Insights on tax, equity, and building wealth
Guides and analysis from the Harness team and the advisors on the platform.
W2 Box 12 Codes Explained—A Simple Guide for 2025
W-2 forms can be deceptively straightforward—until you get to Box 12. It’s one of the most misunderstood sections, packed with codes that can signal everything from deferred compensation to employer-paid health coverage or stock options. And while many of these entries may not seem urgent, they can directly affect how your income is taxed and what deductions you qualify for.
The Easy Guide to Form 1120-S Instructions for S Corps
Form 1120-S is the U.S. Income Tax Return for an S Corporation—a business entity that avoids "double taxation" by passing its income, gains, losses, deductions, and credits directly to its shareholders. Unlike traditional C corporations, the S corporation itself generally doesn't pay federal income tax. Instead, the financial activity of the business is reported by the individual shareholders, with Form 1120-S being a key part of the process.
IRS Form 720 Instructions—Quarterly Excise Tax Guide
Federal excise taxes are often overshadowed by more familiar filings like income or payroll taxes—but for many businesses, they’re just as important. If your business sells goods or services that fall into certain categories—like fuel, air transportation, or health coverage—you may be required to file IRS Form 720 each quarter.
How the One Big Beautiful Bill Impacts Real Estate Investors
The One, Big, Beautiful Bill Act (OBBA) is here, and real estate investors face a complex landscape of new policies that can dramatically impact returns. The bill introduces sweeping changes that will reshape planning strategies for decades to come, creating both challenges and opportunities for property investors. From syndicators to REIT shareholders, from 1031 flippers to passive LPs (Limited Partners), nearly every real estate investor is affected by this bill.
How to Report Cryptocurrency Gains on your Tax Return
As digital assets become more integrated into everyday portfolios, reporting cryptocurrency gains on your tax return has gone from optional to essential. If you're asking, “do you have to report crypto on your taxes?”—the answer in 2025 is a firm yes.
Retirement Tax Strategy: When to Start Drawing Social Security
The age you claim Social Security can cost—or make—you six figures. Social Security isn’t just a safety net, it’s a lifeline. The program is one of the few sources of guaranteed, inflation-adjusted income you can count on for life. And yet, most Americans don’t treat it like a strategic asset. Nearly 60% of people claim their benefits before reaching full retirement age (FRA), even though waiting can significantly increase monthly payouts.
Building an ESG Tax Strategy: Can ESG Investing Help Lower Your Tax Bill?
With political battles raging over ESG, it’s easy to miss the bigger picture: ESG investing isn’t dead or deprioritized. It’s evolving. Despite headlines about record outflows and state-level bans, long-term investors are still turning to ESG as a tool for risk-adjusted returns, portfolio diversification, and yes—even potential tax advantages.
The Ultimate Tax Guide to Buying and Selling Startup Shares
The substantial financial returns that can result from investing in promising startups early are a major draw for investors and employees alike. The tax environment that surrounds startup share transactions, however, is a notoriously complex one. Trading startup shares presents far more challenges than dealing in publicly traded stocks, as a historic lack of clarity can leave many investors feeling unsure of their tax position.
A Practical Guide to Managing Multiple 1099s Efficiently
As gig work becomes increasingly prevalent, managing multiple income streams has become common, but tax season brings complexity as various 1099 forms flood your mailbox. Missing even one form in your filing could trigger unwanted IRS attention, making organization crucial.
What Taxpayers Need to Know about Long-Term vs. Short Term Capital Gains Tax Rates in 2025
Few aspects of tax law have a more direct impact on investment returns than capital gains taxes. The difference between short-term and long-term capital gains rates can mean keeping thousands more dollars of your investment profits—or watching them vanish to higher tax bills.
How to Keep Ahead of Changing Inherited IRS Rules in 2025
In less than two years, estate planning regulations will undergo a seismic shift. The Tax Cuts and Jobs Act of 2017, which temporarily doubled estate and gift tax exemptions, is hurtling toward its expiration date of December 31, 2025.
How Dual-Income Married Couples Can Strategically Lower Their Tax Bill
Dual-income married couples often face a more complex tax landscape than they anticipate. Without intentional planning, they may miss opportunities to lower their tax liability, optimize benefits, and align their strategy with long-term financial goals.
How to Claim the Child Tax Credit in 2025
Annual tax planning is approaching—and parents everywhere are wondering how the Child Tax Credit will impact their 2025 finances. The uncertainty stems from the looming expiration of current tax provisions.
How to Maximize Deductions If You Work Remotely Across States
Remote work has fundamentally altered the American tax landscape. In basements, spare bedrooms, and coffee shops across multiple states, millions of workers now face a complex web of tax obligations that would not make even seasoned accountants pause.
Everything You Need to Know About W-4 Forms: How to Fill Out a W4
Every time you start a new job, there’s one form that can quietly shape your entire financial year: the W-4. It tells your employer how much federal income tax to withhold from your paycheck—affecting everything from your monthly cash flow to whether you’ll owe money or get a refund come tax time.
What is Unrelated Business Taxable Income?
When it comes to tax-advantaged retirement accounts, many investors assume they won’t owe taxes until they start making withdrawals. But that’s not always true, especially when alternative investments are involved. A little-known tax called Unrelated Business Taxable Income (UBTI) can trigger unexpected tax bills inside accounts that are supposed to be tax-deferred, like IRAs and 401(k)s.
What are the Tax Benefits of Qualified Opportunity Zone Investments?
Investors looking to reduce or defer capital gains taxes have few truly effective options. One powerful solution was introduced with the 2017 Tax Cuts and Jobs Act Qualified Opportunity Zones (QOZs). These designated areas offer a rare combination of strong tax incentives and positive social impact by encouraging long-term investment in economically distressed communities.
How to Avoid the Net Investment Income Tax (NIIT) on Passive Income
When navigating complex investment taxation, the Net Investment Income Tax poses a significant challenge for high-income investors. This 3.8% surtax on certain investment earnings applies when your modified adjusted gross income exceeds $200,000 for single filers or $250,000 for married couples filing jointly.
The Complete Guide to Filing IRS Form 1120 for Startups and Corporations
Filing your corporate taxes is a yearlong headache and a seasonal scramble. While the “One, Big, Beautiful Bill” provides some tax relief for startups and corporations, taxes have not disappeared. The rules have changed, making 2025 a great time to brush up (or begin) your understanding of the IRS Form 1120.
How Property Tax Planning Can Maximize Real Estate Returns
Real estate can be a powerful engine for long-term wealth—but only when the tax strategy keeps pace with the investment. For property owners, taxes represent one of the largest and most controllable expenses. Yet too often, real estate investors overlook the nuances of tax planning until filing season, missing opportunities to improve cash flow, reduce taxable income, and preserve gains.
Understanding Federal Quarterly Tax Payments and Who Needs to Make Them
If you’re used to paying taxes just once a year in April, the idea of making four separate tax payments annually might sound like a mistake—or a punishment. But for millions of Americans, especially freelancers, self-employed professionals, and investors, federal quarterly tax payments are a regular part of financial life.
Investment Trends in 2025: Tax Loss Harvesting for Crypto
Crypto markets in 2025 are doing what they do best: swinging wildly. While some investors are chasing the next altcoin breakout, others are looking at something less flashy—but arguably more powerful when it comes to net returns: tax loss harvesting crypto.
Mortgage Tax Credit and Deductions: What Homeowners Can Still Claim in 2025
If you own a home—or are thinking about buying one—you’ve probably heard about the tax perks that can help offset some of the costs of homeownership. But with so many headlines around tax reform and mortgage caps, it’s easy to wonder: what deductions are still actually available in 2025?
How Expats Can Avoid Double Taxation in 2025
Living abroad doesn’t exempt you from U.S. taxes—and without the right strategy, you could end up paying twice. For millions of Americans working internationally, navigating expat taxes has become more complex than ever in 2025. New thresholds, increasing IRS scrutiny, and more aggressive foreign account reporting requirements mean that doing nothing is no longer an option.
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