Crescent Harbor Private Wealth

Topics to discuss with your tax accountant BEFORE you file your tax return. IRA Contribution can be made for 2024 up until April 15th 2025.?Which type of IRA is best for you?Traditional IRA? Did you make an IRA contribution, and if so, can you deduct it??The ability to deduct one’s IRA contribution is a factor of you and your spouse’s eligibility for an employer sponsored retirement plan AS WELL AS your income levels. Roth Contribution: These are only fully available to taxpayers with income below a certain level. (Phase outs begin at $230,000 Married, $146,000 Single/Head of Household) Backdoor Roth: If you did a Traditional IRA and can’t deduct it, you may be able to convert it to a Roth IRA. Remember: You cannot contribute more than $7,000 ($8,000 if 50 and over) to any combination of these IRAs. We can help you make the right choices – Reach out to us at Crescent Harbor. ? #TaxPlanning #WealthManagement #FinancialAdvisor #HNWTaxPlanningTips #financialplanning Crescent Harbor does not provide tax advice. Please consult your tax advisor.

If you gave money directly from your IRA to a qualified charity in 2024 and you were at least 70 ? , this is likely a non-taxable distribution (up to $105,000) called a Qualified Charitable Distribution.?But, be aware the 1099-R that you receive regarding this distribution does NOT have a code to indicate this was a QCD.?You must let your accountant know so it is reported correctly on your 1040 and you get the proper tax savings. ? #TaxPlanning #WealthManagement #FinancialAdvisor #HNWTaxPlanningTips #financialplanning Crescent Harbor does not provide tax advice. Please consult your tax advisor.

One of the most rewarding aspects of wealth is the ability to make a difference. Charitable Giving is an excellent way to create a legacy that reflects your values and supports the causes that matter to you.?There are a variety of ways to integrate philanthropy into your legacy plan https://lnkd.in/gsM3xbig ? #legacyplanning #estateplanning #charitablegiving

One of the most rewarding aspects of wealth is the ability to make a difference. Charitable Giving is an excellent way to create a legacy that reflects your values and supports the causes that matter to you.?There are a variety of ways to integrate philanthropy into your legacy plan https://lnkd.in/gsM3xbig ? #legacyplanning #estateplanning #charitablegiving

Today, we honor the leadership, vision, and resilience of our nation’s presidents—qualities that also play a key role in financial success! Just like great leaders plan for the future, a solid financial strategy can help you achieve your long-term goals. Enjoy the day, reflect on the wisdom of the past, and remember—the best investment you can make is in your future! ???? #PresidentsDay #FinancialFreedom #PlanForTomorrow

One of the most important aspects of legacy planning is ensuring your children understand the wealth they will inherit and the responsibilities that come with it. A well-structured Family Meeting provides an opportunity to align your family’s values and prepare the next generation for the future. These discussions can foster understanding, create a shared vision for the future, and avoid misunderstandings that could arise when wealth is passed down. Read more at https://lnkd.in/gsM3xbig #legacyplanning #estateplanning #charitablegiving #financialplanning

Maximizing Your Legacy: A Guide to Wealth and Legacy Planning When it comes to building and preserving wealth, many of us focus on the accumulation of assets and investment strategies. But one key aspect that often goes overlooked is legacy planning. How do you want your wealth to be distributed? What impact do you want to leave behind? What steps should you take to ensure that your assets are passed on in the most efficient and meaningful way? These questions are vital to ensuring your legacy lives on for future generations and support the causes you care about. Read more at:? https://lnkd.in/gj8WVCch #legacyplanning #estateplanning #wealthmangement #financialplanning

High-net-worth individuals understand that success is about strategy, not chance. January is the time to review your portfolio, optimize your tax strategy, and align your investments with your goals. Let's design a customized plan for your financial future. #WealthManagement #HNWPlanning #2024FinancialSuccess

#mlkday

Start 2025 Strong with Crescent Harbor Private Wealth! Join us for an evening of drinks, apps, and setting your financial goals in motion. Let's make 2025 the year of financial confidence! Date: Tuesday, January 21 Time: 6:00 PM Location: 30 Montgomery Street, Suite 970, Jersey City, NJ #FinancialFreedom #WealthManagement #StartStrong2025 #FinancialGoals #CrescentHarbor #MoneyMatters #SecureYourFuture #FinancialPlanning