For most people, tax season is about filing returns and hoping for a refund. However, for financial professionals, a client’s 1040 form is more than just a tax document—it’s a roadmap to uncovering hidden opportunities.
By analyzing a client’s tax return, you can identify gaps in retirement planning, tax inefficiencies, and areas where additional protection may be needed. The numbers tell a story, and if you know what to look for, you can help clients make smarter financial decisions.
What to Watch For in a 1040
- Retirement Shortfalls: Are clients missing out on tax-deferred growth or underfunding their retirement plans?
- Taxable Income Patterns: Could they benefit from tax-efficient investment strategies or annuities?
- Large Interest & Dividend Income: Are they managing their wealth in the most tax-advantaged way possible?
- Dependents & Life Insurance Needs: Do they have adequate protection for their loved ones?
- Charitable Giving & Legacy Planning: Are they maximizing their contributions with tax-smart giving strategies?
Many advisors overlook tax returns as a source of insight, focusing instead on traditional financial planning tools. But by integrating tax analysis into your conversations, you can position yourself as a more comprehensive resource for your clients. It’s not just about finding sales opportunities—it’s about helping clients keep more of their hard-earned money and securing their financial future.
The challenge?
Most advisors don’t take full advantage of the insights hidden in a 1040. That’s why we created the 1040 Overlay Kit—a simple tool to help you quickly analyze tax returns and turn them into meaningful financial conversations.
The kit includes:
- A comprehensive 1040 Guide
- Breakdown of Secure Act 2.0 changes
- Important income tax, Social Security and Medicare updates for 2025
- Proven prospecting letters for tax professionals and clients
- Updated tax facts and reference tables
Don’t let tax season pass without leveraging this powerful resource. Request your 1040 Overlay Kit today!