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In recent years, financial advisors have increasingly embraced taxplanning as a core element of delivering value to clients. While common wisdom suggests that only CPAs, EAs, or attorneys are authorized to give tax advice, this is only strictly true in limited contexts, such as in promoting abusive tax shelters.
What's unique about Daniel, though, is how his firm has expanded its tax focus to include "in-house" tax return preparation for its clients as a one-stop shop, but actually outsources the tax preparation work itself to trusted CPAs that he pays out of his own revenue (rather than bringing this service fully in-house) so that he can focus his staff (..)
Taxes are a central component of financialplanning. Almost every financialplanning issue – whether it is retirement, investments, cash flow, insurance, or estate planning – has tax considerations, and advisors provide a great deal of value in helping clients minimize their overall tax burden.
Still others may choose a hybrid model, combining AUM fees with additional charges for other services like taxplanning. Pricing the impact of financialplanning can be challenging, because many of its benefits – like peace of mind – are intangible, compelling in value but difficult to match with an exact price.
So, whether you're interested in learning about building a profitable hyperfocused practice, implementing a marketing approach that reaches a firm's ideal target client, or adding value for clients by offering advanced taxplanning, then we hope you enjoy this episode of the Financial Advisor Success Podcast, with Anjali Jariwala.
podcasts.apple.com) Taxes A year-end taxplanning checklist. kindnessfp.com) How to think about taxes in early retirement. greatergood.berkeley.edu) The laws of financial health are pretty simple. marknewfield.substack.com) How to look for holes in your financialplan.
Welcome to the 432nd episode of the Financial Advisor Success Podcast! Seth is the founder of Heartwood FinancialPlanning, an advisory firm affiliated with PlanMember Securities Corporation that is based in Fresno, California, and oversees approximately $100 million in assets under management for 850 client households.
Over the last 60 years, the top Federal marginal tax bracket has steadily decreased from over 90% in the 1950s and 60s to 'just' 37% today. While it's true that the top marginal tax rate has decreased dramatically since the mid-20th century, the difference in the actual tax paid by most Americans has been far more modest.
What's unique about Griffin, though, is how he has grown his AUM to $200 million in five years (with a 70% margin in terms of earnings before owner compensation) by providing high-touch planning for business owners and real estate investors even though he doesn't charge a fee on these assets.
As December unfolds, it’s easy to overlook year-end taxplanning amid the holiday hustle. However, dedicating a few moments now can lead to significant savings come tax season. To help you retain more of your hard-earned money and reduce your tax liability, consider these five strategic moves before the year concludes.
This week, Orion announced they were making it easier for those in need of free financialplanning to find help, TIFIN and Morningstar partnered to enhance their AI-powered distribution platform and eMoney responded to recently-passed legislation with taxplanning upgrades.
Traditionally, financial advice and tax preparation have existed as 2 related, but separate, services. Besides the fact that many financial advisors don’t hold the necessary credentials (e.g., by tailoring client data-gathering worksheets to focus on the information that is relevant to a client’s tax situation).
Earned Wealth, founded in 2021, offers medical professionals advice on financialplanning, taxplanning, wealth management and investing on one interconnected platform.
As a result, financial advisors should start honing the services Gen X members will likely benefit from the most, including retirement planning, estate and taxplanning and mortgage refinancing. trillion annually over the next decade as part of the great wealth transfer, a new report finds. trillion annually.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that SIFMA, which represents broker-dealers, investment banks, and asset managers, released a white paper that argues that CFP Board "increasingly functions as a de facto private regulator for CFP certificants" and proposes that CFP (..)
What Is FinancialPlanning and Why Does It Matter in a Crisis? Financialplanning begins with a thorough analysis of your short- and long-term financial situation, including all sources of income, your current spending patterns and debt, and your plans for the future. Taxplanning.
As the year comes to a close, now is the time to review potential financial moves to help minimize your tax burden heading into 2025. Proactive year-end taxplanning can lead to significant savings and set you up for financial success in the new year. Find your next tax advisor at Harness today.
Tax-loss harvesting – i.e., selling investments at a loss to capture a tax deduction while re-investing the proceeds to maintain market exposure – is a popular strategy for financial advisors to increase their clients’ after-tax investment returns. With these three tools (i.e.,
RIA Edge Podcast: Schwab’s Jalina Kerr on How Resilient RIAs Can Turn Market Volatility Into Growth RIA Edge Podcast: Schwab’s Jalina Kerr on How Resilient RIAs Can Turn Market Volatility Into Growth Jalina Kerr of Charles Schwab shares how the most adaptive firms are expanding beyond portfolio management, into areas like estate and taxplanning.
Once the domain of membership associations that, especially amongst independent financial advisors, created a central space for networking and community, conferences were primarily built around professional development (i.e.,
Get Help with TaxPlanningTaxplanning is a critical component of financial management. Proper taxplanning can save your business money and ensure compliance with regulations. More importantly, be prepared to pay the proper taxes throughout the year.
Taxes are among the most common concern for people in retirement. You might be wondering how to start thinking about your tax strategy so you aren’t taxed more than you need to be. These three mistakes can help start the conversation about what a comprehensive tax strategy might look like for you. Taking Too Much Income.
This could include planning for how their expenses will change during the sabbatical as well as simulating how the sabbatical will impact their financial picture going forward.
Taxplanning might not top everyone’s list of leisure activities, but in the middle of tax season, theres a hidden opportunity. What if, instead of seeing it as a mere logistic hurdle, we embraced it as a moment to refine our financial strategy? Analyze whether your tax rate will rise or fall in the coming years.
Financialplanning is inherently complex, especially when it comes to data gathering, analysis, and crafting well-reasoned recommendations. investment strategies or taxplanning) – can reduce cognitive overload for clients and keep meetings on track.
papers.ssrn.com) Taxes A 2023 year-end taxplanning guide. kitces.com) Advisers How the profession of financialplanning has changed over time. (riaintel.com) How to prep an RIA for sale. (fa-mag.com) fa-mag.com) Research into how RIAs grow. kindnessfp.com) The ins and outs of backdoor Roth IRAs.
riabiz.com) Charles Schwab ($SCHW) is planning more job cuts due to the TDA integration. investmentnews.com) Pro bono planning Does financialplanning have a pro bono problem? mywealthplanners.com) The CFP Board wants to encourage pro bono planning. kitces.com) The SEC is focusing on RIA marketing.
For instance, the financial advice industry has seen many changes to regulations (for both advisors and their clients), advisor business models, and the advisor technology landscape. In the context of the financialplanning industry, whereas Financial Advice 1.0 Specifically, Financial Advice 3.0
Get a sneak peek at content reserved for XYPN members with XY Tax Solutions Office Hours program! Available exclusively to XYPN members, each month one of XYTS's tax experts hosts an office hours session where tax-specific topics are discussed and attendees can ask any top-of-mind questions. Enjoy the recording!
Financialplanning and taxplanning go hand in hand. Including taxplanning as part of your service provides clients a comprehensive view of their finances and helps them achieve their financial goals. In addition, we can be confident that tax rates will continue to ebb and flower over time.
He is a member of the Tax Management Estates, Gifts and Trusts Advisory Board, and an Editorial Advisory Board Member of Trusts & Estates Magazine for which he currently writes the monthly "Tax Update" column. David is a co-author of a book on estate planning, Drafting the Estate Plan: Law and Forms.
Ratner June 11, 2025 2 Min Read A client whose estate will remain non-taxable after 2025 has a policy in an irrevocable life insurance trust (ILIT) that was presumably purchased for estate tax liquidity. I just thought it appropriate to acknowledge the challenge.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the shift in financial advice from pure investment management to comprehensive financialplanning continues, with more individuals becoming CFP professionals than CFAs in the past few years as consumers increasing the diversity (..)
Taxplanning serves as the cornerstone of the entire acquisition deal, extending far beyond a simple checkbox. Every element, from structure to price negotiations, hinges on understanding tax implications for all parties involved. Get it right, and you will have set yourself up for a smooth transition and maximized returns.
When it comes to focusing on a niche for financial advisors, business owner clients can be an appealing target as they can have complex financialplanning problems ranging from cash flow management to taxplanning to acquisition strategies.
The post Tax Strategies for High-Income Earners 2025 appeared first on Yardley Wealth Management, LLC. Tax Strategies for High-Income Earners in 2025. In this comprehensive guide, we’ll explore proven strategies to help you minimize tax liability while staying compliant with current regulations.
Notably, while the rule will create an additional compliance burden, the due diligence advisers offering comprehensive planning services (as well as their investment custodians) are likely already conducting on their clients to create an effective financialplan could be a 'defense mechanism' for these firms against criminals looking to take advantage (..)
Most people start financialplanning with the goal of growing their finances through savings and investments. But financialplanning is not limited to increasing your wealth alone. Taxplanning is essential. Tax is charged on every penny you earn. What impact do taxes have on your financialplanning?
Exercise strategy: Timing: Consider the tax implications of exercising vested options before or after the IPO, timing of sales, and taxplanning opportunities. Cash flow: Depending on the type of equity you have, exercising can be challenging given tax implications and having cash to buy the stock.
In this episode, we talk in-depth about how, after years of working in an environment where she saw first-hand how ultra-high-net-worth clients keep and grow their wealth (and the lack of diversity among those clients), Kamila decided to build a practice that focused on providing holistic financialplanning to communities of color with emerging wealth, (..)
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the FinancialPlanning Association and Money.com are planning to publish a “Best Financial Advisors” list based on advisors’ education, credentials, and experience, as well as harder-to-quantify (..)
Why does taxplanning matter for your retirement plan? Brian talks through the difference it can make and why you should pay attention to it now as a part of your financialplan. When it comes to taxes, should you use the same person that files taxes to do taxplanning and retirement planning for you?
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