Harness Wealth

MARCH 27, 2025

There are many reasons for LP sales, but some include an LP seeking liquidity or an exit from a fund thats underperforming. GP-led secondaries can also encompass “stapled transactions” where the sale of the existing fund interest is linked to an allocation in a new fund managed by the same GP. property interests.

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Taxes Tax Planning Assets Compliance 52

Harness Wealth

JULY 14, 2025

Ordinary income is taxed at the individual’s regular income tax rates, which in 2025 can range from 10% to a potential pre-TCJA rate of 39.6% Capital gains, on the other hand, arise from the sale of capital assets held for investment. However, these deductions may be recaptured and taxed upon sale.

Taxes 52

Taxes Investing Investments Assets 52

Wealth Management

JULY 2, 2025

April 14, 2025), a district court held on summary judgment that an insider didn’t have to disgorge his profits from the sale of stock received from a grantor retained annuity trust. The insider, who owns more than 10% of any one class of the company’s securities, must have made a purchase and a sale within a 6-month period.

Distribution 205

Distribution Estate Planning Wealth Management Planning 205

Harness Wealth

APRIL 28, 2025

This article explores the distinctions between K-1 and 1099 reporting, explaining their impact on tax planning, basis calculations, filing deadlines, and strategies to optimize your after-tax returns from alternative investments. Different types of income maintain their distinct tax treatment as they pass through to a partner.

Tax Planning 52

Tax Planning Taxes Distribution Compliance 52

Harness Wealth

JANUARY 29, 2025

In this comprehensive guide, well examine tax-loss harvesting in depth, looking at its benefits, drawbacks, mechanics, and suitability for different types of investors. Table of Contents What is tax-loss harvesting? How does tax-loss harvesting work? What is the wash-sale rule? When should you avoid tax-loss harvesting?

Taxes 52

Taxes Assets Portfolio Sales 52

Harness Wealth

JANUARY 10, 2025

Gains or losses from these sales are taxed as capital gains, either short-term or long-term, depending on how long the cryptocurrency was held. When striving to stay compliant, its important to maintain detailed records of all cryptocurrency transactions, including purchase price, sale price, and dates. No, you dont.

Taxes 52

Taxes Media Assets Education 52

Harness Wealth

JULY 14, 2025

Importantly, depreciation previously claimed on a property is “recaptured” by the IRS at a maximum federal rate of 25% upon sale. Net Investment Income Tax (NIIT): A 3.8% State-specific & transfer taxes: Beyond federal taxes, states may impose their own income taxes on rental profits and capital gains.

Taxes 52

Taxes Investing Investments Sales 52

Harness Wealth

APRIL 17, 2025

Both ISOs and NSOs follow vesting schedules that determine when options become exercisable, with taxation occurring at exercise and sale points. However, when exercised, holders must calculate the spread between strike price and fair market value for Alternative Minimum Tax purposes.

Taxes 52

Taxes Tax Planning Planning Sales 52

Harness Wealth

FEBRUARY 19, 2025

and have reported more than $5 million in gross receipts or sales on their previous year’s tax return. Ensure BOI reporting compliance and remain updated with the latest BOI regulations with a tax advisor from Harness. Get started Harness makes it easy to find tax and financial advisors best suited to your needs.

Taxes 52

Taxes Financial Advisor Certification Government 52

Harness Wealth

FEBRUARY 4, 2025

Real Estate Investment Taxation Real estate investments have the potential to generate rental income, appreciation, and tax benefits, but tax treatment varies depending on how the property is used. Rental Income: Taxed as ordinary income, but depreciation deductions can reduce taxable income.

Taxes 52

Taxes Investing Investments Startup 52

Wealth Management

JULY 17, 2025

Podcasts & Videos CE Webinars Research Newsletters Subscribe Subscribe News Related Topics RIA IBD Wirehouse RPA Insights & Analysis Regulation & Compliance Career Moves Recent in News See all Resonant Capital Advisors CEO and President Benjamin Dickey RIA $2.2B Resonant Capital Merges with Tax, Accounting Firm QBCo $2.2B

Taxes 146

Taxes Estate Planning Wealth Management Distribution 146

Nerd's Eye View

MAY 31, 2024

House of Representatives and is now being considered in the Senate would increase the number of firms classified as “small entities” and would require the SEC to assess the impact of proposed regulation on this newly enlarged class of investment advisers (which tend to have fewer compliance staff and resources available compared to larger (..)

Financial Planner 238

Financial Planner Ethics Taxes Clients 238

Carson Wealth

JULY 3, 2024

Develop a risk management plan to implement strategies that minimize or eliminate risks, and protect your business with appropriate insurance coverage, such as liability, property and business interruption insurance. Get Help with Tax Planning Tax planning is a critical component of financial management.

Financial Planning 142

Financial Planning Planning Retirement Planning Tax Planning 142

Harness Wealth

NOVEMBER 27, 2023

Core components of CAS involve bookkeeping, payroll, tax planning & compliance services customized for each client. Client Accounting Services are a comprehensive set of offerings provided by accounting firms to assist both individual and business clients in both compliance matters and day-to-day financial management.

Accounting 59

Accounting Clients Compliance Taxes 59

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

MAY 8, 2025

However, understanding the tax implications of operating as a Sole Proprietorship is crucial to ensure compliance and optimize financial outcomes. Taxes for a Sole Proprietorship differ significantly from those of other business structures, such as LLCs or corporations. What Is a Sole Proprietorship?

Taxes 52

Taxes Tax Planning Compliance Planning 52

Harness Wealth

MAY 14, 2025

By exploring these nuances, you can better appreciate the tax advantages and responsibilities that come with running a Co-op. Understanding Co-op Taxes Key Tax Deductions and Credits Tax planning tips for a Co-op Final Thoughts on Understanding Co-op Taxes Partner with Harness for Expert Tax Support What Is a Cooperative (Co-op)?

Taxes 52

Taxes Tax Planning Distribution Compliance 52

Harness Wealth

SEPTEMBER 23, 2024

Key Takeaways: Too many tax practices are bogged down in commoditized administrative tasks and compliance work, making it challenging to cross-sell services to expand client relationships. The more a firm can either automate processes or outsource tasks, the more time it’ll have to build deeper client relationships.

Taxes 52

Taxes Clients Compliance Tax Planning 52

Harness Wealth

MAY 2, 2025

Understanding LLC Taxes Key Tax Deductions and Credits Common Tax Deductions for an LLC Tax Planning Tips for an LLC Final Thoughts on Understanding LLC Taxes Partner with Harness for Expert Tax Support What Is a Limited Liability Company (LLC)?

Taxes 52

Taxes Tax Planning Compliance Strategic Planning 52

Harness Wealth

MAY 2, 2025

Understanding LLC Taxes Key Tax Deductions and Credits Common Tax Deductions for an LLC Tax Planning Tips for an LLC Final Thoughts on Understanding LLC Taxes Partner with Harness for Expert Tax Support What Is a Limited Liability Company (LLC)?

Taxes 52

Taxes Tax Planning Compliance Strategic Planning 52

Sara Grillo

OCTOBER 21, 2022

Jonathan spoke with Swarn Chatterjee, a UGA professor who reassured him that he could do real financial planning work and make better money working for a fee-only firm than by going into one of those insurance sales jobs. Also, nothing in this podcast or blog can be interpreted as legal or compliance advice.

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Insurance Financial Planner Fee Only Financial Advisor 98

Harness Wealth

MAY 15, 2025

This specialization means that Tennessee tax forms are tailored to these particular tax categories. The reason Tennessee has state-specific tax forms is to address the unique tax structure and ensure compliance with state laws. This reduces confusion and improves compliance rates.

Taxes 52

Taxes Compliance Electronics Sales 52

Harness Wealth

MAY 14, 2025

This unique feature means that the typical income tax forms you might expect in other states are not applicable here. However, South Dakota does have specific tax forms related to other types of taxes, such as sales tax, use tax, and business-related taxes.

Taxes 52

Taxes Sales Electronics Compliance 52

Carson Wealth

NOVEMBER 3, 2022

Often, especially in the case of a vehicle, a charity will sell the item, which means your deduction is based on the gross proceeds of the sale. While it’s always a good time to be generous, there are some years you might find it even more beneficial to achieve a tax deduction.

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Taxes Accounting Distribution Nonprofit 98

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. The services provided by these professionals vary but may fall into the following categories.

Taxes 52

Taxes License Education Tax Planning 52

Carson Wealth

MAY 4, 2023

Stock options can be either qualified or non-qualified, and the primary difference is how they are taxed. In practice, ISOs create complex tax compliance and planning issues for both employers and employees. A sale of stock acquired via ISO is considered either a qualifying disposition or a disqualifying disposition.

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Taxes Sales Planning Tax 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

MARCH 17, 2023

These changes may affect your overall tax liability, depending on your income and the specific DeFi activities you engage in. It is essential to stay informed about these updates and adjust your tax planning strategies accordingly.

Taxes 59

Taxes Government Assets Accounting 59

Harness Wealth

MAY 9, 2025

In this article, well examine the key considerations of tax practice succession planning, from initial preparation to a strategic exit, and how best to secure your firm’s continued success. Table of Contents Why is succession planning so vital for tax advisory practices?

Taxes 52

Taxes Planning Accounting Clients 52

Harness Wealth

APRIL 28, 2023

If you earn income from various sources throughout the year, such as equity windfalls, venture capital fund distributions, crypto investments, and sales, or small business income, you will need to pay estimated quarterly taxes. Use Form 1040-ES to calculate and pay estimated taxes on any equity compensation or sales.

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Taxes Distribution Startup Assets 52

Sara Grillo

APRIL 11, 2022

These services often include recommendations on investments, financial planning, retirement, Social Security, Medicare, tax planning, and other wealth-related topics. He also has considerably less of a compliance, operational, and administrative burden because he is not taking custody or discretion of his clients’ assets.

Financial Advisor 52

Financial Advisor Portfolio Clients Management 52

Sara Grillo

MAY 8, 2023

Indexed universal life (IUL) is often sold using smoke-and-mirrors sales shams, but in this podcast we’ll expose the truth! Listen to this if you are a financial advisors or consumer who wants to see through the crap and make better decisions about whether IUL is good for you (or your client) or NOT. And that would be a huge problem.

Insurance 59

Insurance Clients Financial Advisor Accounting 59

Harness Wealth

MAY 8, 2025

However, understanding the tax implications of operating as a Sole Proprietorship is crucial to ensure compliance and optimize financial outcomes. Taxes for a Sole Proprietorship differ significantly from those of other business structures, such as LLCs or corporations. What Is a Sole Proprietorship?

Taxes 52

Taxes Tax Planning Compliance Planning 52

Harness Wealth

APRIL 29, 2025

Massachusetts They have implemented targeted tax incentives for venture capital investments in technology companies within designated innovation zones. These programs can substantially reduce effective tax rates for qualifying investments, though careful attention to compliance requirements is necessary.

Taxes 52

Taxes Investing Investments Compliance 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

MAY 9, 2025

In this article, well examine the key considerations of tax practice succession planning, from initial preparation to a strategic exit, and how best to secure your firm’s continued success. Table of Contents Why is succession planning so vital for tax advisory practices?

Taxes 52

Taxes Accounting Planning Clients 52

Harness Wealth

APRIL 29, 2025

Investment sales trigger various tax obligations that require strategic planning to minimize impact, with different rules applying to stocks, mutual funds, real estate, and digital assets. Many investors believe that immediately reinvesting proceeds from stock sales eliminates their tax liability.

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