Stableford Capital Insights

As the tax year comes to a close around the holidays, it’s common to take stock of the year’s income and turn to charitable giving to potentially offset taxes. While a generous and mutually beneficial option, this can also be tricky to navigate depending on the taxpayer’s age and income level. Under current tax laws, […]

The fiscal landscape of 2023 was marked by significant policy shifts. Despite the Federal Reserve’s rapid monetary tightening, government-sponsored fiscal stimulus from pandemic policies counteracted potential negative wealth effects. This created unique tax planning opportunities, underlining the importance of staying abreast of policy changes and their implications for personal wealth.

Entrepreneurs and small business owners can use these five tax tips for the self-employed to help you save the most on taxes. Making strategic purchases, automating bookkeeping, and taking advantage of deductions can all provide better personal tax returns. A tax professional like those at Stableford Capital can simplify the process and find additional ways to save.

High net worth individuals who leverage life insurance give themselves access to the cash value of the policies. You can borrow against life insurance accounts or use it to invest. You can also pass along the cash value of a permanent life insurance tax-free through gifting under $15k or irrevocable life insurance trusts.

Health Savings Accounts’ triple-tax benefits make them appealing to high-net-worth investors and others who want to pay for healthcare expenses, save on taxes, and have an additional way to help fund retirement. HSAs should be part of your insurance planning discussions with your financial advisor.

Big news for small business—if you have shares of stock in a company valued at less than $50 million, you might be eligible to exclude over $10 million in taxes when sold. Qualified small business stock, or Section 1202 stock, can save you millions on your personal tax return. If you suspect you have left millions of dollars on the table at tax time, talk to an experienced accountant about using this exclusion next year or pursuing an amendment for a refund. Among our many integrated advisory services, Stableford Tax offers Tax Planning to help evaluate potential exclusions such as this on personal tax returns.