Knowledge Base
Tax strategy, healthcare before Medicare, the post-FIRE identity shift, and the financial decisions that get more complicated after you stop earning.
1054 articles — page 16 of 88
Yes. If you own UK property or land as a non-resident, HMRC will tax your gains. UK capital gains tax for non-residents applies to residential property since April 2015, commercial property and indirect disposals since April 2019, and the rules have tightened every year since. Understanding exactly
If you're holding courtside seats or a luxury suite license and wondering whether the IRS will share the cost, the short answer is: almost certainly not. The 2017 Tax Cuts and Jobs Act eliminated the entertainment deduction entirely. No phase-in, no income threshold, no partial credit for business p
California residents who inherit assets from abroad owe no state inheritance tax and typically no federal income tax on the inheritance itself. That sounds clean. It isn't. The real exposure on foreign inheritance tax in California comes from federal reporting obligations, ongoing income taxation of
The BNY Mellon wealth management minimum sits at $5 million in investable assets for entry into its flagship Wealth Management division, though the firm's actual practice targets clients closer to $10 million. That gap between the marketed floor and the operational reality matters if you're sizing u
Executive wealth management addresses a specific problem: when 50-70% of your total compensation arrives as equity, your financial plan cannot look like anyone else's. According to Willis Towers Watson's 2023 executive compensation survey, long-term incentives including RSUs, performance shares, and
Massachusetts taxes non-residents on capital gains from Massachusetts-source income, including real estate sales and business asset dispositions. The state's short-term rate of 8.5% and its 4% millionaires surtax create a combined burden that can push effective rates well above 30% for high-income s
ActBlue tax deductibility follows a simple rule: political contributions processed through the platform are not deductible on your federal return. Full stop. The IRS treats them as personal expenditures, the same category as a restaurant meal. The one exception is donations routed through ActBlue Ch
Real estate commissions and tax deductions follow a specific mechanic that most sellers misunderstand: commissions don't create a direct deduction. They reduce your "amount realized" on the sale, which shrinks your taxable gain. For sellers in high-cost markets with appreciation well above the §121
Most tax planning focuses on deductions you can take today. That framing misses half the picture. Non-deductible expenses frequently increase your tax basis, and at the 23.8% combined federal capital gains rate (20% long-term rate plus the 3.8% net investment income tax under IRC §1411), every $100,
The distinction matters more at high income levels than anywhere else. Tax-deductible contributions reduce your taxable income in the year you make them. Tax-deferred accounts postpone the tax bill entirely, letting gains compound without annual drag. Both reduce what you owe the IRS, but at differe
Aggressive tax planning sits in the space between legitimate tax optimization and outright evasion. For high-net-worth individuals, understanding exactly where that line falls matters more than it does for most taxpayers. The IRS has made clear that people with $5M+ in assets are a priority enforcem
Wells Fargo wealth management fees for accounts above $5 million typically run 0.50% to 1.25% annually on assets under management, based on Cerulli Associates research on major wirehouse pricing. That range sounds manageable until you price it in dollars: a $10M portfolio at 1.0% costs $100,000 per