#Finterms Archives - BaldwinClarke Independent Wealth & Business Advisory

Category: #Finterms

#Finterms: Tax-Loss Harvesting

Tax-loss harvesting is a strategy employed by investors to minimize capital gains taxes by selling losing investments to offset gains. This practice involves intentionally selling investments that have experienced a loss in order to offset the capital gains realized from other investments. By doing so, investors can reduce their overall taxable income and, consequently, lower their tax liability.

#Finterms: Massachusetts Millionaire’s Tax

The Massachusetts millionaire’s tax is a 4% surtax on taxable income over $1,000,000. The tax became effective in 2023 and made Massachusetts one of the highest taxed states in the nation. Connecticut, Maine, New Jersey, New York, and Washington D.C. all have similar surtaxes.

#Finterms: What Methods are Used to Determine the Value of a Business?

In determining the economic value of an entity, a business valuation typically considers three main approaches: 1) an asset-based approach 2) an income approach, and 3) a market approach. Depending on the profile and condition of the business being valued, one or all three of these approaches can be employed, but in the case of a profitable going concern business,...

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Categories

#Finterms: Tax-Loss Harvesting

#Finterms: Massachusetts Millionaire’s Tax

#Finterms: What Methods are Used to Determine the Value of a Business?