Curated Links: 01/29/2024

IRS has collected more than $520M in back taxes from delinquent millionaires so far

The agency credited the passage of the Inflation Reduction Act for its stepped-up ability to pursue high-income, high-wealth individuals who owe money.

Source: CNBC

What Are Capital Gains Taxes?

How the Internal Revenue Service treats the gains will depend on your filing status, taxable income and, most important, how long you owned the asset.

Source: WSJ

2023-2024 Tax Brackets and Federal Income Tax Rates

There are seven federal income tax brackets for 2023 and 2024. Your tax rate is determined by your income and tax filing status.

Source: NerdWallet

5 easy ways to lower your taxable income in 2024

The amount you pay the IRS each year is determined by your tax bracket. That, in turn, is based on your taxable income and filing status.

But there are several ways you can lower your taxable income without taking a pay cut — from putting more into retirement to deducting student loan interest.

Source: CNBC

Net Investment Income Tax: Impact on High-Net-Worth Portfolios

Strategic solutions for high earners to minimize net investment income tax and protect their wealth.

Source: US News

Peter Donisanu, ChFC®, AIF®

Peter Donisanu, ChFC®, AIF®, is Chief Wealth & Tax Strategist at Franklin Madison Private Wealth and previously served as a senior investment strategy analyst at Wells Fargo Investment Institute, where he contributed to portfolio guidance for institutional and private wealth clients. He works with high-net-worth retirees and pre-retirees on retirement planning, tax-aware wealth strategies, equity compensation, and sudden wealth preservation, helping clients approach major financial decisions with clarity, confidence, and peace of mind.