Tax Planning in Difficult Markets: Creating Silver Linings When Clouds Are Gray

When markets are challenging, your clients look to you to help manage their expectations as well as their hard-earned money. Your guidance can help them manage their emotions as markets gyrate and the value of their portfolio potentially declines. We all know about the importance of staying the course and remaining diversified.

Keeping your clients invested even in difficult markets is just one part of the value you provide them as their advisor. But you can also provide even greater value by taking advantage of certain tax-planning strategies that down markets provide. These could help your clients potentially reduce the taxes they pay on their investments. And that could go a long way to easing the pain of potential portfolio declines.

Tax planning checklist for difficult markets

Checklists are helpful tools to let your clients know you are minding the store even when markets go down. They help keep clients focused on what they can control even if only one or two items are available for their unique circumstances.