November 15, 2012 by Bill McCarty
Scaling the “fiscal cliff” together can mean better solutions for your clients
While the ‘fiscal’ cliff leaves us with more questions than answers right now, it is perfect time to begin networking with a CPA to address individual client concerns. Here are three reasons why.
1. Tax efficiency.
No matter what happens during the ‘lame duck’ session, this is a good time to review the tax efficiency of your clients’ portfolios. Of course, only a qualified tax professional will be able to review the tax efficiency of an individual’s overall portfolio and discuss how the components of the fiscal cliff may affect their individual circumstances. At the conclusion of the review, and depending on your licenses, the two of you can potentially make recommendations that can help the individual make improvements such as gaining additional tax deferral through a variety of products or strategies.
2. Additional tax deferral in 2012.
According to Andy Friedman of The Washington Update, there are some actions that investors can take now to “blunt some of the effects of future tax increases.” Friedman offers the following suggestions:
- Sell assets to take advantage of existing capital gains rates.
- Receive ordinary income currently rather than in a later year when tax rates may be higher.
- Defer discretionary deductible payments (such as charitable contributions) to later years when they may be worth more due to higher tax rates.
- Give increased consideration to municipal bond investments.
- Give increased attention to harvesting losses and buy-and-hold investment strategies.
- Consider tax-efficient mutual funds and other professionally managed tax-advantaged investment strategies.
- Consider investing in annuities and life insurance that offer tax deferral.
- Convert a traditional IRA to a Roth IRA.
For the full article: http://www.sequoiaadv.com/wp-content/uploads/2012/04/EatonVance-Investing-in-a-Rising-Tax-Environment1.pdf
3. Get ready to help your clients in 2013.
When the election dust clears, your clients will likely have a lot of questions and concerns. By networking with your CPA now, you can create a game plan for how you’ll serve your clients when the implications of the fiscal cliff become clear near the end of the year. Consider creating a plan a collaborative way to communicate the changes with your clients through a variety of means – phone calls, letters, newsletter articles, emails, and Website content. Also, you may want to discuss how you’ll work together to best provide reviews, support, and customer service.
Learn how 2013 tax law changes could potentially impact you and your clients at our 2013 Business Briefing and Post-Election Tax Update. We’re hosting the event on December 7, 2012 in Dallas, TX. Find out what else you’ll learn and how to pre-register here.
The information and opinions in this article are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Brokers International Ltd. It is given for informational purposes only and is not a solicitation for the purchase of any product. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.
This article is designed to provide general information on the subjects covered. Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Encourage your clients to consult their tax advisor or attorney.
November 8, 2012 by Courtney Redfern
Marketing can be one of the best ways to get in front of prospects that may not be familiar with you or your business. To get the most from your marketing efforts, it’s important to understand the different types you can use. With marketing, you’re trying to get the right message to the right audience at the right time. Two main forms of outbound marketing include advertising and direct marketing. Whereas advertising builds brand awareness, direct marketing seeks to elicit an immediate response from your target audience through a specific “call to action.” A call to action is important because it tells your audience what you want them to do next. It urges them to do something right now and moves them further into the sales cycle. For example: “Call now for a no obligation review.” And that’s one step closer to becoming a client and building a relationship based on the value you offer.
The DIRECT acronym can help you define and focus your direct marketing efforts. Check out the Be Direct in Six Simple Steps tip sheet, and you’ll get a bonus step!