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

WiserAdvisor

JULY 2, 2025

This upward trend is expected to continue, with PwC projecting an 8% annual rise in medical costs for the Group market and 7.5% They help with a variety of complex decisions, including Medicare for long-term care and unexpected medical needs. Part D (Prescription Drug Coverage): Covers prescription medications. vision, dental).

Healthcare

Harness Wealth

MARCH 14, 2025

This edition of the Tax Advisor Weekly covers key updates for financial professionals. To round things out, we provide a refresher on the most common tax return mistakes to watch for this season. Citizens, Businesses ( Martha Waggoner , The Tax Adviser) U.S. Property taxes accounted for 70.2 You can find it here.

Taxes

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

WiserAdvisor

JULY 4, 2025

Did you know that the Internal Revenue Service (IRS) adjusts 2025 tax brackets to account for inflation? These changes can affect how much tax you owe and whether you are eligible for certain tax credits or deductions. Alternative Minimum Tax (AMT) Alternative Minimum Tax (AMT) exemption phaseout thresholds d.

Taxes

Trade Brains

JULY 9, 2025

Healthcare Inflation: The Hidden Wildcard Unlike consumer goods, medical inflation in India runs 12–14% annually , the highest in Asia. That means if your retirement plan underestimates medical costs, you risk serious shortfalls. Use tax-efficient tools like NPS, ELSS, PPF for compounding and tax savings.

Retirement Planning

Harness Wealth

FEBRUARY 5, 2025

The rise of remote work and digital nomadism has made FEIE a common tax minimization strategy for Americans living abroad. What is the Foreign Tax Credit (FTC)? Financial and lifestyle considerations of living abroad The importance of professional tax advice for expats FAQs about the FEIE What is the Foreign Earned Income Exclusion?

Taxes

WiserAdvisor

JUNE 13, 2025

It can also help reduce taxes and make life easier for your family during difficult times. A qualified local attorney can help you create a plan that honors your wishes and minimizes taxes. Of those, 80% used their savings to cover basic expenses such as bills, repairs, and medical costs. Yet, many people put it off. The result?

Estate Planning

Harness Wealth

APRIL 30, 2025

In this article, well examine the nature of IRS audits, the common audit red flags that result in IRS scrutiny, and how professional tax advisors can help reduce the risk of you being audited. An IRS audit is a formal review of your financial records to verify their accuracy and compliance with tax laws.

Compliance

International College of Financial Planning

MARCH 12, 2025

Why This Is a Problem: When an actual emergency (job loss, medical expense) hits, you dont want to rely on credit cards or loans with sky-high interest rates. Understand taxes: Capital gains, dividend taxes, and exit loads can eat into your returnsplan accordingly.

Financial Planning

Workable Wealth

NOVEMBER 11, 2020

While a guardian cares for the children’s wellbeing, a trustee handles the finances like taxes and inheritance. Financial Power of Attorney This gives someone the ability to handle financial matters on your behalf like settling debts, paying taxes, and more. Pre-tax contributions lower your taxable income and boost future savings.

Estate Planning

Harness Wealth

MAY 2, 2025

The Tax Cuts and Jobs Act (TCJA)the 2017 tax code overhaul designed to boost economic growthis set to expire on December 31, 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.

Taxes

Yardley Wealth Management

NOVEMBER 12, 2024

Build an Emergency Fund An emergency fund acts as a financial buffer to cover unexpected expenses like medical bills, sudden job loss, or urgent home repairs. Start saving early by contributing to tax-advantaged accounts like 529 Plans or Coverdell Education Savings Accounts (ESAs). For families, this safety net is invaluable.

Financial Planning

Wealth Management

JULY 31, 2025

Derek Fitteron July 31, 2025 3 Min Read For wealthy families with complex financial lives, protection often starts with trusts, estate plans, and tax-optimized investment strategies. Here’s how advisors can close the gap. But one critical area is still routinely overlooked: health insurance.

Insurance

Zoe Financial

JUNE 20, 2025

Getting Started: What First-Time Planners Should Know Even for seasoned investors, key decisions around taxes, estate structure, and long-term income planning can carry significant implications. She wants to minimize taxes while aligning her legacy with charitable values.

Retirement Planning

Workable Wealth

OCTOBER 14, 2020

This could come in many forms: Negative spending habits Little to no emergency fund Inadequate investment vehicles Improper risk management and insurance coverage Making emotional financial decisions Overpaying on taxes Acquiring unnecessary debt Incurring penalties and fees Let’s look at a few of these examples more in-depth. Tax Planning.

Financial Planning

The Big Picture

JULY 1, 2025

And in Bulgaria where I came from, getting a medical degree meant that after high school, you go to medical school for five years, Barry Ritholtz : No college, high school right to medical school. Then I have to apply to medical school, then I have to go to residency. So I arrived at Wellesley with the plan to do pre-med.

Investments

WiserAdvisor

JUNE 24, 2025

Whether it is a job loss or a medical emergency, the fund acts like a safety net, so you do not have to rely on high-interest debt. But some withdrawals come with tax penalties, and others could severely impact your long-term financial health. They can come up with a more tax-efficient way to access your assets.

Financial Advisor

Zajac Group

NOVEMBER 7, 2024

One of the most important aspects of developing a thorough estate plan is tax planning, as this has the potential to diminish the impact of your gifts and your loved ones’ inheritances. Let’s take a look at the tax impact and other considerations of each. million before triggering federal estate taxes).

Planning

Random Roger's Retirement Planning

JANUARY 6, 2025

An even tougher one, if you have medical issues, how expensive are they likely to be? I understand the difficulty of that one but if you're 50, overweight and taking a half dozen medications, you should plan on health stuff being very expensive. What's the risk to Social Security income?

Retirement

Random Roger's Retirement Planning

MARCH 15, 2025

The example assumes no sort of serious medical or family calamity that altered your financial plan, life happens that way sometimes. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation.

Portfolio

Trade Brains

JUNE 14, 2025

They have a wide touchpoint network and SaaS products like payroll and tax software in their portfolio. The company’s portfolio includes over 50 medications that address a variety of cancer disorders, such as breast, brain, bone, and others. With a net profit CAGR of 50.75 percent as compared to the previous closing price.

Medicine

WiserAdvisor

AUGUST 13, 2025

They offer services such as tax planning, retirement strategies, estate planning, budgeting, saving, investing, and debt management. They can help you figure out how to draw money from your 401(k), Individual Retirement Account (IRA), and any other savings you have without running out too early or getting hit with unnecessary taxes.

Financial Advisor

Carson Wealth

DECEMBER 10, 2024

With careful planning, you may be able to reduce your tax bill or optimize the impact of your estate. For example, if you have a family history of cancer, you might decide to donate to medical research. Whether the structure you decide on is simple or complex, be sure to discuss the tax implications with your tax or financial advisor.

Taxes

Random Roger's Retirement Planning

FEBRUARY 5, 2025

If you have a lot of consumer debt, and assuming no sort of horrible medical event you're paying for, then sorry, you're living beyond your means. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation.

Retirement

Yardley Wealth Management

JULY 22, 2025

After some initial work, a tax, legal, or accounting professional can start to explain any future tax implications. If you are considering a position with a sign-on bonus, we would encourage you to speak with your tax, legal, and accounting professionals. Being offered equity can be a terrific perk.

Healthcare

Workable Wealth

MARCH 18, 2020

Usually, you have a few options for how you want to use your old 401(k) when making this transition: You can leave your 401(k) alone, stop contributing, and let the funds continue to grow tax-deferred. If you choose to roll it to a Roth IRA, you will have to pay income tax on the funds that you roll over. of your annual gross income.

Risk Tolerance

Random Roger's Retirement Planning

JANUARY 18, 2025

Oddly, Barron's included some industry funds in their discussion of thematic funds and mentioned some that have done very well including iShares Medical Devices (IHI) which I've owned for clients for 12 or 13 years. I guess it could be a theme but is also allowed for avoiding heavy exposure to domestic pharma.

Advertising

The Big Picture

JANUARY 21, 2025

And they are at the point where, you know, if I give my kids $19,000 this year under the gift tax exclusion, which is the sum you can give without how filing a gift tax return, that money to them in their thirties is so much more valuable than it is to me in my sixties. So what do you discuss with your wife and kids about taxes?

Investments

WiserAdvisor

JULY 7, 2025

However, when it comes to taxes, the two main ones you need to know about are Traditional and Roth. The rules around withdrawals and tax treatment are very different for each. These withdrawals are taxed as regular income. But withdrawals from a Roth IRA are not taxed, as it is funded with money you have already paid taxes on.

Planning

Mr. Money Mustache

FEBRUARY 25, 2025

AI can also drive cars, identify melanoma from photographs of your skin, design medications thousands of times better than what were used to, and even bring humanoid robot bodies to life as mechanical workers.

Marketing

Harness Wealth

MARCH 20, 2025

With over 22 million Americans working remotely , understanding the tax deductions available for home offices is more relevant than ever. The eligibility criteria and rules surrounding home office tax deductions for remote workers are far from straightforward, however. Table of Contents Am I eligible for home office tax deductions?

License

Carson Wealth

DECEMBER 17, 2024

Structuring your giving carefully can help lower your tax bill and maximize the impact of your gifts. Causes can be humanitarian, scientific, medical, literary, artistic, historical, environmental, educational, tech-oriented, etc. The Internal Revenue Service (IRS) has an estate and gift tax exemption of $13.61

Estate Planning

Cornerstone Financial Advisory

MARCH 14, 2025

End-of-Life Care: Specify medical directives consistent with Christian principles. Estate Tax Planning: Explore tax-efficient strategies that support your goals. This approach enables you to give to causes as an obedient steward while also taking advantage of any applicable tax benefits.

Estate Planning

WiserAdvisor

JUNE 11, 2025

Tariffs are a type of tax imposed on imported goods and services by the government. While some major expenses in your 40s and 50s, like your mortgage, property taxes, and insurance premiums, are tied to domestic conditions and may not be directly impacted by tariffs, others could rise significantly.

Budgeting

Harness Wealth

JULY 31, 2025

The Tax Cuts and Jobs Act of 2017 , which temporarily doubled estate and gift tax exemptions, is hurtling toward its expiration date of December 31, 2025. Many high-net-worth families underestimate the implications of the upcoming changes , which could expose substantial family wealth to a 40 percent federal tax rate.

Estate Planning

Workable Wealth

MARCH 4, 2020

This retirement savings vehicle is perfect for small business owners or freelancers who are looking for a tax-efficient way to start saving. If you have a Schedule C for tax filing purposes, start here. Taxes All contributions made to a SEP IRA are pre-tax. Medical expenses that are non-reimbursed, and total over 7.5%

Retirement