With provisions in the Tax Cuts and Jobs Act (TCJA) expiring at the end of this year, CFP professionals are wary of the potential risks to their clients’ financial goals, reports the CFP Board’s latest research.
According to the 2025 CFP Professionals Taxes Survey, 88% of CFP professionals believe tax changes will have a critical risk on their clients’ financial objectives, with retirement income (57%) and legacy planning (53%) most vulnerable to the changes. Other susceptible goals include charitable giving strategies (18%), business succession (16%), and real estate investment plans (8%).
“We’re at a tipping point that will define the financial future for millions of Americans,” said CFP Board CEO Kevin R. Keller, CAE, in a statement. “The risks are real, and time is running out.”
As a result, clients are most concerned with retirement account taxation (61%), current income tax exposure (59%), and the impacts of potential tax rate changes (55%).
To combat these upcoming alterations, CFPs are suggesting their clients look into Roth conversions (64%), increasing retirement plan contributions (64%), and tax-loss harvesting (61%).
Others are broadening their strategies, with 78% who are strategizing their timing on capital gains, 75% who plan to implement tax-efficient retirement income strategies, and 71% who are maximizing tax-deferred accounts to help protect client wealth. Fifty-eight percent of professionals recommend adopting tax-efficient funds while 53% are suggesting asset allocation strategies to clients.
Impacts to financial advice
The elimination of tax deductions could stall accessibility to financial advice for some, the CFP Board reports. According to the findings, 52% expect the changes to have negative impacts on consumer access, and half of respondents believe restoring these tax incentives could help more workers obtain professional guidance.
To expand access to financial planning services for middle-income workers, 46% of CFP professionals recommend an above-the-line tax deduction while 39% advocate for the implementation of a tax credit system.
“As we approach the expiration of TCJA later this year, restoring and expanding tax incentives for financial advice could help ensure that more Americans have access to the professional expertise they need to navigate these significant changes and build the future they envision,” said Erin Koeppel, managing director of Government Relations and Public Policy Counsel at CFP Board.
The 2025 CFP Professionals Taxes Survey took place in January 2025 and includes responses from 312 CFP professionals.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
