Harness Wealth

APRIL 17, 2025

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.

Taxes 52

Taxes Tax Planning Professional Services Planning 52

Harness Wealth

APRIL 30, 2025

With proper planning, certain tax obligations can be legally deferred, reduced, or in some cases eliminated entirely. To maximize the value you ultimately receive from your exit, incorporating comprehensive tax planning into your strategy is highly advantageous.

Taxes 52

Taxes Planning Tax Planning Sales 52

Harness Wealth

MARCH 27, 2025

What are the tax challenges in secondary transactions? Secondary transactions present a specific set of tax challenges due to the nature of the investments and the structures involved. Unrelated Business Taxable Income (UBTI) UBTI is income generated by a tax-exempt organization from an unrelated trade or business.

Taxes 52

Taxes Tax Planning Assets Compliance 52

Harness Wealth

MARCH 27, 2025

By shifting state tax payments to the entity level, business owners bypass the double taxation that arises when these taxes are paid individually and subjected to the SALT deduction limit. Simplified tax filing PTET’s consolidation of state tax payments streamlines administrative processes and minimizes compliance costs.

Taxes 52

Taxes Compliance Consulting Financial Planning 52

Harness Wealth

FEBRUARY 5, 2025

If the foreign taxes you paid exceed this limit, the excess foreign tax can generally be carried forward for up to ten years or carried back one year (via an amended return). Maintaining accurate records of foreign income and taxes paid is therefore vital to calculating the correct FTC and maintaining tax compliance.

Taxes 52

Taxes Compliance Accounting Government 52

Sara Grillo

JUNE 7, 2024

Are you ready to present yourself to them? Wear a suit and present yourself conservatively. Nothing on this website shall be construed as compliance or legal advice of any sort; for such advice, consult with your compliance officer or attorney. How do I meet them?” ” Whoa, let’s press pause for a second.

Financial Advisor 52

Financial Advisor Clients Executive Compensation Compliance 52

Harness Wealth

OCTOBER 5, 2023

From quarterly estimated tax planning to equity compensation and crypto tax planning, diversifying your service offerings can not only set you apart from the competition, it can also help you significantly grow your revenue and retain clients.

Taxes 59

Taxes Tax Planning Accounting Clients 59

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. This systematic approach ensures compliance and optimal tax outcomes.

Taxes 52

Taxes Retirement Retirement Planning Distribution 52

Harness Wealth

MAY 12, 2025

This widening gap between the demand for skilled tax professionals and the available supply presents considerable challenges for tax firms of all sizes. Perception of the profession The tax profession also suffers from an image problem in the eyes of younger generations.

Taxes 52

Taxes Compliance Accounting Numbers 52

Sara Grillo

MARCH 22, 2024

Aaron Parish [link] Level Wealth Stephan Shipe Home Scholar Advising Ohio Curtis Bailey quietwealth.net Flat Fee of $6,000 per year charged at $500 per month Brian Tegtmeyer Home Flat Fee financial planning, investment management, and tax planning for new retirees. I also provide one-time retirement plans for DIY investors.

Financial Planning 52

Financial Planning Fee Only Financial Planner Financial Advisor 52

Harness Wealth

JANUARY 29, 2025

Unfortunately, it could also lead to larger capital gains and taxes in the future. While there may be some truth to that, it assumes consistent investment growth and accurate predictions of future capital gains tax rates. In short, the present value of current tax savings is seen as more valuable than uncertain future tax liabilities.

Taxes 52

Taxes Assets Sales Portfolio 52

Harness Wealth

SEPTEMBER 18, 2024

These numbers show an opportunity for tax practices to build deeper, meaningful relationships with their clients, helping them to navigate some of life’s most challenging financial decisions. And you’ll see in our Q&A below, that tax advisors can bring estate planning into the conversation early on in a client relationship.

Taxes 52

Taxes Clients Planning Estate Planning 52

Harness Wealth

JANUARY 9, 2025

Mega Backdoor Roth 401(k): In this case, you convert your after-tax contributions directly into a Roth 401(k) within your employer’s plan. Remaining compliant Implementing a Mega Backdoor strategy requires precision to ensure compliance with IRS rules and to maximize its benefits.

Taxes 52

Taxes Planning Retirement Retirement Planning 52

International College of Financial Planning

OCTOBER 5, 2021

Hence, you must have a passion for finance and always stay ahead in the game.The laws, regulations, and compliance requirements concerning investment, planning, and finance keep changing regularly and you must stay abreast with them. Investments, tax planning, retirement planning is a dynamic field.

Financial Advisor 52

Financial Advisor Communication Clients Retirement Planning 52

Harness Wealth

OCTOBER 23, 2023

If you’re a CPA who works with clients on more than just annual tax returns, you’re likely already providing accounting advisory services. This emerging discipline offers a wealth of opportunities for both clients and accounting firms, and focuses on providing strategic guidance and future-focused tax planning throughout the year.

Accounting 52

Accounting Taxes Strategic Planning Estate Planning 52

Harness Wealth

MAY 9, 2025

A well-articulated succession plan signals a commitment to the future of the firm and provides a tangible roadmap for career progression. Attracting new talent: Prospective employees dont just evaluate a companys present situation but also its future prospects. What are the key steps in tax practice succession planning?

Taxes 52

Taxes Planning Accounting Clients 52

The Big Picture

AUGUST 15, 2023

Let me say what your compliance wouldn’t allow you to say. We split the amount and bought a zero coupon bond of the present value upfront. SEIDES: And I put that in a presentation I had as he had just given his reason for losing the bet. It’s part of their own tax planning. So back in 2007.

Management 130

Management Investing Investments Government 130

Harness Wealth

APRIL 29, 2025

Freelance tax season presents a complex web of obligations that traditional employees typically do not face. Without employer withholding, the tax compliance burden falls squarely on your shoulders. Health Savings Accounts present another attractive option for managing healthcare costs while securing tax advantages.

Tax Planning 52

Tax Planning Taxes Planning Insurance 52

Harness Wealth

MARCH 20, 2025

The professional restrictions that resulted from COVID-19 may have passed, however, remote work has remained an ever-present feature of the post-pandemic employment arena. With over 22 million Americans working remotely , understanding the tax deductions available for home offices is more relevant than ever.

License 52

License Taxes Insurance Consulting 52

Harness Wealth

MAY 12, 2025

This widening gap between the demand for skilled tax professionals and the available supply presents considerable challenges for tax firms of all sizes. Perception of the profession The tax profession also suffers from an image problem in the eyes of younger generations.

Taxes 52

Taxes Compliance Accounting Numbers 52

Harness Wealth

MARCH 25, 2025

With that said, detailed records, including receipts and mileage logs, are essential for substantiating all deductions and ensuring IRS compliance. Travel nursing and taxes Travel nurses face a specific tax challenge, primarily due to their pay structure and the concept of a “tax home.”

Medical 52

Medical Taxes Tax Planning Education 52

Harness Wealth

APRIL 29, 2025

Southern states States in this region have cultivated an environment particularly conducive to real estate alternative investments, combining lower property tax rates and reduced transfer tax burdens. This variation introduces additional complexity in tax planning, requiring careful consideration of both federal and state benefits.

Taxes 52

Taxes Investing Investments Compliance 52

Harness Wealth

MAY 9, 2025

A well-articulated succession plan signals a commitment to the future of the firm and provides a tangible roadmap for career progression. Attracting new talent: Prospective employees dont just evaluate a companys present situation but also its future prospects. What are the key steps in tax practice succession planning?

Taxes 52

Taxes Accounting Planning Clients 52