Accounting Compensation Planning Planning Tax Planning 
Darrow Wealth Management
NOVEMBER 17, 2022
The simple examples above only illustrate the state tax impact, but federal tax implications will also apply. Further, both examples ignore other sources of income, such as wages, pre-tax retirement account distributions, dividends, etc., that could increase the tax due from the surtax. Plan your income.
Cordant Wealth Partners
DECEMBER 2, 2022
Most recently, Intel announced layoffs impacting 11% of the workforce in the fall of 2022 with a plan to cut $3 billion in costs over the next year. So, if you separate from the company near the end of the year, earning both a full year of salary plus severance payouts, you could be pushed into a higher tax bracket.
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Nationwide Financial
MARCH 6, 2023
For example, they could make most of their charitable contributions and medical expenditures in a year they plan to itemize. Tax season has begun, and it’s not too early to think about planning for the 2023 tax year. These contributions are made with pretax money, lowering the client’s overall tax bill for the year.
Harness Wealth
MARCH 11, 2024
Here are 20 tax-efficient actions to consider when filing your taxes in 2024. Retirement contributions Individuals can take advantage of various tax-related retirement planning strategies to reduce their taxable income today and post-retirement.
Zoe Financial
FEBRUARY 14, 2023
Similarly, filing taxes includes many steps and details everyone needs to know about. However, once you get into the best practices, you can plan ahead and maximize your tools in preparation for every tax season. Tax planning can be overwhelming , but it doesn’t have to be. January 23 – Tax season began.
Cordant Wealth Partners
SEPTEMBER 9, 2022
Like any major corporation, Microsoft’s compensation package includes various programs and benefits for its employees. For example, base salary makes up around 70% of total compensation for the typical Level 59 Software Engineer versus less than 50% for a Level 67 Principle SDE. Fund your ESPP account. See the chart below.
Cordant Wealth Partners
SEPTEMBER 27, 2021
And while these benefits can be quite valuable, in most cases, they do require a fair amount of time, planning, and intentionality to take advantage of them and incorporate them into your overall financial strategy. Fund your ESPP account. Incorporate tax planning with your RSU vesting schedule to minimize taxes.
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