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.
Unlike income from working a job or operating a business, which is subject to tax as it is earned, capital gains and losses are unique in that taxpayers can choose when to recognize a taxable transaction.Read More
Assuming that when you have income, you also have to pay tax, definitely keeps you on the safe side of life. Tax-free income seems nonexistent. However, that assumption is […]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.