If you received shares or early exercised stock options in 2020 and filed or still need to file your 83(b), there are some unique circumstances this year to take in to account.
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While the last two months of the year are often focused on holiday preparations and celebrations, there are five areas of your finances that you need to be reviewing in order to reduce your tax burden and maximize your financial gain before the end of the year.
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This can be an exciting time for your organization, but if you’re a manager or HR leader, it likely means you will be facing a wave of questions from employees throughout the event about what it means for their equity and personal finances.
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As a founder or an employee at a company undergoing a SPAC, you should start planning as soon as you're aware the event is on the horizon. The financial impact of this event will not just be an easy windfall -- you'll have to consider the potential costs of exercising options, timing of selling shares, and the resulting tax bill before you can start thinking about how to invest your net proceeds.
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As much as we would like to delay thinking about tax filings, the end of the calendar year is the perfect time to evaluate whether you have the right CPA and get the right one in place. Here are the four reasons why you shouldn't wait.
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A few years ago, in the ideation phase of Harness Wealth, we knew we wanted to create a next generation financial platform for the next generation of builders: founders, early employees, business owners, and investors. I was able to transfer some learnings from the early and late stage developments at Compass to this new context.
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COVID-19 created many unexpected adjustments to working and moving this year. Could these changes result in additional state tax exposure and withholding obligations for individual taxpayers and business owners?
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Founders, board members, and employees of startups that get acquired can experience tax consequences as a result of a liquidity event. It's imperative to plan for the tax implications so you can be prepared to pay what you owe the IRS. And in some cases, you may be able to take steps to reduce the taxes that result from the acquisition, depending on the type of equity you have and the nature of the transaction.
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This guide was created to help Harness Wealth clients understand the consultation process with their recommended firms. As part of your evaluation process, and you should plan ahead for the number of meetings and documents you'll need to prepare for each type of firm consultation, and the factors you'll want to consider in deciding which firm(s) you'd like to move forward with.
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During unprecedented periods of market volatility, emotions can run high when it comes to your investments. It can be unpleasant—indeed it is easy to panic—when the financial goals you’ve spent years working toward—a comfortable retirement or an education fund for your children or grandchildren—may seem to be at risk. COVID-19 is reminding us of that right now!
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