Articles

April 2022: What’s new in Harness Wealth?

We’ve been listening to your feedback on how we can improve Harness Tools since we launched in beta last year. Based on your feedback, we’ve released several improvements and more are coming!

Four ways to pay less taxes on crypto

If you've made crypto investments and are looking to reduce your tax bill, here are some strategies you can employ. Partnering with a crypto tax advisor can help you implement some of these strategies.

How to Manage Equity in a Down Market

You waited patiently for years and now your company is finally public. It’s a really exciting milestone. But what happens after an IPO? Over the past few months, tech stocks have not all performed well. While it’s definitely not the result you were hoping for in the short-term, there are some silver linings to a depressed stock price that you can take advantage of.

startup employees negotiating equity grant

How to Evaluate Your Equity in a New Role

You’ve worked for months to secure the perfect new job — and now you have the offer in hand. One of the most attractive components of the role is the equity. The hiring manager is telling you it’ll be worth a lot, so how do you assess what’s being offered?

The most frequent tax questions about equity compensation, answered

Our 1:1 Equity Tax Planning Sessions are one of the most popular services we offer. It makes sense — these sessions get into the nuts and bolts of your specific tax situation, whether you’ve been through multiple liquidity events or are new to equity entirely. They’re a good fit for anyone trying to understand their current equity holdings and/ or prepare for an upcoming liquidity event.

What is an 83(b) Election?

If you’re a startup founder or a startup employee who received restricted stock, or you’re early exercising stock options, filing an 83(b) election can be a valuable tool to minimize taxes on your equity.

What You Need to Know about Restricted Stock Units (RSUs)

Startups typically issue stock options or restricted stock to employees as part of equity compensation packages. Restricted Stock Units (or RSUs) are a type of restricted stock that tends to be issued by later stage start-ups. If you have RSUs from your company, it’s important to understand how they work, how they are taxed, and what your filing obligations are in order to make sure you are maximizing their value.

Desktop with employee and child looking at Harness Tools personal balance sheet tax savings

Last Minute and Ongoing Tax Tips for 2021 Tax Year

In the few weeks before Tax Day, you can still take some critical actions that can help optimize this year's tax return. Now is also a great time to plan ahead for next year.

What is Alternative Minimum Tax (AMT)?

AMT is a secondary tax calculation that only triggers in certain situations. Working around the alternative minimum tax can be tricky and knowing if you’ll trigger it isn’t always easy. Exercising incentive stock options (ISOs) is one situation where AMT income is greater than regular taxable income, which could trigger AMT.

7 Financial and Tax Planning Optimizations to Complete Before 2022

These are the seven areas of your financial picture that you need to consider optimizing before year end, particularly after yet another tumultuous year.