MainStreet Financial Planning

MARCH 7, 2025

Tax season can feel overwhelming, whether you’re filing for the first time or you’ve been doing it for years. Should you tackle your taxes on your own, or is it time to bring in a professional? Lets explore the pros and cons of DIY tax preparation and when seeking expert help might be the right move.

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Taxes Financial Planning Planning Numbers 52

Harness Wealth

MARCH 27, 2025

As dynamic as the secondary market may be, secondaries come with complex tax implications that can significantly impact returns if not properly managed. What are the tax implications of secondary transactions? What are the tax challenges in secondary transactions? What tax strategies optimize secondary investments?

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Taxes Tax Planning Assets Compliance 52

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. Get it right, and you will have set yourself up for a smooth transition and maximized returns.

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Taxes Tax Planning Startup Compliance 52

Harness Wealth

JANUARY 29, 2025

April 15 marks the IRS tax return filing deadline for 2025. Although this is the traditional tax filing deadline, given the spate of recent natural disasters (such as the California wildfires and Hurricane Milton), the IRS is granting certain filing and payment extensions beyond this date.

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Taxes Medical Distribution Tax Planning 52

Harness Wealth

APRIL 30, 2025

In this article, well examine the nature of IRS audits, the common audit red flags that result in IRS scrutiny, and how professional tax advisors can help reduce the risk of you being audited. An IRS audit is a formal review of your financial records to verify their accuracy and compliance with tax laws.

Compliance 52

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Wealth Management

JULY 10, 2025

Document Management: Microsoft SharePoint SharePoint is the reason we’re in the whole Microsoft ecosystem. Copilot can very easily look across all of our Teams meetings, all of our SharePoint documents, our emails, etc. But again, we’ll continue to support both because of that client experience transition challenge.

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The Big Picture

JULY 16, 2025

And also, you know, there are really nice tax planning mechanisms that people can use to help them achieve, achieve those things as well. It shouldn’t be just something you think about when you’re at your estate attorney and you’re signing a document and that’s the last you see of it. Exactly that.

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Harness Wealth

DECEMBER 30, 2024

However, as appealing as these forms of compensation may be, they can result in sizable and unexpected tax bills. Along with the 83(b) election, there is a less well-known provisionthe 83(i) election that offers other tax advantages to certain types of employees. Table of Contents What is an 83(i) election?

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Workable Wealth

NOVEMBER 11, 2020

Here are a few things to consider: Your income Family size and additional income Existing insurance coverage Net worth Current portfolio and retirement assets Did you just start a family, buy your first or second home, or start your own business? One of the most common reasons people put off creating one is a perceived lack of assets.

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Estate Planning Insurance Financial Planning Planning 52

Tobias Financial

JUNE 2, 2025

Understanding how assets will be distributed, navigating tax implications, and aligning these decisions with your personal goals can feel overwhelming. The software connects with Orion, our portfolio managing software, ensuring that investment assets are automatically included, providing an accurate snapshot of the entire estate.

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Harness Wealth

MAY 8, 2025

When considering the various business structures available, understanding the tax implications is crucial for making informed decisions. A Limited Partnership (LP) offers a unique blend of operational flexibility and liability protection, but its tax treatment can be complex. Table of Contents What Is a Limited Partnership (LP)?

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Taxes Tax Planning Compliance Planning 52

Harness Wealth

FEBRUARY 5, 2025

The rise of remote work and digital nomadism has made FEIE a common tax minimization strategy for Americans living abroad. What is the Foreign Tax Credit (FTC)? Financial and lifestyle considerations of living abroad The importance of professional tax advice for expats FAQs about the FEIE What is the Foreign Earned Income Exclusion?

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Taxes Compliance Accounting Government 52

Zoe Financial

JUNE 20, 2025

Getting Started: What First-Time Planners Should Know Even for seasoned investors, key decisions around taxes, estate structure, and long-term income planning can carry significant implications. She wants to minimize taxes while aligning her legacy with charitable values.

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Harness Wealth

APRIL 16, 2025

Roth IRA conversions present a significant challenge for retirement planners: pay taxes now or later? Moving funds from traditional IRAs to Roth accounts triggers immediate taxation but promises tax-free withdrawals in retirement. One of the Roth IRA’s most compelling features?

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Taxes Retirement Retirement Planning Distribution 52

Carson Wealth

MAY 7, 2025

Positioning Philanthropy as a Cornerstone of Legacy There are many reasons for giving during your lifetime, including supporting causes you care about, making a positive impact on the world, and accessing certain tax advantages. There are overall limits on charitable donation tax deductions, however.

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Carson Wealth

MAY 29, 2025

Do you know how you will take money from your 401(k) or IRA, how you will take Social Security, how to be tax-smart with your income planning? Your advisor can help you decide which solution provides the most protection for you based on your income and assets. Its also how you plan your retirement income.

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Harness Wealth

APRIL 28, 2025

Private equity and alternative investments create unique tax reporting complexities that demand attention. 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.

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Tax Planning Taxes Distribution Compliance 52

Steve Sanduski

APRIL 8, 2025

’ So they read it and they document it, they model it into the financial planning software, how it’s going to work when shares are coming in over time. And then pivoting over into, ‘Who does your taxes? To them it’s, ‘We need to understand all this.’ What’s their relationship with money?

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Harness Wealth

JULY 14, 2025

Tax season is approaching, which means many people will be exploring the use of tax software to prepare and submit their tax returns themselves. While tax software certainly offers benefits, particularly when it comes to cost, the decision to use it isn’t nearly as straightforward as it may seem.

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Taxes Tax Planning Education Electronics 52

Carson Wealth

DECEMBER 10, 2024

By Brady Marlow, CFP, AEP, CAP, CPWA, CExP , Director, Carson Private Client Wealth Strategy The emotional and psychological benefits of charitable giving are well documented. With careful planning, you may be able to reduce your tax bill or optimize the impact of your estate. This is, of course, a very individual decision.

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Steve Sanduski

FEBRUARY 18, 2025

Advisors who learn how to incorporate these and other emerging asset classes into Life-Centered Financial Plans will be offering a valuable service that sets them apart — especially in the eyes of high-net-worth individuals. But, to a growing segment of clients and prospects, these investments are almost as important as their 401(k)s.

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Financial Planning Planning Valuation Clients 52

Darrow Wealth Management

NOVEMBER 11, 2024

Because many taxpayers earn too much to make pre-tax IRA contributions as they have a 401(k) at work. 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. Yes and no.

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Carson Wealth

DECEMBER 31, 2024

The simplest form of estate equalization would be dividing all your assets equally by the number of children you have. You would divide all assets equally among beneficiaries, giving each person an equal percentage of each asset. Each of the two children in the prior example might receive different types of assets.

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Estate Planning Planning Taxes Distribution 52

Zajac Group

NOVEMBER 7, 2024

One of the most important aspects of developing a thorough estate plan is tax planning, as this has the potential to diminish the impact of your gifts and your loved ones’ inheritances. Let’s take a look at the tax impact and other considerations of each. million before triggering federal estate taxes).

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Planning Estate Planning Taxes Assets 52

The Big Picture

MAY 20, 2025

And the third thing is documenting war crimes. And that’s actually something that Bridgeway Foundation knows a lot about, 00:13:33 [Speaker Changed] Documenting war crimes, 00:13:35 [Speaker Changed] Documenting. What do you do with all of that information once you’ve documented a war crime in Ukraine?

Management 130

Management Numbers Transportation Accounting 130

Nerd's Eye View

DECEMBER 30, 2024

We start with several articles on retirement planning: Why considering a client's retirement time horizon and spending flexibility could lead to more accurate (and often higher) safe withdrawal rates than the simpler "4% rule" Four unique risks retirees face when drawing down their assets, from sequence of returns risk to tax risk, and how financial (..)

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The Big Picture

FEBRUARY 25, 2025

Charley Ellis : The research explosion happened in the seventies and then into the eighties, but the documents that you were looking at or thinking about, were all looking backwards, Give you the plain vanilla facts of what’s happened in the last five years in a standardized format with no analytical or insight available.

Investing 162

Investing Investments Management Engineering 162

Harness Wealth

FEBRUARY 4, 2025

However, unlike stocks and bonds, alternative investments, or alts as theyre commonly known, have unique tax treatments and complex reporting requirements that investors should carefully consider before investing. Well also go into some potential strategies to optimize tax efficiency. How Are Alternative Investments Taxed?

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Taxes Investing Investments Startup 52

Financial Symmetry

APRIL 28, 2025

If you have no estate documents, known as dying intestate , and no beneficiaries are listed, then distribution will follow your states intestate succession laws. If you had estate documents created, you want to make sure these designations match with the estate distribution flow in them, especially if trusts were created.

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Estate Planning Accounting Insurance Distribution 62

Discipline Funds

DECEMBER 29, 2024

Asset and Liability Matching. Good financial planning is all about asset and liability matching across time. That means you need to make sure you understand how your income and assets relate to your expenses and liabilities. A financial plan with an asset liability mismatch is likely to fail over time.

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SEI

JUNE 25, 2025

Asset management Connecting investors to what matters most, so they can achieve their goals and make confident decisions. You should not act or rely on the information contained herein without obtaining specific legal, tax, accounting, and investment advice from an investment professional. Information in the U.S.

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Banking Economy Economics Financial Services 52

Darrow Wealth Management

APRIL 28, 2025

A living trust doesn’t help with asset protection purposes or remove the home from your taxable estate. Leaving a home to a spouse (if not owned jointly during life) or children in a willcauses those assets to pass through probate. Again, revocable living trusts avoid probate, but they don’t protect assets from creditors.

Estate Planning 95

Estate Planning Insurance Taxes Planning 95

Wealth Management

JUNE 11, 2025

In my practice representing high-net-worth clients in estate and trust disputes, I often see how expectations, emotional baggage and vague documents can turn estate plans into battlegrounds. Related: Tax Court Rules $2 Million Bequest to Spouse Isn’t QTIP To prevent this, advise your clients to discuss their estate plans early and openly.

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Nerd's Eye View

MAY 14, 2025

They might want to have more control over how the account assets are distributed to their beneficiaries. Notably, the IRS regulations only allow this 'separate accounting' treatment when the trust document includes a provision to divide the trust into separate subtrusts before the account owner's death. Read More.

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Carson Wealth

MAY 8, 2025

The documents youll need at a minimum may include a will, durable power of attorney, and a health care power of attorney. Taxable investment accounts may be another option and provide additional tax diversity in your saving strategy. Early withdrawals can result in taxes, penalties, and lost growth potential.

Retirement 71

Retirement Retirement Planning Taxes Distribution 71

Trade Brains

JUNE 10, 2025

At Rs 19,878 crore, net interest income climbed by 27%, and asset quality is significantly increasing. The company’s Profit After Tax (PAT) reached Rs 10,353 crore in FY25, growing by 33% from Rs 7,759 crore in FY24. Read all the related documents carefully before investing. Investments in securities are subject to market risks.

Financial Services 72

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Nationwide Financial

AUGUST 16, 2024

Start with important documents There are 3 main documents your clients will want to have in the event of their passing, or if something renders them unable to care for their farm, including: Will Durable power of attorney Medical advance directive These documents can be essential for clients with no farm family successors.

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