As a #FinancialAdvisor, when a client is selling their business, consider guiding them towards a #DonorAdvisedFund to minimize tax impacts and maximize philanthropic contributions. Our blog explains: https://bit.ly/44TwuSP
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"Maximizing Your Wealth: Smart Tax Strategies for Selling Your Business" When the time comes to sell your business, tax considerations are paramount. To minimize the fiscal impact, explore various strategies that allow you to preserve more wealth for your future and your philanthropic endeavors. 1 Begin by transferring assets over time to utilize annual gift exclusions, setting the stage for tax-efficient succession. 2 An installment sale can provide a solution to spread out income and tax liabilities over several years, potentially keeping you in a lower tax bracket. 3 Investing in Opportunity Zones may present attractive tax-deferred prospects, as these vehicles cater to areas in need of economic boost while offering tax incentives for reinvested capital gains. 4 Consider the Charitable Remainder Trust (CRT), which allows for the donation of your business interests to charity, bypassing capital gains taxes, and securing an income stream with tax deductions. This irreversible decision underscores your commitment to charitable giving. While these methods offer a glimpse into tax-reduction possibilities, they're subject to changing laws and regulations. Therefore, maintaining a dialogue with trusted financial advisors to navigate the latest tax-saving opportunities is essential. Engage with experts to ensure your exit strategy is both financially sound and socially impactful. Schedule an initial consultation today. #WealthManagement #VirtualFamilyOffice #FamilyOffice #BusinessOwner #Retirement #SellingMyBusiness #TaxMitigation #CRT #RiskManagement JN Private Wealth Management, LLC ("the Firm”) is an SEC registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. The Firm can only transact in those states in which it is registered or qualifies for an exemption or exclusion from registration requirements. JN Private Wealth Management does not provide legal or tax advice. The content provided here should not be considered personalized financial advice.
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Financial advisors and charitable-minded clients can tap into tax savings through donor-advised funds when balancing portfolios, making regular gifts and after windfalls, according to an expert. Here are the key takeaways for advisors from a presentation at Future Proof by Adam Nash, the former Wealthfront CEO who’s now CEO of donor-advised funds service Daffy. #financialplanning #tax #charitablegiving #futureproof
3 client scenarios that highlight tax advantages of donor-advised funds
financial-planning.com
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While the end of tax season may be a great time for your accountant to take a much-deserved vacation, it’s hardly the time for the rest of us to quit thinking about taxes. In fact, this is the best time to begin thinking about them. We have the rest of the year to set ourselves up for the best outcome when it’s time to file again in 2025. Do you own a business? Would you like to sell a business? Or buy a business? Do you plan to retire? Would you like to give to charity? Would you like to hold onto every last dollar and give zip to charity? Did you invest in stocks? Do you own real estate? Every single one of those questions plays into the big question: How much will you owe in taxes? My partners and I at Planning Network Partners are focused on helping you manage your wealth, meet your needs, fulfill your goals, and create the retirement and legacy you desire. It may surprise you that a big part of how we do that, is through deferring and minimizing your tax burden. We do this through tools like Opportunity Zone investments, 1031 Exchanges, Deferred Sales Trusts, Stock Loss Harvesting, And Charitable Planning. If you own a business, we’re concerned with your corporate structure, your company’s 401(k) plans, whether or not you hire your kids, and how you manage risks. We look at the whole picture and we always keep our eye on the tax burden. What’s more, we’re not going to charge you a fee based on what you saved in taxes. Tax planning isn’t where we make our money. But it can be a significant source of savings for you. Can we help you? DM me or click on the Book an appointment link, and we can talk about it. #planningnetworkpartners #estateplanning #wealthmanagement #legacyplanning #estateplanning #taxes
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#FinancialAdvisors, #CPAs, and attorneys, by joining forces, create a powerful team that ensures clients maximize their charitable giving. Their united expertise shapes a comprehensive plan, ensuring financial, tax, and legal goals aligns with philanthropic aims and amplifies charitable outcomes: https://bit.ly/3L7y8bt
Why cross-industry collaboration is essential for financial advisors | Ren
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As 2023 wraps up, consider smart tax moves like Roth IRA conversions & charitable donations. Converting to a Roth IRA can mean tax-free withdrawals later. Plus, donating appreciated stocks to charity = no capital gains tax! 🎁
Maximizing Your 2023 Year-End Tax Planning Benefits
forbes.com
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As 2023 wraps up, consider smart tax moves like Roth IRA conversions & charitable donations. Converting to a Roth IRA can mean tax-free withdrawals later. Plus, donating appreciated stocks to charity = no capital gains tax! 🎁
Maximizing Your 2023 Year-End Tax Planning Benefits
forbes.com
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As 2023 wraps up, consider smart tax moves like Roth IRA conversions & charitable donations. Converting to a Roth IRA can mean tax-free withdrawals later. Plus, donating appreciated stocks to charity = no capital gains tax! 🎁
Maximizing Your 2023 Year-End Tax Planning Benefits
forbes.com
To view or add a comment, sign in
-
As 2023 wraps up, consider smart tax moves like Roth IRA conversions & charitable donations. Converting to a Roth IRA can mean tax-free withdrawals later. Plus, donating appreciated stocks to charity = no capital gains tax! 🎁
Maximizing Your 2023 Year-End Tax Planning Benefits
forbes.com
To view or add a comment, sign in
-
As 2023 wraps up, consider smart tax moves like Roth IRA conversions & charitable donations. Converting to a Roth IRA can mean tax-free withdrawals later. Plus, donating appreciated stocks to charity = no capital gains tax! 🎁
Maximizing Your 2023 Year-End Tax Planning Benefits
forbes.com
To view or add a comment, sign in
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