🚨 Now available: 2024 Quick Reference Guides

These free reference guides have all the facts and figures you need for the 2024 tax year on taxes, Social Security, and Medicare, all in one place. Get yours today (now customizable with your logo!).


Tax Learning

We've been working with advisors like you for nearly 30 years, so we know it takes more than just great investments to stand out.

That’s why we understand that offering tax management solutions for your clients and prospects can add greater value and help strengthen your relationships. Use the resources here to help you incorporate tax planning into your practice.

Free resources for you and your clients

Filled with a variety of resources, worksheets, reference guides, and more, you can go into conversations with confidence and up to date on the latest facts and figures, strategies, and other information for the 2024 tax year designed to help you optimize your clients' tax plans with the help of this kit.

Plus, take it to the next level by requesting a copy customized with your logo, free.

What's inside:

  • Marginal vs. Effective Tax Rates
  • Common Business Tax Credits
  • Calculating Capital Gains Tax
  • State Income Tax Rates
  • Tax Dates & Deadlines
  • Contribution Limits
  • Calculating RMDs
  • Determining RMD Life Expectancy Factor
  • Social Security and Spousal Benefits
  • Understanding Medicare

Marginal vs. Effective Tax Rate
Learn the difference between marginal and effective tax rates and how tax brackets really work with this client-friendly illustration.

Common Business Tax Credits
Do you have clients who own a business? Don’t miss out on these important tax credits as a part of their tax planning and strategy.

Calculating Capital Gains Tax
The calculation of capital gains taxes is often an area of confusion, even for sophisticated investors. Get a breakdown of how it works in this easy-to-understand illustration.

State Income Tax Rates
Do you have clients in multiple states? Some states employ income tax schedules with even more brackets than at the national level, while others utilize a flat tax scheme or eschew income taxes altogether. Get a summary of all the rates here.

Tax Dates and Deadlines
Get all the important dates and deadlines in the printer-friendly cheat sheet.

IRA, Roth IRA, and Other Qualified Plan Contribution Limits
Important information on IRA, Roth IRA, and other Qualified Plan contributions all in one place.

Determining Your RMD Life Expectancy Factor
Help clients calculate their life expectancy distribution period using this IRS Uniform Lifetime table.

Calculating RMDs
Use this worksheet to help your clients calculate their required minimum distributions.

Social Security, When to Start, and Spousal Benefits
Everything you and your clients need to know about Social Security benefits – including information on early or delayed Social Security benefits, taking early benefits while continuing to work, spousal benefits, and more.

Understanding Medicare
If you have clients who are age 65+ or disabled, this information will help you discuss everything related to Medicare.

Download your free kit



2024 Quick Reference Guides

These free, printable reference guides round up all of the facts and figures you need for the 2024 tax year on taxes, Social Security, and Medicare, all in one place. Get yours today – or request a free set customized with your logo for you to share with your clients.

Download your guides


Looking for information for the 2023 tax year?
Download our 2023 Quick Reference Guides here.

You ask, we answer

As an advisor, you know that each individual client faces their own tax challenges. To help with some of the questions you may get, we’re aggregating some of the most common questions with our response below.

Don’t see what you’re looking for, or still have a question? Submit a question to our Tax Consultant below and we can help!

What should my clients focus on at year-end to help with their upcoming tax bill?

At this point in the year, your clients or their CPAs should be able to estimate their ordinary income for the year, taxes paid (whether through payroll and withdrawal withholdings or estimated payments made), as well as realized gains or losses. December offers a great opportunity to be proactive and make a meaningful impact on their upcoming tax bill. Here are some areas to focus on this holiday season:

Capital Gains Harvesting
If your clients are on track to realize hefty capital gains in 2024, proactively looking for loss positions to sell out of can have a huge impact on their upcoming tax bill.

Tip: As of 2023, crypto securities are still not governed by the wash sale rule. If your client is carrying losses, realize those losses by year end.

Realizing Capital Gains
In some client situations, realizing capital gains can be a powerful tax planning tool. If you are reviewing a client’s tax return and notice they are carrying capital losses year over year, realizing gains could be a great way to step up the fair market value of those assets, without incurring a tax bill.

Tip: Child taxable portfolios can realize $1,250 in capital gains in 2023 without having an associated tax liability.

Safe Harbor
At this point in the year, you should be able to pinpoint approximately what your clients have paid in taxes thus far. Double-checking your clients’ prior year returns is a great way to help them avoid underpayment penalties. Remember, if your clients’ Adjusted Gross Income (AGI) is over $150,000, they will have needed to pay the lower of 1) 90% of this year’s tax liability or 2) 110% of last year’s tax liability.

Tip: If your clients are on track to under withhold, taking a taxable distribution and withholding taxes is a great way to sneak in a last-minute tax payment. Taxes withheld from a portfolio distribution are treated as if paid to the IRS equally throughout the year.

What are the two 5-year Roth rules?

One 5-year rule pertains to contributions and the other pertains to conversions.

Contributions you make to a Roth IRA can be withdrawn at any time or age, tax- and penalty-free, since you already paid taxes on those funds when making the initial contribution. However, if you make a withdrawal before age 59 ½, including earnings on your contributions, you may face taxes or a penalty unless you meet certain criteria to create a “qualified” distribution. One such criteria is the 5-year rule which requires waiting five years from the first day of the tax year which you made your first contribution before you can withdraw any earnings from your account without penalty. For example, if you made your first contribution for the 2022 tax year on April 18, 2023, you must wait until January 1, 2027, before you can withdraw any earnings without incurring an additional 10% penalty. Additionally, if you use the funds for qualified expenses, such as a first-time home purchase, qualified education expenses, and medical expenses, you may be able to avoid the penalty – but not taxes – on the earnings if younger than 59 ½. It’s also important to note that the 5-year clock does not restart with each additional contribution and only applies to the first contribution of the account, creating an incentive for everyone to open and contribute (even just $1!) to a Roth IRA as soon as possible.

If you convert traditional IRA assets to a Roth IRA, you may be subject to a completely different 5-year rule for withdrawals. You must wait five calendar years from the year of your conversion to withdraw any earnings on those converted assets without penalty. So, whether you complete a conversion on January 1 or December 31 of this year, you still must wait until January 1, 2028. If you withdraw your earnings before the five-year period is up, you may be subject to a 10% penalty, in addition to any applicable taxes. Similar to the contribution rule, you can withdraw your converted funds at any time without penalty or taxes, as you have already paid taxes on those funds when you made the conversion. However, unlike contributions, each conversion starts a new 5-year clock for those converted funds. Taking advantage of Roth conversions early in your career can steer you clear of incurring additional penalties on portfolio gains, allowing you to take advantage of the tax-free growth of the Roth account. Furthermore, for those looking to enjoy an early retirement before 59 ½ with Roth assets, employing a Roth conversion ladder strategy, where you convert a certain amount over several years, can help avoid penalties.

If realized tax losses exceed realized gains in a given year, can the excess losses be used to offset gains in future tax years?

If your capital losses exceed your capital gains, as an individual you can carry forward the losses indefinitely into future tax years. Also, it is noteworthy to know that capital losses can also offset $3,000 of ordinary income annually.

Is there a way to determine in advance if a dividend will be qualified vs. non-qualified?

For a dividend to be qualified, and treated at more preferential tax rates, there must be two factors: 1. The dividend must have been paid by a US Corporation or a qualified Foreign Corporation and 2. The investor must have adhered to a minimum holding period. One key factor is the holding period before the ex-dividend date. For common stock, the investor must hold the shares for more than 60 days during the 121-day period beginning 60 days before the ex-dividend date. While a portfolio containing mostly publicly traded stocks will likely generate primarily qualified dividends over time, dividends from REITs, master limited partnerships (MLPs), employee stock options, and tax-exempt companies are generally not qualified. The classification of qualified vs non-qualified dividends is indicated in your 1099-Div issued by your broker each year.

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