Enjoy the latest issue of The Weekend Reading for Financial Planners – this week’s issue kicks off with the news that President Biden has announced his latest budget proposal this week. The proposal calls for various tax increases for high-income and wealthy taxpayers to cover the deficit. Cutbacks and Presidential Spending Priorities. The budget will almost certainly face stiff resistance if Congress splits, but proposals that could affect financial advisers and their clients include higher top income tax and capital gains tax rates, higher net investment income tax rates, and applying it to pass-through income. Increased Child Tax Credit.
Also, this week’s industry news:
- Altruist’s Self-Clearing Custodian Platform Goes Live, Offering RIAs of All Sizes an Alternative to Large Legacy Custodians
- The SEC plans to increase the number of fieldwork it conducts, but the likelihood of a company being investigated in any given year appears to remain constant.
From there, we have several articles on tax planning.
- How we add value to our clients by helping advisors maximize the benefits of their medical savings account
- How the IRS can prepare to finalize regulations requiring some beneficiaries with inherited IRAs to obtain RMDs this year
- From GRAT to QPRT, why rising interest rates affect the utility of various trusts used for real estate and tax planning
There are also many articles on practice management.
- How competitive pressures and growth challenges will drive RIA M&A activity in the year ahead
- A process that helps advisory firm owners create a succession plan that aligns with company goals and their own retirement goals
- The key role emotions play in an advisor’s decision to sell a company and how to prevent an advisor from abandoning a deal
Finally, we conclude with three articles on using artificial intelligence (AI)-enabled tools for advisors.
- How New Tools Built into Microsoft Word Help You Create and Edit Advisor Content
- How Advisors Use AI-Enabled Tools to More Efficiently Generate Content Ideas, Proofread Text, and Create Marketing Videos
- Why ChatGPT can be a valuable tool to support advisor marketing, from ad copy to lead emails
Enjoy your “light” reading!
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