Tax Birthdays and Milestones-Client Facing White Label
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Advisor Tax Mistake #7 – Client’s refuse to provide tax documents
This article is the 1st in a series of the 7 most common mistakes financial advisors make on tax planning with clients
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State Tax Tips for Financial Advisors
When Congress changes federal tax law, it always dominates the headlines, but the IRS' portion of a taxpayer’s income is only part of the story. Every state has their own unique set of tax rules, and it is not enough for financial advisors to be versed in the rules of their home state. Eight states have no individual income tax. For the other states, there are 42 different sets of rules on what type of income is taxed, how it is taxed, at what rate it is taxed and whether where you work or where you live is more important. Then one could wade into local taxes, with nearly 5,000 jurisdictions in 17 states imposing a local income tax, which can treat nonresidents differently than residents.
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How to Use a Client’s Tax Return to Map Financial Success
When advising clients on taxes financial advisors must remember that education and action are both critical.
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