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Financial Wellness Employee Benefits for Startups

Amidst layoffs and IPOs in 2020, executive teams and HR leaders are reevaluating their benefits offerings in 2021 with a newly critical eye. Is your company’s employee benefit...

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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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Managing Employees Through a Liquidity Event: How HR Can Help with Equity Decisions

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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SPAC vs. IPO: Valuation, Lockup Period, and Employee Equity

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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Building a High-Value Marketplace: How Harness Wealth Helps Clients Find Advisory Services

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

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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Two startup employees planning their taxes during aquisition

Tax Planning for When Your Startup is Going Through an Acquisition

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

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 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

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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