IRS Releases Updated Form W-4 and Withholding Calculator

The IRS has released a new version of Form W-4 and a revised Withholding Calculator on (IR-2018-36). These updated tools can help you check your 2018 tax withholding to determine if it's still appropriate following passage of the Tax Cuts and Jobs Act in December 2017. The IRS urges taxpayers to use these tools to make sure they have the right amount of tax withheld from their paychecks, taking into account significant changes to the tax law for 2018.

Asset Sale vs. Stock Sale of a Business – What’s the Difference?

One of the major aspects of a business sale is whether the business will be sold as an asset or as stock. An owner might be thinking, “Does it really matter as long as I get the highest sales price?” Well, as you’ll see below, there are plenty of circumstances that can make a LOWER sales price MORE attractive.

Health Savings Account Utilization Strategies

Health savings accounts (HSA) are a means for an individual with a qualifying high deductible health plan(1) to save for both current and future health expenses. Unlike any other savings vehicle, they are largely appealing for the triple tax benefit that they offer: contributions are tax-deductible, the interest and/or earnings grow tax free, and account owners may make tax-free withdrawals for qualified medical expenses (2).

Tax Strategies for Charitably Inclined Taxpayers

2018 Tax reform has brought about some of the biggest changes to the tax laws since the 1980’s. With new law, often comes confusion and occasionally misinformation for taxpayers. Many taxpayers believe they will no longer be able to deduct their charitable contributions in 2018 and going forward. The standard deduction has been increased, meaning that many people with modest charitable contributions each year may not see the same benefit. However, strategies exist for the charitably inclined to realize tax benefits in 2018 and going forward.

Examples of Maximizing After Tax Wealth for D3 Affordable Family Office Clients

Tax day, (April 18th), for most of us has come and gone. D3 Financial Counselors’ staff completed 127 tax returns for our Affordable Family Office clients.  Preparing these returns provides us the opportunity to witness the impact of the tax strategies we recommend in our client’s financial plans. In other words, we get to see the value these strategies generate by observing first-hand how they actually impact our client’s taxes. Below are examples of how we integrated after-tax wealth maximization with financial planning and portfolio management.