The holidays are upon us and people are busy with many competing interests. You might think that with shopping for Christmas and other holidays, money matters would be front of mind. However, for many of your clients, thinking about taxes and their financial plans is not even on the radar. So here is an opportunity to help your clients and keep them from overlooking some potentially important decisions.
Most advisers keep in touch with their clients in a variety of ways and on a regular basis. An early December touch is one NOT to forget if you are an adviser since it offers a chance to save clients money and to let them know you are thinking about them and trying to be helpful.
It is not necessary to go through the list of tax items clients should review at this time of year – we all know what those are and that each client situation offers different hot points. But you will remember any significant trades during the year causing gains or harvesting losses and will want to be sure clients take this opportunity to rebalance, particularly when it will help with tax efficiency.
The income tax can be complicated with numerous types of income, deductions and credits that may come into play. Here is a chance to remind clients about these points and get them on the phone or into the office to address their questions. Don’t forget to mention next year’s changes, too, since they may suggest action by clients in the next month or two.
With the help you can provide clients at this time of year, they will remember and understand the value you bring to the relationship.