High-net-worth retirees often reach a point where DIY tax software like TurboTax no longer offers the peace of mind their $2M–$8M portfolio requires. In this episode we pull back the curtain on the referral conversation we have with clients and prospects.

We discuss the increasing prices of tax preparer professionals and the shift that many retirees make from saving money to buying freedom, and why your tax preparer and financial planner must be on the same page to avoid tax inefficiencies.

Resources:

Year-End Tax Planning Checklist for HNW Retirees

Timestamps:

(00:00) – Intro

(01:20) – Mindset Shift

(06:45) – The Cost of Tax Prep

(11:01) – Spectrum of Price

(15:55) – What does more expensive tax prep get me?

(18:00) – Expectations are Key

(24:12) – Conclusions

Disclosures Direct Link:

www.retirementtaxmatters.com/disclosures

Are you tired of playing the middle man between your CPA and your financial planner? (Or all the roles yourself!)

For many high-net-worth retirees, tax season feels like a burden not because of the cost, but because of the coordination. You have a CPA looking in the rear-view mirror to file your forms, and a financial planner already looking into the new year to strategize your future. But if they aren't talking to each other, you are the one stuck in the middle carrying the weight of complex decisions.

In Episode 20, Garrett and Adam kick off a special two-part series on building your ideal tax team. They break down the critical difference between Tax Preparation (compliance) and Tax Planning (strategy) and explain why relying on just one often leads to missed opportunities .

This episode is about relieving the pressure, buying back your mental RAM and developing our thesis that there is space at the tax table for you, your tax preparer, and your financial planner.

Key Topics Discussed:

(00:00) – Introduction: Kicking Off the 2-Part Tax Team Series

(01:45) – The "Tax Guy" Confusion: Can Financial Planners File Your Taxes?

(02:30) – Rear-View vs. Windshield: Defining Tax Prep vs. Tax Planning

(05:10) – The Core Conflict: Saving Taxes Now vs. Saving Over a Lifetime

(06:15) – The "Gap" Story: When the CPA Doesn't Have the Investment Data

(08:00) – The Hidden Value: Why Your Advisor Must Talk to Your CPA Before Dec 31st

(09:40) – Removing the "Brick in Your Backpack": The Value of Delegation

(10:20) – Teaser for Part 2: Who Should You Hire? (CPA vs. EA vs. DIY)

Resources:

Disclosures

With the release of new IRS guidance on Trump Accounts (Section 530A), the landscape for gifting to grandchildren hasn't just gotten bigger—it’s gotten better.

For years, high-net-worth grandparents have felt forced to choose between the educational tax benefits of a 529 Plan and the flexibility they actually want. In this episode, Adam and Garrett explain all these options finally allows you to align your wealth with your values without compromise.

We move past the headlines about the government's $1,000 seed match to build a framework for your giving to your next generation:

• For Education: Why the 529 Plan (with its new $35,000 Roth rollover buffer) is still best account for those that are education-oriented.

• For Flexibility: How the taxable Custodial Account (UTMA) may allow your grandchildren to pay for a wedding, first home, or maybe start their own business—and enjoy seeing your grandchild use it during your lifetime.

• For Retirement: How the new Trump Account removes the earned income requirement, allowing you to jumpstart a tax-deferred retirement nest egg for a newborn starting at day one.

Listen in to learn how to structure a giving plan that allows you to give to every grandchild equitably while honoring their unique path in life.

Key Topics Discussed:

(00:00) – Intro

(01:35) – 30,000 Foot View

(05:45) – Trump Accounts

(10:06) – No Earned Income Needed

(13:12) – The Roth Conversion Strategy

(16:46) – Trump Accounts vs. 529 Plans

(20:16) – Custodial Accounts

(22:33) – Conclusion

(26:04) – Outro

Links:

Disclosures