Month: August 2025
Tax changes under the One Big Beautiful Bill Act
By Mark Sipos, LFG Tax Director The passage of the One Big Beautiful Bill Act has been one of the most discussed topics coming out of Washington in the past few weeks. LFG Tax Services is diving into the new legislation, deciphering what it means for our clients, and keeping a close watch on tax planning opportunities and IRS interpretations of some of its components. Here are a few highlights we think will be of interest to you: The TCJA rate schedules for tax years beginning after December 31, 2017, are now permanently extended, as well as several key parts of the 2017 Act. No Tax on Tips: A temporary deduction of up to $25,000 in tip income for workers in “customarily tipped” occupations. Individuals phased out for MAGI above $150,000 and Joint filers at $300,000. Expires December 31, 2028. No Tax on Overtime: Temporary above-the-line deduction of $12,500 (single) / $25,000 (joint). Deduction phases out at $150,000 of MAGI (single) / $300,000 (joint), expiring at the end of 2028. The lifetime estate tax exemption has been permanently increased to $15 million (indexed for inflation) per US person. The Act stopped short of a full repeal and would essentially extend the current generous lifetime estate tax exemption. The limit means that only the wealthiest 1% or fewer taxpayers would ever face a tax on their estate after death. The qualified business income deduction under IRC Section 199A is now made permanent at 20%. The phase-in of the limit
Harness the Superpower of Compounding While Reducing “Tax Drag”
By Chad Roope, CFA ®, Chief Investment Officer Compounding is the superpower of investing. Following the Rule of 70, an investment averaging 10% per year will double in just seven years. That’s the kind of growth that builds real wealth over time. But there’s a catch. Anything that slows compounding, even slightly, can have a dramatic impact on your long-term results. One of the biggest threats to that is unnecessary taxes. In the chart below, a JP Morgan analysis shows that a modest 1% annual “tax drag” on a $1 million investment in the U.S. stock market from 2014 to 2024 would have reduced its value by $326,000. At 2%, the loss jumps to $625,000. That’s money that could have been working for you. We all must pay our fair share of taxes. However, we should be very mindful about not paying extra. At Lineweaver, we employ proven, proactive strategies to help reduce unnecessary taxes so you can keep more of your gains compounding year after year. Systematic Tax Loss Harvesting Throughout the course of the year, some investments rise while others fall. That’s diversification for you. But we can help with taxes and get the benefits of diversification at the same time. For example, if a particular company hits a rough patch and we have a loss in the stock in a taxable account, we can sell the stock and harvest the loss to help with taxes. We can then reinvest the proceeds in a different company that we either like better or
Simple ways to spot, avoid and report scams
At Lineweaver, your financial security is one of our highest priorities, and that means staying ahead of potential threats. We are constantly seeking credible, trusted resources to help protect our clients, and when we find information worth sharing, we make it a point to get it into your hands. That’s why we want to share this “Scam Squad Guide” developed by Cuyahoga County’s Department of Consumer Affairs. This valuable resource offers clear, practical strategies to help you recognize, avoid, and report scams before they can cause harm. By understanding how scams work and having a plan in place, you can take an important step toward safeguarding both your personal information and your financial accounts. To read the guide, follow this link: “Scam Squad Guide: Simple ways to spot, avoid and report scams” For those of you who live outside of the county, reach out to your county officials for the appropriate contact information to report a
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Case studies are intended to illustrate the types of financial issues faced by actual clients. They should not be construed as a testimonial for or endorsement of Lineweaver Wealth Advisors. They do not represent the experience of any advisory client. Each client’s situation is different, and their goals may not always be achieved. Lineweaver Wealth Advisors, LLC, is not engaged in the practice of law or accounting. Tax information provided is general in nature and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Tax rules and regulations are subject to change at any time.
Crain's Cleveland Business is a print and online newspaper delivering local business news and information to Cleveland's business executives, which is published by Crain Communications Inc. The Crain's list may employ different methodology than described above for similar designations granted in other years. No clients were consulted and no fees were paid to determine the winners; the award is based on assets under management. Neither the participating candidates nor their employees pay a fee in exchange for inclusion on Crain's List. However, recipients may pay a fee to Crain, an affiliate, or an unaffiliated third party in exchange for plaques or article reprints commemorating the designation. The publication should not be construed by a client or prospective client as a guarantee that they will experience a certain level of results if the recipient is engaged, or continues to be engaged, to provide investment advisory services; and should not be construed as a current or past endorsement of the recipient by any of its clients. In 2025, 2024, 2020 and 2019 Lineweaver Wealth Advisors (“LWA”) was ranked in the Top 25 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. In 2023, LWA was ranked in the Top 15 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. In 2021 and 2022, LWA was ranked in the Top 20 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. For all years the awards were based on assets under management.
Nominees in the Top 100 Magazine selections are not required to pay a fee for consideration. Individuals appearing in half and full page editorials, have paid a fee for additional exposure. Candidates for consideration are selected utilizing proprietary software. Top 100 Magazine analyzes the results before making their final selections. Financial Professionals and/or wealth managers must also met the following criteria; 1. Be registered with the SEC as a registered investment advisor or a registered investment advisor representative; 2. Have no more than 1 filed complaint with a regulatory agency; 3.Never been convicted of a felony. Third-party rankings and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the Financial Professional by any client nor are they representative of any one client's evaluation. Participants for the Top 100 in Finance appearance were reviewed in 2022, and recognized in March of 2023. Lineweaver Financial Group appeared in Money magazine in 2015, Fortune Magazine in 2016, WTAM 1100 in 2018, Forbes in 2020, Channel 5 in 2020, and Top 100 in Finance in 2023.
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