How Advisors Can Offer Tax Planning And Stay In Compliance

CFO News Room

Taxes are a central component of financial planning. And yet, despite the prominent role of taxes in financial planning, advisors are often prohibited by their compliance departments from making recommendations for a specific course of action on a certain tax strategy.

Easing the Struggles of the Annual Budgeting Process

Planful

What are some of the biggest problems with the annual budget, and how can teams improve budget planning? Budgets Are Simple and Yet So Complex. Budgets can be strange. After all, a budget is simply a financial plan for a set duration of the company, including the projected income and expenses of the business. When considering all of the variables involved, it becomes clear that budgeting is actually an incredibly complex endeavor.

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GOP’s Corporate Tax Break May Be Phased Out After A Decade, Source Says

PYMNTS

The GOP released its tax plan Thursday (Nov. 2), offering a glimpse into its Tax Cuts and Jobs Act that includes plans for corporate taxes. According to reports in The New York Times , Republican tax reform efforts would impose a minimum global tax of 10 percent for American multinational corporations. The corporate or business tax rate would also be cut from 35 percent to 20 percent according to the new plan.

To Temper the Effects of Monetary Restraint, We Need Pro-Growth…

CFO News Room

By increasing the cost of borrowing and thereby quelling demand, and by cutting taxes and thereby unburdening supply, Reagan and Volcker established the conditions for an economic recovery. While interest rates rose to curb demand, taxes were cut to spur supply.

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How Advisors Can Help Clients Plan To Take A Sabbatical

CFO News Room

A sabbatical refers to a period of time in which someone takes an extended, planned break from work prior to retirement, often as an opportunity to focus on their wellbeing and/or to gain valuable perspectives of life outside of work. Develop A Near-Term Savings Plan To Fund The Sabbatical.

101 Ways Financial Advisors Can Add Value For Their Clients

CFO News Room

Traditionally, investment planning has been at the forefront of how financial advisors add value for their clients. But this can create challenges for the advisor as well, as they will have to spend significant time managing the variability of the planning needs of their diverse client base.

Why Rich Business Owners Should Hire the Professional CFO?

Together CFO

Having an abundance of wealth to take care of, You definitely don’t have the time for critical forward planning for the business. But, you should know the Tax-Saving Tips for ensuring your wealth is managed properly. A CFO has premade succession plans that fit the company goals.

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5 Reasons Why You Need A SaaS CFO

Michigan CFO

But come funding time, many SaaS companies find in organizing their finances that their budgeting system is a mess. The SaaS CFO can help plan and strategize for growth with actionable goals and key performance indicators. Budget Forecasting With SaaS CFO Metrics.

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Top Financial Planning Tools Used by Financial Advisors

CFO News Room

It’s hard to imagine the days of financial planning and portfolio management without technology. One very common software program used by financial advisors is financial planning tools that aggregate financial strategies into one solution. Orion Financial Planning.

Why Should You Hire KC for Tax Accountant in Los Angeles

Together CFO

It is nearly that time of the year when year-round tax planning needs to be done. tax laws are complex and used to change from time-to-time, which brings stress for a business owner. But, they can Hire Tax Consultant for Business to do so on their behalf.

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Creating A Partnership To Serve Your Collective Community

CFO News Room

Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth , a turnkey wealth management services provider supporting thousands of independent financial advisors. Incorporating Assets Under Advisement In Holistic Planning Fees For A Younger Clientele [05:07].

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Weekend Reading for Financial Planners (Feb 19-20) 2022

CFO News Room

We also have a number of articles on retirement: How data from both the United States and United Kingdom show that average annual spending after inflation declines throughout retirement, and the implications for creating financial plans. Executive Summary.

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Weekend Reading For Financial Planners (Nov 19-20) 2022

CFO News Room

A potential compromise during the lame-duck Congressional session could see a boost to the child tax credit and extended tax breaks for businesses. A new research study suggests that delaying taxes in retirement is often not the optimal course of action. Executive Summary.

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Understanding Small Business Taxes in 2021

CFO Share

It is a new year and new set of small business taxes. This year will be particularly complex as provisions from the CARES act unwind and the sales tax landscape continues its tortuous evolution. Sales tax risk is on the rise for small businesses. Federal income taxes.

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Best Entry-Level Finance Jobs for 2022

CFO News Room

Popular entry-level jobs in fiance include analysts, tax associates, auditors, and financial advisors. In the United States, professionals who plan to deal with investments and finances must pass a series of licensing exams. Junior Tax Associate/Accountant.

Small Business CFO's: Do You Need One?

Boston Startup CFO

Company founders and CEOs are rarely equipped to handle financing strategies, budgets and dealing with investors. The accountant and I met every quarter to make sure we were on track, especially with taxes. It’s a growing pain that many small businesses have.

Weekend Reading For Financial Planners (June 25-26) 2022

CFO News Room

From there, we have several articles on tax-planning strategies: While tax-loss harvesting has gained newfound attention during the current market downturn, other tax-planning strategies, including asset location and Roth conversions, can also provide significant value to clients.

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Canada Seeks Digital Tax On Google, Netflix And Other Global Web Giants

PYMNTS

Facing a growing budget deficit and the cries from local businesses about fairness, the Canadian government is proposing a new digital tax on foreign web giants such as Netflix, Facebook, Amazon and Google. The digital tax is part of a broader five-year, $3.4

The 4 Keys to Building a 100% Remote Bookkeeping Practice

The CFO College

Valuable Expert : Becoming a valuable expert can mean expanding your accounting and tax knowledge in your niche, or adding CFO-level services, tools, and skills to serve clients in any industry.

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Using Detailed Meeting Checklists to Drive Referral Growth

CFO News Room

Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth , a turnkey wealth management services provider supporting thousands of independent financial advisors. We’re very focused on the advice aspect of planning versus the product aspect of planning.”

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Leveraging Surge Meetings For More Efficient Client Reviews

CFO News Room

Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth , a turnkey wealth management services provider supporting thousands of independent financial advisors. So, we get paystubs at every meeting, we get tax returns every year. Executive Summary.

The Latest In Financial #AdvisorTech (June 2022)

CFO News Room

Lumiant launches a new financial planning software solution that aims to supplement existing tools by providing a more engaging client portal specifically to better engage the non-financial spouse. In other words, estate planning conversations with clients generated good sales opportunities.

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Showing Your Value To Prospects If Everything Is Going Well

CFO News Room

As while most financial advisors have a wide range of services to offer, people rarely have a ‘comprehensive financial planning’ problem. In 2010, Michael was recognized with one of the FPA’s “Heart of Financial Planning” awards for his dedication and work in advancing the profession.

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From Executive Assistant To COO Scaling A $4B Advisory Firm

CFO News Room

Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth , a turnkey wealth management services provider supporting thousands of independent financial advisors. Leveraging Partnership To Install A Firm Succession Plan [32:57]. Executive Summary.

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From Executive Assistant To COO Scaling A $4B Advisory Firm

CFO News Room

Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth , a turnkey wealth management services provider supporting thousands of independent financial advisors. Leveraging Partnership To Install A Firm Succession Plan [32:57]. Executive Summary.

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Guiding Clients To Design Rich Lives With Spending Dials

CFO News Room

Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth , a turnkey wealth management services provider supporting thousands of independent financial advisors. First of all, nobody wants to keep a budget at all. Michael: Budgeting. Executive Summary.

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Systematizing Planning To Maximize Clients’ Return On Life

CFO News Room

Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth , a turnkey wealth management services provider supporting thousands of independent financial advisors. And so, when they want to spend money, I say, “Does it fit in your budget? Is the plan still valid?

Pursuing Intrapreneurship As A Path To Growth Within A Firm

CFO News Room

Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth , a turnkey wealth management services provider supporting thousands of independent financial advisors. So, that was it on the planning software side. Executive Summary.

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Separating Marketing From Sales To Scale Sustainable Growth

CFO News Room

Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth , a turnkey wealth management services provider supporting thousands of independent financial advisors. Some of them we might have set up something 15 years ago and there’s not a lot of core planning needed there.

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Surviving the pandemic aftermath: an FP&A perspective

Future CFO

The virus continues to ravage the global population, effect changes in consumer behavior, unearth workforce planning challenges, precipitate demand drops, and create supply chain shocks across the business world. To be fair, gaps in financial planning and analysis existed before COVID-19.

How To Prepare For Biden’s Student Loan Debt Relief Plan

CFO News Room

But student loan forgiveness is just one part of the administration’s plan for student debt relief. While parts of the administration’s plan will happen automatically (for instance, about 8 million borrowers with IDR plans already have income information on file with the U.S.