Tax Time Blues: Why Is This So Hard?

• The psychological hit that comes with facing financial realities such as income, debts and losses–never mind the taxes themselves–can trigger an emotional drain. And, clients’ tendency to procrastinate can add to the stress.

• An abundance of readily-available information about tax preparation can complicate your ability to advise clients. Clients may have seen articles and posts that suggest a “wait-and-see” approach, or simply read information that does not apply to them. So, as you set out to counsel your clients, you may first have to overcome the hurdles of misplaced assumptions and misinformation.

But, there’s a bright spot! Many advisors find that the topic of charitable giving can lift clients’ spirits, even during a stressful tax season. Philanthropy can draw positive emotions to the surface. As you work with your clients over the next few weeks, be sure to talk about charitable giving. Many of your clients, for example, have already established donor-advised or other types of funds at the Oklahoma City Community Foundation. Other clients could benefit from getting started with the Community Foundation right away.

Please reach out to our team. We are honored to support your client relationships during tax season and throughout the year.

Our experienced team is here to work with you and your clients to customize a giving strategy to meet their charitable interests. By doing so, you will better meet clients’ needs, strengthen relationships and improve client retention. We love working with you to create positive change for Oklahoma!