Using Tax Strategy to Secure Clients Even If You Don't Know a 1040 from a 1099 - a podcast by Dan Cuprill, CFP

If you’re looking for a way to separate yourself from other advisors, tax planning just might be the answer.

Most people are focused on tax preparation each year but providing tax planning as part of an overall approach to serving clients, you’ll be able to provide additional value to each person you work with. The holdup for people is not having a comprehensive understanding of tax code. But that’s where a CPA comes in. The role an advisor plays works in conjunction with a CPA and together they can really benefit a client.

That’s why we asked Steven Jarvis, CPA, MBA, to come on the podcast and share the way he helps bring tax professionals and financial advisors together to reduce one of the largest expenses in retirement, which is taxes.

He’s an expert in working with advisors and showing them how to implement tax planning in your business and how explain how it can strengthen your relationship with clients.

Throughout the show, he’ll walk you through the difficulties in tax planning, what kind of checklist you need, and how advisors will benefit from this service.

So as you go through the episode today, keep an ear out for some of these topics that we cover:

• Why tax planning frequently gets ignored by advisors.
• The steps you can take as an advisor in the tax planning area.
• What approach can you take if you feel like you don’t have enough knowledge to take on taxes.
• Are you comfortable explaining the strong possibility of increased taxes in the future?
• Make sure your clients are bringing in a 1040 and what you should look for on it.
• The reason why CPAs are trusted much more than advisors and how you can overcome that frustration.
• The relationship between advisors and CPAs when it comes to tax planning.
• How Steven and his team at Retirement Tax Services helps advisors.

To get more info about Steven and to sign up for his webinar, visit his website at https://retirementtaxservices.com/welcome. And if you want the checklist of what to look for on tax forms, shoot them an email at advisors@rts.tax.

For more on this topic and other strategies to growing your business, join us over at RenegadeAdvisor.net.

 

Here's the rundown for this episode:

1:38 – Why our guest today

2:11 – Tax planning gets ignored

4:58 – Steps advisors should take

7:20 – Advisors that feel like they don’t know enough  

10:49 – Understanding the future of taxes  

16:38 – What to look for on a 1040  

22:10 – Why advisors aren’t trusted  

25:56 – Qualified dividends  

29:02 – Conflict between advisors and CPAs

31:38 – How Steven helps advisors with tax planning

34:35 – Webinar he offers

Further episodes of The Profitable Advisor Podcast

Further podcasts by Dan Cuprill, CFP

Website of Dan Cuprill, CFP