What Financial Advisors Are Reading This Week Dedicated DB

News Round-up for Week of January 7

8th Jan 2019

Wood block that says news on newspapers

Traditional Pensions May Help Businesses Qualify For Pass-Through Deduction

Tax reform and its 20-percent pass-through deduction for qualified business income (QBI) has created a new use for an old retirement tool: the defined benefit pension plan for small business. Defined benefit plans can benefit doctors, law partners and wealth managers who want to whittle taxable income to qualify for the QBI deduction.

Via Financial Advisor Magazine

Women Can Close the Gender Wealth Gap by Investing

Women are paid less than men, but outperform men in long-term investing. However, women invest less than men creating a self-fulfilling prophecy of lower wealth: Less income and their income in turn earns lower returns from their conservative investing style.

Via US News

Tax Deductions That Went Away This Year

Taxpayers will no longer be able to rely on exemptions that have saved them money in the past because of the Tax Cuts and Jobs Act (TCJA). By nearly doubling the standard deduction and limiting many itemized deductions, the tax law has made it more likely that many people who used to itemize on Schedule A will now take the standard deduction instead.

Via Investopedia

How To Better Attract Your Ideal Clients By Crafting A Specific Client Persona To Market To

Advisors seeking ideal clients should market to a specific persona. It’s easier to market to the right prospective clients than try to market to everyone. The first step to effectively marketing your practice for growth is to narrow your focus and pick which specific prospective clients you want to target.

Via Michael Kitces

10 Year-End Tips to Cut Clients’ Tax Bills

Although the advantages of the new tax laws come with some complexity, your clients can reap opportunities and not get stuck in the details. Here are 10 tips for advisors that can help your clients save money.

Via Think Advisor

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How This 27-Year-Old Turned a Whimsical Summer Project Into a Business Valued at $200 Million via @inc #selfmadehttps://t.co/jzAKlnlccn

10:15 PM 21 November 2019

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Family-owned funeral home owners open a Cash Balance plan to build retirement wealth and save big on taxes… https://t.co/kaWuU0iGhM

9:30 PM 21 November 2019

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Financial advisors need to put cybersecurity plans to the test via @CNBC @loriekonish #cybersecurity #advisortipshttps://t.co/FMrOjwVjFP

8:14 PM 21 November 2019

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Great News From The IRS For Retirement Savers – Contribution Limits for 2020 Have Increased via @forbeshttps://t.co/h9f1lQr9jj

6:54 PM 21 November 2019

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Four ways to support clients after a loved one dies; there is ample opportunity to show your interest goes beyond w… https://t.co/W62kbjYT1P

9:18 PM 20 November 2019

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Defined Benefit Plans Provide the Optimal Retirement Plan for Board Directors https://t.co/qDChkzHYrl… https://t.co/NgSDWrV67W

8:18 PM 20 November 2019

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