Insights on tax, equity, and building wealth
Guides and analysis from the Harness team and the advisors on the platform.
Your Next Client Isn't Searching Google. Here's Where They Are.
When it comes to attracting new clients, especially those needing high-income tax planning, tax advisors spend a great deal of time and money on digital marketing. While optimizing ad campaigns and climbing search rankings may appear like a productive use of resources, a recent survey conducted by Harness reveals that only 11% of high-income earners discover their tax advisors through online searches.
HTS Classification Best Practices: Reduce Duties and Stay Compliant
Within the increasingly complex realm of international trade, few factors carry more weight than proper Harmonized Tariff Schedule (HTS) classification. A single classification decision can mean the difference between optimal duty rates and unnecessary overpayments that drain your clients' bottom lines.
What Changed for Importers with the De Minimis Exemption in 2025
Life just got more difficult for importers with August 29th, 2025, marking the end of duty-free small shipments. The $800 de minimis threshold that once streamlined international commerce is gone, with every commercial import now facing customs scrutiny, duty assessment, and compliance requirements.
Mega Backdoor Roth in 2025: Limits, Pitfalls, and High-Income Playbooks
High-income earners face a frustrating situation when it comes to retirement savings. IRS income restrictions block access to tax-advantaged Roth accounts, limiting a high-income earner's wealth-building options.
A Reporting Guide to Federal vs State Treasury Bill Taxes
With current yields hovering around the 4 to 5 percent mark, Treasury bills (T-bills) are one of the more attractive short-term government securities. What makes T-bills particularly interesting are the tax advantages they offer compared to corporate bonds, certificates of deposit, and other fixed-income investments.
The History of U.S. Tax Policy: Navigating Changes as a Tax Advisor
Over the last four decades or so, the U.S. tax code has evolved from being a relatively straightforward system into an intricate framework of regulations, deductions, and provisions. With the complexity of the tax code challenging even the most seasoned tax professionals, the accounting industry has seen a huge rise in tax professionals who focus on specific areas of taxation.
Tax Advisor Weekly — October 10, 2025
From Main Street to Silicon Valley, the latest federal moves are rippling through tax strategy and planning. Startups may now rethink their entity choice thanks to expanded QSBS exclusions, while financial advisors are cautiously upbeat about client retirement prospects and tax burdens under the One Big Beautiful Bill Act (OBBBA). Meanwhile, the government shutdown continues into its second week, furloughing half of the IRS and raising new risks for refunds, audits, and processing delays. And as immigration and labor policy take a turn, the Trump administration is advancing stricter H-1B visa rules.
PTE SALT Cap Workarounds in 2025: Who Should Elect, When, and State-by-State Nuances
In high-tax states across America, business owners have watched their state and local tax deductions shrink under federal caps. Pass-through entity tax elections may have emerged as a SALT cap workaround to help preserve deductions, but recent legislative proposals threaten to reshape these strategies.
What the Crypto Wash Sale Rule Means in 2025
Tax planning for crypto investors is on the brink of a major change. While current tax law still allows investors to exploit the wash sale loophole—selling an asset at a loss and repurchasing it immediately to claim a tax deduction—this advantage is unlikely to last.
Section 179 vs Bonus Depreciation in 2025
Among the numerous changes that the One Big Beautiful Bill Act has brought into play, business tax incentives have experienced a major upgrade. This legislation has completely transformed Section 179 and bonus depreciation, creating opportunities to immediately deduct qualifying property purchases.
Understanding the Roth IRA 5-Year Rule: Withdrawals, Conversions, and Timeline
For all the considerable advantages that a Roth IRA brings to retirement planning, it comes with small print that investors need to be aware of. Chief among these details is the Roth IRA 5-year rule—a timing requirement that determines when you can access retirement funds tax-free and how conversions from traditional accounts get treated.
Tax Advisor Weekly — October 3, 2025
Fiscal drama is colliding with tax policy again this week. The federal government officially shut down after a deadlock in Congress over Affordable Care Act premium tax credits that support 22 million Americans. At the same time, President Trump has escalated his tariff strategy—targeting foreign-made films, heavy trucks, and even household furniture. Meanwhile, advisors are watching how these trade measures interact with inflation and consumer spending. And in the corporate tax world, Amazon’s $2.5 billion FTC settlement comes with a big catch: most of it is tax-deductible.
Our Guide to Capital Loss Carryforward Rules (Limits, Examples, and FAQs)
Investment losses can create tax difficulties when losses exceed the amount you can deduct in a single year, resulting in financial setbacks that come with limited tax relief. Capital loss carryforward, however. offers a solution that allows you to spread the tax benefits of those losses across multiple years.
Harness Selected for AWS x Meta Llama AI Program to Accelerate AI Innovation for Tax Advisors
Harness Selected for AWS x Meta Llama AI Program to Accelerate AI Innovation for Tax Advisors
When Should an LLC Become an S-Corp? The $80K Rule Explained
If you’re running a profitable LLC, you’ve probably heard whispers—or full-on pitches—about switching to an S-Corp for tax savings. Maybe from a CPA. Maybe from TikTok. Maybe both.
The Pros & Cons of a SEP IRA vs Solo 401(k) in 2025
As self-employment has continued to grow as a career path, so too has the importance of retirement planning. The decision between a SEP IRA or Solo 401(k) carries more weight now than ever, with 2025 bringing adjusted contribution limits and fresh tax considerations.
Tax Advisor Weekly — September 26, 2025
Tax policy and client planning are intersecting more sharply than ever this week. Retirees are watching the projected Social Security COLA for 2026, while the IRS is set to phase out paper refund checks beginning September 30. Homeowners racing to claim energy-efficiency tax credits may lose their window before year-end. Meanwhile, inflation data will test whether last week’s Fed rate cut was justified. And for service workers, new clarity emerged on how “cash tips” will be treated under the tip‑tax deduction rules.
Evergreen Private Equity Funds and How They Differ From Traditional PE Structures
The long-standing dominance of fixed-term private equity funds is being challenged by evergreen funds that are reshaping PE with an open-ended structure that allows investors to enter and exit on a regular basis. Approximately $700 billion now flows through these semi-liquid vehicles, with the 5% of AUM currently allocated to evergreen funds expected to rise to 20% in the coming decade.
10 Rules for Superfunding a 529 Plan in 2025
A 529 college savings plan is a tax-advantaged tool that helps families meet the challenge of college costs. For those with substantial assets, a strategy that can be more impactful is "superfunding." Superfunding uses a special provision in the tax code to contribute a large lump sum to a 529 plan, treating it as five years of gifts. This strategy allows individuals with larger sums of money to accelerate college savings while reducing their taxable estate.
Tax Advisor Weekly — September 19, 2025
As tax enforcement tightens and generational wealth divides widen, advisors are being pulled in every direction. Gen X clients are struggling to build lasting financial legacies, just as the IRS ramps up pressure on digital asset payrolls and cash-heavy small businesses. Meanwhile, a little-known strategy is helping retirees earn up to $141K in tax-free income—if they play their cards right. In corporate tax, a high-stakes battle is unfolding as the IRS challenges common shareholder loan structures, blurring the line between debt and equity.
Harness Named to the Inc. 5000 List of America’s Fastest-Growing Private Companies for Second Straight Year
Inc. Magazine ranked Harness 192 out of 5000 companies in August 2024 and 1390 out of 5000 companies on August 12, 2025. The most recent ranking is based on revenue growth from 2021 - 2024. All companies pay a fee to be considered by Inc. for the Inc. 5000 ranking.
What is a Step Up in Basis?
Among the tax provisions relevant to intergenerational wealth transfer, "Step-Up in Basis" holds a prime position. Resetting an asset's tax basis to its fair market value upon the original owner’s death, the provision potentially eliminates capital gains taxes on appreciation that occurred during the owner's lifetime.
Tax Advisor Weekly — September 12, 2025
As new rules from Trump’s “Big Beautiful Bill” take shape, the IRS has begun previewing major changes to the 2026 W-2 and W-4 forms, including new codes for tip and overtime deductions. At the same time, legal and economic clouds are gathering: the Supreme Court has agreed to fast-track a decision on the legality of Trump’s sweeping tariffs, which could trigger billions in taxpayer refunds. And fresh revisions from the Bureau of Labor Statistics reveal that nearly 1 million jobs were overcounted earlier this year—adding urgency to calls for monetary easing.
73% of Clients Say Trust Is the #1 Priority. Here’s How to Build It Before the First Meeting
According to a recent Harness survey, nearly three-quarters of high-income clients place trust above all other factors when choosing a tax advisor. Not expertise. Not pricing. Trust.
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