Massachusetts ‘Millionaires’ Tax Applies to Sudden Wealth Events
What is the Massachusetts millionaires tax? Since 2023, Massachusetts applies a 4% surtax is applied to taxable income and capital gains over $1M (since indexed
Tax planning and wealth building strategies from Kristin McKenna, CFP®. Tax-conscious wealth planning is critical for any high-income taxpayer: asset location and tax-efficient investing, stock option and equity compensation exercise and sale strategies, qualified small business stock, retirement income tax planning and bucketing strategies, deferred compensation, employer plans for business owners, charitable tax planning and donor-advised funds, reducing taxable income, changes in tax law.
What is the Massachusetts millionaires tax? Since 2023, Massachusetts applies a 4% surtax is applied to taxable income and capital gains over $1M (since indexed
How stock options are taxed depends on the type of options you have and your sale and exercise strategy. However, the general rules can change
Investors often ask: should I be making nondeductible IRA contributions? In the majority of cases the answer is no. Why non-deductible? Because many taxpayers earn
If you have incentive stock options, you’ve probably heard of the alternative minimum tax (AMT). Essentially, the alternative minimum tax is a prepayment of taxes.
Key takeaway: If you have qualified small business stock you can exclude up to 100% of the capital gain from federal taxes. In most cases,
Updated for 2026. Donating appreciated stocks to charity can be a great way to maximize your tax benefits and charitable goals. When you donate cash
What is a taxable brokerage account? A brokerage account is a non-retirement investment account. Essentially, a brokerage account is the opposite of a retirement account
What is capital gains tax? What is capital gains tax? When you sell an asset like a stock or a home, your gain could be
The IRS released the 2026 401(k), 403(b), and SEP IRA contribution limits. There are changes to nearly all the contribution and income limits, including new
The “One Big Beautiful Bill Act” (OBBB Act), signed into law by President Trump on July 4, 2025, represents a massive overhaul of federal tax