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Social Security Fairness Act: Planning Considerations For The Repeal Of The Windfall Elimination Provision (WEP) And Government Pension Offset (GPO)

Nerd's Eye View

For most people, Social Security benefits are calculated using a single formula, which takes into account the individual's history of earning income on which they paid Social Security tax. The penalty calculations were complex and difficult to estimate, and the provisions were poorly communicated to those affected.

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All the Tax Benefits You Need for Your Small Business

Harness Wealth

Tax deductions can save you thousands annually by reducing your taxable income through legitimate business expenses. Understanding these deductions is more critical than ever as tax laws evolve, presenting new opportunities for savings. Understanding this distinction is crucial for maximizing your tax benefits effectively.

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Understanding Limited Partnership (LP) Taxes: An Overview

Harness Wealth

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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Weekend Reading For Financial Planners (June 8-9)

Nerd's Eye View

Also in industry news this week: Backers announced the new Texas Stock Exchange, which seeks to provide companies with a lower-cost alternative to the NYSE and Nasdaq, which, if successful, could create a more competitive landscape and potentially better execution and reduced trading costs for financial advisors and their clients The American College (..)

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Stocks vs. Bonds: Historical Returns, Risk, and the Case for Both

Darrow Wealth Management

while bonds are broken down by duration and sectors (for example government bonds such as municipal or Treasury bonds or corporate bonds, including investment grade or high yield bonds), etc. Taxes, fees, expenses, trading costs, etc. For example, stocks are categorized by sectors, region, market capitalization, style, etc.

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Creating a Charitable Endowment: Long-Term Support Strategies for Your Causes

Carson Wealth

Donations to endowment funds are tax-deductible, giving them a place in your overall financial management and tax plan. An endowment offers benefits that can extend beyond tax deductions and financial efficiency. One of the most important governance responsibilities is hiring professional investment management.

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What is a BOI Report and How Do You File One?

Harness Wealth

The federal government has appealed this second injunction, indicating its intention to reinstate CTA requirements. Many shell companies are often used to shield illicit activities such as money laundering, tax evasion, and terrorist financing. Harness makes it easy to find tax and financial advisors best suited to your needs.

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