Estate Tax Planning

Running a business can be one of the most powerful wealth building and tax planning tools available But only if you do it right I see the same early mistakes over and over, even from very successful business owners If you want to set yourself up correctly from Day 1 (or fix it before it gets expensive), here’s what matters most 👇 1. Get your entity election right This is foundational. The right structure can dramatically reduce taxes and expand planning opportunities The wrong one can mean: - Unnecessary self-employment taxes - No access to PTET - Reduced or eliminated QBID - Limited retirement contribution options - No QSBS - Less tax efficient for reinvesting and growing the business This decision should be proactive and can change as your business evolves 2. Keep business and personal finances completely separate Commingling accounts is one of the most common and costly mistakes It can: - Create audit risk - Destroy LLC liability protection - Turn tax prep into a nightmare - Cost you far more in professional fees and your time Clean separation from Day 1 saves money, time, and stress. 3. Track all your expenses Most business owners leave money on the table simply because they don’t track well Good tracking: - Maximizes legitimate deductions - Makes tax planning actually work - Gives you clarity on real cash flow The easiest time to do this is before the business gets “busy.” 4. Save for taxes monthly This is non-negotiable I see too many high-income business owners fall behind, then have to scramble to make things work Treat taxes like a fixed expense, not a surprise This is a huge reason we give clients new tax updates at every call 5. Understand safe harbor taxes and pay your estimates Underpayment penalties are completely avoidable. You need to Know: - Your safe harbor number - Your quarterly payment schedule - What you will get in from withholding - How income volatility affects estimates If you don’t know these numbers, you’re guessing And guessing is expensive 6. Do real tax planning 2–3x per year (not just in April) One of the biggest advantages of business ownership is tax flexibility But it only works if you plan: - Mid-year - Again in Q3 - Then finalize in December Tax planning is proactive. Tax prep is reactive 7. Setup the right retirement accounts Set up the right retirement accounts Not all retirement plans are created equal. In most cases: - Solo 401(k) > SEP IRA - 401(k) > SEP IRA and Simple's The wrong setup can cost you tens of thousands per year in missed contributions And limit Roth strategies Owning a business gives you incredible leverage... if it’s structured correctly But I see so many overpaying in taxes because they do not invest in tax planning

How to plan for your January 2026 tax bill, without stress Not waiting until December to panic? Revolutionary. Every January, I hear the same thing from new clients: "I didn’t think it would be that much." "My accountant didn’t give me a heads-up." "Is there a payment plan?" Let’s not do that again. Here’s your month-by-month plan to avoid the January 2026 panic: 👇 🟦 August–September 2025 → Get your 2024–25 books up to date → Chase any missing receipts → Check what’s been paid vs what’s owed No point planning for a bill you haven’t calculated. 🟦 October 2025 → Ask your accountant for an estimated tax liability → Check if you’ve set aside enough → If not, adjust your next few months accordingly You still have time to fix things. Use it. 🟦 November 2025 → Ringfence your tax pot → Keep it in a separate account → Set a reminder to not dip into it If you’ve got the money sitting in your main account, it’s already half-spent. 🟦 December 2025 → File your return early → Know the final number → Enjoy your Christmas without HMRC haunting you Early submission = no January surprises. 🟦 January 2026 → Pay the bill → Don’t panic → Start planning next year’s tax from February onwards This isn’t rocket science. It’s just boring systems that make life 10x easier. Most agency owners overcomplicate this. Or ignore it until the last possible moment. Then wonder why January feels like a financial hangover. You’ve got five months. Use them well.

6 uncommon ITR wins you are probably skipping this year. Most taxpayers treat ITR filing as a deadline to survive, not an opportunity to optimise. In my years of guiding professionals and companies, I have noticed that the real value lies in the lesser-known sections most people ignore. Here are 6 that can make a difference before Sept 15: 👉 Switching regimes at filing Salaried taxpayers can still switch between old and new regimes during filing, not just at declaration time. This single move can unlock extra savings. 👉 Fixing AIS/26AS mismatches Even small mismatches between your AIS and Form 26AS can lead to future notices. Resolving them now keeps your record clean. 👉 Set-off and carry-forward of losses Capital market or business losses can be set off and carried forward, provided you report them correctly. Many skip this and lose future benefits. 👉 HRA paid to parents If you live with your parents and pay rent, with proper proof and rental receipts, you can claim HRA deductions. A simple move that is often ignored. 👉 Pre-construction interest Interest paid before possession of property can be split and claimed in five equal installments after completion. Missing this costs you years of deductions. 👉 Donation mapping under 80G Donations must match what institutions have reported. Double-checking ensures your claim is not disallowed. Filing is not just compliance. It is a strategy. And the smartest taxpayers don’t skip these wins.

You don’t need to earn more. You need to keep more. Most people focus on income and ignore what taxes quietly take away. The real game: It’s not what you make. It’s what you keep. Start here: 1. Earn Through Tax-Efficient Structures ↳ Structure determines how much tax you pay ↳ Use businesses instead of personal income streams ↳ Plan income types before earning begins 2. Capture Every Legitimate Deduction ↳ Missed deductions reduce net income ↳ Track income-related expenses consistently ↳ Separate personal and business spending clearly 3. Leverage Depreciation Strategically ↳ Paper losses offset real income ↳ Invest in assets with depreciation benefits ↳ Accelerate depreciation where legally allowed 4. Reinvest to Defer Taxes ↳ Reinvestment delays taxes and compounds growth ↳ Roll profits into income-producing assets ↳ Avoid unnecessary taxable events 5. Optimize Income Timing ↳ Timing impacts how you’re taxed ↳ Shift income across tax years strategically ↳ Align timing with tax brackets 6. Use Tax-Advantaged Accounts ↳ Reduce taxable income legally ↳ Maximize contributions annually ↳ Use retirement, health, and education accounts 7. Protect Gains with Smart Planning ↳ Poor planning creates tax leakage ↳ Plan exits before investing ↳ Use long-term strategies for lower taxes Tax strategy isn’t a one-time move. It’s a loop you repeat every year. Earn. Protect. Reinvest. Repeat. Follow me Marc Henn for more. We want to help you Retire Early, Supercharge Your Cash Flow, and Minimize Taxes. Marc Henn is a licensed Investment Adviser with Harvest Financial Advisors, a registered entity with the U. S. Securities and Exchange Commission.

Most tech leaders leave serious money on the table with their tax strategy. The irony? Taxes are likely your biggest expense each year. Yet we spend more time optimizing smaller costs. We recently hosted a Supra learning talk with tax advisors who specialize in working with tech employees. They shared 5 tax moves that high earners often miss: 1/ Get strategic with charitable giving Don't just donate randomly throughout the year. Instead: ↳ Pool multiple years of donations into a Donor Advised Fund ↳ Donate appreciated stocks directly (avoid capital gains + get the deduction) ↳ Time it right to exceed the standard deduction threshold This simple shift can save you thousands. 2/ Maximize equity compensation Most people obsess about salary vs equity splits. The real game-changer? Early exercise + 83(b) election. Why it matters: ↳ Start long-term capital gains clock early ↳ Potentially save 15-20% on taxes when you exit But be careful: Only do this if you can afford to lose the exercise cost. 3/ Real estate isn't just about appreciation Smart property investing can create powerful tax benefits: ↳ Depreciation often wipes out rental income tax ↳ Interest and property tax deductions ↳ Short-term rentals (<7 days) can offset W2 income The key? Structure it right from day one. 4/ Think beyond the 401k High earners have more options: ↳ Cash Balance Plans for higher contribution limits ↳ Municipal bonds for tax-free income ↳ Strategic life insurance policies for tax-deferred growth 5/ State planning matters Moving states? Watch out for the "convenience of employer" rule. If your company is based in NY/CA: ↳ Remote work doesn't automatically save state taxes ↳ Equity grants can be taxed by multiple states ↳ Timing your move matters more than most realize The most expensive mistake? Most tech leaders treat their accountant like a tax preparer instead of a strategic advisor. They send over their documents in March. Get their returns filed in April. And never think about taxes again until next year. This passive approach costs them hundreds of thousands. The reality? Tax strategy is a year-round game. Work with advisors who can help you plan proactively. Small moves today can mean six-figure differences tomorrow. What other tax strategies have worked for you? ---- This post is for informational purposes only and should not be considered tax advice. Always consult with your tax advisor before implementing any tax strategies.

I’ve helped clients save over £4 million in taxes. And it’s not because they earned less or cut corners. It’s because they understood how to use tax rules to their advantage. Here are 10 strategies I give to my clients: For Individuals: 1. Maximise pension contributions to reduce your taxable income. ↳ Accounts like SIPPs offer generous tax relief on contributions. 2. Take advantage of your tax-free allowances every year. ↳ Use personal, dividend, and capital gains exemptions before they reset. 3. Invest in tax-efficient accounts to grow your savings tax-free. ↳ ISAs, for example, shield interest, dividends, and gains from tax. 4. Claim deductions for eligible expenses if you’re self-employed. ↳ Things like office costs and equipment can reduce your tax bill. 5. Spread capital gains over multiple years to save more. ↳ This lets you maximize annual exemptions without overpaying. For Businesses: 6. Sell your business through an Employee Ownership Trust (EOT). ↳ This can eliminate capital gains tax entirely on the sale. 7. Claim R&D tax credits for innovation in your business. ↳ Even small projects can qualify for these lucrative credits. 8. Use salary sacrifice schemes to cut payroll taxes. ↳ Pensions, electric cars, and childcare vouchers all save money. 9. Pay dividends instead of a higher salary to reduce tax. ↳ Dividend income is often taxed at a lower rate than wages. 10. Invest in capital assets to use the Annual Investment Allowance. ↳ This allows 100% tax relief on qualifying purchases. Tax savings aren’t about avoiding what you owe. They’re about understanding the rules and using them wisely.

When a Client Wanted to “Reduce” Corporate Tax A client in the UAE reached out to me recently for Corporate Tax return filing. I prepared the financial statements carefully and sent them for his confirmation. A few hours later, he called me — “Kiri, the CT payable is too high. Can we add some more expenses to bring it down?” This is where my role as a tax professional truly comes into play. ✅ First, I reminded him: The UAE has one of the lowest tax rates globally — just 9%. ✅ Then, I explained: Artificially inflating expenses isn’t an option. It risks penalties, audits, and reputation damage. ✅ Finally, I showed him how to reduce CT the right way: 🔹 Checked all allowable deductions – made sure every legitimate business expense (rent, salaries, professional fees) was booked. 🔹 Reviewed depreciation & amortization – ensured correct treatment of fixed assets under IFRS so we maximize deductions. 🔹 Confirmed related-party transactions – aligned with transfer pricing rules to avoid adjustments later. 🔹 Considered exempt income – such as foreign dividends or qualifying free zone income, where applicable. 🔹 Utilized foreign tax credit (WHT)– where legally available. By the end of the call, he said: “Thanks, Kiri. I’d rather sleep peacefully knowing we filed correctly.” --- Takeaway: Corporate Tax planning isn’t about shortcuts — it’s about knowing the law and using it to your client’s advantage. When done right, compliance becomes a competitive edge.

A SaaS founder recently asked me, “Is it too late to save money on my 2024 taxes?' My answer: Absolutely not! There’s still time to make strategic moves that can save you thousands. Here are a few key opportunities to consider: 1️⃣ Maximize R&D Tax Credits If you’ve been investing in product development, you might qualify for the R&D tax credit. Even if your company isn’t profitable, this credit can offset payroll taxes. 2️⃣ Accounting Basis Check whether cash basis or accrual basis accounting works better for you. If your current liabilities (like accounts payable, accrued liabilities, and deferred revenue) outweigh your current assets (like accounts receivable and prepaid expenses), accrual basis might save you money. 3️⃣ Review Deferred Revenue For SaaS businesses, proper revenue recognition can make a huge difference. Ensure you’ve tracked your deferred revenue for annual subscriptions correctly—it could lower your taxable income when filing under an accrual basis. 4️⃣ Review Entity Structure Consider a late S-Corp election. For bootstrapped SaaS companies with LLCs and positive income, this could be a game changer for taxes. 5️⃣ Take Advantage of Retirement Plans It’s not too late to contribute to a retirement plan for your business (like a SEP IRA or Solo 401(k)) and reduce taxable income. Contributions can often be made up until the tax filing deadline. 💡 Pro Tip: Partnering with a CPA who specializes in SaaS can uncover savings opportunities you might miss. ❓ Still unsure? Let’s talk about strategies to save on your 2024 taxes. Do you have a favorite tax saving strategy?

Real tax strategy needs to happen EVERY DAY, not once a year. And year-round tax planning is the best tool for shaping your company's future. How? • Monthly Money Moves: Don't just track income and expenses. Monitor the decisions that impact your taxes. Planning to buy new equipment? The timing of that purchase can have a significant impact on your tax situation. Same goes for hiring, ramping up ad spend, or any other strategic expenditure. • Quarterly Strategy Sessions: Work with a CFO or accounting firm who can help project your tax liability based on actual performance. This is key if you need to adjust your strategy before it's too late to make changes that matter. • Proactive Planning Pays: Regular monitoring and adjustment of your tax strategy helps you make informed decisions about business structure, investment timing, and expense allocation. You want to maximize deductions, minimize liability, and create a tax-efficient business model that supports your growth. I say it all the time: tax planning isn't just about paying less in taxes. It's about making informed decisions that make sense for your situation.