a strong tax planning strategy can save you money on retirement withdrawals, keep your investments efficient, help you give more to charity, maximize your estate, and put more money in your pocket. while a vital part of your financial life, it isn’t the same as cultivating intentional tax strategies and implementing them throughout the year to proactively lower your tax bill. retirement income planning is a crucial component of your overall strategy, and determining the right withdrawal strategy for you is a significant part of that conversation. this could be with a donor-advised fund (daf), which enables you to remove highly appreciated assets from your portfolio without paying capital gains and potentially deducting the contribution.
the more money you save in taxes, the more you can reinvest in yourself and your future goals. as you can see, tax planning is a complex and comprehensive process. check out our free resource which details everything you need to know about your taxes in 2020. is it time for you to revamp your tax planning strategy? the views and opinions expressed in this content are as of the date of the posting, are subject to change based on market and other conditions.
but it’s one that will reap big rewards if you choose to pursue it. preparation and planning are key. when we see legislative developments affecting the accounting profession, we speak up with a collective voice and advocate on your behalf. you don’t have to be an expert in every area of their financial lives to serve as their primary point of contact. and with tax reform making things more complicated, clients will be looking for help navigating the changes. maybe you’ve started providing tax and financial planning services or you’re still thinking about offering these services. either way, by educating your clients about what you can do for them, you will deepen relationships — leading to improved client retention and more personal and professional fulfillment.
membership in both the personal financial planning section and the tax section will help you do just that. this video shares two educational opportunities, the financial planning certificates and the personal financial planning boot camp, for you to consider. and the roadmap to developing a tax & financial planning business will guide you along the way. adding the pfs credential lets clients know you are the primary point of contact for their financial needs. make sure your clients know you can help them by labeling yourself as a cpa financial planner. membership in both the personal financial planning section and the tax section will help you do just that. we are the american institute of cpas, the world’s largest member association representing the accounting profession.
a strong tax planning strategy can save you money on retirement withdrawals, keep your investments efficient, help you give more to charity, “accountants are licensed to provide tax advice and counsel and help to prepare one’s annual tax return or estate tax returns,” crowell says. an the aicpa offers a wealth of tax and financial planning resources to help you nurture client relationships, stay top of mind when opportunities arise and manage, financial advisor, financial advisor, financial advisor tax accountant near me, cpa financial planner salary, financial advisor vs accountant salary.
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