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Tax Planning

What is Tax-Loss Harvesting? By Todd A. Moll, CFP®, CFA

Posted December 19, 2023

While investors welcome market gains, they should not overlook the substantial tax liabilities their positive-performing investments may incur when it comes time to sell. Generally, investors are subject to capital gains tax as high as 37 percent when they sell non-retirement investments, real estate or other appreciating assets. However, it is possible for investors to […]

Financial Advisors May Help Investors Achieve Tax Alpha By Joseph Karl, CFA

Posted October 17, 2023

It is no secret that taxes can take a big bite out of investment returns. Consequently, it is essential to thoroughly analyze the short- and long-term tax implications of your investment decisions with an eye toward achieving tax alpha, or the added value that comes from implementing strategies that effectively reduce tax burdens on portfolio […]

Streamlined Annual Reporting Available to More Employee Benefit Plan Sponsors for 2023 Plan Year By Sean Deviney, CFP®*

Posted August 24, 2023

Earlier this year, the IRS, Department of Labor (DOL) and Pension Benefit Guaranty Corporation (PBGC) issued final changes to the annual reporting requirements of employee benefit plan sponsors for their 2023 filings of IRS Forms 5500 and 5500-SF. The revisions were introduced as part of the Setting Every Community Up for Retirement Enhancement Act of […]

Income, Estate and Retirement Planning with Taxes in Mind by Eric P. Zeitlin

Posted August 15, 2023

Engaging in estate and financial planning without paying attention to taxes can be a fool’s errand. Tax awareness can be tantamount to all aspects of saving, investing and spending. Failure to consider the tax implications of any estate or financial plan component may negatively affect expected returns and result in significant tax liabilities. Tax Terms […]

Donor-Advised Funds Gain Popularity as a Means of Charitable Giving By Eric P. Zeitlin

Posted August 1, 2023

According to the Giving Institute’s 2023 Annual Report on Philanthropy, charitable giving in the U.S. decreased more than 10 percent in 2022 from a record high the prior year. However, one area of giving that appears to be growing is the use of donor-advised funds (DAFs), which saw contributions and grants to philanthropic organizations increase […]

What is a Spousal Lifetime Access Trust? By Lee F. Hediger

Posted July 27, 2023

One of the basic principles behind proper estate planning is to help ensure that decedents’ hard-earned wealth passes to their heirs in the most tax-efficient manner, which often means minimizing exposure to federal estate and gift taxes. While there are a variety of trust vehicles and other strategies individuals may use to achieve this goal, […]

Important Estate Planning Considerations Before Selling a Business By Eric P. Zeitlin

Posted July 12, 2023

Selling a company that you put your heart and soul into building can provide significant rewards, including financial security for the remainder of your lifetime and potentially your heirs. Nevertheless, achieving that aim and reaping the full potential of the proceeds from a business sale requires careful reviews of where your business currently fits within […]

7 Critical Considerations When Buying Life Insurance By Scott Montgomery, CLU, ChFC

Posted June 1, 2023

Life insurance is a vital estate planning tool intended to protect your family members from significant financial burdens and other economic risks that can occur when you pass away. However, no two policies are alike and navigating the world of life insurance can be quite complex. In the simplest terms, a life insurance policy is […]

2023 Federal Tax Information

Posted March 3, 2023

The professionals of Provenance Wealth Advisors provide a comprehensive approach to income, estate, financial and business planning. We take pride in helping clients navigate complex financial and risk environments. To learn more about Provenance Wealth Advisors financial planning services click here or contact us at info@provwealth.com

There is Still Time for Trusts to Reduce 2022 Tax Liabilities By Robert Mark Weiss, CFA

Posted January 24, 2023

Although 2023 is well underway, certain calendar-year trusts and estates still have a small window of opportunity to reduce their 2022 income tax liabilities and those of the trusts’ beneficiaries provided they act before March 6, 2023. Under a special IRS rule, trustees have 65 days after the start of a new year to distribute […]

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