Share This Article
The role of a CPA in financial planning is to offer clients comprehensive advice about tax, retirement and estate plans. They can also help with investment management and provide guidance on insurance policies.
CPAs can obtain a certification as a personal financial specialist (PFS) or certified financial planner (CFP). Both credentials require a bachelor’s degree and at least three years of experience.
CPAs are well-positioned to provide financial planning services because they already understand their clients’ financial situations and have developed a trusted relationship with them. Many CPAs offer services that range from tax planning to retirement planning and investment management.
Whether you need help with your tax preparation or want to ensure that you are maximizing the tax benefits available to you, you can count on a Nashville CPA to guide you through the process. The reputable CPAs at Jackson Thornton will work with you to develop a personalized game plan that helps you keep more of your hard-earned money.
The Chartered Financial Consultant (ChFC) designation requires seven required and two elective courses that focus on insurance, income tax, investments, retirement planning, and estate planning. The specialized certification also involves three years of business experience and adherence to the American College’s code of ethics.
Retirement planning is a key part of the financial planning process. CPAs can help clients develop a strategy for accumulating and managing assets to ensure that they are able to retire with the lifestyle they desire.
401(k) plans and IRAs are among the most common workplace retirement savings programs available. Employee contributions are tax-deferred, and the plan can also offer other benefits such as saver’s credits.
Self-employed people and small business owners typically have more flexible retirement savings plans than employees at large companies. In addition to IRAs, these individuals may have profit-sharing and solo 401(k) plans.
Whether you are just starting to think about your retirement or have already established an accumulation strategy, CPAs in Nashville can guide you in the process. They can help you determine how much you need to save, set up a regular saving program, and manage your investments effectively to achieve your goals. Depending on your individual needs, they can also help you with estate and investment planning.
CPAs in Nashville can offer you a wide range of services related to your financial life. These include estate planning, tax planning and retirement planning.
An estate plan will ensure that your assets pass to your heirs in the way you desire. It will also help to minimize the cost of probate and lessen taxes at your death.
The process of creating a will or trust is a complicated one that requires the expertise of several professionals, including accountants, attorneys, and insurance advisors. We can assist you in navigating these complexities and create solutions that benefit you and your beneficiaries.
Regardless of your age or stage in life, it is important to take time to prepare for your future. Our team of experienced CPAs can guide you through the entire process and help you determine how best to execute your plans.
Investment planning is a process that includes assessing your current financial situation, defining your goals, determining your risk tolerance and time horizon, deciding what to invest in, and monitoring and rebalancing your investments.
Typically, investment planning includes the use of a variety of investment vehicles such as stocks, bonds, real estate and gold to maximize returns while minimizing risks. A good investment plan should also include insurance policies that protect your money from unforeseen circumstances like job loss, theft and medical emergencies.
Several CPAs in Nashville offer investment planning services. Generally, they work with clients who are seeking to meet long-term goals. They also provide investment advice in areas such as taxation, retirement planning and estate planning.