AltaView Advisors LLC’s Post

Business owners often have plans of giving back once they sell their business and get ready for the next phase. But the planning for that shouldn't begin once the business is sold! You could save on capital gain taxes and thus keep more for the giving by properly setting up a contribution of a portion of your business before you sell it. This means you can realize and devote more value from the company toward your charitable dreams. Let's talk about it. Disclosure: Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

Ensure you're maximizing your tax benefits with effective record-keeping practices! Keeping meticulous records is crucial for substantiating your deductions and credits during tax season. Accurate documentation not only supports your claims but also streamlines the process, ensuring you claim everything you're entitled to, from business expenses to charitable contributions. Whether you prefer digital or physical records, finding a system that works for you is key to staying organized and prepared for potential audits. Don't wait – start keeping thorough records today to secure your financial savings and peace of mind. #TaxDeductions #TaxCredits #RecordKeeping #FinancialPlanning #MaximizeSavings

Is your financial and tax plan ready for year-end? The year-end presents unique opportunities to maximize tax savings and fine-tune your investments. Whether it’s RRSP contributions, tax-loss harvesting, or charitable giving, now is the time to act. Marco Faccone at MGF Advisory provides fee-based financial planning and investment strategies tailored to your goals. With over 25 years of experience, Marco ensures your financial plan is tax-efficient and aligned with your long-term success. Take control of your year-end financial planning with unbiased, professional guidance that protects your wealth and prepares you for a strong 2025. Don’t leave money on the table—turn opportunities into savings and growth. Contact Marco today at 604.789.3888 or marco@mgfadvisory.ca and make your year-end financial goals a reality. #YearEndTaxPlanning #TaxStrategies #FinancialPlanning #FeeBasedAdvice #WealthManagement #InvestmentStrategy #TaxEfficiency #RetirementPlanning #SmartInvesting #FinancialSecurity #TaxOptimization #WealthBuilding #VancouverAdvisor #FinancialGoals #IncomePlanning #WealthProtection #ComprehensivePlanning #FinancialConsultant #InvestmentManagement #TransparentAdvice #RRSPContributions #TaxSavingTips #FinancialSuccess #WealthGrowth #MarcoFaccone #LongTermWealth #SecureFuture

🚨 Year End Tax Planning Tip 🚨 Tip # 2. Defer Income and accelerate deductions If you expect to be in the same or a lower tax bracket next year, consider deferring your year-end bonus or postponing income to potentially reduce your tax liability. Another strategy to think about is accelerating deductions, such as charitable donations or medical expenses, to lower this year's taxable income. A little planning now can save you a lot later! Always consult with a financial advisor or tax professional to ensure this approach aligns with your overall financial goals. #YearEndTaxTips #TaxPlanning #WealthManagement #FinancialStrategy #SmartMoney #IncomePlanning #TaxBracket #FinancialAdvisor

As we approach the end of the year, it's the perfect time to reassess your financial strategies—and tax planning should be at the top of your list. 💸 In our latest episode, we're diving into THREE essential strategies to help you minimize taxes and maximize your wealth: 🔹 QCDs (Qualified Charitable Distributions) 🔹 Tax Loss Harvesting 🔹 Gifting Appreciated Stock Watch now: https://lnkd.in/e5cfJGtw #TaxPlanning #FinancialStrategies #2024Goals #WealthManagement #TaxEfficiency #YearEndPlanning

For Estate Planning Attorneys: An accurate business valuation is a crucial tool in your client's estate planning strategy.   Here's why: Strategic Gifting: Proper valuations enable precise gifting strategies, helping to reduce the taxable estate and maximize lifetime gift tax exemptions. Optimized Charitable Contributions: Leverage business valuations to structure charitable contributions, offering substantial tax benefits while supporting your client's chosen causes. Family Limited Partnerships (FLPs): Utilize accurate valuations to implement FLPs, allowing for better management of estate taxes and retention of control over business assets.   Business valuations aren't just numbers—they're a pathway to a more secure and optimized estate plan. If you have clients who are business owners, let's discuss how I can support their estate planning process through comprehensive business valuations.

As we approach the end of the year, it's the perfect time to reassess your financial strategies—and tax planning should be at the top of your list. 💸 In our latest episode, we're diving into THREE essential strategies to help you minimize taxes and maximize your wealth: 🔹 QCDs (Qualified Charitable Distributions) 🔹 Tax Loss Harvesting 🔹 Gifting Appreciated Stock Watch now: https://lnkd.in/ePGuGSsn #TaxPlanning #FinancialStrategies #2024Goals #WealthManagement #TaxEfficiency #YearEndPlanning

Stay organized and stress-free with meticulous expense tracking! Keep records of all expenses, including deductions for charitable contributions, medical bills, and business costs. An efficient filing system ensures a smooth tax filing process. #FinancialTips #TaxPreparation #RecordKeeping #AmericanTaxCo #AFirmThatFeelsLikeFamily #RMUC24 #PalmSprings #PropertyManagement #Networking #Innovation #RentManager #CareerGrowth

Are you prepared to maximize your tax savings before the year ends? As 2024 wraps up, now is the time to implement smart tax strategies that protect your wealth and set you up for financial success in the new year. Marco Faccone at MGF Advisory specializes in fee-based financial planning and investment management, helping you optimize your investments, maximize deductions, and minimize tax liabilities. With over 25 years of expertise, Marco provides personalized, tax-efficient investment strategies tailored to your goals. Don’t leave money on the table. From tax-loss harvesting to RRSP contributions and charitable giving, Marco ensures your financial plan is tax-optimized and aligned with your future aspirations. Contact Marco at 604.789.3888 or marco@mgfadvisory.ca today to create a year-end tax plan that works for you. Secure your financial future before the deadline! #YearEndTaxPlanning #TaxStrategies #FeeBasedAdvice #WealthManagement #InvestmentStrategy #RetirementPlanning #TaxEfficiency #SmartInvesting #FinancialPlanning #WealthBuilding #VancouverAdvisor #TransparentAdvice #FinancialSecurity #IncomeProtection #LongTermWealth #RiskManagement #ComprehensivePlanning #WealthProtection #FinancialConsultant #InvestmentAdvisor #FinancialFreedom #TaxPlanning #MarcoFaccone #FinancialSuccess #SecureFuture #TaxSavingTips #InvestmentManagement

The IRS has announced the 2025 business standard mileage rate. It will increase three cents over the 2024 rate to 70 cents per mile. For information and guidelines on the 2025 deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes, and more, refer to the IRS Notice here. https://loom.ly/Oi4rONM #cironefriedberg #taxes #mileage #taxdeductions #businessexpense #cpa #taxcpa #accounting #irs