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. How will the 2026 tax brackets be affected if the TCJA expires? How will the 2026 tax brackets be affected if the TCJA expires?

Taxes 52

Taxes Clients Insurance Distribution 52

Harness Wealth

JANUARY 29, 2025

Deferring income to a future year will allow you to reduce your current tax burden and keep more of your money working for you. Effective ways to achieve this include: For employees : If your employer offers this option, request that your year-end bonus be deferred to January 2026.

Taxes 52

Taxes Medical Distribution Accounting 52

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. It can also preclude some tax planning strategies down the road.

Taxes 104

Taxes Tax Planning Startup Valuation 104

Darrow Wealth Management

MARCH 29, 2024

There are two AMT tax rates: 26% and 28%. AMT exemptions and phase out were increased significantly in the 2017 Tax Cuts and Jobs Act. These higher limits are scheduled to sunset in 2026. Tax and financial planning with stock options Not every individual with incentive stock options will have tax planning options to consider.

Taxes 105

Taxes Tax Planning Planning Wealth Management 105

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. How will the 2026 tax brackets be affected if the TCJA expires? How will the 2026 tax brackets be affected if the TCJA expires?

Taxes 52

Taxes Clients Insurance Distribution 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 Financial Advisor 59

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 Financial Advisor 52

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. It can also preclude some tax planning strategies down the road.

Taxes 52

Taxes Tax Planning Startup Valuation 52

Darrow Wealth Management

DECEMBER 23, 2022

would keep the age 50 catch-ups and allow new ones: 401(k) & 403(b) plans: starting in 2025, the catch-up contribution will become the greater of $10,000 or 150% of the catch-up limit for individuals between age 60 – 63. Starting in 2026, the catch-up will be indexed by inflation. The Secure Act 2.0

Retirement 105

Retirement Retirement Planning Distribution Planning 105

Harness Wealth

MARCH 10, 2023

If the manager chooses to use the Three-Year Carried Interest Loophole, they would not be required to pay taxes on that $200,000 until 2026. However, if the investment is sold before the three-year mark, the standard tax rate would apply, and the manager would need to pay tax on their carried interest.

Taxes 52

Taxes Tax Planning Startup Portfolio 52

Darrow Wealth Management

MARCH 29, 2024

There are two AMT tax rates: 26% and 28%. AMT exemptions and phase out were increased significantly in the 2017 Tax Cuts and Jobs Act. These higher limits are scheduled to sunset in 2026. Tax and financial planning with stock options Not every individual with incentive stock options will have tax planning options to consider.

Taxes 52

Taxes Tax Planning Planning Wealth Management 52

James Hendries

DECEMBER 11, 2022

Tax Planning – Have necessary steps been taken toward filing required business and individual tax returns, so they get filed on time? The type of business will determine the tax consequence. This act is set to expire January 1, 2026. Here are five tips that may assist with organizing a strategy.

Planning 52

Planning Taxes Insurance Accounting 52

Steve Sanduski

SEPTEMBER 17, 2024

And so right now, like a lot of advisors, we’re dealing with the fact that the unified credit is scheduled to go down in 2026. So it’s a lot of really intricate estate planning. But what I found was that my passion is spending time with the clients and the problem solving that comes with complex estate and tax planning.”

Financial Planning 52

Financial Planning Clients Taxes Planning 52

Cordant Wealth Partners

AUGUST 16, 2024

Other pay : Certain employees can be eligible for “pay in lieu of redeployment” (9 weeks) and an “additional separation bonus” (8 weeks) It’s important to note that severance payouts are taxed as ordinary income in the year of payout. Tax planning for a transition out of Intel is critical.

Planning 52

Planning Retirement Taxes Accounting 52

WiserAdvisor

JANUARY 23, 2024

If your financial advisor is not keeping a close eye on your taxes, they might be missing out on various opportunities that could impact your financial well-being. An effective financial advisor should be proactive in reviewing your tax plan before the year-end. Annual Roth conversions can be one measure to tackle the changes.

Financial Advisor 40

Financial Advisor Risk Tolerance Communication Taxes 40

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.

Tax Planning 78

Tax Planning Taxes Planning Distribution 78

Darrow Wealth Management

JANUARY 30, 2023

Here are some tax planning strategies to consider when you should start drawing from your IRA. Tax planning strategies for required minimum distributions Tax planning shouldn’t stop when you retire. Retirees in a low tax bracket for the year have several planning options to consider.

Distribution 105

Distribution Tax Planning Retirement Taxes 105

Harness Wealth

JULY 29, 2024

If the sunset occurs, this inflation-adjusted amount, which is currently $13,610,000 as of July 2024 , could be reduced by one-half (after inflation adjustments for 2025 and 2026) starting on January 1, 2026. Keeping ahead of these changes, while managing client expectations, can seem like a tall order.

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. For reference, the federal estate tax exemption limit is set to revert back to $5 million (or around $7 million when adjusted for inflation).

Planning 52

Planning Estate Planning Taxes Assets 52

Nerd's Eye View

APRIL 30, 2025

Although it doesn't contain specific provisions for what will be included in the new bill, it provides a general framework for the bill's overall 'cost' to the Federal deficit, offering planners some idea of the bill's potential scope and providing at least some certainty for clients planning their taxes for 2026 and beyond.

Budgeting 150

Budgeting Taxes Tax Planning Clients 150

Sara Grillo

SEPTEMBER 11, 2023

Tax questions we should ponder more deeply Advisors are working on a way that is outdated when it comes to IRMAA planning. An example is how tax planning is handled. The financial industry is geared towards helping people save as much in taxes today as humanly possible. But are taxes going up or down in the future?

Planning 111

Planning Financial Advisor Taxes Retirement 111

Harness Wealth

JANUARY 28, 2025

In the realm of estate planning, the Lifetime Gift and Estate Tax Exemption is set for a substantial decrease in 2026, reverting to approximately $7 millionunless Congress intervenes. These adjustments apply to income tax returns for the 2025 tax year, filed during tax season in 2026, as outlined by the IRS.

Taxes 52

Taxes Planning Retirement Estate Planning 52

Harness Wealth

APRIL 18, 2025

We also cover concerning data showing financial illiteracy cost Americans over $243 billion in 2024, and news that President Trump has signed legislation blocking an IRS cryptocurrency reporting rule previously scheduled to take effect in 2026. Did you miss last weeks edition? You can find it here.

Taxes 52

Taxes Math Tax Planning Assets 52

Nerd's Eye View

NOVEMBER 13, 2024

Furthermore, the Trump campaign has proposed a number of additional tax cuts, including tax-free treatment of income from tips, overtime pay, and Social Security benefits, and even eliminating income tax entirely in favor of tariffs. Read More.

Tax Planning 246

Tax Planning Taxes Planning Assets 246