Incredible way to avoid income tax👇 Jim Harbaugh, head coach of the University of Michigan football team, leveraged workplace benefits as a tax shelter. His 2016 contract included $14 million in life insurance which he can borrow against for tax-free income during his lifetime.

Tax planning is one of the most overlooked services not enough Americans pay for - especially young adults. If you're proactive about this, you'll probably save 5-6 figures on taxes over the course of your lifetime.

Check out this week's Chainletter! chainforest.substack.com/p/a-recession-…

Any time I go to sign up for some Web 3 service that is supposedly (finally) getting real adoption, the new-user flow is so convoluted and bad it would have gotten you shot out of a fucking cannon into the Bay if you'd shipped that shit at Facebook.

Donor-Advised Funds are a great way to minimize your tax liability and still make a difference in your community. It's one of the most popular tax-strategies accessible to every investor. Sharing more about DAFs below so you can use this strategy moving forward!

Check out this week's Chainletter! Atomic N°8: What Does Brand Building In Web3 Look Like?, by @chainforest_dao chainforest.substack.com/p/atomic-n8-wh…

Dropping a stock and crypto tax calculator. Drop a 👋🏼 if you want it sent to you

Excited to release our comprehensive tax research report, "The Ignorance Tax: Why Retail Investors Are Likely to Overpay in Taxes" and a free, stock & crypto tax calculator. Below is a summary of key insights and tools to help you save on taxes before it's too late 🤑

Our report offers in-depth analysis of retail investors and their little-to-no tax savviness. bit.ly/3UZM9cE Our free calculator provides an estimated tax bill and a list of potential tax optimization opportunities. bit.ly/3hovqC9

Now onto the findings ... #1: Very few Americans have a tax plan. Most Americans don't have any tax strategy and don't feel confident optimizing taxes by themselves. This lack of awareness and intelligence leads to overpaying in taxes and missing out on key saving strategies.

#2: Americans don't know if they're making money on their investments. Tracking investments, especially when it's across asset classes and platforms, is incredibility difficult. Investors also don't even know the difference between FIFO and HIFO.

#3: A small percentage of investors rely on their tax preparer for advice. While it's great that 28% rely on tax preparers for help, there's a good chance those accountants can't offer on-demand help. Most accountants are too busy with preparing to give consistent tax advice.

#4: Investors are more multi-asset and multi-platform than ever. While it's great that more asset classes are democratized for investors, they're exposing themselves to greater tax complexity. Just ask crypto investors how they feel about taxes!

#5: American’s’ idea of “tax planning” boils down to their 401(K).

#6: Most investors miss out on even the simplest tax strategies. Unfortunately, only a sliver of investors are taking advantage of long-term tax rates, qualified dividends, and charitable donations. These strategies alone can save 20%+ on tax bills for some.

Conclusion Retail investors are struggling to be tax-savvy on their own. More appropriate planning tools, the opportunity to connect with a financial advisor, and embedded finance features should all be top of mind for companies building apps for the modern investor.

If you're tired of doing taxes by yourself, come test out our hybrid AI-human-based tax solution! ai.getreconcile.com