Advisor Tax Mistake #7 – Client’s refuse to provide tax documents
This article is the 1st in a series of the 7 most common mistakes financial advisors make on tax planning with clients
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Advisors’ Guide to Capital Gains Taxes and Tax-Loss Harvesting
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.
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Backdoor Roth Contributions – What Could Go Wrong?
For some taxpayers, so-called “backdoor” Roth contributions can be a great way to fill an investment bucket that will grow tax free. Tax free is everyone’s favorite kind of money but the […]
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Do You Actually Have An Inherited IRA?
Words matter. At times distinctions may seem trivial, but how we think about certain topics can influence the action we take. When it comes to being the beneficiary of an […]
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5 Reasons Software Can’t be Trusted
“Well, the software let me do it.” This sounds more like something you’d hear from siblings fighting than from a professional. Unfortunately, taxpayers, tax preparers, and financial advisors all have […]
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There is No Such Thing as a Tax Write Off
A write-off is an incredibly misleading nickname for an expense that can help lower your taxable income. It is not a magic trick that suddenly makes something free.
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How to Use a Client’s Tax Return to Map Financial Success
When advising clients on taxes financial advisors must remember that education and action are both critical.
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“I have a tax preparer, so I have a tax planner.”
No one goes to an urgent care center complaining that the Family Doctor can’t also do open-heart surgery. We all understand that “doctor” is a general term. Depending on […]
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What’s Your IRA Really Worth?
Background: Tax-deferred Accounts Tax-deferred retirement accounts, like IRAs and traditional 401(k)s, are only one piece of the retirement plan puzzle. While there are other important pieces, these accounts tend to […]
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