ten more things to tell your high-income clients | listicle
by 卡塔尔世界杯常规比赛时间 research
your high-income clients probably know most of the topics on this list, but are they keeping up with them? are they making good decisions? do they know how changes in their lives, finances and businesses affect plans?
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use these talking points to maintain contacts with clients.
- optimize business structure for tax efficiency: high-income clients are often involved in several businesses. they need to balance s-corp, llc, partnership and other structures to maximize deductions and minimize self-employment tax.
- use family limited partnerships (flps): for clients with large estates, flps can help shift wealth to younger generations, manage assets and reduce estate tax exposure. clients need to know all the options and to make periodic adjustments. you may want to get input from various family members.
- set up a private foundation or charitable trust: a private foundation allows control over charitable giving while providing immediate tax benefits with a legacy of philanthropy.
- consider long-term care insurance: with rising health care costs, high-income clients should evaluate long-term care insurance options for retirement planning. plans need adjustment as clients (and spouses) age and their income changes.
- plan for education expenses with 529 plans: are clients up to date on tax-advantaged 529 accounts to save for children’s or grandchildren’s education expenses while benefiting from state tax deductions? touch base with clients to check for changes.
- optimize insurance policies: review life, disability and umbrella insurance policies to ensure adequate coverage and cost efficiency as wealth grows.
- develop a multiyear tax strategy: use income averaging, deductions and deferral techniques to level income across high-earning and lower-earning years. as you monitor the client’s income, suggest adjustments to the multiyear tax strategy.
- invest in tax-advantaged investments: municipal bonds, certain real estate investments and qualified opportunity zone investments can reduce taxable income while generating returns. there are new opportunities every day. clients need to know about them.
- diversify investment holdings across tax buckets: continuously balance assets in tax-deferred, tax-free and taxable accounts to create tax flexibility and efficiency in retirement. don’t let clients leave this for the end of the year.
- stay updated on tax law changes: for high-income clients, staying informed on tax law changes is crucial to adjusting strategies and maximizing savings. clients need to know about the changes, including impending changes. they need to know what to do about changes, and they need their accountant to advise them.
high-income clients tend to be very busy, but they will always make time to talk money. their accountant needs to talk with them often. use these 10 topics as reasons to contact your highly important clients.
