Integrity Financial Planning

JUNE 12, 2023

As you plan for retirement, it’s important to consider tax optimization strategies to minimize your tax liabilities. Here are three key ways to optimize taxes in retirement, based on information from sources published between 2022 and 2023.

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Integrity Financial Planning

FEBRUARY 3, 2023

With the new year in full swing, tax season is just around the corner. Filing federal income taxes can be a long and complicated process, and mistakes are bound to happen here and there. As many of us know, these small mistakes can cost you big in tax returns and penalties. Is the Standard Deduction Right for You?

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Integrity Financial Planning

FEBRUARY 26, 2023

Tax season is fast approaching, so you may find yourself with some important tax questions. This article will cover some of the pitfalls of this process to make sure that you get the most out of your taxes this year. It’s best to be patient and ensure that you have all the documents that you need for submitting your taxes. [1]

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Harness Wealth

MARCH 5, 2024

Tax advisors, and other tax professionals , offer services from preparing and filing annual tax returns to comprehensive tax strategies that help minimize taxes and preserve wealth over time. In this guide, we’ll explore the average fees of tax advisors in the US for 2024.

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Wealth Management

DECEMBER 19, 2022

Kenneth Griffin claims the agency violated his right to privacy.

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Carson Wealth

JANUARY 25, 2023

Mike Valenti, CPA, CFP ® , Director of Tax Planning Tom Fridrich, JD, CLU, ChFC ® , Senior Wealth Planner It’s January, so it’s officially tax season! One of the most common client questions heard by tax preparers is, “So, what do you need from me?” This can result in additional tax owed, plus penalties and interest.

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FMG

FEBRUARY 20, 2024

For advisors, there’s one season out of the year that creates a buzz and is the perfect time to boost engagement: tax season. Why Tax Season is Great for Engagement Tax season is a hectic time for people because they want to ensure their taxes are done right. 5 Tips to Engage Prospects During Tax Season 1.

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Integrity Financial Planning

NOVEMBER 7, 2022

Using a strategy called tax-loss harvesting, you can earn capital gains tax credits on your investment losses. What is Tax-Loss Harvesting? It’s crucial to know that tax-loss harvesting only defers your capital gains taxes; it does not eliminate them. When is the Right Time for Tax-Loss Harvesting?

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eMoney Advisor

APRIL 11, 2023

Financial planning and tax planning go hand in hand. Including tax planning as part of your service provides clients a comprehensive view of their finances and helps them achieve their financial goals. Start with Document Sharing The first step is to ask your clients to share their tax documents with you.

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Fortune Financial

JULY 28, 2022

When you transfer most assets to a taxable account, there will be income tax, but with company stock, you can take advantage of net unrealized appreciation (NUA). . However, the tax deferral benefit comes at a cost tradeoff. Almost every dollar distributed from a pretax retirement account will be taxed at ordinary income tax rates.

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Your Richest Life

JUNE 30, 2023

If you were surprised at tax time this year, then you’re not alone. 2022 tax refunds were about 10 percent smaller than they were last year, and for those who owed money, they tended to owe more than they expected. Taking the time now to make some strategic moves can lead to some significant savings on your taxes for the year.

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Harness Wealth

FEBRUARY 20, 2024

In this guide, we explore the four main types of tax professionals and the benefits of working with a tax advisor to help navigate challenging tax scenarios. We’ll dive into what a tax advisor does, and help you make an informed decision about which type of tax professional is right for you.

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James Hendries

JULY 13, 2023

The Family Business Survey 2023 highlights the most pressing concerns of these enterprises, with high personal tax levels emerging as a top worry for America’s largest private employers. High Persona Tax Levels: A Barrier To Growth Family-owned businesses are crucial to the American economy.

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James Hendries

JANUARY 22, 2023

Regardless of whether you prepare your taxes yourself or use a professional’s services, it’s a good idea to gather the information and documentation you need well in advance of your actual tax filing date. Below, we’ve listed some key information you need when preparing this year’s taxes.

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Carson Wealth

DECEMBER 28, 2022

While everyone has different financial goals and objectives, one smart strategy can be to reap the benefits of tax-advantaged accounts to help mitigate your tax burden, whether for today or down the road. What Are Tax-Advantaged Accounts? . There are two types of tax-advantaged accounts: . Tax-Deferred Accounts .

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Ballast Advisors

NOVEMBER 27, 2023

Here are some things to consider as you weigh potential tax moves between now and the end of the year. Defer income to next year Consider opportunities to defer income to 2024, particularly if you think you may be in a lower tax bracket then. Doing so may enable you to postpone payment of tax on the income until next year.

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Trade Brains

JANUARY 2, 2024

What are some Tax Benefits of AIFs? In simple terms, capital gains tax applies to profits or losses made from the fund. The post Alternative Investment Fund – Meaning, Types & Tax Benefits appeared first on Trade Brains. AIFs must be registered under SEBI (Alternative Investment Fund) Regulations, 2012.

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Trade Brains

DECEMBER 31, 2023

Tax Loss Harvesting : As an investor, you earn capital gains irrespective of the asset you invest in. While you trade or invest a significant amount of capital and receive good returns, there comes a time when you start worrying about the taxes on those gains. It is called Tax Loss Harvesting. How are Capital Gains Taxed?

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Harness Wealth

MARCH 29, 2023

Below are some insights from Richard Morris, Executive Vice President and Director of Tax Services, and Alex Seleznev, Senior Investment Advisor and Chief Operating Officer of MBI, LLC. And depending on your specific tax situation, you may be paying between 15% and 20% or even more in capital gain taxes.

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MazumaBusinessAccounting

MARCH 27, 2023

Mazuma launched recent updates to our client Dash to help you easily track the progress of your taxes and streamline communication with our team. Now, you can view the status of your books and taxes all in one place. FAQs Why can’t I see an estimated delivery date for my taxes? What tax documents should I upload?

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The Big Picture

APRIL 11, 2024

And even still, fund fees and taxes remained a major cost element. In 1978, Congress enacted Internal Revenue Code Section 401(k), which allowed tax-deferred savings through a company-administered plan. Lower trading costs, a rampaging bull market, and tax-deferred investing led to millions of new entrants into markets.

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Walkner Condon Financial Advisors

MARCH 16, 2023

As we are now within 30 days of the April 18 tax filing deadline (April 15 falls on a weekend and April 17 is a federal holiday), it is important to begin organizing your documents and creating a plan to file your taxes, if you have not done so already. Filing Late One of the most common mistakes is filing your tax return late.

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XY Planning Network

JANUARY 23, 2023

3 MIN READ Are taxes too taxing? No one likes taxes. Even though I do taxes for a living, I’ll be the first to admit it’s not always easy or simple. Taxes are a hassle at least and a complete nightmare at worst. In my line of work, it’s common practice to request additional information from clients.

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Harness Wealth

MARCH 5, 2024

At Harness, our mission has always been to bring clarity to the tax advisory process, making it more accessible and impactful for everyone involved. Leveraging this new funding, we’re reinventing the tax advisor-client experience from the ground up. Today, we’re proud to enter a new era. Read the full announcement in TechCrunch.

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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.

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Carson Wealth

MAY 30, 2023

By Mike Valenti, CPA, CFP ® , Director, Tax Planning Corporate executives often receive the brunt of the U.S. tax system. Typically, most or all of their income is W-2 income and subject to the higher ordinary tax rates as well as FICA taxes. However, stock compensation, large bonuses, commissions, etc.,

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Ballast Advisors

NOVEMBER 21, 2022

What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Certain tax benefits may be available if you can claim an individual as a dependent. Family tax planning. Filing status and dependents.

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James Hendries

JANUARY 29, 2023

But another common type of identity theft involves the use of someone’s Social Security number to unlawfully intercept their income tax refund. Unfortunately, this fraud often isn’t discovered until the victim tries to file their taxes. Below we discuss some common signs of tax identity theft and how to protect yourself.

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Nationwide Financial

OCTOBER 6, 2022

It should come as no surprise that there are unique tax implications for your client to consider as a remote worker. Your client’s tax rates will be dependent on many factors as a remote worker, including state of residence, where their employer is located, and whether they are located primarily in the US or abroad.

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Harness Wealth

MARCH 17, 2023

If you’d like to learn more about DeFi taxes as it relates to your personal situation, contact a Harness Tax Advisor today. Overview of DeFi Use-Cases and Their Tax Implications Before diving into specific tax implications, it is essential to understand the various DeFi use cases and their potential tax consequences.

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Harness Wealth

FEBRUARY 26, 2023

Cost-saving tax planning can be much more difficult to implement after your company is well-established and has reached the stage where an IPO, merger, or acquisition becomes a likely event. The first three options are pass-through entities, so profits and losses are distributed to the owners who are taxed on them.

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Investing Caffeine

MARCH 1, 2024

Tax Time April is fast approaching, which means it’s that time of the year when Uncle Sam will come knocking on your door with your tax bill. Perhaps your taxes have already been prepaid and a refund is coming your way. www.Sidoxia.com Wade W. Slome, CFA, CFP® Plan. Please read disclosure language on IC Contact page.

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Harness Wealth

AUGUST 17, 2023

In this guide, we’ll dive into all these vital aspects, and outline how Harness Tax can further facilitate your growth and marketing efforts. Table of Contents Understanding Client Ownership and Ethics Can You Take Clients With You When Leaving a Tax Firm? Can You Take Clients With You When Leaving a Tax Firm?

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Harness Wealth

AUGUST 31, 2023

In this guide, we explore the strategic and financial considerations of building a team for your tax firm, from understanding the hiring process to outlining the unique solutions that Harness Wealth can provide. Deciding Between an Accountant and a Tax Assistant The first hire you might consider adding to your team is another accountant.

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MarketWatch

FEBRUARY 23, 2023

million in tax revenue from legal cannabis sales in the fourth quarter, down from $330.53 The state recorded zero dollars in cultivation tax in the fourth quarter, compared to $40.1 million in cultivation tax in the year-ago quarter. The state recorded zero dollars in cultivation tax in the fourth quarter, compared to $40.1

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Harness Wealth

SEPTEMBER 18, 2023

As the tax industry continues to evolve , the prospect of becoming a solo CPA, or establishing a small tax firm, can be increasingly appealing. In addition, large tax firms have a hierarchical structure that leads to incredible competition, especially as you work towards the partner tier.

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James Hendries

SEPTEMBER 11, 2022

Understanding long-term capital gains taxes when you sell investments. Market downturns could be a good time to adjust your fund portfolio to minimize the tax bite. Taxable accounts you hold longer than a year incur long-term capital gains taxes when you sell investments. Trimming Taxes.

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