Compared with other forms of compensation, incentive stock options (ISOs) can provide executives and other employees with substantial tax breaks. If held for a certain period of time, shares purchased as ISOs may escape all taxes other than the relatively low long-term gains rate of 15%. But as many “paper millionaires” discovered during the most… Read More Exercise Caution When Exercising Incentive Stock Options
There are strategies out there that could save you thousands of dollars in taxes, but you probably won’t ever hear about them unless you work with an experienced professional. The Deferred Sales Trust is one of those. It isn’t well known, but it should be. Here’s how it works. We sometimes have clients who own… Read More A Real Estate Exit Strategy That Can Save on Capital Gains Taxes
Preparing a strategy that is both advantageous and tax-efficient might feel daunting at first. Thankfully, there are some things you can do now to keep from overpaying this tax season. Build Your Team of Professionals You might build a team for any number of pursuits, from organizing a baseball team to putting together people to… Read More Tax Strategies for High Earners
You know preparing and saving early is key to reaching your retirement goals—but as someone who makes six figures or more, you might have encountered some roadblocks. High-income earners face several financial hurdles when it comes to preparing for retirement, as their income can actually limit them from utilizing certain tax-advantaged retirement savings strategies. If… Read More High-Income Earners May Have Trouble Saving For Retirement: Your Guide to Overcoming Some Surprising Roadblocks
One of the major problems that occur with preparing for one’s passing and financial distribution is that people frequently leave the matter to the very last minute and then make rushed decisions with bad information. This can cause common mistakes to occur that could be avoided with proper preparation. Every financial professional will be quick… Read More Common Estate Planning Mistakes to Avoid
If you want to add investment real estate to your diversified portfolio, you’re going to want to know what a 1031 Exchange is. While the rules and regulations for this tactic can get complicated, understanding the basic concepts will help you decide if this strategy is right for you. Let’s look at what a 1031… Read More What is a 1031 Exchange?
As an executive, it’s likely that you’re feeling pressure to put together an estate plan. Because of the unique way you may be compensated as an executive, there are details to identify that not everyone else needs to focus on. Your accumulation of assets is more than likely in a variety of contexts, including real… Read More Estate Planning for Executives
Tax season is officially here. If you haven’t already done so, now is the time to get prepared. Whether you meet with a tax professional or prepare your taxes yourself, proper planning helps the processes go more smoothly and may reduce the risk of costly errors. Check out the tips below and prepare to tackle… Read More Your 2024 Tax Season To-Do List
Keith Weiss CFP® 