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Pass-Through Entity Taxes: Mechanics, Considerations, And Planning Opportunities For Navigating SALT Cap Workarounds

Nerd's Eye View

The 2017 Tax Cuts & Jobs Act introduced a $10,000 limit on the State And Local Tax (SALT) deduction that was previously available for taxpayers who itemized their deductions. Another set of considerations involves owners of businesses that operate in multiple states, which can compound the complexity of electing a PTET.

Taxes 214
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How Estate and Gift Taxes Can Impact Your Financial Plan

Carson Wealth

But when does gifting become a tax issue? Let’s take a closer look at estate and gift taxes and how you can approach them with a financial planning mindset. Taxes on Giving??? Why do you have to pay taxes on money you’re giving away? This continued until the federal government wised up and imposed a federal gift tax.

Taxes 96
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Personal finance links: the myths of aging

Abnormal Returns

Real estate A house is a place to live, not an investment. wealthfoundme.com) More families are at risk from estate taxes looking out into 2025 and beyond. humbledollar.com) Why QCDs can be so valuable, tax-wise. humbledollar.com) Personal finance Seven financial superpowers that have nothing to do with investing.

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9 Year-End Planning Tips from a Wealth Planner

Carson Wealth

That must mean it’s time to roll up my sleeves and get to work on year-end financial planning – with an emphasis on 2023 income tax. One consideration this year is that we’re two years from the expiration of the Tax Cuts and Jobs Act of 2017 (TJCA). AGI impacts multiple other tax considerations.

Planning 143
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7 Financial and Tax Planning Optimizations to Complete Before 2023

Harness Wealth

Not only was the stock market fairly volatile, but there were also atypical tax regulation changes. Tax-loss harvesting. Paying taxes on investment gains can be a financial burden, but tax loss harvesting can reduce your bill. You can claim as much capital loss as your realized capital gain plus $3,000.

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: Toyota to make large electric SUV in Kentucky

MarketWatch

JP:7203 said Wednesday it will start producing an all-new electric SUV at its Kentucky plant in 2025. Toyota said it will invest an additional $2.1 Toyota said it will invest an additional $2.1 The three-row SUV would be the company’s first U.S.-assembled billion in the North Carolina plant, bringing the total to $5.9

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3 Tips for Getting Your Finances on Track

Integrity Financial Planning

2 Factor in Taxes. While some people think their tax bill will decrease substantially in retirement, this isn’t necessarily the case. Many of your sources of income in retirement could be taxable, including Social Security benefits, pension payments, and investment income.