Not so fast, taxpayers! Proceed with caution, warns the IRS, after New York and New Jersey approved workarounds involving charitable organizations. Earlier this year New Jersey Governor Phil Murphy and New York Governor Andrew Cuomo signed new legislations in their respective states allowing local governments to set up charitable organizations that can accept property tax […]
Taxpayers Proceed With Caution Warns the IRS Read More »
This month we’re taking a closer look at a few types of people who frequently hire financial advisors, and how to take their unique needs into consideration when working on their financial planning. Today we’re going to talk about financial planning for medical professionals. Just like with lawyers and those planning for business succession, there
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Financial advisors tend to see the relationship between advisors and CPAs as strategic, well-balanced and win-win. From your vantage point, you’re bringing value to the relationship by providing your services. And the CPA is bringing value to it when they refer you to their clients. Unfortunately, CPAs don’t usually see things the same way. The
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Financial services companies have been competing with CPAs in the accounting and tax business for years. Many CPAs are or are in the process of becoming licensed investment advisors. As a Financial Advisor, you may find yourself avoiding a CPA who list financial services or specialty insurance licenses on their websites. It’s easy to assume
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This month we’re focusing on answering some of the most common “quick questions” that clients asked. If you missed our previous posts in this series, you can find them here, here, and here. All caught up? Great! Let’s jump into our final quick question: “How much should I pay in estimated tax payments?” It may
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Last week we kicked off the month by giving you the information you need to decide which entity is best for you. This week, we want to talk about something that you might find to be a lot more fun—tax deductions! As a Financial Advisor, you can deduct your mileage and other auto expenses, office
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