Building a High-Value Marketplace: Why Harness Wealth Partners with External Advisors

Building a High-Value Marketplace: Why Harness Wealth Partners with External Advisors

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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Cross-state Residency Tax Considerations in 2020: The Impact of COVID-19 Work From Home

Cross-state Residency Tax Considerations in 2020: The Impact of COVID-19 Work From Home

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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Tax Planning for When Your Startup is Acquired

Tax Planning for When Your Startup is Acquired

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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Harness Wealth Firm Consultations: What to Expect and Prepare

Harness Wealth Firm Consultations: What to Expect and Prepare

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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Tax Planning During Stock Market Volatility

Tax Planning During Stock Market Volatility

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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Financial Planning for Employees Before and After IPO

Financial Planning for Employees Before and After IPO

Working for a company that goes public can have life-changing financial consequences. It can also give rise to tax and legal issues that must be addressed proactively to protect and maximize your windfall. 

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Tax Planning for Startup Founders and Employees

Tax Planning for Startup Founders and Employees

While it may seem premature to plan for reducing taxes as you're just getting off the ground, there are a few key tax-related decisions that are worth taking right from the beginning for many startups and their founders, given the high growth potential.

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83(b) Filing Deadline Extension: 2020 COVID-19 Exception for 30-day Window

83(b) Filing Deadline Extension: 2020 COVID-19 Exception for 30-day Window

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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Tax Benefits of a Donor-Advised Fund

Tax Benefits of a Donor-Advised Fund

A donor-advised fund is a great way to manage your charitable giving and save on taxes. You can take a tax deduction immediately when you provide the donation. Then, the donated funds can be invested and grow tax free. Think of it as creating a sort of personal "savings account" from which you can make donations to causes you care about for years to come.

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Diversify Your Portfolio: How Startup Employees Over-invest in Tech

Diversify Your Portfolio: How Startup Employees Over-invest in Tech

Tech as an industry has had major growth in the last few years, and continues to hold strong, even in 2020. However, recent history shows that many tech employees run the very real risk of being too invested in the technology sector. We outline the most common components that make up this overall risk below, and offer some guidance how best to balance your unique risks and opportunities. 

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