In today’s ever-changing economic climate, a professional accountant can be your most important asset. Building personal wealth and getting a handle on your retirement funds is essential. Accountants are true financial strategists. Of course, accountants also help during tax time, by preparing and filing your federal and state tax returns thus helping to ease any stress that time of year produces. Below are just a few of the reasons you should consider developing a relationship with a personal accountant.
- Financial Planning
Do you have financial goals and yet have no idea on how best to accomplish them? If so, you need the counsel of a personal accountant. Through strategic planning, and analysis of your current financial situation, an accountant can help you to devise a plan and stick with it, to achieve your financial goals. While there is an abundance of advice on the Internet, from a variety of sources, this advice does not factor in your personal goals and financial situation. Consult with an accountant for the best advice.
- Investment Portfolio Analysis.
Accountants are paid by the hour, not a commission on the amount you invest in a particular fund or account. Because of this, they can provide a more unbiased analysis of your current investment portfolio. With the current economic conditions, an accountant can evaluate your portfolio, highlighting areas for opportunities,
and pointing out areas of your portfolio that are underperforming. After the analysis is complete, and you have devised your financial goals, you can move forward with a wealth-building plan.
- Major Life Changes
If you are undergoing major life changes including the death of a spouse, the birth of a child, changing jobs, divorce, marriage or the starting of a new business, the advice and counsel a personal accountant can provide is invaluable. With all of these major life changes, your tax designation is changing; to ensure that you are adequately prepared for tax season, and for your new financial goals, consult with an accountant.
- Considering Opening Own Business
Are you ready to move away from the corporate life and start your own business? If so, your first call should be to an accountant. Not only will the accountant provide you with counsel on your personal finances but can also help you start your business with sound financial practices. Understanding the dynamics of starting a business, the tax structure, payroll taxes, and sales taxes is essential to your success. Even if you are just considering starting a home-based business, it is essential that you are prepared and educated. Allow an accountant to help you build a business that will flourish.
- Wealth Building
Wealth building is about more than investing; it is about structuring a budget, funding an emergency fund, investing and living within your means. Through an analysis of your current financial situation, you can learn where you can cut back on expenses, so you can invest in your future. An accountant can help you identify your current financial challenges and opportunities, and set you on course for financial freedom.
- Taxes
Death and taxes: the only constant in life. Like most people, tax time is a hassle. Where are all the receipts? What can I deduct? How can I keep from being audited? An accountant can prepare your taxes and give you advice on how best to move forward for the next year. The IRS tax code is complex. Allow an accountant who is well versed in the tax code to prepare your taxes.
