Mike Durso’s favorite content from the past quarter
- ShoreHaven Wealth Partners
- Aug 7
- 6 min read
Updated: Aug 11
Mike Check
Mike Durso’s favorite content from the past quarter
At ShoreHaven Wealth Partners, curiosity is part of our DNA; no one embodies that more than our founding partner and CEO, Mike Durso. Lately, Mike’s been diving into content that pushes the boundaries of how we connect, lead, and grow. Two recent standouts:
📘 1929: Inside the Greatest Crash in Wall Street History--and How It Shattered a Nation by Andrew Ross Sorkin - A New York Times Notable Book of 2025 Named a BEST BOOK OF 2025 by TIME, The Economist, Air Mail, and Bloomberg. From the bestselling author of Too Big to Fail, “the definitive history of the 2008 banking crisis,” (The Atlantic) comes a riveting narrative of the most infamous stock market crash in history—one with ripple effects that still shape our society today. Read it here.
🎧 Risk of Ruin Podcast - Trading Games 10/17/2025 - Kris Abdelmessih writes the Moontower newsletter which is required reading for any edge seeking generalist who wants to learn about the world of volatility. Kris got his start as a trader over 20 years ago with Susquehanna. He talks about getting the job, SIG’s training program, and the “degenerate atmosphere.” Kris also talks about his career where he moved from pit to pit, and then ultimately became a portfolio manager at a vol focused hedge fund. Listen here.
Nik's News
Tax and Wealth Updates from Nik Agharkar
A Quarterly Tax Checklist (W2 Earners + Business Owners)
Wealth Advisor and Tax Attorney Nik Agharkar reminds clients that tax planning is a year-round endeavor. Follow him at @nikagharkar on social media to keep up with the latest on how you can save on taxes. Instead of treating taxes like a once-a-year fire drill, we prefer a quarterly cadence, small adjustments done four times a year usually beat heroic moves in December.
For W2 Earners
1) Tune your retirement contributions (401(k), 403(b), 457)
Re-check your deferral rate each quarter so you actually hit your annual target.
If you changed jobs, got a raise, or have multiple plans, this is where people accidentally underfund.
If you are eligible for catch-up contributions, make sure they are turned on and being used.
2) Re-check your HSA plan (if you have a high-deductible health plan)
Confirm you are on track for the annual HSA max and that payroll deductions are set correctly.
If you can afford to pay medical costs out of pocket, keep receipts and let the HSA grow.
Treat it like a long-term asset, not just a spending account.
3) Review your taxable investments for loss and gain planning
Look for tax-loss harvesting opportunities when markets are volatile.
Losses can offset capital gains, plus up to $3,000 of ordinary income per year, with the rest carrying forward.
Also check whether you are sitting on unintended gains, especially after rebalancing or trimming positions.
4) Do a “penalty check” on withholding and estimates
Big underpayments can trigger penalties, even if you pay the full balance by April.
Each quarter, confirm your withholding matches your reality, especially if you have RSUs, bonuses, or meaningful investment income.
If needed, adjust W-4 withholding (fastest lever) or update estimated payments.
For Business Owners
1) Retirement plan check (and deadlines you cannot ignore)
Each quarter, confirm you are funding the right type of plan for your income level and goals (Solo 401(k), SEP, defined benefit/cash balance).
If you are considering starting a plan, do not wait, some plans have adoption deadlines that matter even if funding happens later.
2) Depreciation and Section 179 planning (buy with intention)
Before making equipment, vehicle, or improvement purchases, sanity-check the tax impact.
Section 179, bonus depreciation, and standard depreciation all have trade-offs depending on profit, entity type, and future plans.
Quarterly review keeps this from becoming a rushed year-end decision.
3) Entity structure and compensation review
Each quarter, pressure-test whether your structure still fits where the business is going.
S-corp owners should revisit “reasonable compensation” and owner distributions as income changes.
If the business is scaling, consider whether alternative structures are worth discussing for the next tax year.
Lombardi's Planning Corner
by Michael Lombardi
A Quarterly Tax Checklist (W2 Earners + Business Owners)
Wealth Advisor and Tax Attorney Nik Agharkar reminds clients that tax planning is a year-round endeavor. Follow him at @nikagharkar on social media to keep up with the latest on how you can save on taxes. Instead of treating taxes like a once-a-year fire drill, we prefer a quarterly cadence, small adjustments done four times a year usually beat heroic moves in December.
For W2 Earners
1) Tune your retirement contributions (401(k), 403(b), 457)
Re-check your deferral rate each quarter so you actually hit your annual target.
If you changed jobs, got a raise, or have multiple plans, this is where people accidentally underfund.
If you are eligible for catch-up contributions, make sure they are turned on and being used.
2) Re-check your HSA plan (if you have a high-deductible health plan)
Confirm you are on track for the annual HSA max and that payroll deductions are set correctly.
If you can afford to pay medical costs out of pocket, keep receipts and let the HSA grow.
Treat it like a long-term asset, not just a spending account.
3) Review your taxable investments for loss and gain planning
Look for tax-loss harvesting opportunities when markets are volatile.
Losses can offset capital gains, plus up to $3,000 of ordinary income per year, with the rest carrying forward.
Also check whether you are sitting on unintended gains, especially after rebalancing or trimming positions.
4) Do a “penalty check” on withholding and estimates
Big underpayments can trigger penalties, even if you pay the full balance by April.
Each quarter, confirm your withholding matches your reality, especially if you have RSUs, bonuses, or meaningful investment income.
If needed, adjust W-4 withholding (fastest lever) or update estimated payments.
For Business Owners
1) Retirement plan check (and deadlines you cannot ignore)
Each quarter, confirm you are funding the right type of plan for your income level and goals (Solo 401(k), SEP, defined benefit/cash balance).
If you are considering starting a plan, do not wait, some plans have adoption deadlines that matter even if funding happens later.
2) Depreciation and Section 179 planning (buy with intention)
Before making equipment, vehicle, or improvement purchases, sanity-check the tax impact.
Section 179, bonus depreciation, and standard depreciation all have trade-offs depending on profit, entity type, and future plans.
Quarterly review keeps this from becoming a rushed year-end decision.
3) Entity structure and compensation review
Each quarter, pressure-test whether your structure still fits where the business is going.
S-corp owners should revisit “reasonable compensation” and owner distributions as income changes.
If the business is scaling, consider whether alternative structures are worth discussing for the next tax year.
Lombardi's Planning Corner
by Michael Lombardi
The IRS has announced updated retirement contribution limits for 2025. Here’s what you need to know to stay on track with your savings goals:
401(k), 403(b), 457 Plans & Thrift Savings Plan
The annual contribution limit is increasing to $23,500 (up from $23,000).
If you are aged 50 or older, the catch-up contribution remains $7,500, allowing a total of $31,000 in contributions.
A special higher catch-up limit applies to those aged 60–63, increasing to $11,250 in 2025 under SECURE 2.0.
RA Contributions
The annual contribution limit remains $7,000.
The catch-up contribution for those 50 and older is $1,000 in 2025, now subject to cost-of-living adjustments under SECURE 2.0.
With these changes, it’s a great time to review your retirement strategy and ensure you're maximizing your savings potential.
Thankful For Our Clients
As we move into a new year, we are especially thankful for the trust our clients place in ShoreHaven. Janice first met Larry Durso more than 15 years ago while she was deciding who could help support her for the rest of her life.
In her words, the most important phrase she likes to hear at this stage of life is, “I’ll take care of it.” That is how she describes her experience with ShoreHaven and our team.
Click above to watch Janice share her story and what it has meant to feel truly taken care of over the years.
Client story shared with permission. Testimonials reflect one client’s experience and may not be representative of all clients.
In Case You Missed It
We’re resending our latest updates in case you missed it.
You can find our most recent Form ADV Part 2A, describing our services and any material changes, here:
Additional details are available through the Investment Adviser Public Disclosure system.
If your financial goals or situation has changed, let us know, it may affect how we manage your portfolio. You can also review our current Form CRS and Privacy Policy (provided annually), and we’re happy to send a paper copy upon request.
We’re happy to answer any questions or send a paper copy upon request.
Sincerely,
The ShoreHaven Wealth Team
PS Check out our socials for the latest content:
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