Harness Wealth

APRIL 4, 2025

This weeks Tax Advisor Weekly covers key updates for financial professionals. We begin with guidance on navigating property tax considerations during business mergers and expansions. In this blog post, well cover key business events that impact property tax and business licenses, along with what you need to consider for each.

Taxes

XY Planning Network

MARCH 3, 2025

Tax season is here, and it's crucial to be aware of the latest updates for 2024 to ensure you're compliant and maximize your returns. Tax law is an everchanging beast, with new rules and regulations being introduced every year. Professions are built around them, and the consequences of misreporting them can be hefty taxes from the IRS.

Taxes

Harness Wealth

APRIL 17, 2025

Tax season can be overwhelming, but understanding how to leverage deductions and credits can significantly impact your bottom line. While both mechanisms help reduce what you owe, they operate in fundamentally different ways that affect your final tax bill. And tax law is not static. of your AGI. of your AGI.

Taxes

Harness Wealth

JULY 31, 2025

The IRS updates for 2025 are more than routine adjustments—they mark a turning point for tax professionals navigating an increasingly complex regulatory environment. With major shifts in tax brackets, standard deductions, and digital asset reporting, firms will need to rethink how they serve clients across income levels and asset classes.

Taxes

Harness Wealth

JULY 31, 2025

The potential to eliminate up to $10 million in federal capital gains tax per shareholder isn’t just a tax perk; it’s a meaningful wealth planning lever that can reshape outcomes for you and your family. But capturing the full QSBS tax benefit requires more than meeting the basic qualifications.

Taxes

Harness Wealth

JANUARY 10, 2025

Tax advice is a common topic on social media platforms like TikTok. Influencers promise easy ways to secure tax deductions, simplifying complex ideas into bite-sized claims that gloss over important details in the process. Can Hiring Your Children Help You Save on Taxes? Can You Claim Your Pet as a Tax Write-Off?

Taxes

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. Understanding this distinction is crucial for maximizing your tax benefits effectively.

Taxes

Harness Wealth

MARCH 6, 2025

As is traditional, the 2025 IRS tax filing deadline is April 15th. In this guide, well explore the 2025 tax extension process, the reasons for requesting an extension, and how a tax advisor from Harness can help you. Table of Contents What is a tax extension? Why do I need a tax extension? This is not the case.

Taxes

Harness Wealth

JULY 14, 2025

These alternative investments can offer distinct advantages in the shape of portfolio diversification and the potential for higher returns, but they can come with equally distinct tax complications that need to be carefully planned for. What are the key tax strategies for alternative investments in 2025?

Taxes

Harness Wealth

AUGUST 1, 2025

These less intense periods are important windows that allow your tax firm to evaluate its performance and efficiency, and implement improvements that will not only prepare you better for next year’s peak seasons but pave the way for wider growth in general. Importantly, OCR isn’t a technology that will replace your team members.

Taxes

Harness Wealth

MARCH 6, 2025

Freelancers and contractors may enjoy greater flexibility and independence than full-time employees, however, this autonomy brings increased tax responsibility. Unlike W-2 employees, freelancers and independent contractors are responsible for managing their own tax obligations, which can be a complex process.

Taxes

Harness Wealth

JUNE 27, 2025

Interested in using Harness at your tax firm, or know a tax firm you’d like to refer to Harness? What does it really take to build a future-ready tax firm? Generally, most state individual and corporate income tax changes take effect on January 1, the beginning of the calendar year, for consistency through the tax year.

Taxes

Nerd's Eye View

JANUARY 6, 2025

This month's edition kicks off with the news that Orion, the "all-in-one" advisor technology platform, has acquired Summit Wealth Systems (and its founder Reed Colley, who previously built performance reporting platform Black Diamond), a client portal and data hub for unifying key client information from multiple sources into a single client-friendly (..)

Startup

Harness Wealth

APRIL 30, 2025

Without proper planning, taxes can unexpectedly take a large bite out of the proceeds, potentially reducing financial security and the legacy. When you understand various exit strategies and their tax implications early, you position yourself to make informed decisions that maximize after-tax value while ensuring a smooth transition.

Taxes

Harness Wealth

NOVEMBER 12, 2024

As the year comes to a close, now is the time to review potential financial moves to help minimize your tax burden heading into 2025. Proactive year-end tax planning can lead to significant savings and set you up for financial success in the new year. Find your next tax advisor at Harness today. Starting at $2,500.

Tax Planning

Harness Wealth

JANUARY 29, 2025

Tax-loss harvesting is a powerful strategy that investors can use to reduce their taxable income. As effective as tax-loss harvesting can be, there are a number of important details that investors need to be aware of in order to implement the strategy successfully while following regulations. How does tax-loss harvesting work?

Taxes

Your Richest Life

MARCH 12, 2025

The tax deadline is next month, and if youre like most Americans, you are still preparing to file. Standard and Itemized Deduction for filing 2024 Taxes For the 2024 tax year, the standard deduction increased to $29,200 for married filing jointly, $14,600 for single filers and married filing separately, and $21,900 for heads of household.

Taxes

Yardley Wealth Management

FEBRUARY 4, 2025

The post Tax Strategies for High-Income Earners 2025 appeared first on Yardley Wealth Management, LLC. Tax Strategies for High-Income Earners in 2025. In this comprehensive guide, we’ll explore proven strategies to help you minimize tax liability while staying compliant with current regulations.

Taxes

Harness Wealth

MARCH 14, 2025

For many small tax firms, the process of collecting client tax documents can be a time-consuming and a prolonged process. The good news is that technology solutions, like Harness, can streamline document collection and transform the way tax professionals work. Client experience is another area where manual processes fall short.

Taxes

MainStreet Financial Planning

MARCH 7, 2025

Tax season can feel overwhelming, whether you’re filing for the first time or you’ve been doing it for years. Should you tackle your taxes on your own, or is it time to bring in a professional? Lets explore the pros and cons of DIY tax preparation and when seeking expert help might be the right move.

Taxes

Harness Wealth

MARCH 7, 2025

This weeks Tax Advisor news roundup covers key updates for financial professionals. Last but not least, we have a rundown of the IRSs ‘Dirty Dozen’ tax scams for 2025. Wealth Taxes in Europe, 2025 ( Cristina Enache , Tax Foundation) Net wealth taxes are recurrent taxes on an individuals wealth, net of debt.

Taxes

Harness Wealth

APRIL 17, 2025

Donor-advised funds (DAFs) have emerged as powerful tools that deliver this exact combination, providing immediate tax advantages while offering flexibility to recommend grants to qualified organizations over time. DAFs also introduce welcome simplification at tax time by consolidating multiple charitable activities under a single receipt.

Taxes

Harness Wealth

APRIL 30, 2025

This article will explore how to navigate complex tax situations arising from multiple income sources, examining various income types, reporting requirements, self-employment obligations, and strategic approaches to record-keeping and tax planning that can help protect your financial interests. What is an RSU?

Taxes

Zoe Financial

JANUARY 28, 2025

Disclosure: This material provided by Zoe Financial is for informational purposes only. Nothing in these materials is intended to serve as personalized tax and/or investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Economies and markets fluctuate.

Marketing

Harness Wealth

MARCH 27, 2025

As dynamic as the secondary market may be, secondaries come with complex tax implications that can significantly impact returns if not properly managed. What are the tax implications of secondary transactions? What are the tax challenges in secondary transactions? What tax strategies optimize secondary investments?

Taxes

Harness Wealth

JANUARY 29, 2025

April 15 marks the IRS tax return filing deadline for 2025. Although this is the traditional tax filing deadline, given the spate of recent natural disasters (such as the California wildfires and Hurricane Milton), the IRS is granting certain filing and payment extensions beyond this date.

Taxes

Clever Girl Finance

DECEMBER 23, 2024

As a freelancer, you juggle not only your craft but also your finances, taxes, and retirement planning. Plan for taxes ahead of time 4. Plan for taxes ahead of time Freelancers dont have taxes withheld, so its up to you to plan ahead for things like income tax and self-employment tax. Plan for retirement 5.

Budgeting

Nerd's Eye View

APRIL 8, 2025

What's unique about Seth, though, is how he has created what he calls an "input deliverable" that allows him to demonstrate value more tangibly to his ideal prospects by helping them solve a key tax planning pain point… but without the time-consuming busywork of having to create a separate output for each individual client household.

Financial Planning

Harness Wealth

JULY 31, 2025

The tax environment that surrounds startup share transactions, however, is a notoriously complex one. Trading startup shares presents far more challenges than dealing in publicly traded stocks, as a historic lack of clarity can leave many investors feeling unsure of their tax position. Table of Contents What are startup shares?

Startup

Don Connelly & Associates

DECEMBER 16, 2024

Whether planning for retirement, investing in volatile markets, or managing tax implications, clients are often presented with intricate information that can leave them overwhelmed, confused, and anxious, undermining their ability to make informed decisions.

Communication

Darrow Wealth Management

FEBRUARY 9, 2025

So historically, every $1 million invested would yield annual dividend income of $19,800 on average… before tax. If you own 10,000 shares, you receive $40,000 in dividend income (before taxes) and have a portfolio currently worth $2M. If qualified, the IRS uses more favorable long-term capital gains tax rates.

Retirement

Nerd's Eye View

JANUARY 24, 2025

Nonetheless, given the scale and brand awareness of the wirehouses, and as their own use of fee-based models increases (as opposed to primarily relying on commissions from selling products), competition for clients (and advisors) will likely remain stiff going forward, even amidst the favorable trends for RIAs Also in industry news this week: A recent (..)

Financial Planner

Cornerstone Financial Advisory

NOVEMBER 25, 2024

The content is developed from sources believed to be providing accurate information. Companies mentioned are for informational purposes only. Food for Thought… “Keep some room in your heart for the unimaginable.” – Mary Oliver Tax Tip… Did You Know That You Have the Right to Challenge the IRS?

Marketing

Harness Wealth

AUGUST 5, 2025

Of all the variables involved in the client/tax advisor relationship, one of the seemingly simplest, yet surprisingly time-consuming, is the creation and management of engagement letters. Table of Contents What are the challenges in the traditional tax engagement letter process?

Taxes

Carson Wealth

FEBRUARY 6, 2025

Every year brings changes in tax rules, and 2025 is no exception. Staying informed about these tax updates isn’t just about being prepared for tax seasonit’s about making smart money moves all year long. For married couples, this means more of your income will be taxed at lower rates.

Taxes

Harness Wealth

JULY 31, 2025

Managing multi-state tax clients is no longer a niche issue—it’s a defining challenge of modern tax practice. As businesses expand across borders and remote work redefines physical presence, tax professionals are expected to navigate a patchwork of state rules that rarely align.

Taxes

Harness Wealth

DECEMBER 30, 2024

However, as appealing as these forms of compensation may be, they can result in sizable and unexpected tax bills. Along with the 83(b) election, there is a less well-known provisionthe 83(i) election that offers other tax advantages to certain types of employees. Table of Contents What is an 83(i) election?

Taxes