My Broker/Dealer does not allow us to give tax advice. How can we handle that issue?

Tax Clarity® is designed to bring a coherent view of overall tax complexities to advisors and their clients.  Under the current suitability standard and definitions of "tax advice", financial advisors may already have a duty to understand, consider and explain the tax consequences of various strategies. Indeed, the Certified Financial Planner (CFP) Board of Standards sates in its "Financial Planning Competency Handbook"

A competent financial planner can evaluate multiple years of prior 1040s and supporting documents to inform present tax-planning decisions and identify planning opportunities and areas of concern for the current and future periods.

If a client wants specific tax advice - meaning an opinion from a federally authorized tax practitioner who could prepare tax returns and defend the client in front of the Internal Revenue Service - the proper source would be a Certified Public Accountant, Enrolled Agent or Attorney.

As a mechanism of discovery and illustration, however, Tax Clarity can show advisors and their clients the hidden Effective Marginal Rates (EMR) that can significantly impact taxes and cash flows on a regular basis.  

As a Tax Clarity subscriber, additional disclosure can be added to the report to align compliance obligations. The Tax Clarity dedicated Support Team is also available to assist at 877.844.7213. Our free white paper is also a valuable resource on the topic: The Elephant & The Snowball: How Advisors Can, and Should, Talk Taxes with Clients