October 2022: Tax Planning
COVER STORY
State Income Taxation of Nonresident Equity-Based Compensation
By Eric J. Coffill
The increase in people who work remotely means some planners may need to reassess clients’ income sources to avoid a tax surprise.
FEATURE
Direct Indexing for Tax Loss Harvesting
By Eduarda Gaige, APMA; Brandon Schoeppler, CFP®, CFA, CIMA, ChFC, CRC; and Mitchell Meurlott, CFP®, CLU
Combining tax loss harvesting with strategic asset location may reduce costs associated with purchasing the same investments across multiple accounts.
PRACTICE MANAGEMENT
Where Taxes and Retirement Collide
By Jamie P. Hopkins, Esq., LLM, CFP®, CLU, ChFC, RICP
Planners need a process to keep up with clients’ unique tax situations, especially with our graduated tax system and ever-changing tax laws.
FPA NEXT GENERATION PLANNER
Featured Article
Insights from the Tax Trenches for NexGen Financial Planners
By Tina Wood-Wentz
YAFPNW
Bridging the Gap: Partnering Effectively with Your Client’s Tax Planner
By Matt Fizell, CFP®
Tips for the NexGen Community
The FPA Community Weighs in on CFP® Exam Preparation
Planning a STUDY GROUP? Check out suggested questions and other resources to make your study group a success!
COLUMNS
Fintech
When Tax Technology Goes Wrong—From a Client’s Perspective
By Dani Fava
Eventually, mistakes will be made. How planners handle their clients’ reactions is important if they want to preserve the relationship.
Leadership
Four Qualities Leaders Need in Volatile Times
By Barbara Kay, LPC, RCC, TIPC
A strong ROPE can keep planners on course when their firms are facing change, as keeping everyone focused and moving toward the goal is vital in staying cohesive.
Estate Planning
Maximizing Estate Planning Opportunities in a Higher-Interest-Rate Environment
By Philip Herzberg, CFP®, CDFA, CTFA, AEP
After a series of rate hikes with more expected, planners should reassess gift and income tax strategies that clients can use to lower lifetime taxes.
Behavioral Finance
Investment Diversification and Client Resistance: A Behavioral Understanding
By Robert Glasgow, Steven Meyers, Courtney Walsh, and Blain Pearson, Ph.D., CFP®, AFC
The most well-laid-out plans will still fail if the client resists recommendations, which is why it’s crucial for planners to identify cognitive barriers.
SPECIAL REPORT
Essential Tax Rules of Cross-Border Gifting
By Anthony Malik
Planners who serve global clients should have in-depth conversations about personal, financial, and immigration objectives.
RESEARCH
How Do Commodities Fit into Client Portfolios?
By Jason D. Fink, Ph.D., and Kristin E. Fink, Ph.D.
For a long time, investing in commodities has been a valuable hedge in a portfolio. Has the financialization of commodity markets negatively impacted that benefit?
Earn one CFP CE® credit by reading this month's Journal and access past exams for additional credits.
DEPARTMENTS
STARTING THOUGHTS
Lighting the Way
By Danielle Andrus
OBSERVER
Looking Down the Barrel of Inflation
Inflation Reduction Act and Student Debt Forgiveness
Stat Bank
JFP ACADEMICS
Upcoming Research
Get Published: Submit your own research for peer review. Click HERE for more information.
IN CASE YOU MISSED IT
The Role of Personal Financial Salience: Part II
By Blain M. Pearson, Ph.D., CFP®, AFC
This paper follows up another research paper published in August 2021. How effective is PFS on financial satisfaction and retirement insecurity?
