FEBRUARY 19, 2025

EIN/Tax ID: Enter the company’s EIN or other applicable tax identification number. Enter company applicant information (if applicable) Only reporting companies created or registered in 2024 or later need to fill in this section. If your company was formed before 2024, you can skip this section.

Taxes 52

Taxes Financial Advisor Consulting Certification 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. By the end of the year, you already know most of the tax inputs so your CPA and financial advisor can help in developing a tax projection.

Taxes 52

Taxes Tax Planning Planning Sales 52

Integrity Financial Planning

NOVEMBER 14, 2023

Because taxes are calculated from January 1st to December 31st of each year, and certain retirement rules and laws reset at the same time, you may have some significant last-minute moves you can make with your money before the tax year is over. Gift Tax Exemptions Each year, you can give up to $17,000 to any number of people tax-free.

Taxes 96

Taxes Retirement Estate Planning Planning 96

Darrow Wealth Management

MARCH 29, 2024

The AMT is a parallel tax calculation which disallows certain tax deductions and non-taxable items under the regular system. Taxpayers pay whichever number is higher: their tax due under AMT or the regular system. Under the regular tax system, when you exercise ISOs, it’s not a taxable event.

Taxes 52

Taxes Tax Planning Planning Wealth Management 52

Harness Wealth

FEBRUARY 5, 2025

The Internal Revenue Service (IRS) adjusts FEIE exclusion amounts annually based on inflation, with the exclusion amounts for the past 5 years being as follows: Tax Year FEIE Amount 2025 $130,000 2024 $126,500 2023 $120,000 2022 $112,000 That said, the FEIE only applies to foreign earned income, with foreign passive income ineligible for exclusion.

Taxes 52

Taxes Compliance Accounting Government 52

Harness Wealth

OCTOBER 8, 2024

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. Be specific to attract your ideal tax client: When it comes to what sets your firm apart, be very clear.

Taxes 52

Taxes Clients Tax Planning Healthcare 52

Darrow Wealth Management

JULY 1, 2024

Although a number of these provisions will negatively impact taxpayers starting in 2026, there a few changes that will be positive. Here’s a summary of the major tax law changes coming in 2026 and some steps individuals and business owners can take to prepare. This tax benefit is scheduled to sunset at the end of 2026.

Taxes 52

Taxes Tax Planning Planning Estate Planning 52

Nerd's Eye View

DECEMBER 30, 2024

Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financial advisors including topics covering technical planning, practice management, advisor marketing, career development, and more.

Financial Advisor 240

Financial Advisor Insurance Tax Planning Taxes 240

Harness Wealth

MAY 2, 2025

Unless Congress intervenes, the TCJAs sunset will usher in a swathe of tax increases in 2026, with analysts estimating that over $4 trillion worth of tax hikes could take effect. tax-paying arena. A number of TCJA provisions are set to revert to pre-TCJA levels or disappear entirely, impacting both individuals and businesses.

Taxes 52

Taxes Clients Insurance Distribution 52

Harness Wealth

MARCH 9, 2023

In 2021, in its first attempt and an IPO, Reddit reported advertising revenues as high as $100 million per quarter, with forecasts of reaching $1 billion per quarter by 2024. 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.

Planning 52

Planning Taxes Advertising Commission 52

FMG

FEBRUARY 22, 2023

For example, FMG and Holistiplan held a webinar about how tax offering tax planning is a big growth opportunity for financial advisors. If that doesn’t convince you enough, research shows that by 2024, the estimated number of listeners will hit 100 million.

Marketing 52

Marketing Marketing Financial Advisor Media 52

Harness Wealth

MARCH 3, 2023

In the case of Stripe, many of these RSUs are set to expire in 2024. If a Stripe IPO were to happen before then, employees would sell their shares and use some of the proceeds to cover their own personal taxes. It’s a number that must be determined by a third-party firm. What is a tender offer anyway?

Taxes 52

Taxes Valuation Startup Sales 52

Darrow Wealth Management

NOVEMBER 14, 2024

And there is some good news: if you do pay AMT, in future years when you’re not subject to it and have regular capital gains, an AMT tax credit may be available. But to recoup any prepaid tax, taxpayers must track two different sets of cost basis. exercise price) multiplied by the number of shares sold.

Taxes 56

Taxes Sales Wealth Management Planning 56

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.

Startup 52

Startup Taxes Risk Tolerance Sales 52

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.

Financial Planning 52

Financial Planning Planning Financial Planner Wealth Management 52

Nerd's Eye View

DECEMBER 28, 2022

includes a significant number of Roth-related changes (both involving Roth IRAs as well as Roth accounts in employer retirement plans), though notably, the legislation does not include any provisions that restrict or eliminate existing Roth strategies (e.g., In addition, SECURE 2.0 backdoor Roth conversions).

Tax Planning 246

Tax Planning Planning Taxes Retirement Planning 246

Nerd's Eye View

DECEMBER 28, 2022

includes a significant number of Roth-related changes (both involving Roth IRAs as well as Roth accounts in employer retirement plans), though notably, the legislation does not include any provisions that restrict or eliminate existing Roth strategies (e.g., In addition, SECURE 2.0 backdoor Roth conversions).

Tax Planning 246

Tax Planning Planning Taxes Retirement Planning 246

Harness Wealth

APRIL 28, 2023

Because of the complexities of the tax code, make sure you work with a Harness Tax Advisor or other tax professional before making any payments. To pay your quarterly taxes, use the IRS’s Direct Pay portal, or mail in your payment along with your completed Form 1040-ES.

Taxes 52

Taxes Distribution Startup Assets 52

Nerd's Eye View

MARCH 15, 2024

Also in industry news this week: CFP Board this week announced changes to its Sanctions Guidelines and revisions to its Fitness Standards that clarify the factors that determine how potential sanctions are determined and revise the framework use to determine whether a candidate is eligible to become a CFP certificant The Financial Services Institute (..)

Financial Planner 246

Financial Planner CFP Taxes Tax Planning 246

Discipline Funds

DECEMBER 29, 2024

Calculate your 2024 after tax income and expected after tax 2025 income. Compare this to your 2024 expenses and expected 2025 expenses. Are you saving or contributing 10-20% of your income to a dedicated savings plan? 2024 was a great year for risk assets. You can gift up to $18K in 2024 ($36k per couple).

Financial Planning 64

Financial Planning Planning Asset Allocation Retirement Planning 64

Nerd's Eye View

MARCH 15, 2024

Also in industry news this week: CFP Board this week announced changes to its Sanctions Guidelines and revisions to its Fitness Standards that clarify the factors that determine how potential sanctions are determined and revise the framework use to determine whether a candidate is eligible to become a CFP certificant The Financial Services Institute (..)

Financial Planner 130

Financial Planner CFP Taxes Tax Planning 130

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. contained a number of changes relevant to estate planning. citizens and residents. The SECURE Act 1.0

Estate Planning 59

Estate Planning Taxes Planning Tax Planning 59

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. Let’s take a look at the tax impact and other considerations of each. million before triggering federal estate taxes). Inheritance Tax?

Planning 52

Planning Estate Planning Taxes Assets 52

Discipline Funds

DECEMBER 20, 2023

Calculate your 2023 after tax income and expected after tax 2024 income. Compare this to your 2023 expenses and expected 2024 expenses. Are you saving or contributing 10-20% of your income to a dedicated savings plan? Do so before year-end and plan for next year’s RMD now. Avoid chasing performance.

Financial Planning 75

Financial Planning Planning Asset Allocation Retirement Planning 75

Carson Wealth

FEBRUARY 29, 2024

Does that mean you need to worry about reporting every item given or received on your tax return? There are essentially three exemption amounts that you’ll need to remember: 2024 annual gift tax exclusion: $18,000 2024 lifetime gift tax exemption: $13.61 million 2024 estate tax exemption: $13.61

Financial Planning 96

Financial Planning Taxes Planning Estate Planning 96

Nerd's Eye View

NOVEMBER 13, 2024

Which means that the question going forward is not so much whether TCJA will be extended, but rather which portions will remain in their current form and which may have some 'wiggle room' for change in the next tax bill. What's certain heading into 2025, however, is that there will be a new tax bill to extend and/or replace TCJA.

Tax Planning 246

Tax Planning Taxes Planning Assets 246

Indigo Marketing Agency

JANUARY 25, 2025

Whether its tax planning, practice management, or technology trends, Michael remains a go-to resource for cutting-edge knowledge. Samantha was also a finalist in the 2024 Wealthies. ( His Risk Number system revolutionizes how advisors assess and manage risk, making him a key thought leader in advisor technology.

Financial Advisor 52

Financial Advisor Education CFP Clients 52

Harness Wealth

JANUARY 28, 2025

Tax strategies for high-net-worth individuals in 2025 Stay tax-efficient with Harness What are the key tax changes in 2025? Below are the standard deductions and marginal tax rates for 2024 and 2025. in 2024 and are projected to increase by 3.9% That said, U.S. salaries rose an average of 3.8%

Taxes 52

Taxes Planning Retirement Accounting 52