For certain taxpayers a deductible IRA contribution is not only an immediate tax savings, it also may qualify them for a third stimulus check under President Biden’s American Rescue Plan legislation. These $1,400 stimulus checks have already begun to arrive via direct deposit, and will continue to be issued over the coming days and weeks. Read more about In the News: Money[…]
Although 2020 unemployment benefits will not be taxed at the federal level for most unemployed Americans, 2021 unemployment payments received could likely be considered IRS taxable income. Harvey explains why it may be prudent to have 10% federal withholding taxes taken out in order to avoid the pressures of a tax bill at 2021 filing Read more about In the News: Fortune[…]
Holographic wills are allowed in the State of California. However, the mental capacity and state of mind of Larry King will play a vital role as to whether or not his previous attorney-drafted estate plan will hold up. Rumor has it that his estate is worth close to $100 million. More on this here: https://www.wealthmanagement.com/estate-planning/larry-king-s-handwritten-will-throws-estranged-wife-curveball
How fascinating it is seeing a group of unrelated retail stock traders collaborate on a Reddit chat room (Wall Street Bets) to challenge the hedge funds who overly short-sold GameStop stock! America, the land of opportunity, allows anyone who works hard and studies (in this instance how stock trading works) to succeed and prosper. Please Read more about In the News: New York Post[…]
Dealing with million dollar and multi-million dollar income earners is something Harvey and his staff are intimately familiar with. And, the famous song by “Mo Money, MO Problems” is not what Harvey’s accustomed to. Rather…Harvey’s clients: a) make more money, pay in the least amount of taxes legally after taking advantage of tax exemptions, tax Read more about In the News: Yahoo Finance[…]
Harvey explains why successful entrepreneurs need a personal CFO to manage and bridge the gap between their business and personal financial lives. Many times this ultra-valuable resource is missing, thereby creating havoc, especially when it comes to estate planning and business succession arrangements. Acting as the team quarterback, the personal CFO coordinates and implements the Read more about In the News: Wealth Management[…]
Harvey was quoted this week in The Estate Planner on the hot topic of Celebrity Holograms and Post-Mortem Rights. It is crucial for celebrities and other famous people to implement an asset protection strategy to safeguard their rights to publicly use their likeness in one form or another. Please call me to discuss ways I Read more about In the News: Wealth Management[…]
The Internal Revenue Code section 469(c)(7) allows certain individual involved in the real estate business, known as qualified “Real Estate Professionals,” to deduct losses from their real estate holdings and offset other business net income with these real estate losses. President Trump, before 2016, is an example of this type of real property owner and Read more about In the News: USA Today[…]
Looking for assets that you or your older family members may have forgotten about or didn’t realize are yours/theirs like a pension, 401(k), IRA, inheritance, dividend checks, or even a deed to ownership of real estate? It’s a good idea to check out these websites. Harvey explains where to look in order to find them Read more about In the News: US News & World Report[…]
Harvey is quoted in Forbes regarding New York City workers now working from home. This is a tricky and confusing topic which Harvey has mastered and is available to consult with. Contact our office with any questions. In the meantime, please enjoy this wonderful article, written by Liz Famer of Forbes, entitled “Teleworking? Your Income Read more about In the News: Forbes[…]