Bonus Section: Financial Advisor Referrals From The 1st Two Pages Of A Tax Return (PT6)

This is the second of a six-part series of posts on how to use the first two pages of a tax return to identify referral opportunities. Click here to go to the beginning of the series.

LINE 45- AMT, also known as the alternative minimum tax. Now, there are so many advanced tax strategies to look at when someone is in the AMT. This presents a great opportunity for a financial advisor and an accountant to collaborate together for the benefit of the client. This is an example of how the whole team working together can be a huge advantage to a client. I always like to make the introduction like this ” Mr Smith, the alternative minimum tax is such a complicated subject, it would really make sense for you to review this not only with an accountant but also a financial advisor. How is your relationship with your financial advisor who specializes in tax strategies?”

LINE 76 AMOUNT YOU OWE IN TAXES if a client owes money, it presents an opportunity for them to consider “cash flow planning”, by establishing a budget to review cash flow and creative ways to offset taxes. Suggest they speak with a financial advisor to help them with this. Here is how I suggest bringing this up,
” Mr Smith, I see you owed some taxes last year. Have you done any cash flow planning? How is your relationship with your financial advisor who specializes in cash flow planning. I think it could make a big difference?”

This module shows some quick and easy ways to add value just from the first 2 pages of a Tax Return. Just bringing these subjects up, and making the introduction to an expert can create massive changes in an individual’s life.

I hope you enjoyed this module. Please comment below, and we will be in touch soon.

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