Alliance of Comprehensive Planners members Jonathan Heller and Robert Walsh authored a white paper,
“Tax Alpha: How to Add Measurable Value with Tax-Focused Financial Planning.” They were recently quoted in Financial Advisor Magazine's article Advisors Worried About Tax Day—In 2018 and are not worried, they are planning.
“We may be on the cusp of filing 2016 returns, but after Dec. 31, 2016, it was too late to worry about 2016. Now we are doing 2017 tax prep work,” says Heller. “We are not making any moves on what we think might happen. We hope that rates will be lower, but we can’t let the tax tail wag the dog.”
At the same time, “financial advisors who advise on investments, retirement planning and education saving, but ignore tax planning, can lead clients toward greater tax liability,” the whitepaper says. “Likewise, accountants and tax preparers who limit their client service to filling out forms and making the best of the past year’s information also limit their ability to reduce their clients’ tax exposures.”
Heller, Walsh, and Alliance of Comprehensive Planner members are not letting the potential of tax changes affect the way they work with and plan for their clients. They are looking at market trends, their client's individual situations, and making recommendations that will yield their client's best interest come Tax Day.
To learn more about Tax Alpha and why tax planning is a critical component of comprehensive financial planning please download a copy of the white paper “Tax Alpha: How to Add Measurable Value with Tax-Focused Financial Planning".