Darrow Wealth Management

NOVEMBER 17, 2022

The surtax will increase the Massachusetts tax liability by $68,000 on the sale of their home. A tech employee at a startup has stock options. 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.

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Taxes Wealth Management Tax Planning Compensation Planning 95

Harness Wealth

MARCH 10, 2023

Under this structure, fund managers can defer paying taxes on their carried interest for up to three years after the profits are realized. For instance, suppose a fund manager invests in a startup that generates $1 million in profits in 2023. K-1 forms are reported on an individual’s tax return.

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Taxes Tax Planning Startup Portfolio 52

Harness Wealth

JUNE 9, 2023

Financial planning is about understanding and utilizing your assets in a manner that helps you and your family work towards achieving your goals and meeting your needs. While it may seem like a luxury that is only available to the wealthy, anyone is capable of building an effective financial plan and putting it into action.

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Financial Planning Planning Financial Planner Wealth Management 52

Harness Wealth

FEBRUARY 20, 2024

Employed by law firms, corporate legal departments, or running their own practices, tax attorneys can be looked to for legal tax issues and disputes, along with comprehensive tax planning and preparation. Tax advisors can be invaluable for a broad spectrum of taxpayers with complex tax situations.

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Taxes License Education Tax Planning 52

Harness Wealth

MARCH 11, 2024

As a company founder, early startup employee, or small business owner, you may find yourself in a higher tax bracket as your business grows or you realize gains from equity compensation. But that doesn’t mean you simply have to accept a higher tax bill.

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Bell Investment Advisors

JUNE 16, 2022

At a minimum, be sure your assets will cover your lifetime needs even if you give some away. Tax Matters. Once your needs are covered, you’re ready to create your plan. Start by getting clear on gift and estate tax laws. Transfers over that amount are subject to a tax rate of up to 40%.

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Taxes Assets Financial Planner Education 52

Harness Wealth

APRIL 28, 2023

It’s also a good idea to keep track of your payments and save any receipts or confirmation numbers as proof of payment and inform your Harness Tax Advisor or other tax professional. Use Form 1040-ES to calculate and pay estimated taxes on any equity compensation or sales.

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Harness Wealth

MARCH 24, 2023

In this article, we’ll define some of the most common forms of equity compensation issued by startups and established companies alike, including RSUs, ISOs, NSOs, and more. To qualify for QSBS , companies must meet certain criteria including being a US-based based C corporation and not having more than $50 million in business assets.

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Taxes Startup Wealth Advisor Financial Advisor 52

Harness Wealth

MAY 25, 2023

Fee Type Fee Description Typical Cost* Examples Assets Under Management (AUM) A fee based on the percentage of your total managed assets. Assets Under Management (AUM) Investment advisors often charge a fee based on the percentage of assets under management. Tax services provided through Harness Tax LLC.

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Financial Advisor Certified Financial Planner Ethics CFP 52

The Big Picture

OCTOBER 19, 2022

That group provides investment services, education and research to more than a thousand financial advisory firms, representing more than $3 trillion in assets. It was a startup. It felt like a startup. I mean, it wasn’t quite a startup. So it was really, really fun startup, very collaborative, felt like a family.

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Financial Advisor Clients Taxes Investing 277