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Alternative Investments Explained: What Are They, And How Are They Taxed?

Harness Wealth

Higher Capital Gains Tax Rate: Long-term gains from collectibles are taxed at 28%, higher than the maximum 20% rate for stocks and real estate. Charitable Donations: Donating collectibles to a qualified nonprofit can provide tax deductions based on fair market value. This article is a product of Harness Tax LLC.

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Four ways to pay less taxes on crypto

Harness Wealth

If you want to donate a certain amount to charity over a period of time, a donor-advised fund allows you to take the entire donation as a tax deduction in the first year, but then contribute to the charity over time. The charity just needs to be a registered nonprofit. Additionally, the funds in the account can grow tax-free.

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Using A Testamentary Charitable Remainder Unitrust (T-CRUT) To Give Twice To Both Loved Ones And Charitable Organizations

Nerd's Eye View

This shift has led financial advisors to explore new strategies for mitigating the resulting tax-planning challenges. Under the new law, non-spouse beneficiaries (with few exceptions) must now withdraw the entirety of an inherited IRA within 10 years of the account owner's passing rather than over their own lifetimes. Read More.

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“Legacy IRA” Rollover To A Charitable Gift Annuity: Using This New Tax-Advantaged Opportunity To Help Clients Achieve Charitable And Retirement Goals

Nerd's Eye View

In this guest post, Kathleen Rehl, a semi-retired financial advisor and educator now focusing on her own estate planning considerations, shares her experience with creating her "Legacy IRA" rollover to a Charitable Gift Annuity to support her chosen nonprofits after Congress passed the SECURE 2.0 legislation at the end of 2022.

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Your High-Income Years are Key to Retirement Planning, So Get Stubborn

Carson Wealth

You can begin to establish a strong financial foundation by carefully managing cash flow, contributions, insurance, taxes, debt, and asset allocations during these important years. With this strong foundation, also keep estate planning top of mind. Income tax planning strategies can play an important role.