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On the Importance of Proactive Tax Planning

Longview Advisors offers a dual focus on long-term financial planning and tax strategies, providing essential and holistic counsel to clients that eliminates surprises, and mitigates the high cost of tax day. Those who practice traditional tax preparation (CPAs, accountants, enrolled agents, etc.) without the ongoing review and assessment of their clients’ entire financial situation put their clients at risk of long-term tax consequences costing additional tax liabilities and delaying their financial independence. A just-published white paper, Tax Alpha: How to Add Measurable Value with Tax-Focused Financial Planning, illustrates the benefits of such forward-thinking for financial planners, accountants and their clients.

“Looking at taxes as a once-a-year task, rather than a pervasive feature of one’s financial life is short-sighted, and frequently imposes costly consequences,” said John Miller. Longview Advisors is one of a select number of practices nationwide that adheres to a tax-focused model for financial planning. The Alliance of Comprehensive Planners is an organization of some 150 financial planning firms that provide a tax-focused planning approach for their clients. ACP members Jonathan Heller, CFA, CFP®; and Robert Walsh, CPA/PFS, CFP®, CRPC; authored the white paper available for download here: Tax Alpha White Paper

According to Heller and Walsh, “Tax-focused planning is forward looking. It is, at its best, an ongoing process, beginning on January 1 of each year and continuing for the next 12 months. Combining tax preparation with ongoing and diligent tax planning can have a significant impact on a client’s financial life.”

ACP members have been practicing under this standard for the past 20 years by promoting the benefits of tax-focused, fee-only financial planning within the profession. 


About ACP

The Alliance of Comprehensive Planners (ACP) is the community of tax-focused financial planners that operate under the retainer model. This not-for-profit organization trains its members in the ACP System™, an extensive program based on the highest ethical standards and most innovative practices in the financial planning industry. As fee-only fiduciary financial planners using the retainer model for compensation, ACP members provide a distinct alternative in the marketplace. To assure that their clients’ financial plans are comprehensive, they consider not only interest-earning, real estate and equity investments, but also the tax consequences that can impact or be impacted by investment and financial strategies. ACP member advisors optimize the use of assets for tax efficiency, growth and security to ensure their clients’ goals are achieved, and maintain their CFP® or CPA/PFS (or equivalent) designation and/or licenses. For more information, visit www.acplanners.org.