Three Year-End Planning Moves You Must Do This Year Hot

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Here are three year-end planning moves you need to consider:

  1. Meet with your clients.  Even if you can’t save them money, you need to proactively set up appointments and go through year-end calculations and strategies.  Your clients will know what to expect in April and they will know that you are looking out for them.
  2. Harvest tax losses.  It doesn’t matter whether or not they have capital loss carryforwards; the carryforwards never expire. And, they come in handy when gains are ultimately recognized in their portfolios.  With higher capital gains tax and Medicare surtax, saving taxes now or in the future will be valuable to your clients.
  3. Consider Roth conversions.  Don’t forget to check on your clients’ tax brackets.  If they are in a low bracket, convert IRAs to Roth IRAs.  The permanent avoidance of tax on gains and exemption from Required Minimum Distributions make this move a win-win.

As your clients’ trusted advisor, you can’t always produce high investment returns. Ongoing proactive advice will ensure that your clients stick around.

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