Tax Mistakes to Avoid in Retirement
CPAs are often experts in the finer points of tax law – however, when it comes to retirement planning, there is sometimes a gap in how a tax plan should integrate a lifelong investment plan. All those years of diligent saving can be quickly undone not by choosing the wrong assets but rather by not […]
How Do Advisors Actually Add Value?
As a CPA, you’re highly attuned to the value you add to your clients, and often, you can point to a figure and say, ‘This is how much I’ve saved you this year in taxes.’ A financial advisor’s value add can seem quite nebulous in comparison, as there isn’t usually a direct way to compare […]
Are You Retirement Ready in 2024?
It’s 2024, and the world is changing fast – perhaps a bit too fast. Wouldn’t it be nice to finally get away from the hustle and bustle of running your firm or working your way up the career ladder and finally settling into that long-awaited – and well-deserved – rest? Unfortunately, even after years of […]
The Sequence of Returns Risk
As you approach retirement, you have a difficult decision to make – reallocate your assets to align with a more risk-averse profile for stability or to keep your funds invested in high-growth assets such as stocks. Each decision has its own issues. By purchasing more bonds, you’re reducing the potential negative impact on your portfolio […]
Succession Planning for CPAs
Eventually, you’ll come to the day when it’s time to hang up your accounting hat and settle into retirement bliss. And while you’ve probably helped many clients develop tax-efficient succession strategies, have you ever considered your own, especially regarding your retirement goals? This article lays out some of your options as the owner of an […]
A Small Business Owner’s Guide to a Tax-Efficient Retirement
As a small business owner and CPA, you understand the importance of saving for retirement. Having a sizeable nest egg can make a significant difference in your retirement lifestyle, allowing you to live the retirement you’ve always dreamed of. However, simply sticking to a budget, investing as much as possible, and withdrawing from your savings […]
When and Why to Rollover your IRA or 401(K) into an Annuity
While saving for retirement, you may have heard of rolling over your IRA or 401(K) into another account or financial product. For example, you can roll your retirement savings into an annuity, an insurance product, a brokerage account, or another retirement plan, amongst others. But should you roll over your retirement savings, and if so, […]
Maximizing Your Generosity Before TCJA Sunsets
As the year draws to a close and the spirit of giving is in the air, it’s a timely reminder for CPAs and financial professionals to revisit estate planning strategies. This period is not just a season of generosity but also a critical juncture for tax planning, especially in the waning days of the Tax-Cut […]
Is Your Estate Ready for the Post-TCJA Era?
You’ve worked hard to build up your accounting practice. Decades of hard work have translated into a sizeable estate, and now it’s time to start considering your legacy with as little possible going to the IRS. Since it is the season of giving, you may want to consider a gifting strategy to begin the process […]
Annuities vs Life Insurance: What’s the Difference?
You want to plan for retirement, yet there are so many uncertainties – life expectancy, the size of your nest egg, market volatility, and finally, health concerns to top it all off. You seek stability, a safety net, and perhaps something to leave your loved ones. Who do you turn to? Where do you turn […]
