Click Here To Listen To The Retirement Tax Services Podcast

Tuesday, Jun 07, 2022

Advisor Tax Mistake #2-Not Getting Referrals from COIs

“I send tons of clients to my local CPA, but she never sends me a single client back!” As an advocate of advisors working closely with tax preparers, and as a tax preparer myself, I hear the complaint of unreciprocated referrals all the time from financial advisors.

CONTINUE READING
Tuesday, Jun 07, 2022

Advisor Tax Mistake #1-Getting Bad Tax Advice

When I last Googled “IRS RMD Table,” the first result that popped up was a link to an active IRS web page with the outdated RMD information. Millions of people who clicked on the first link provided by Google were given, by the IRS, incorrect information. Countless other examples of incorrect tax information, ranging from capital gains rates to Medicare premiums to gifting limits and especially the math on Roth conversions can be found prominently displayed across the internet, including on some of the most reputable websites.

CONTINUE READING
Thursday, Jul 07, 2022

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.

CONTINUE READING
Thursday, Aug 11, 2022

Midyear Tax Planning for Financial Advisors

There is a fantastic opportunity for advisors to add value for their clients by checking in midyear and reviewing a pay stub to make sure their clients are on track.

CONTINUE READING
Thursday, Nov 03, 2022

Tax-Efficient Family Gifting: An Advisor’s Guide

A powerful strategy to discuss with clients interested in gifting is funding Roth accounts on behalf of children or grandchildren.

CONTINUE READING
Thursday, Nov 10, 2022

Advisors’ Most Asked Questions on Working With Tax Professionals

Bringing on another professional to assist in planning can be daunting, but it can add value for clients.

CONTINUE READING
Wednesday, Nov 16, 2022

The Tax Planning Process Every Advisor Can Implement

The default approach to tax preparation does little to ensure tax planning, and with it tax savings, are actually happening. This creates a huge opportunity for financial advisors who are willing to be proactive.

CONTINUE READING
Tuesday, Jan 31, 2023

Is it too late to convert to a Roth?

There is also no earned income requirement to convert to a Roth. As long as you have a balance in an IRA, in theory, you can keep converting to a Roth as long as you like.

CONTINUE READING

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.

Contact Us