Need A Financial Roadmap?

Some people are do-it-yourselfers, while others prefer to focus on their areas of expertise and outsource the rest. In financial planning, there’s a cavern of difference between novice and knowledgeable when it comes to growing and protecting wealth. Whether you live in a large city like Los Angeles or a second-tier town populated mostly with smaller businesses like Albuquerque, you will want to at least consider engaging a professional CPA firm.

CPA firm Los Angeles to Albuquerque

Why seek professional financial planning services? Let us count the ways. For example, do you know the answers to the following questions:

  • What is the difference between actively managed funds and passive index funds?
  • What is tax-loss harvesting?
  • When should you choose a traditional IRA versus a Roth IRA?
  • When are real estate improvements deductible in a tax year? And when must they be depreciated?

If these kinds of questions don’t make you giddy with anticipation at researching the answers, then it’s time to consult a professional. Especially because in reality, the process of building a robust financial plan for your business or yourself involves a great deal more than simply answering a handful of questions. You should begin with the end in mind.

Financial Planning Nuts and Bolts

Financial planning is a broad industry and can mean different things to different people, so it’s prudent to begin by drafting a brief summary of what you are hoping to achieve. Are you looking for personal financial assistance or financial planning for your business? Do you invest in real estate? Or, are you in manufacturing which routinely requires large capital investments in equipment?

This self-analysis exercise does not need to be a time-consuming endeavor, just take a few minutes to jot down a page of goals and needs that you can periodically reference. You see, knowing the answers to these types of questions will help you narrow your selection of financial planning professionals to a firm with expertise pertinent to your unique circumstances.

Then there is the matter of credentialing. A CPA is a certified public accountant who has passed rigorous exams and met licensing requirements to practice as such. What’s more, they are well-positioned to provide guidance on tax optimization in combination with investing, business growth planning, and how business revenue and personal income intersect.

Your CPA firm Los Angeles to Albuquerque to Baton Rouge will help you evaluate where you are today, listen to where you want to be five, ten, fifteen years from now, and will partner with you to build the roadmap that gets you there.