myStockOptions.com has expert resources on financial and tax planning for stock compensation and company shares at the end of 2023 and the start of 2024.
(PRUnderground) November 28th, 2023
Year-end is a key time for financial and tax planning among the millions of employees in the United States who have stock compensation (such as stock options and restricted stock units), participate in an employee stock purchase plan (ESPP), and/or have holdings of company shares. In 2023, year-end financial and tax planning can be tricky because of uneven stock markets, sudden volatility, and economic uncertainty.
To help, myStockOptions.com has expert resources on financial and tax planning for stock compensation and company shares at the end of 2023 and the start of 2024. This content is available in the website’s section Financial Planning: Year-End.
Why Year-End Planning Is Important For Stock Comp
At year-end, multi-year planning is especially valuable with stock compensation. “You can control the timing of stock sales and option exercises, and you know when restricted stock/RSUs will vest,” observes Bruce Brumberg, the Editor-in-Chief of myStockOptions.com. “Uneven stock markets, spikes of volatility, and economic uncertainty make the need for expert guidance even more important.”
Timely year-end guidance is particularly crucial for people who are considering option exercises or stock sales at the end of 2023. “Employees with equity grants and company shares should be aware of the 2023 and 2024 thresholds for higher tax rates on compensation income and capital gains, the phaseouts for various tax credits, and the Medicare surtax on investment income,” Mr. Brumberg notes. “They may want to consider keeping their income below those known thresholds, when possible. If they are convinced their tax rates will be higher in 2024 and beyond, they may want to defer deductions into the future and accelerate income into 2023.”
Employees who tax-loss-harvest by selling company stock that has declined while they hold it must be aware of the rules on wash sales, warns Mr. Brumberg. “Under IRS rules, the purchase of new shares within 30 days of the sale at a loss can result in a forced deferral of that capital loss until a future year,” he explains. “A purchase can include an RSU vesting, stock option exercise, or ESPP purchase.” Employees and executives must also avoid insider trading, such as selling company stock when they know material nonpublic information.
Year-End Webinar Covers Key Financial And Tax Strategies
myStockOptions.com is also holding a special webinar on year-end financial and tax planning:
– Nov. 30 (1pm–2:40pm ET, 10am–11:40am PT)
– 2.0 CE credits for CFP, CPE for CPAs (live webinar only), EA (live webinar only), CPWA/CIMA, CEP/ECA; 1.5 CE credits for CFAs (self-determined)
Registration, panelist details, and agenda are available at the myStockOptions Webinar Channel, where past myStockOptions webinars are also available on demand.
Disclaimer: The news site hosting this press release is not associated with myStockOptions.com. It is merely publishing a press release announcement submitted by a company, without any stated or implied endorsement of the information, product or service. Please refer to a tax attorney or CPA for tax advice.
With award-winning content and tools, myStockOptions.com is an independent and unbiased source of expertise on stock options, restricted stock, restricted stock units, performance shares, stock appreciation rights, and employee stock purchase plans. We specialize in making complex stock compensation topics clearly understandable and relatable, in plain English and with an engaging style. Our audience includes:
– stock plan participants
– financial planners, wealth advisors, and CPAs
– professionals in stock plan administration, human resources, compensation, and finance
– attorneys, corporate counsel, and other members of legal staff
In addition to individual memberships, we also offer corporate services.
Original Press Release.