Wilson Hand LLP

Being a part of our Strategic Partner program helps you grow your business. Our program provides Wilson Hand's team with expertise, networks, and resources. Collaborating with us helps you access guidance on financial management, proprietary and innovative tax mitigation strategies, strategic planning, and cutting-edge technologies. Our aim is to help you enhance your credibility, establish an additional revenue stream, increase your business opportunities, and improve market positioning. Last year was a record-breaking year, and we are positioning our strategic partner program to grow even larger this year. Check out our Unlocking Opportunities blog post here on LinkedIn. We would love to reserve a seat for you at the conference table. #UnlockingOpportunities #KnowLikeTrust #StrategicPartners #BusinessBuilding

At Wilson Hand, our core values of integrity, transparency, client-centric advocacy, and innovation are the bedrock of our strategic partnership program. These principles guide us in building trust and delivering exceptional value to our clients. By aligning our values with those of our partners, we create a collaborative environment focused on long-term success. We believe that this shared commitment to excellence is essential for developing innovative solutions and achieving exceptional outcomes. #Partnership #WilsonHand #CoreValues #ClientCentric #Innovation #FinancialPlanning #LegalAdvice

Rethink Your Retirement Strategy: Discover the Power of Indexed Universal Life Brad Kay, a seasoned attorney at Wilson Hand, explores a sophisticated investment vehicle that could redefine your retirement planning: Indexed Universal Life (IUL) policies. Discover how IULs can offer substantial tax benefits and flexible investment options, making them a compelling alternative to traditional retirement accounts. Read full article at link below: https://buff.ly/3XiQwnf #WilsonHand #ThoughtLeader #IUL #IndexedUniversalLife #LifeInsurance #TaxAdvantagedInvestments #RetirementPlanning #WealthManagement #RothIRAAlternative #TaxFreeGrowth #HighNetWorth

IRS Makes Significant Progress in Modernizing Services with Increased Funding The IRS announced major strides in improving taxpayer services and technology thanks to funding from the Inflation Reduction Act (IRA). Here are some key highlights: Enhanced Online Accounts: - Individual Online Account now provides features like retrieving tax information, updating IP PINs, viewing audit status, using a lien payoff calculator, and managing installment agreements. - Business Tax Account is now available in Spanish and allows viewing balance and making payments in one place. Expanded Electronic Filing: - More business forms can now be filed electronically, including amended returns. - The Document Upload Tool has reached 1 million submissions, allowing secure digital responses to IRS notices. Mobile-Friendly Forms: - Over 30 common forms are now accessible for mobile devices. Redesigned Notices: - 100 of the most common notices are redesigned to be clearer and easier to understand. Increased In-Person Assistance: - Taxpayer Assistance Centers saw a 37% increase in face-to-face interactions. - Special Community Assistance Visits are offered in underserved areas. Modernized Technology Infrastructure: - The IRS is scanning paper returns electronically and replacing outdated equipment. - Online Account payment plans are now available for tax professionals. - HR systems and network bandwidth are being upgraded for improved employee and taxpayer experience. These improvements are part of an ongoing effort to transform the IRS and provide taxpayers with better service options. More enhancements are expected for the 2025 filing season. Full details available on: https://buff.ly/3LHj83h #WilsonHand #IRSTaxRelief #ImprovedTaxServices #ModernizingIRS #FileTaxesEasier #TaxpayerHelp

Maximize your wealth and minimize your tax liability.

After a lifetime of working hard and saving for your future, you notice that the future has somehow become the present. If you want to retire soon, these steps will give you the peace of mind to retire confidently. No one wants to worry about all of the “what ifs” accompanying retirement. While the future may hold uncertainties, these proactive steps can help ensure you enjoy the retirement you’ve worked so hard to achieve. With the right planning, your retirement can be a time of peace, comfort, and the freedom to pursue your passions without financial worries. Remember, it’s never too early or late to start planning—your future self will thank you. #WilsonHand #retirementplanning #financialfreedom #retirement #financialadvice #retirementgoals #financialplanning

Business Exit Planning: A Strategic Approach to Maximize Your Legacy As a business owner contemplating retirement, you've built a valuable asset. Selling your business presents a significant financial opportunity, but navigating the complexities of a sale requires careful planning. Wilson Hand can be your trusted advisor in this crucial transition. Our team of tax mitigation specialists provides: Comprehensive Exit Strategy Development: We collaborate with your existing advisors to craft a tax-efficient exit plan that maximizes the value you receive after sale. Proactive Tax Management: Minimize your tax burden through strategic planning, ensuring you retain a greater share of your business's success. Streamlined Transaction Process: Our expertise reduces the administrative burden, allowing you to focus on critical post-sale decisions. Wilson Hand understands the importance of a successful exit for business owners like you. We'll guide you through the process with meticulous attention to detail and a commitment to your financial well-being. Schedule a confidential consultation today to discuss your specific exit strategy and discover how Wilson Hand can help you achieve a secure retirement. #businessownership #strategicplanning #taxoptimization #exitstrategy #WilsonHand

Tax Updates for 2024: What You Need to Know! The IRS recently announced inflation adjustments impacting your 2024 taxes (filed in 2025). Here's a breakdown of some key changes that could benefit you: More Money to Keep: The standard deduction, which reduces your taxable income, is increasing for all filing statuses. This means you'll pay less in taxes or receive a larger refund. Married filing jointly: You'll see a bump of $1,500, bringing the standard deduction to $29,200. Single filers and married filing separately: Expect an increase of $750, with the new standard deduction being $14,600. Head of household: The standard deduction rises by $1,100 to $21,900. Tax Brackets Adjusted for Inflation: While the top tax rate remains at 37%, the income thresholds for the lower tax brackets have increased. This means you might qualify for a lower tax rate depending on your income. Bigger Earned Income Tax Credit (EITC): This credit helps low- to moderate-income workers and families. If you qualify with three or more qualifying children, the maximum EITC amount increases to $7,830 (up from $7,430). Additional Highlights: Increased Limits on Benefits: There are higher limits for benefits you might use, like pre-tax contributions to commuter benefits and health flexible spending accounts. More Leniency for Foreign Income and Estates: The foreign earned income exclusion, which allows you to exclude a portion of your foreign earnings from taxes, is increasing. Additionally, the estate tax exemption, which is the amount you can transfer to heirs tax-free, is also rising. Increased Gift Exemption: The annual gift exclusion amount, which is the amount you can give to someone tax-free each year, has gone up. No Change For: Personal Exemption: The personal exemption remains at $0. Itemized Deductions: There's still no limitation on itemized deductions, which can be beneficial if your total itemized deductions exceed the standard deduction. Stay informed! https://buff.ly/3FTUB7X #taxes #taxupdates #IRS #financialplanning #WilsonHand

Mastering the Negotiation: Insights from Phil Danielson at Wilson Hand Many of our clients negotiate the sale of their businesses as they prepare for their retirement. Such negotiations can be a source of immense stress, with significant financial stakes involved. Overcoming this fear is crucial, and there are several strategies that can help in this process. Here are some key points to consider: Preparation: Thorough preparation for a negotiation can significantly diminish fears. This involves researching your bottom line, understanding the needs and desires of the other party, and forecasting realistic outcomes. Adequate preparation builds confidence and reduces the ambiguity that often fuels fear. Reframing the Negotiation: Rather than viewing negotiations as a win-lose situation, it can be beneficial to see them as a cooperative process where both parties stand to gain. Shifting the focus to creative solutions may help reduce the fear associated with potential conflict or loss. Understanding Power Dynamics: Acknowledging that both parties hold power in a negotiation and that your power lies in the ability to walk away can help alleviate fear. This understanding empowers individuals to negotiate more assertively. Emotional Intelligence: Being aware of and managing emotions during a negotiation is crucial. This involves not allowing fear or anxiety to drive actions, but instead utilizing emotions strategically to influence the negotiation process. Seeking Support: If fear becomes overwhelming, seeking advice or guidance from a mentor, coach, or experienced negotiator can be incredibly beneficial. They can provide valuable insights and help bolster confidence. Focusing on Mutual Benefits: Shifting focus towards how both parties can benefit from the negotiation can help reduce fear. This redirects attention from potential loss to potential gain. Having a Plan B: Having a backup plan or alternative course of action in place can mitigate fear. Knowing there are other options if the negotiation doesn't go as planned can provide a sense of security. Being Assertive: Employing assertiveness without aggression can aid in overcoming fear. This entails clearly expressing needs and interests while respecting those of the other party. Learning from Experience: Each negotiation serves as a learning opportunity. Reflecting on past negotiations, identifying successful tactics, and learning from mistakes can help improve future negotiations and reduce fear. #ThoughtLeader #WilsonHand #Negotiations

Expand Your Client's Wealth Potential: The Wilson Hand Strategic Partnership Program Financial advisors, wealth managers, and tax strategists – looking to empower your clients to achieve their financial goals? The Wilson Hand Strategic Partnership Program strengthens your service offerings by providing your clients with access to our tax optimization expertise. Benefits for Your Clients: Maximize Wealth: Our tax mitigation strategies can help them keep more of their hard-earned money. Holistic Financial Planning: We address both investment and tax concerns for a well-rounded financial picture. Seamless Experience: Seamless Experience: We handle the legal intricacies of tax optimization, allowing you to focus on core financial planning Together We Achieve More: Partner with Wilson Hand to: Differentiate Your Practice: Offer a unique value proposition that attracts clients seeking comprehensive wealth management. Increase Client Satisfaction: Help your clients achieve financial security with confidence. Build Stronger Relationships: Demonstrate your commitment to their financial well-being. The Wilson Hand Difference: A collaborative approach focused on maximizing your client's wealth potential. Explore the Potential: Learn more about the Wilson Hand Strategic Partnership Program and discover how it can benefit your clients and propel your practice. #financialplanning #wealthmanagement #strategicpartnerships #taxoptimization #WilsonHand