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Personal, estate, and business tax planning strategies for 2023

Nationwide Financial

Informally fund nonqualified deferred compensation plans If the business has a nonqualified deferred compensation plan for key employees, it may make sense to informally fund that plan in 2023 to ensure the company has the cash flow to meet the future obligation.

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20 Ways to Reduce Your Taxes in 2024: A Guide for Founders, Startup Employees, and Executives

Harness Wealth

Additionally, if the donation consists of appreciated securities or assets, the donor can avoid capital gains taxes that would otherwise arise from selling those assets. Due to the situational nature of ISOs and NSOs, it’s advantageous to work with a tax advisor to understand the tax impact of exercise stock options.

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