Tax Planning: A Year-round Activity for Top-level Advisors

tax form plan ahead
Tax Planning: A Year-round Activity for Top-level Advisors

For most investors and advisors, tax season is officially over. It is a once a year occurrence and many investors will not think about taxes again until next year.

Should you think about taxes after the April deadline?

For financial advisors, thinking about their client’s taxes should be a year-round activity. Sharing strategies on how to reduce taxes is an important, if not necessary, skill. Advisors who want to provide truly comprehensive financial services to their clients incorporate tax planning into their offerings.

One of the goals of a financial advisor should be to keep clients aware of tax law changes and updates that may affect them. Careful tax planning throughout the year can potentially help reduce the taxes their clients pay. Efficient tax planning should be coordinated with an investor’s financial goals and incorporated into their overall financial plan.

Sometimes, providing tax strategies for investors is not an easy task. Tax laws are complex and constantly changing. Investors should always seek the advice of a tax professional, but financial advisors who stay up-to-date on tax law changes and tax planning strategies can offer a higher level of helping investors make the best informed decision. Tax planning is a way for advisors to distinguish themselves from their competition while providing a highly beneficial service to their clients.

For more information about the Academy of Preferred Financial Advisors, please email or call us at (866) 866-0472.