HT2 CLIENT NEWSLETTER
Season’s Greetings! 
At this holiday season, our thoughts turn gratefully to those who have made our success possible. 
Here’s to joy and good cheers this season!
May you enjoy the holidays with your loved ones.

HT2 Office Holiday Hours

Friday, December 23rd: Closing at Noon
Monday, December 26th: Closed
Friday, December 30th: Closing at Noon
Monday, January 2nd, 2023: Closed

TAKE CONTROL OF YOUR LEGACY: PLANNING FOR GENERATIONAL WEALTH TRANSFER

The Silent Generation and Baby Boomers are incredibly fortunate generations—and so might be their heirs. Cerulli’s U.S. High-Net-Worth and Ultra-High-Net-Worth Markets 2021 report predicts these generations will transfer $72.6 trillion in assets to heirs and $11.9 trillion to charities through 2045.

That’s a lot of money, and it presents a unique opportunity for Gen Xers and Millennials to secure their financial futures. But it’s important to remember that this wealth won’t just magically appear. It will take planning and communication between the generations to transfer it smoothly.
WHAT A DIFFERENCE 6 MONTHS MAKES
An Alternate Valuation Date Can Reduce Estate Tax Liability

If you have money invested in the stock market, you’re well aware of potential volatility. Needless to say, this volatility can affect your net worth, thus affecting your lifestyle. Something you might not think about is the potential effect on your estate tax liability. Specifically, if the value of stocks or other assets drops precipitously soon after your death, estate tax could be owed on value that has disappeared. One strategy to ease estate tax liability in this situation is for the estate’s executor to elect to use an alternate valuation date.
INFLATION MEANS YOU AND YOUR EMPLOYEES CAN SAVE MORE FOR RETIREMENT IN 2023

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for pensions, as well as other qualified retirement plans for 2023. The amounts increased more than they have in recent years due to inflation.
HT2 2023 FEE UPDATE

After much deliberation, we at Hamilton Tharp have deemed it necessary to adjust our rates in order to keep pace with ongoing changes in our industry and allow our firm to maintain and provide quality staff and services to serve people like you, our clients, at the highest level. Beginning in the new year, January 1, 2023, there will be a 10% increase in the prices of our services. This was a tough decision to make, and we understand how it affects our clients. Therefore, we thank you for your ongoing support and trust that these changes will help us continue providing you with premium quality and service. We are looking forward to continuing our relationship with you and recognize that you have a choice and have placed your financial affairs in our hands.
AVAILABLE NOW!
CLICK BELOW FOR ACCESS TO OUR NEW TAX GUIDE!
We encourage you to check out our website for more great articles!  follow us on LinkedIn, like us on Facebook, and Twitter for even more updates!
NEWS YOU CAN USE
Pay your HT2 invoice HERE
HT2 Resources Page - We publish articles there too! READ MORE HERE 
2022-2023 Tax Planning Guide READ MORE HERE
Taxpayers should be on the lookout for new scams  READ MORE HERE
E-signature for individual tax returns available to our clients VIDEO PRESENTATION