Insights on tax, equity, and building wealth
Guides and analysis from the Harness team and the advisors on the platform.
How to Manage Multi-State Tax Clients
Managing multi-state tax clients is no longer a niche issue—it’s a defining challenge of modern tax practice. As businesses expand across borders and remote work redefines physical presence, tax professionals are expected to navigate a patchwork of state rules that rarely align.
How IRS Updates in 2025 Could Impact Your Tax Practice
The IRS updates for 2025 are more than routine adjustments—they mark a turning point for tax professionals navigating an increasingly complex regulatory environment. With major shifts in tax brackets, standard deductions, and digital asset reporting, firms will need to rethink how they serve clients across income levels and asset classes.
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.
Set Your Kids Up for Success: What You Need to Know About 529s and Education Savings
College education represents one of the most significant investments in your child's future. With tuition costs climbing relentlessly, many families struggle to fund higher education without burdening their children with crushing student loan debt.
What the IRS AI Audit Push Means for Tax Professionals in 2025
The Internal Revenue Service is ushering in a new era of tax enforcement. In 2025, the agency's strategic deployment of artificial intelligence represents a fundamental shift in how tax compliance will be monitored and enforced, with over 68 AI-related projects already transforming everything from routine audits to complex investigations.
Why Multistate Tax Issues Are Becoming a Bigger Risk for Your Clients
How states approach taxation is undergoing a seismic shift. Across the United States, revenue departments are reaching beyond traditional boundaries to capture tax from businesses in the digital age.
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.
How Founders Can Use QSBS to Minimize Capital Gains Taxes in 2025
For founders anticipating a liquidity event in 2025, Qualified Small Business Stock (QSBS) planning is no longer optional—it’s essential. The potential to eliminate up to $10 million in federal capital gains tax per shareholder isn’t just a tax perk; it’s a meaningful wealth planning lever that can reshape outcomes for you and your family.
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 Grow a Tax Firm: Proven Strategies for Building a Referral-Driven Tax Practice
For tax firms looking to grow sustainably, referrals consistently outperform paid marketing and cold outreach. Referred clients are more likely to engage, stay longer, and generate greater lifetime value—without the rising costs and uncertainty of traditional lead generation.
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.
The Benefits of Tax Deferral: Using Deferred Compensation Plans as a Founder
It's not uncommon for founders to face unique challenges in managing compensation while optimizing tax efficiency. Standard compensation structures often fail to align with founders' long-term financial strategies, creating potential tax inefficiencies and limiting wealth accumulation opportunities.
What Tax Firms Need to Know About the IRS Voluntary Disclosure Program
When a taxpayer has knowingly failed to report income or foreign assets, the risks go far beyond penalties—they can include criminal prosecution. The (VDP) IRS Voluntary Disclosure Program offers a critical opportunity for these individuals to come forward before the IRS initiates an investigation.
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.
Asset Location vs Asset Allocation: Which Has More Tax Impact for Your Client?
When it comes to investment management, tax advisors generally have 2 main considerations: asset allocation and asset location. While allocation decisions tend to dominate tax advisor attention, strategic placement of assets across different account types often yields greater tax benefits, especially for high-net-worth clients.
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.
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