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Crisis Management Financial Planning: Preparing for Unexpected Events

Carson Wealth

Unexpected events can derail your progress toward your goals and even your financial security if you don’t have a plan for managing them. Financial planning should ideally involve every area of your financial life because they are all interrelated. Tax planning. Estate planning. Tax planning is crucial.

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All the Tax Benefits You Need for Your Small Business

Harness Wealth

This represents a significant change from previous years’ higher percentages, making strategic timing of asset purchases increasingly important for tax planning purposes. The deductibility of legal fees is governed by specific guidelines based on their purpose and relationship to business operations.

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Your 2025 Tax Extension Guide: When, Why, and How to File for More Time

Harness Wealth

Determining the fair market value of stock options, for example, can be time-consuming, with a tax extension allowing individuals to make sure theyre maximizing the potential tax benefits of their equity compensation. Underestimating your taxes can lead to penalties and interest, while overestimating will result in a refund.

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What are the Tax Brackets and Federal Income Tax Rates for the 2025-2026 Tax Year?

WiserAdvisor

However, the refundable portion, which is the part you can get back even if you owe no tax, will stay at $1,700 in 2025. If you have kids and meet the income limits, you can potentially take $2,000 off your tax bill per child. Adoption credits: The government also provides tax benefits to parents who wish to adopt kids.

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2025 Financial Planning Checklist

Discipline Funds

Consider consolidating your savings accounts into a T-Bill ladder or simple government money market fund to reduce brain damage and take advantage of the current high interest rate environment. Do so before year-end and plan for next years RMD now. Tax Planning Take advantage of any last minute items that might help your 2024 tax bill.

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Maximize retirement savings by utilizing Net Unrealized Appreciation (NUA)

Nationwide Financial

However, the NUA is not taxed as ordinary income at the time of distribution but rather as long-term capital gains when eventually sold, which can offer significant tax advantages. What are the rules governing NUA? Any increase in the stock’s value after the date of distribution from the plan will receive a step-up in basis.

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Tax Court Rules $2 Million Bequest to Spouse Isn’t QTIP

Wealth Management

The MCC Trust agreement contains provisions governing the terms of contributions to the trust: 3.1 During the term of the trust, the Beneficiary shall have the right to make withdrawals with respect to Contributions made to the trust in accordance with the following: Related: How to Help Women With Blended Family Estate Plans A.

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