Harness Wealth

JULY 31, 2025

These aren’t just annual tweaks—they’re openings for meaningful, proactive tax planning. Digital asset reporting requirements The 2025 tax year brings a major shift in how digital assets are reported. TCJA sunset preparation The clock is ticking on the Tax Cuts and Jobs Act. The top rate’s increase from 37% to 39.6%

Taxes

Nerd's Eye View

MAY 16, 2025

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.

Financial Planner

Darrow Wealth Management

APRIL 21, 2025

While a Roth conversion may never make sense for some individuals, for others, early retirement years may be the best time to convert pre-tax accounts to tax-free Roth. Your current and projected future tax rate is often a main component of the decision, but there are other considerations and benefits as well.

Retirement Planning

Tobias Financial

JUNE 16, 2025

These events may affect your investment approach, tax planning strategies, insurance needs, and estate planning documents. Without periodic evaluations, it’s possible for parts of your plan to become misaligned with your current circumstances.

Planning

WiserAdvisor

JUNE 16, 2025

Privacy protection through offshore accounts: Many high-net-worth individuals maintain offshore accounts in other countries. These accounts typically offer stronger privacy protections as well as favorable tax regimes that can enhance your wealth preservation strategy. Use Separately Managed Accounts (SMAs).

Wealth Management

Harness Wealth

JANUARY 29, 2025

These contributions not only provide immediate tax relief but help secure longer-term financial stability during retirement. 401(k) Plans: Contribute the maximum allowable amount for 2024 : $23,000 if youre under 50, or $30,500 if youre 50 or older. Available to taxpayers aged 70.5

Taxes

Harness Wealth

APRIL 30, 2025

With proper planning, certain tax obligations can be legally deferred, reduced, or in some cases eliminated entirely. To maximize the value you ultimately receive from your exit, incorporating comprehensive tax planning into your strategy is highly advantageous.

Taxes

Yardley Wealth Management

DECEMBER 17, 2024

The Foundation: Emergency Funds and Debt Management The cornerstone of any solid financial plan is having a robust emergency fund. In today’s economic climate, I recommend maintaining 6-9 months of living expenses in easily accessible accounts. Regarding debt management, consider the current interest rate environment.

Financial Planning

Yardley Wealth Management

FEBRUARY 4, 2025

Tax Strategies for High-Income Earners in 2025. In this comprehensive guide, we’ll explore proven strategies to help you minimize tax liability while staying compliant with current regulations. From maximizing deductions to managing capital gains, we’ll cover everything you need to know about smart tax planning.

Taxes

Harness Wealth

APRIL 17, 2025

Donor-advised funds (DAFs) have emerged as powerful tools that deliver this exact combination, providing immediate tax advantages while offering flexibility to recommend grants to qualified organizations over time. At their core, donor-advised funds are specialized 501(c)(3) charitable accounts housed within public charities.

Taxes

Harness Wealth

APRIL 30, 2025

This article will explore how to navigate complex tax situations arising from multiple income sources, examining various income types, reporting requirements, self-employment obligations, and strategic approaches to record-keeping and tax planning that can help protect your financial interests.

Taxes

Midstream Marketing

DECEMBER 6, 2024

Scheduling tools, like Hootsuite, can help you manage your social media accounts. Running focused social media campaigns that highlight their services and share their skills in areas like tax planning or retirement planning. Use SEO tools like SEMrush or Ahrefs. This keeps your outreach regular and effective.

Marketing

Harness Wealth

MARCH 14, 2025

Many firms use unencrypted email or physical drop-offs to receive sensitive tax data, leaving confidential information exposed to possible breaches. Without a secure system in place, firms face the risk of hacked email accounts, lost or misplaced documents, and even compliance violations with the IRS and financial regulations.

Taxes

Harness Wealth

JANUARY 9, 2025

Backdoor strategies are retirement contribution methods that allow individuals to bypass income limits and contribute to tax-advantaged retirement accounts. The strategies typically involve making after-tax contributions to a traditional IRA or 401(k), then converting those funds into a Roth IRA or Roth 401(k).

Taxes

Harness Wealth

JULY 31, 2025

If your exit exceeds the $10 million exclusion limit, consider timing stock sales across multiple tax years to optimize overall tax efficiency. This strategy requires careful coordination with other tax planning considerations, and regular consultation with qualified advisors.

Taxes

Harness Wealth

APRIL 17, 2025

These include student loan interest, educator expenses, and certain contributions to retirement accounts. The credit amount varies based on household income, family size, and the flexibility in how it is claimed, either as an advance credit that reduces monthly premiums or when filing taxes.

Taxes

Inside Information

JANUARY 31, 2025

Depending on a firms tech strategy, she wrote, advisors may have to log in to the CRM, custodian, portfolio accounting, planning software, tax planning software, estate planning software, social security maximizer software, etc.,

Risk Tolerance

Carson Wealth

JUNE 27, 2025

In addition to common types of insurance such as auto, property, and life insurance, you might consider kidnap and ransom insurance, insurance for luxury items, customized liability coverage that can extend coverage limits for other policies, business and succession planning insurance, etc. Tax planning. Tax planning is crucial.

Financial Planning

Financial Symmetry

APRIL 9, 2025

Tax planning might not top everyone’s list of leisure activities, but in the middle of tax season, theres a hidden opportunity. In this episode, we talk about five strategies you can use during tax season to create opportunities to help you reach your financial goals.

Taxes

Harness Wealth

FEBRUARY 5, 2025

Key indicators of this status may include long-term housing (whether leased or owned), local bank accounts, or obtaining a residency visa. FBAR and FATCA Beyond income tax, expats must also deal with the reporting requirements for foreign assets. Failing to do so can result in severe penalties, even if no tax is owed.

Taxes

Financial Symmetry

JUNE 11, 2025

Rather than relegating students to simple tasks, we immerse them in real client work, encompassing tasks such as tax planning and estate preparation, as well as attending client meetings and onboarding new accounts. One critical lesson has been the importance of staggering intern onboarding and graduation dates.

Clients

Harness Wealth

JULY 31, 2025

What are the tax implications of buying startup shares? What are the tax implications of selling startup shares? How to trade startup shares effectively Tax planning strategies How platforms like Hiive and Harness can help FAQs What are startup shares? It should be noted that state tax implications can vary widely.

Startup

Harness Wealth

APRIL 28, 2025

This article explores the distinctions between K-1 and 1099 reporting, explaining their impact on tax planning, basis calculations, filing deadlines, and strategies to optimize your after-tax returns from alternative investments. Different types of income maintain their distinct tax treatment as they pass through to a partner.

Tax Planning

Carson Wealth

FEBRUARY 4, 2025

While most taxpayers dont need to worry about estate and gift taxes, having significant assets can make them a challenge. Also, like most UHNW individuals, you may have income from several sources like investments, real estate, and business interests that may require special tax planning. Donate to qualified charities.

Risk Management

Harness Wealth

JULY 14, 2025

Unrelated Business Taxable Income (UBTI) Unrelated Business Taxable Income (UBTI) is income earned by a tax-exempt entity (like an IRA or pension plan) from a trade or business that’s not substantially related to the organization’s exempt purpose.

Taxes

Harness Wealth

JANUARY 29, 2025

For high tax bracket investors, especially those with significant capital gains or high ordinary income taxes, tax-loss harvesting can offer major benefits by reducing your overall tax burden. Careful consideration of these costs, alongside potential tax savings, is essential before pursuing the strategy.

Taxes

Zoe Financial

JUNE 20, 2025

2025 Observations in Retirement and Estate Planning Trend Insight Increased Use of Roth Conversions More high-net-worth individuals are adopting Roth conversion strategies as part of long-term tax planning—not to time the market, but to shift assets into tax-advantaged accounts over time, especially ahead of potential future tax increases.

Retirement Planning

Harness Wealth

APRIL 30, 2025

Foreign accounts Failure to report foreign bank accounts, financial assets, or income can result in severe penalties and trigger an audit. The IRS has intensified its efforts to combat offshore tax evasion, and unreported foreign holdings are a major red flag, especially with increased information sharing between countries.

Compliance

WiserAdvisor

JULY 9, 2025

There are so many products out there – 401(k)s, mutual funds, Individual Retirement Accounts (IRAs), Exchange-Traded Funds (ETFs), bonds, Real Estate Investment Trusts (REITs), etc. Each comes with its own rules, returns, fees, lock-ins, and tax treatments. Understanding all of this can be overwhelming.

Financial Advisor

Workable Wealth

OCTOBER 14, 2020

This could come in many forms: Negative spending habits Little to no emergency fund Inadequate investment vehicles Improper risk management and insurance coverage Making emotional financial decisions Overpaying on taxes Acquiring unnecessary debt Incurring penalties and fees Let’s look at a few of these examples more in-depth. Tax Planning.

Financial Planning

Darrow Wealth Management

NOVEMBER 7, 2024

Exercise strategy: Timing: Consider the tax implications of exercising vested options before or after the IPO, timing of sales, and tax planning opportunities. Cash flow: Depending on the type of equity you have, exercising can be challenging given tax implications and having cash to buy the stock.

Taxes

Harness Wealth

MARCH 6, 2025

A good rule of thumb is to set aside at least 30% of every payment you receive to cover your estimated tax obligationshowever, this percentage may need to be adjusted based on your individual tax bracket. On the whole, its advisable to consult a tax adviso r to develop a dependable tax plan.

Taxes

Harness Wealth

AUGUST 1, 2025

Spring and Fall are typically when an accounting firm’s gears are in full operation. These less intense periods are important windows that allow your tax firm to evaluate its performance and efficiency, and implement improvements that will not only prepare you better for next year’s peak seasons but pave the way for wider growth in general.

Taxes

Harness Wealth

APRIL 16, 2025

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. To qualify for tax-free treatment under IRC Section 368 , attention to detail is essential.

Taxes

Carson Wealth

FEBRUARY 6, 2025

Consider spreading investments across different types of accounts, like tax-deferred accounts, to minimize the chance of incurring this additional tax. Charitable Giving and Tax Planning The tax rules continue to encourage generosity.

Taxes

Yardley Wealth Management

FEBRUARY 18, 2025

Tier 2: Allocates funds to retirement accounts and family support. Tier 3: Channels surplus funds into philanthropy and luxury investments. Case Study 2: Business Sale and Wealth Reallocation A successful entrepreneur sells their business and employs a waterfall strategy: Tier 1: Pays off debts and reinvests in new ventures.

Wealth Management

Darrow Wealth Management

NOVEMBER 11, 2024

Although any investor with earned income can make a non-deductible contribution to an IRA (up to $7,000 in 2024-2025 if under age 50) and still take advantage of tax-deferred growth, it still may not be advisable. Many people end up paying taxes twice. To calculate the tax-free percentage: Your Total Basis (e.g. Yes and no.

Taxes