How UGMA and UTMA accounts impact your kids' future

📌 Missed Your ITR Deadline? Delays in filing Income Tax Returns don’t just mean penalties—they affect future tax planning, loss adjustments, and regime flexibility. 💡 For bankers, this is a reminder to guide clients on timely compliance, as missed filings can impact not only their immediate tax outgo but also their borrowing eligibility, financial credibility, and long-term planning. #IIBF #WealthWisdom #BankersPerspective #TaxPlanning #ITRFiling #FinancialDiscipline

This Week's #AbhiExplains Series Talks About Tax Gain Harvesting ! Ever heard of the “tax harvesting hack”? 👉 Sell your mutual funds every year, book ₹1.25L gains, and avoid LTCG tax. Sounds clever? 🚫 Think again. This strategy can actually hurt your wealth. 💡 Taxes are inevitable. True wealth is built by staying invested — not by trying to game the system every year. 📌 I’ve broken down all the key reasons in this carousel. 👉 Swipe through to see why this “hack” may do more harm than good. If you found this useful, follow me here on LinkedIn for more insights, and subscribe to my YouTube channel for deeper content on financial planning & wealth building. https://lnkd.in/dxSD662S #tax #taxsavings #wealthmanagement #personalfinance #financialplanning #sip #mutualfunds #money #moneymanagement

Proactive Tax Planning: Avoiding a Year-End Surprise. For many, owing money at tax time is a major financial setback. The key often lies in reviewing your Form W-4 and estimating your annual tax liability. Our free Financial & Tax Education Newsletter offers actionable, timely insights into managing your withholding and making smart financial moves year-round. Elevate your financial literacy. Subscribe today: https://lnkd.in/ef3Vcxej #LincolnVITA #FinancialEducation #TaxWithholding #VITA #TCAN

High income households often overpay by letting taxes steer the plan. In this episode, Moise Piram and Andrew Nida outline five common mistakes and how to correct them before year end. We cover deductions vs credits, vehicle write offs, the risks of tax driven private deals, and the deadlines that actually matter. Practical, documented, and aligned with current IRS guidance. Watch the full discussion: https://lnkd.in/eEEmbJhd Share with a colleague who is heading into bonus season and wants a cleaner after tax outcome. Disclaimer: Educational content only. Not investment, tax, or legal advice. Investing involves risk. #TaxPlanning #HighIncome #WealthManagement #YearEndPlanning #TaxMistakes #FinancialPlanning #Section179 #finance #investing #retirementplanning #wealthplanning #personalfinance #tax #trumpnews #news #trending #SmallBusiness #ExecutiveFinance #BonusDepreciation #post #shorts #reels

88 Days Until Tax Season 🥳 At the end of the day, what you know, and what you DON’T know falls back on you. If your refund isn’t MAXED OUT, it will, ultimately, be your fault. Knowledge is always power and your leverage in any situation depends on it. Stick with me during this Pre-Tax Season, and beyond! You’ll be sure to learn a lot about filing your return, getting the maximum refund, and learning how to use your lump sum to set up your future wealth for true legacy 💰💃🏾💚 #ManifestProsperity #Legacy #Minded #Moms in #Business #Taxes #Max #Refund #Prepared #Not #Panicked #FinancialLiteracy #fyp

Tax debt is a serious challenge for many, but the consequences of ignoring it, such as a tax lien or bank levy, can be severe. This video provides professional advice on how to proactively engage with the IRS to establish a payment plan, whether through an installment agreement or a full payment. This is a critical step for professional and personal financial integrity. #TaxPlanning #FinancialLiteracy #TaxDebt #IRS #TaxAdvice #CPA #FinancialManagement #TaxLaw #FinancialWellness #TaxCompliance #blackcpa #africanamericancpa #businessmanager #virtualcfo #taxbrackets #blackbusinessmanager #fractionalcfo #cpa #africanamericancpa #africanamericancfo #africanamericanaccountant #blackaccountant #blackownedcpafirm #blackownedaccountingfirm

A great way to reduce CGT is to understand what you can claim as a deduction. Let’s look at some numbers I worked out for a client… Full video on YouTube: https://lnkd.in/gggK75Sb #LandTax #CapitalGainsTax #PropertyInvesting

💰 Part 6 of Stacey’s Financial Planning Mini-Series is here! This week, Stacey Gauthier, CFP®, PFP®, RIS, FCSI® covers tax planning - how to keep more of what you earn: ✔️ Using deductions, credits, and tax-sheltered accounts like RRSPs and TFSAs wisely ✔️ Exploring strategies like income splitting, deferring capital gains, and smart withdrawal planning ✔️ Reviewing your approach regularly as tax laws and life circumstances change Tax planning isn’t just about filing your return - it’s about making intentional choices all year long to keep more money in your pocket and working toward your goals. 📌 Watch now to learn how a solid tax strategy can enhance your entire financial plan. Servus Credit Union #FinancialPlanning #TaxPlanning #WealthManagement #FinancialWellness #MoneyMatters

Can’t afford to pay your tax bill? The IRS might actually pause collections. 💡 Our newest article, “How to Apply for Currently Not Collectible (CNC) Status with the IRS,” breaks down how you can qualify for temporary relief if paying your taxes would cause financial hardship. ✅ Stop wage garnishments and levies ✅ Learn what forms and documents you’ll need ✅ Understand how to apply and what to expect next If you’re struggling with IRS debt, IRS Trouble Solvers can help you navigate the process and get the breathing room you need. 👉 Read the full guide: https://loom.ly/mo07yyc #IRSTroubleSolvers #TaxRelief #CNCStatus #IRSHelp #TaxDebt #BackTaxes

Many high-income earners face significant tax burdens, sometimes paying hundreds of thousands annually. However, proactive and legal tax strategies can greatly reduce stress and ensure financial security. Implementing above-board IRS-approved strategies helps protect assets built over years of hard work. Good tax planning lowers net tax liability, freeing up cash flow for both business and personal use. Consider the peace of mind and financial flexibility gained from a proactive approach. #taxplanning #financialstrategy #assetprotection #cashflow #incometax #IRS