Optimize your tax practice for efficiency

Good question! Harness Tax is Harness Wealth’s in-house tax firm with affiliate tax teams. It was launched to address unique challenges and gaps that our clients were facing in tax services and specializations.

How it fits into our advisory marketplace: When finding an advisory firm through your Harness Wealth account, our recommendation algorithm takes into account your goals, needs, and financial profile to recommend firms that have services, pricing, etc that are a good fit. Based on your profile, we may recommend a number of firms, including partnering with Harness Tax.

Harness Tax doesn’t receive preferential treatment in our recommendation algorithm, and we encourage you to evaluate them just as you would any other firm on our platform. 

You can read more about our reasons for establishing Harness Tax here.

Harness Tax was established to address unique challenges in the Tax industry for our early employee, founder, and investor clients.

Access to specialty tax services: We found that the vast majority of established tax firms had less flexible business models that made it difficult for clients looking for one-off expert consultations that fell outside of annual filing or ongoing planning services.This is a gap for one of our most popular client needs, which is one-off consultations on equity decisions right before and after a liquidity event.

Tech experience: Our goal from day one has been to build an end-to-end digital platform that made Harness clients’ experience in both discovering and collaborating with advisors seamless. We saw an opportunity on the tax side to begin investing more deeply in the digitization of the tax workflow to create that experience for a traditionally very paperwork-heavy industry.

Tools and insights: Harness is developing some of the most sophisticated tools for analyzing the tax implications of financial planning for equity and wanted to develop those in conjunction with leading tax professionals on our core team.

Tax market gap: There are several large, brand name firms that have high minimum fees, which can be a good fit if you have ongoing, high complexity tax needs, but they have limited flexibility in how they serve clients. We are seeking to deliver the expertise of big firms with more dynamic services that result in lower fees, so that discerning clients don’t have to feel like they’re stuck between choosing between two extremes: TurboTax (affordability) vs. big tax firms (expertise).

Servicing and efficiency: Highly skilled tax professionals go through annual periods of extremely heavy workloads during tax season as they manage not only work that requires true tax expertise but a variety of client-facing and back office work. We’re pushing for a change in the tax servicing model to smooth out the “spikiness” of service availability throughout the year to improve client experience, accessibility to the top tax experts, and the job satisfaction of CPAs so they can do their best work.

This is one of the most common questions we get. We’ve put a lot of thought into creating smart tech to make sure you find the best service(s) for your situation.

The best way to find the right service and advisors for you is to sign up for a Harness Wealth account. In your account’s Home Dashboard, you’ll be able to search for an advisor. You’ll answer a few thoughtful questions about yourself, your goals, and your needs, and our smart algorithm will recommend the best services for you.

Create an account here to get started.