Clients and Taxes - Financial Advisor Source

Are Tariffs a New US VAT Tax?

The Big Picture

MARCH 31, 2025

A quick note on tariffs : Over the past few weeks, I’ve been putting together my quarterly call for clients. As the chart at top implies, it appears that the economic changes are not a one-time adjustment but a permanent tax on consumption. tariff implementation seems to be moving towards the equivalent of a national VAT tax.

Taxes

Taxes Economics Education Planning

Why Health Savings Accounts (HSAs) Aren’t Always Worth The ‘Triple Tax Savings’ Advantage

Nerd's Eye View

FEBRUARY 5, 2025

Health Savings Accounts (HSAs) have become an increasingly popular tool for financial advisors and their clients due in part to the 'triple tax savings' they offer: tax-deductible contributions, tax-free growth, and non-taxable distributions for qualifying expenses. Read More.

Accounting

Accounting Taxes Medical Healthcare

#FASuccess Ep 412: 3X’ing The Business With No More Than 50 Great Clients By Hyperfocusing On Who You Can Add The Most Value For, With Anjali Jariwala

Nerd's Eye View

NOVEMBER 19, 2024

Anjali is the Founder of FIT Advisors, an RIA based in Torrance, California (but works virtually with clients nationwide) and oversees $65 million in assets under management for 45 client households.

Clients

Clients Financial Advisor Business Planning Taxes

Webinars

What Your Financial Statements Are Telling You—And How to Listen!

How to Avoid Pitfalls In Automation: Keep Humans In the Loop

Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

MORE WEBINARS

#FASuccess Ep 421: Integrating Tax Preparation Without Hiring In-House CPAs To Bring More Tax-Focused Value, With Daniel Friedman

Nerd's Eye View

JANUARY 21, 2025

Daniel is the CEO of WMGNA, a hybrid advisory firm based in Farmington, Connecticut, that oversees approximately $270 million in assets under management for 200 client households.

Taxes

Taxes Tax Planning Financial Advisor Compensation Planning

The CPA Firm Growth Strategy: From Compliance to Consulting

Speaker: Rita Keller - President of Keller Advisors, LLC

You've worked diligently and have built a glowing reputation grounded in your excellent skills in tax, accounting, and auditing. You're known as the “go-to” person when a client is faced with tax and financial decisions. You have a very successful firm -- but that’s not enough.

Consulting

Enhancing Client Conversations About Charitable Giving: Sample Questions, Scripts, and Tools for Better Engagement

Nerd's Eye View

NOVEMBER 27, 2024

Yet, despite the important role that charitable giving can play, studies show that many advisors hesitate to bring up the topic with clients. Advisors may worry about overstepping boundaries or feel uncertain about a client's interest in philanthropy. These statements often stem from clients' life stories and core values.,

Clients

Clients Education Financial Planner Planning

Kitces & Carl Ep 152: Advisory Fee Confidence And Building The Happy-Client Stoke File

Nerd's Eye View

NOVEMBER 28, 2024

Still others may choose a hybrid model, combining AUM fees with additional charges for other services like tax planning. They also suggest how advisors with unsustainably low fees can shift their mindset, embrace their value, and realign their pricing to reflect both the tangible and intangible value they actually provide to clients.

Clients

Clients Financial Planner Fee Only Financial Planning

Inspired Discovery: Asking Vision Questions To Focus On Clients’ “Ideal Self”

Nerd's Eye View

APRIL 9, 2025

It's natural for advisors to begin discovery meetings by asking questions about a client's current financial situation – understanding cash flow, debt, investments, risk tolerance, or even the burning tax concern that brought them to the advisor's door in the first place is crucial for financial planning.

Clients

Clients Financial Planning Risk Tolerance Planning

Using Section 351 Exchanges To Tax-Efficiently Reallocate Portfolios With Embedded Gains

Nerd's Eye View

MARCH 12, 2025

Because when it comes time to rebalance the portfolio to its asset allocation targets – or to reallocate the portfolio to a new strategy – any trades made to implement those changes can generate capital gains, resulting in tax consequences for the investor.

Taxes

Taxes Portfolio Asset Allocation Assets

Planning For Changes In Client Marginal Tax Rates After TCJA’s Sunset

Nerd's Eye View

JULY 10, 2024

The Tax Cuts and Jobs Act (TCJA), passed in 2017, was one of the most extensive pieces of tax legislation to be passed in the last 30 years, touching many aspects of individual, corporate, and estate tax.

Taxes

Taxes Clients Planning Numbers

4 Ways And 5 Charts To Talk Tariffs With Clients With Empathy And Strategy

Nerd's Eye View

APRIL 16, 2025

In these moments, the conversations that advisors have with their clients play a crucial role in helping clients maintain perspective, avoid emotional decisions, and stay committed to their long-term financial plans. Instead, allowing them to fully voice their fears can build trust and help them feel understood. Read More.

Clients

Clients Financial Planning Financial Advice Planning

A 3-Step Sales Process To Clearly Demonstrate Financial Planning Value To Prospects

Nerd's Eye View

NOVEMBER 25, 2024

Over the past decade, a growing number of advisors have expanded into offering comprehensive financial planning services, reflecting a shift that not only helps them stand out from (increasingly commoditized) portfolio management offerings but also supports clients' broader financial goals.

Financial Planning

Financial Planning Sales Planning Retirement

Are You Talking to Your Clients About Income-Tax Diversification?

Wealth Management

MARCH 29, 2023

For clients earning substantial incomes, saving and investing may not be enough. Income-tax diversification should play an important role in their retirement accumulation and income strategy planning.

Taxes

Taxes Clients Retirement Planning

#FASuccess Ep 432: Crafting “Input Deliverables” That Show Financial Planning Value To Clients Without Creating Busy-Work, With Seth Scott

Nerd's Eye View

APRIL 8, 2025

Seth is the founder of Heartwood Financial Planning, 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.

Financial Planning

Financial Planning Clients Planning Financial Advisor

Alternative Minimum Tax (AMT) Planning After TCJA Sunset: Preparing Clients To (Re)Encounter AMT After 2025

Nerd's Eye View

OCTOBER 16, 2024

Since the Tax Cuts & Jobs Act (TJCA) was passed in 2017, few households have been subject to the Alternative Minimum Tax (AMT), which TCJA restructured so that it applied mainly to a select number of upper-income households.

Taxes

Taxes Clients Planning Numbers

Holistiplan Launches Estate Plan Document Extraction Tool (And More Of The Latest In Financial #AdvisorTech – November 2024)

Nerd's Eye View

NOVEMBER 4, 2024

And for #AdvisorTech companies who want to submit their tech announcements for consideration in future issues, please submit to TechNews@kitces.com !

Estate Planning

Estate Planning Planning Communication Clients

Weekend Reading For Financial Planners (November 16-17, 2024)

Nerd's Eye View

NOVEMBER 15, 2024

Also in industry news this week: NASAA has proposed an amendment to its broker-dealer conduct model rule that would restrict the use of the terms “advisor” and “adviser” for broker-dealers and their registered representatives who are not also investment advisers or investment adviser representatives A recent study suggests that (..)

Financial Planner

Financial Planner Asset Allocation Taxes Tax Planning

The States With the Highest and Lowest Property Taxes

Wealth Management

MARCH 2, 2023

Depending on where your clients live, property taxes can be a small inconvenience or a major burden.

Taxes

Taxes Clients

At the Money: Meb Faber on Tax Aware ETFs

The Big Picture

DECEMBER 4, 2024

Would you like to diversify but also defer paying big capital gains taxes? I’m Barry Ritholtz and on today’s edition of at the money we’re going to discuss how to manage concentrated equity positions with an eye towards diversification and managing big capital gains taxes. None of these solutions are optimal.

Taxes

Taxes Portfolio Accounting Management

FP Alpha Launches Tax Services As Standalone Product

Wealth Management

JANUARY 14, 2025

FP Alpha is unbundling its tax service from its larger offering. FP Alpha TAX is essential, as clients increasingly want tax help, according to Andrew Altfest.

Taxes

Taxes Clients

Weekend Reading For Financial Planners (March 29–30)

Nerd's Eye View

MARCH 28, 2025

Which suggests that, amidst ongoing debate over fiduciary-related regulations, an advisor's status as a fiduciary could both lead to greater client trust (both in their individual advisor relationship and perhaps in the financial advice industry as a whole) and, ultimately, higher client retention rates.

Financial Planner

Financial Planner Retirement Retirement Planning Clients

Will my Social Security be Taxed?

The Chicago Financial Planner

FEBRUARY 8, 2023

You’ve paid Social Security taxes over the course of your working life and you’ve earned these benefits. Many retirees and others collecting Social Security wonder about the tax treatment of their benefit. The answer to the question in the title is that your Social Security benefits may be subject to taxes.

Taxes

Taxes Retirement Financial Planner Financial Advisor

Ask the Experts: Prepare for Possible Sunset of High Estate Tax Exemption

Wealth Management

OCTOBER 4, 2024

The estate and gift tax exemption (set at $13.61 If Congress doesn’t act, that tax exemption will be cut in half to about $6 million. To help your clients prepare for the real possibil million per individual in 2024) is due to expire on Jan.

Taxes

Taxes Clients

Unlocking Advisor and Investor Growth with Tax Management Services

Wealth Management

FEBRUARY 22, 2024

Clients and advisors alike can benefit from a focus on mitigating taxes.

Taxes

Taxes Management Clients

Adviser links: serving Boomers

Abnormal Returns

OCTOBER 28, 2024

citywire.com) What's behind the surge in client churn at RIAs? riabiz.com) Risk tolerance Determining a client's risk tolerance is more complicated than having them fill out a questionnaire. advisorperspectives.com) Advisers A plan for onboarding client service associates. kitces.com) Tax-loss harvesting is going long-short.

Risk Tolerance

Risk Tolerance Retirement Consulting Financial Planning

Weekend Reading For Financial Planners (February 1–2)

Nerd's Eye View

JANUARY 31, 2025

Also in industry news this week: While RIA M&A deal flow hit record levels in 2024 (both in terms of volume and the speed of completing them), firm valuations saw relatively modest gains In its latest annual regulatory oversight report, FINRA joined the SEC in flagging the potential risks to firm and client data from the use of third-party vendors (..)

Financial Planner

Financial Planner Retirement Planning Compliance Communication

Three Planning Steps For Clients That Own Artwork

Wealth Management

SEPTEMBER 9, 2022

Keeping an inventory, categorizing and managing clients' art will help to minimize taxes and prevent their beneficiaries from being taken advantage of.

Clients

Clients Planning Taxes Management

Gifting Without The Headache: Tax-Efficient Strategies To Stay Under Gift Reporting Limits

Nerd's Eye View

OCTOBER 9, 2024

Gifting is a common planning topic discussed between advisors and clients – often raising questions about which gifts are taxable, need to be reported to the IRS, or may be exempt from reporting altogether. Furthermore, every individual also has a lifetime gift and estate tax exemption ($13.61M per recipient in 2024).

Taxes

Taxes Medical Clients Education

Offering Tax Preparation As A Solo Advisor: How To Attain Designations And Create A Schedule By Next Tax Season

Nerd's Eye View

MAY 8, 2023

Traditionally, financial advice and tax preparation have existed as 2 related, but separate, services. CPA, EA, or JD) to prepare tax returns and represent clients before the IRS, there has also been the impression that there is simply not enough time for one person to do both.

Taxes

Taxes Financial Planning Financial Advisor Clients

Weekend Reading For Financial Planners (November 30–December 1)

Nerd's Eye View

NOVEMBER 29, 2024

Which could prove to be a boon for the financial advice industry as more consumers are willing to entrust their assets to an advisor (while at the same time possibly making it tougher for some advisors to differentiate themselves primarily by how they put their clients' interests first?). Read More.

Financial Planner

Financial Planner Financial Advice Retirement Financial Advisor

A Tax-Advantaged, Non-Correlated Approach to Fixed Income

Wealth Management

FEBRUARY 23, 2023

Are your clients seeking tax-advantaged retirement solutions? There’s one that many advisors often overlook — and which can deliver the higher retirement income many clients prefer.

Taxes

Taxes Retirement Clients

Weekend Reading For Financial Planners (January 25–26)

Nerd's Eye View

JANUARY 24, 2025

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that while overall financial advisor headcount remains relatively flat, the RIA channel continues to gain share in terms of both headcount (as brokers break away to start their own independent firms and aspiring advisors seek (..)

Financial Planner

Financial Planner Asset Allocation Clients Commission

Tax Advantages Are a Selling Point for Investment in CRE. How Should HNW Investors Think About Them?

Wealth Management

JANUARY 17, 2023

WMRE asked Michael Osherovitz, FTI’s new head of its private client tax group, about the biggest issues facing HNW investors and family offices who have real estate holdings.

Taxes

Taxes Investing Investments Clients

Gift Tax Returns: Four Filing Tips

Wealth Management

AUGUST 21, 2023

Shenkman and Joy Matak give advice for explaining to clients the importance of and complexities in filing gift tax returns.

Taxes

Taxes Clients

Adviser links: client confidence

Abnormal Returns

FEBRUARY 13, 2023

(kitces.com) Matt Reiner talks client expectations with Daniel Crosby who is the Chief Behavioral Officer at Orion Advisor Solutions. citywire.com) Taxes Five tax mistakes to avoid when it comes to stock options, RSUs, etc. etf.com) Things to keep in mind when direct indexing a client's portfolio.

Clients

Clients Retirement Financial Services Taxes

Orion Acquires Summit Wealth Systems To Become Its Next-Generation All-In-One Portal (And More Of The Latest In Financial #AdvisorTech – January 2025)

Nerd's Eye View

JANUARY 6, 2025

FINNY AI, an AI-powered prospecting tool, has raised $4.2 FINNY AI, an AI-powered prospecting tool, has raised $4.2 FINNY AI, an AI-powered prospecting tool, has raised $4.2

Startup

Startup Financial Advisor Clients Portfolio Management

Creative Planning Expands Tax Expertise With Latest Acquisition

Wealth Management

AUGUST 21, 2023

The deal to acquire CTB Financial Services will bring more tax-focused investment strategies to Creative Planning’s client base.

Taxes

Taxes Financial Services Planning Clients

SEC Fines Betterment $9M for Not Revealing Tax-Loss Harvesting Errors

Wealth Management

APRIL 18, 2023

The robo advisor failed to tell some clients its tax-loss harvesting service only checked accounts on alternating days and not daily, as some materials claimed, according to the commission.

Taxes

Taxes Commission Accounting Clients

Weekend Reading For Financial Planners (December 28–29)

Nerd's Eye View

DECEMBER 27, 2024

The report suggests this might be due in part to increased RIA valuations and the assumption of some firm founders that next-generation employees won't be financially able to buy out the firm from them, though additional data indicates that many firms don't have career paths in place that could help next-generation advisors envision their path to firm (..)

Financial Planner

Financial Planner Insurance Coverage Insurance Valuation

Firms Not Offering Tax, Retirement Planning Are Getting it Wrong

Wealth Management

OCTOBER 4, 2023

Advisors are overdelivering services such as health care, estate and business planning, while falling short in the areas their clients most desire.

Retirement Planning

Retirement Planning Planning Retirement Business Planning

Inflation’s Impact on Retirement, Taxes and Estate Planning

Wealth Management

JUNE 24, 2024

Six ways to help clients gain peace of mind regarding inflation.

Estate Planning

Estate Planning Retirement Taxes Planning

The Diamond Podcast for Financial Advisors: How Tax Planning Can Add Value to Clients and Your Business

Wealth Management

APRIL 3, 2025

Steven Jarvis, the founder and CEO of Retirement Tax Services, offers advice on how a CPA can help increase the growth and enterprise value of an advisors business.

Taxes

Taxes Tax Planning Financial Advisor Retirement

Adviser links: helping clients feel secure

Abnormal Returns

FEBRUARY 19, 2024

wealthmanagement.com) Do your clients have a digital estate plan? thinkadvisor.com) How tax treatment differs across states for 529-to-Roth IRA rollovers. (ofdollarsanddata.com) Social security Spousal claiming strategies for Social Security are nuanced. thinkadvisor.com) How to research a Social Security question. riaintel.com)

Clients

Clients Estate Planning Wealth Management Financial Advice

Utilizing Swap Powers In Irrevocable Trusts To Add Flexibility And Income Tax Efficiency

Nerd's Eye View

AUGUST 21, 2024

Irrevocable trusts lie at the heart of a variety of estate planning strategies, as gifts to irrevocable trusts can allow for the transfer of assets outside of an owner’s estate for estate tax purposes with more structure than an outright gift. the assets' original owner). Read More.

Taxes

Taxes Wealth Advisor Estate Planning Assets

Are Tariffs a New US VAT Tax?

Why Health Savings Accounts (HSAs) Aren’t Always Worth The ‘Triple Tax Savings’ Advantage

Webinars

Trending Sources

#FASuccess Ep 412: 3X’ing The Business With No More Than 50 Great Clients By Hyperfocusing On Who You Can Add The Most Value For, With Anjali Jariwala

Webinars

#FASuccess Ep 421: Integrating Tax Preparation Without Hiring In-House CPAs To Bring More Tax-Focused Value, With Daniel Friedman

The CPA Firm Growth Strategy: From Compliance to Consulting

Enhancing Client Conversations About Charitable Giving: Sample Questions, Scripts, and Tools for Better Engagement

Kitces & Carl Ep 152: Advisory Fee Confidence And Building The Happy-Client Stoke File

Inspired Discovery: Asking Vision Questions To Focus On Clients’ “Ideal Self”

Using Section 351 Exchanges To Tax-Efficiently Reallocate Portfolios With Embedded Gains

Planning For Changes In Client Marginal Tax Rates After TCJA’s Sunset

4 Ways And 5 Charts To Talk Tariffs With Clients With Empathy And Strategy

A 3-Step Sales Process To Clearly Demonstrate Financial Planning Value To Prospects

Are You Talking to Your Clients About Income-Tax Diversification?

#FASuccess Ep 432: Crafting “Input Deliverables” That Show Financial Planning Value To Clients Without Creating Busy-Work, With Seth Scott

Alternative Minimum Tax (AMT) Planning After TCJA Sunset: Preparing Clients To (Re)Encounter AMT After 2025

Holistiplan Launches Estate Plan Document Extraction Tool (And More Of The Latest In Financial #AdvisorTech – November 2024)

Weekend Reading For Financial Planners (November 16-17, 2024)

The States With the Highest and Lowest Property Taxes

At the Money: Meb Faber on Tax Aware ETFs

FP Alpha Launches Tax Services As Standalone Product

Weekend Reading For Financial Planners (March 29–30)

Will my Social Security be Taxed?

Ask the Experts: Prepare for Possible Sunset of High Estate Tax Exemption

Unlocking Advisor and Investor Growth with Tax Management Services

Adviser links: serving Boomers

Weekend Reading For Financial Planners (February 1–2)

Three Planning Steps For Clients That Own Artwork

Gifting Without The Headache: Tax-Efficient Strategies To Stay Under Gift Reporting Limits

Offering Tax Preparation As A Solo Advisor: How To Attain Designations And Create A Schedule By Next Tax Season

Weekend Reading For Financial Planners (November 30–December 1)

A Tax-Advantaged, Non-Correlated Approach to Fixed Income

Weekend Reading For Financial Planners (January 25–26)

Tax Advantages Are a Selling Point for Investment in CRE. How Should HNW Investors Think About Them?

Gift Tax Returns: Four Filing Tips

Adviser links: client confidence

Orion Acquires Summit Wealth Systems To Become Its Next-Generation All-In-One Portal (And More Of The Latest In Financial #AdvisorTech – January 2025)

Creative Planning Expands Tax Expertise With Latest Acquisition

SEC Fines Betterment $9M for Not Revealing Tax-Loss Harvesting Errors

Weekend Reading For Financial Planners (December 28–29)

Firms Not Offering Tax, Retirement Planning Are Getting it Wrong

Inflation’s Impact on Retirement, Taxes and Estate Planning

The Diamond Podcast for Financial Advisors: How Tax Planning Can Add Value to Clients and Your Business

Adviser links: helping clients feel secure

Utilizing Swap Powers In Irrevocable Trusts To Add Flexibility And Income Tax Efficiency

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