A new year means new tax changes. While Congress didn’t pass any major tax reform last year, there are still updated tax provisions that could affect how much money you keep and how much goes to Uncle Sam. That’s because Congress did pass the Inflation Reduction Act and SECURE 2.0 Act. Both bills contain tax implications, even if that wasn’t their primary focus.
Here are useful Tax-Related Updates for 2023 that speak to some of the most significant changes and other helpful hints for investors and retirees. My suggestion: Look over the material and highlight anything you have questions about. Then, feel free to share this content with your tax professional! He or she should be able to answer any questions you have.
One last thing that has not changed is that we still offer our “Executive Tax Service.” This is the service where we help you locate, organize and distribute all your tax documents to your tax preparer. In addition, we can provide our clients with a spreadsheet of their gains and losses for calendar year 2022. We can of course do this for all documents generate by Pershing on behalf of Harvest Wealth. We can also more often than not, do so for clients at our predecessor firm assuming they have granted us appropriate access.
Clients who are new to Harvest Wealth may find this service to be particularly useful since you will receive documents from more than one firm for the tax year of your transition.
To learn more about this service, email us at firstname.lastname@example.org.
As always, feel free to have your CPA reach out to us with any questions. We love to collaborate. Have a great month!