Relocating a business headquarters to another state can be a strategic move, offering benefits such as lower tax burdens, reduced operational costs, and access to a more favorable business climate. However, while the financial incentives may seem appealing, companies must navigate a complex web of ...
High Net Worth
On November 7th, 2024, the IRS released Form 15620 as the standardized form for taxpayers making the Section 83(b) election. This election allows taxpayers to pay taxes on the fair market value (FMV) of certain property, such as restricted stock and options, received in connection with the ...
Family offices (FOs) continue to expand across the globe: according to Deloitte, there will be 10,720 FOs by 2030. Given this rapid growth, there has been interest in FOs’ investment and operational strategies. Several recent studies have forecasted the future of FOs’ tactics, and have found a ...
A Section 83(b) Election is a provision in the Internal Revenue Code that allows taxpayers who receive restricted stock or other property subject to vesting, such as stock options or restricted stock units, to elect and include the fair market value (FMV) of the property at the time it was granted ...
Many high net worth individuals are increasingly flocking to states like Florida or Nevada due to their lack of a state income tax. However, under the provisions of IRC Sec. 933, a move to a U.S. territory, like Puerto Rico, may offer even more lucrative tax incentives than a zero income tax state. ...
It is important for older individuals and retirees to be mindful of potential tax advantages that can help optimize their financial situations. There are various tax strategies that retirees can take advantage of. One common tax strategy is the Qualified Charitable Distribution (QCD).
In a rapidly changing financial landscape, Americans are flocking to fixed-income investments, attracted by the promise of higher returns. However, the excitement of increased earnings is often overshadowed by unexpected tax bills. Investors have poured a large chunk of their savings into ...
Taxpayers can authorize a third-party representative to work with the IRS on their behalf. Sometimes this person is an unpaid family member or friend, and sometimes this is a tax professional hired by the taxpayer. Different types of representatives need different authorizations before they can ...
Reforms to the tax treatment of carried (profits) interest has been a topic for many years. The Administration aims to ensure equal treatment of labor and capital income since the character of the income for carried (profits) interests has been under scrutiny.
The main question we hear from small business owners is how they can find more ways to reduce their taxable income. A solo 401(k) offers itself as an attractive option when compared to other retirement accounts available. What makes these plans so appealing is their ability to encourage saving for ...