Our Services
Tax Planning
Many individuals fail to take advantage of substantial tax deductions Even if you have a simple return, tax planning can reduce your tax bite. Tax planning should be a long-term, year-round process. Decisions you make today can affect your tax bill next year --- and beyond.
Life events also can alter your overall financial picture, and often your tax consequences. Children are born, people change jobs or receive promotions, marriages and divorces occur, parents die, investments succeed and fail. Tax laws change nearly every year and can have a profound effect on tax planning. Money saved by reducing your taxes can be directed toward your personal goals: children's education, a comfortable retirement, vacations, and building and preserving your estate.
Retirement Planning
What kind of retirement do you envision? Do you want to retire early, or will you work part-time beyond age 65, as many are doing? Do you plan to travel around the world or work in the garden? How is your health? Do you plan to move when you retire? What other financial goals do you have besides retirement? The non-financial issues can be as important as the financial decisions when it comes to determining your financial strategies.
The traditional - now widely disputed - rule of thumb said people need 60 to 80 percent of their pre-retirement income to maintain their lifestyle after retirement. But that might not be enough if you plan to travel a lot or if you anticipate high medical costs or other above-average expenses.
With your goals in mind, we will look at your net worth, current and projected expenses and sources of income. This in conjunction with the current value of your assets and rates of return will assist in determining how much more, if any, you will need to set aside to meet your retirement goals.
Risk Management
You need to assess your insuranceneeds in light of a broader approach called Risk Management. It is important to determine how you can avoid or reduce risks that could cost you money For example, stopping smoking can reduce your life, medical and auto insurance premiums.
Insurance should be used to cover only those significant risks to your person, your property, and your assets that you cannot sufficiently avoid, reduce or self-insure But it isn't a question of having enough or too much insurance. It's a question of whether or not you have the right kinds of insurance.