September 2022 – Analyzing a Tax Return
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Are You Ready For The January 18th, 2022 Tax Deadline?
No, the IRS is not trying to balance out the last 2 years where the deadline to file was extended into July (2019) and May (2020). In fact, every year […]
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Advisor Tax Mistake #6 – Your tax knowledge isn’t getting you more clients
This article is the 2nd 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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