You wouldn’t ask an electrician to look at your leaky faucet, so why would you ask an investment manager what kind of trust to use to ease the burden of probate on an estate, or how to structure the buy/sell agreement for a business?
A financial advisor is commonly seen as a finance professional who provides guidance and advice to clients regarding investments and how to best achieve their short- and long-term financial goals. But financial advisors may also offer a wider array of services, from investment planning and estate planning to business succession planning and group benefits, among many others.
Saving enough money to live comfortably during retirement is a chief concern among countless Americans. For so many, retirement plan services provided by plan sponsor employers, unions, or other professional bodies maintain this critical financial lifeline, often via a 401(k).
With tax season squarely in the rearview but for any lingering questions still circulating among clients regarding the recent federal tax overhaul’s exact ramifications on returns next year, now is the perfect time for CPAs to take stock of such concerns and inquiries, and assess their own individual places within the greater trajectory of the financial industry, overall.
Every investor knows there are two primary financial markets, so-called “Bear” and “Bull,” and that historically, these alternate—the former characterized generally by falling prices; the latter by rising prices.
Tax loss harvesting is the act of selling securities to offset paying taxes on capital gains for a set year. The loss selling method gets done as a way to reduce tax liabilities in a high-income year. The extra money can then go into investing, and the long term compounding effects of the additional assets can be significant.