How to have conversations with your clients to ensure everyone is feeling confident and happy around tax season.
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.
How to deliver value when having tax conversations with clients.
How to communicate effectively so that your clients can make informed decisions.
How to ensure you are providing rock-star level value to clients through offering appropriate and strategic tax planning.
This article is the 4th in a series of the 7 most common mistakes financial advisors make on tax planning with clients
