Harness Wealth

APRIL 17, 2025

Professional services require documentation that shows a direct benefit to your business, supported by contracts or engagement letters. This encompasses a wide range of insurance types, from basic liability and property coverage to specialized policies like professional liability, cybersecurity, and business interruption insurance.

Taxes

Harness Wealth

MARCH 6, 2025

Office supplies: Expenses for items like paper, pens, software, and other necessary office equipment Marketing and advertising: Costs incurred for promoting your freelance services, including website development, social media advertising, and business cards. Keep all receipts, invoices, bank statements, and other documentation.

Taxes

Harness Wealth

JULY 14, 2025

Short-term gains (on assets held for less than 1 year) are taxed as ordinary income. Long-term gains (on assets held for over 1 year) benefit from lower federal rates (0%, 15%, or 20% for 2025). The process involves an investor transferring appreciated real estate into an irrevocable CRT, which then sells the asset tax-free.

Taxes

Darrow Wealth Management

AUGUST 4, 2025

5 factors to consider when deciding between lifetime pension payments or a lump sum: Your other retirement assets Flexibility of payout options Your family history of longevity Your comfort taking on investment risk Financial health and stability of the company Do you have other retirement savings? Benefits are limited to a maximum guarantee.

Retirement

Harness Wealth

JULY 14, 2025

While software options can cost anywhere up to $100 for individual returns (with many being free), professional tax preparers charge anywhere from $200 to $600 or more, making software an economically attractive choice for many taxpayers. The financial safety net provided by tax software companies also rivals that of professional services.

Taxes

The Big Picture

JULY 21, 2025

You’re seeing weakness in like white collar professional services. And it could be any topic, assets, geography, policy, what data point is getting overlooked but is important and people should be paying attention to? A lot of it is in kind of a cyclical industries like education and health. Recruiting intensity is low.

Economics

Nerd's Eye View

MARCH 18, 2024

Soft asstets are talent, interst, and skills that are not directly related to one's professional field. And the financial advisor who can find an overlap between their soft assets and the interests of a COI they'd like to connect with is much more likely to be successful in their outreach efforts.

Assets