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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.
Taxes are a central component of financial planning. Almost every financial planning 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.
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 (..)
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 (..)
morningstar.com) Barry Ritholtz talks shareholder yield with Meb Faber of Cambria Investments. podcasts.apple.com) Taxes A year-end taxplanning checklist. kindnessfp.com) How to think about taxes in early retirement. marknewfield.substack.com) How to look for holes in your financial plan.
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.
Welcome to the April 2025 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!
Earned Wealth, founded in 2021, offers medical professionals advice on financial planning, taxplanning, wealth management and investing on one interconnected platform.
Kevin Knull, President of TaxStatus, reveals how a direct integration with the IRS is revolutionizing taxplanning at Nitrogen's 2024 Fearless Investing Summit.
(morningstar.com) Early in retirement is the time to do some taxplanning. nextavenue.org) Estate planning Mistakes to avoid in your estate planning. theretirementmanifesto.com) If you have a valuable collection you need a plan for its eventual disposition. whitecoatinvestor.com) On the challenges of solo aging.
This month's edition kicks off with the news that FP Alpha has released its tax return extraction and analysis module as a standalone product, while RightCapital has separately launched its own tax return extraction tool bundled within its platform – with both announcements coming on the heels of Holistiplan implementing a significant price increase, (..)
Set up separate plans and goals for your business and your personal finances. It helps you plan for future expenses, allocate resources efficiently and stay on track with your financial goals. Identifying these risks early and having a plan to mitigate them can save your business from significant setbacks.
These changes all have the potential to change the industry by shifting the current focus on selling financial products (including financial plans themselves) to providing a more in-depth and personalized experience that helps anticipate future issues in a client's life and better help them identify the goals that will help them thrive.
For example, most Millennial and Gen Z clients can open their own investing account and buy index funds online with only minimal guidance from their advisor, so full-service investing might not offer enough value to a next-generation client to justify an ongoing planning fee.
However, even though the PTET can result in higher state taxes, the savings in Federal taxes that can result from being able to deduct the PTET as a business expense (including not just income tax but potentially self-employment taxes, net investment income tax, and additional Medicare taxes as well) might still make the election worth it overall.
Financial planning 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. Start with Document Sharing The first step is to ask your clients to share their tax documents with you.
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.
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 financial planning continues, with more individuals becoming CFP professionals than CFAs in the past few years as consumers increasing the diversity (..)
Welcome to the October 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!
Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that the SEC’s proposed “Safeguarding Rule” would significantly increase the number of investment advisers deemed to have custody of client assets and increase paperwork requirements for advisers (..)
In this post, Kitces.com Senior Financial Planning Nerd Ben Henry-Moreland writes about how he went from being hesitant to offer tax preparation at his solo RIA (given how common it is for tax preparers to work long hours throughout tax season) to embracing it as a core part of the business’ service offering.
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-taxinvestment returns. With these three tools (i.e.,
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 financial plan could be a 'defense mechanism' for these firms against criminals looking to take advantage (..)
million in assets to both retire and pass on a legacy interest (though many have yet to establish an estate plan), according to a recent survey. Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that affluent Americans believe they need an average of $5.5
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that a recent study found that clients of advisors providing comprehensive planning services are significantly more satisfied than those receiving a lower tier of service.
Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financial advisors including topics covering technical planning, practice management, advisor marketing, career development, and more.
Further, the survey showed the continued predominance of the AUM fee model amongst state-registered firms (at the same time, more than half of firms said they charge on a fixed-fee or hourly basis, suggesting many firms utilize multiple fee models) and identified the most common areas of regulatory enforcement during the year, with failure to register (..)
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the Financial Planning 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 (..)
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.
While this will help seniors keep pace with rising prices, it also creates taxplanning opportunities for advisors and raises the possibility that the Social Security Trust Fund could be depleted sooner than expected. for 2023, the largest COLA since 1981.
If their income is over $44,000, up to 85% could be taxed! This is why having a smart, well-rounded retirement plan that includes income planning and taxplanning is so important! Planning ahead helps make the transition to retirement smoother and keeps finances on track! appeared first on Talon Wealth.
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 financial planning to communities of color with emerging wealth, (..)
Which suggests that advisor wellbeing could potentially be improved not only by automating or outsourcing administrative tasks, but also by adjusting their client rosters to better match their ideal client type.
From there, the latest highlights also feature a number of other interesting advisor technology announcements, including: Holistiplan, after achieving success with its taxplanning and analysis software, has announced an investment from Lead Edge Capital, signaling that it may be ready to expand into other financial planning areas beyond tax – (..)
Also in industry news this week: Backers announced the new Texas Stock Exchange, which seeks to provide companies with a lower-cost alternative to the NYSE and Nasdaq, which, if successful, could create a more competitive landscape and potentially better execution and reduced trading costs for financial advisors and their clients The American College (..)
As we begin our countdown to 2024, it is a great time to ensure your year-end taxplan is in place. Taxplanning is a vital component of meeting your overall financial goals. Our team of professionals is here to assist with your financial and taxplanning needs. You can access the webinar recording here.
Let us face ittech startups encounter a unique set of tax challenges that can make or break their financial future. The complex interplay between traditional tax regulations and the innovative nature of tech businesses demands smart planning from day one.
Knowledge and Personalized Planning Financial advisors can bring a wealth of knowledge from extensive education and experience, helping enable them to craft tailored strategies that align with your unique financial goals. This personalized approach can help you make financial decisions that are well-informed and strategically sound.
Welcome to the April 2025 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!
In our recent episodes, I’ve focused on your spending and how planning for and projecting your spending over time can be a fruitful experience to measure. Today I’d like to focus on the other thing that far too often goes ignored in the planning process. I’m talking about taxes. Please think of taxes over time.
[CDATA[ When it comes to managing your finances, it's not just about saving and investing wisely. Taxplanning is a crucial aspect of personal finance that often gets overlooked and plays a pivotal role in your overall financial health and wealth accumulation.
Retirement planning is a critical part of financial security that many women still overlook. However, remember that as a woman, you have a longer life expectancy than a man, which means retirement planning is even more important. That means you should plan for your retirement savings to last at least 18 years, if not more.
Floor plans, regular updates to your documentation, and a clear boundary between personal and business space help establish the legitimacy of your home office deduction. Items costing less than $2,500 can typically be expensed immediately, while more substantial investments may require depreciation over time according to IRS guidelines.
(investmentnews.com) Taxplanning Why financial advisers need to be careful when offering tax advice. kitces.com) Taxplanning is an ongoing process. blogs.cfainstitute.org) Advisers How the SEC now regulates investment performance advertising. riaintel.com) Older Americans are planning to stay in the homes.
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