WiserAdvisor

JUNE 27, 2025

Start planning early. It takes strategic foresight, hard numbers, and smart decisions that begin well before your final day at work. Yet far too many professionals delay the planning process. Why it works: You control your tax rate now instead of leaving it to later. And the best way to do that? Doing it right?

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Retirement Planning Retirement Planning Taxes 59

Harness Wealth

MAY 12, 2025

Vermont offers various tax credits such as the Earned Income Tax Credit and credits for property taxes paid. Deductions may include those for medical expenses, charitable contributions, and education costs. Carefully review the eligibility criteria for each deduction and credit to maximize your tax benefits.

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Taxes Electronics Tax Planning Compliance 52

James Hendries

AUGUST 10, 2022

If you make contributions on your own using after-tax dollars, they’re deductible from your federal income tax (and perhaps from your state income tax) whether you itemize or not. Contributions to your HSA, and any interest or earnings, grow tax. High-deductible health plan: self-only coverage.

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Accounting Numbers Taxes Tax Planning 52

Carson Wealth

FEBRUARY 16, 2024

By Mike Valenti, CPA, CFP ® , Director of Tax Planning It’s that time of year again! W-2s, 1099s and mortgage statements have been to hit your mailbox: a daily reminder that it is, once again, Tax Season. Overall, it was a relatively quiet year on the tax front. Although Congress isn’t done yet! More on that later.)

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Integrity Financial Planning

FEBRUARY 3, 2023

Keep reading to learn how you and your family or business can avoid making mistakes this tax season. Confirm Your Numbers Make sure that your filing status, name, and the names and Social Security numbers of your dependents are accurate. Next, let’s face it, not all of us are exceptional when it comes to math.

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Taxes Math Accounting Numbers 82

Workable Wealth

OCTOBER 14, 2020

Overpaying on taxes. Tax Planning. A proactive tax plan can save you thousands of dollars every year. You can accomplish this task in several ways like strategic charitable giving, maxing out your retirement accounts, tax-loss harvesting, and more. But this number isn’t from lack of trying.

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Harness Wealth

OCTOBER 24, 2024

Use this tax prep checklist as a tool to save time ahead of tax filing. Personal Information Social Security Numbers (SSN) or Individual Taxpayer Identification Numbers (ITIN): Needed for you, your spouse, and any dependents for identification purposes by the IRS.

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Harness Wealth

MAY 14, 2025

Also, gather your previous years tax return, as it can provide useful information and help you track carryover deductions or credits. Dont forget to include any receipts or statements related to charitable contributions, medical expenses, and education costs. Another common error is using the wrong tax form or filing status.

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Taxes Tax Planning Medical Consulting 52

Harness Wealth

MAY 17, 2025

This includes W-2 forms from employers, 1099 forms for other income, records of deductions and credits, and any prior year tax returns. It is also helpful to have your Social Security number, Delaware drivers license or ID, and bank account information ready for direct deposit of refunds. Both are valuable tools in tax planning.

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Taxes Tax Planning Electronics Compliance 52

Harness Wealth

MAY 19, 2025

Step 3 – Calculate Deductions and Credits Identify all deductions and credits you qualify for under Minnesota tax law. Common deductions include those for mortgage interest, charitable contributions, and certain medical expenses. These can significantly reduce your tax liability.

Taxes 52

Taxes Tax Planning Compliance Education 52

James Hendries

DECEMBER 11, 2022

It is a time to compile data, review the numbers, evaluate strengths and weaknesses, and determine growth opportunities for the future. Tax Planning – Have necessary steps been taken toward filing required business and individual tax returns, so they get filed on time?

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WiserAdvisor

FEBRUARY 29, 2024

While these numbers may seem abstract at first glance, they highlight a critical point. They help you optimize tax planning Tax planning is an important aspect of financial planning that can significantly impact your long-term wealth accumulation.

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Financial Advisor Retirement Asset Allocation Risk Tolerance 45

Gen Y Planning

DECEMBER 5, 2022

Let’s take a look at 2022 numbers. . Those of you who have access to a Mega Backdoor Roth can get to this $61,000 number so talk to your employer to see if this is an option for you). These numbers don’t include catch-up contributions (an extra $6,500 for those over 50). . Any funds over that number are simply lost.

Taxes 59

Taxes Estate Planning Planning Budgeting 59

Cordant Wealth Partners

AUGUST 16, 2024

Income Typically, Intel offers a certain number of weeks of salary, plus a payout of earned benefits and bonuses as part of a layoff package. Severance pay: Severance at Intel is typically structured as a fixed number of weeks + weeks based on the length of service. Tax planning for a transition out of Intel is critical.

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WiserAdvisor

NOVEMBER 4, 2022

If you are not entirely sure of your spouse’s intentions, it may be better not to file your taxes together. Further, if both spouses have a considerable number of individual tax deductions, it may be advised to file your taxes separately and claim the deductions individually to get a better tax cut.

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Financial Planning Planning Taxes Financial Advisor 93

Harness Wealth

MAY 18, 2025

Also gather any prior year tax returns, as they can provide useful information and help verify your current filing details. Ensure you have your Social Security number, bank account information for direct deposit, and any relevant Ohio tax forms or worksheets. These errors can delay processing and refunds.

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Taxes Compliance Electronics Tax Planning 52

Harness Wealth

MAY 19, 2025

Louisiana offers various tax credits, such as those for child care expenses, education, and earned income, which can reduce your overall tax liability. Similarly, deductions for items like mortgage interest, charitable contributions, and certain medical expenses may be available.

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Taxes Electronics Compliance Consulting 52

Harness Wealth

MAY 2, 2025

Unless Congress intervenes, the TCJAs sunset will usher in a swathe of tax increases in 2026, with analysts estimating that over $4 trillion worth of tax hikes could take effect. tax-paying arena. A number of TCJA provisions are set to revert to pre-TCJA levels or disappear entirely, impacting both individuals and businesses.

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Harness Wealth

MAY 13, 2025

Understanding these can help you optimize your tax return and potentially increase your refund. Tax credits directly reduce the amount of tax owed, while deductions reduce taxable income. Both are valuable tools in tax planning. Itemizing deductions may be beneficial for some taxpayers, depending on their expenses.

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Taxes Electronics Compliance Commission 52

Bell Investment Advisors

JUNE 16, 2022

Start by getting clear on gift and estate tax laws. In 2022, anyone can give any recipient up to $16,000 in assets per year without owing federal gift taxes. Exception: gifts to pay tuition or medical expenses are exempt if paid directly to the institution. million per recipient over a lifetime.

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Taxes Assets Financial Planner Education 52

Cordant Wealth Partners

DECEMBER 2, 2022

Severance (or layoff) packages at Intel have three main components: Income, Medical, and Stock. Typically, Intel offers as part of a layoff package a certain number of weeks of pay plus payout of earned benefits and bonus. Tax planning for a transition out of Intel is critical. For example, 4 weeks + 1.5

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Planning Retirement Taxes Accounting 52

Harness Wealth

MAY 18, 2025

Credits directly reduce the amount of tax owed, while deductions reduce taxable income. Both are valuable tools in effective tax planning and filing. Available Tax Credits One of the most notable credits in Illinois is the Earned Income Credit (EIC), which benefits low to moderate-income working individuals and families.

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Taxes Electronics Tax Planning Compliance 52

Harness Wealth

MAY 18, 2025

Step 3 – Calculate Deductions and Credits Utah offers various deductions and credits that can reduce your taxable income and overall tax liability. Common deductions include those for mortgage interest, charitable donations, and certain medical expenses. Carefully calculating these amounts ensures you maximize your tax benefits.

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Taxes Commission Electronics Compliance 52

Harness Wealth

APRIL 19, 2022

a high demand medical device business) trades at a high multiple. From an estate planning perspective, if assets are down, it might be worth considering a trust, like a Grantor Retained Annuity Trust (GRAT). Typically, a low growth, low margin company (e.g.

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WiserAdvisor

DECEMBER 15, 2023

These professionals also go beyond the numbers and charts and educate you about investing. By helping you lower your tax The impact of proper tax planning on your eventual retirement balance cannot be overstated. Engaging with a skilled financial advisor can empower you to manage your taxes proactively.

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Financial Advisor Retirement Risk Tolerance Retirement Planning 59

Cordant Wealth Partners

SEPTEMBER 9, 2022

Planning opportunities with RSUs: Use RSU income to maximize contributions to other benefits programs. Incorporate tax planning with your RSU vesting schedule to minimize taxes. The money is distributed per a pre-elected distribution schedule, typically either a set number of years (e.g.,

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WiserAdvisor

APRIL 24, 2025

Hence, a better approach is to understand your own numbers, which can be determined based on how much you actually spend each month and how that might change when you stop working. HSAs, in particular, can be used tax-free for qualified medical expenses. These can be medical, family-related, or home-related.

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Cordant Wealth Partners

SEPTEMBER 27, 2021

Planning opportunities with RSUs: Use RSU income to maximize contributions to other benefits programs. Incorporate tax planning with your RSU vesting schedule to minimize taxes. The money is distributed per a pre-elected distribution schedule, typically either a set number of years (e.g., Life Insurance.

Engineering 52

Engineering Taxes Insurance Compensation Planning 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. It’s all your number… How much are you managing it? Okay, how do you come up with that number? Hourly financial advisors are not common.

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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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Taxes Medical Distribution Accounting 98

Random Roger's Retirement Planning

SEPTEMBER 22, 2022

We talk about padding retirement budgets for unbudgetable expenses by $1000/mo or some other number relevant to your circumstance and history with unexpected one-offs. Eating well and exercising effectively provides the opportunity to avoid being vulnerable to rising medical costs by not having to pay for prescriptions.

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Retirement Medical Accounting Taxes 70

Harness Wealth

JUNE 23, 2023

Key Components of an Estate Plan A comprehensive estate plan consists of several key components, including wills and trusts, power of attorney, healthcare directives, and beneficiary designations. million for the 2023 tax year.

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Harness Wealth

MARCH 25, 2025

The demanding work environment of modern healthcare professionals can leave little time to manage the often complex tax arenas that accompany it. The tax deductions that PCPs can claim are similar to most other self-employed medical professionals.

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Medical Taxes Tax Planning Education 52