Advisors’ Most Asked Questions on Working With Tax Professionals
Every financial decision has a tax impact. This simple truth is particularly meaningful for financial advisors because it means that every recommendation they make to clients has a tax impact. While some financial advisors have certificates or training that includes some level of tax knowledge, the vast majority are not certified public accountants or enrolled agents. They are not themselves tax professionals who can or want to, prepare tax returns. This leaves most financial advisors searching for ways to effectively collaborate with tax professionals in service of their own clients.
Clients Don’t Care About Roth vs. Traditional IRAs. So What?
Many financial advisors will object to the headline of this article, but advisors represent an incredibly small percentage of all taxpayers. Very few taxpayers care to be able to describe the difference between a Roth IRA and a traditional IRA. What they want to know is which option is right for them and what action they should take.Read More
Advisor Tax Mistake #4 – Doing Tax Planning One Year at a Time
This article is the 4th in a series of the 7 most common mistakes financial advisors make on tax planning with clientsRead More
Yes! As Little As $600 Is Reported
It wasn’t a secret this was coming. But, it may still come as a surprise to many taxpayers. Beginning on January 1, 2022, there was a MASSIVE reduction in the […]Read More
The information on this site is for education only and should not be considered tax advice. Retirement Tax Services is not affiliated with Shilanski & Associates, Jarvis Financial Services or any other financial services firms.
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