Converting our financial goals to a financial plan | Financial Planning Series This is the last step in whole Financial Planning Process. Once we have identified our Current financial Status, Financial Goals and Investment Options, the next steps is to put everything together in a Financial Plan. Financial Plan is typically divided into four categories: 1. Contingency Fund – Your emergency Fund 2. Insurance Needs 3. Short Term Goals Plan 4. Medium and Long Term Goals Plan We have discussed each category in detail in the video with the example of two investor – Parul and Puneet. Find us on [More]
The Preparer walks through the four basics of EITC due diligence, and how tax preparers can ensure they are following IRS requirements in The Case for Due Diligence. NOTE: This video was produced by the IRS, which is solely responsible for its content. The information presented was current as of the date of publication but may now, in whole or in part, be invalid. EasyFile Software is providing this material for the convenience of current and future customers and makes no guarantees as to the accuracy or validity of the material presented.
In the second part of the video, we will discuss how to understand our financial status through net worth statements. A personal financial statement is a snapshot of an individual’s financial health, at one particular point in time. It is a summary of what is owned (assets), less what is owed to others (liabilities). Assets include cash and investments, your home and other real estate, cars or anything else of value you own. If assets are greater than liabilities, you have a positive net worth. If assets are less than liabilities, you have a negative net worth. You should regard [More]
The QuickBooks Online Fundamentals Webinar Series is targeted for accounting professionals who are new to QuickBooks Online. There were 3 webinars in this series. In Part 1 of the QuickBooks Online Fundamental series, I covered the following: –overview of Intuit, industry changes and intro to QuickBooks Online and the different subscription levels available (QBO Self-Employed, Simple Start, Essentials and Plus) –QuickBooks Online Accountant (QBOA): –how to sign up for it if you are an accountant, bookkeeper, tax pro, etc. working with multiple clients –details of the client dashboard, alerts and more –team members and how to add them –ProAdvisor Program [More]
In this segment, our speakers explore the area of trust and estate planning. This area includes drafting wills, trusts, and other estate planning documents, administration of wills and trusts, as well as trust and estate litigation. They’ll provide invaluable insight into what skills you’ll need to break into this area, what drew them to it, the pros and cons, and what a typical day in their practice entails. Speakers: Jonathan P. (JP) Lee, Shareholder, Sojourner, Caughman & Thomas, Columbia, SC Chasity S. Grice, Peppel, Gomes & MacIntosh, P.C., Memphis, TN Moderator: Liz Stone, Managing Director, The Dubin Group, San Francisco, [More]
Importance of Financial Planning | Steps to create a financial plan | Financial Planning Series Financial Planning is an ongoing process to help us make sensible decisions about money that can help us achieve our goals in life; it’s not just about buying financial products. Making a standalone investment in a financial product means nothing if we do not know the why I need this money and when do I need it. The process of financial planning should help us answer three questions. Where are we today, that is, our current personal balance sheet, where do we want to be [More]
Discussing Trusts and their role in an Estate Plan. Disclaimer: These are the opinions of Bonnie Kuhn and Richard Brockett. The Sandwich Crunch; Bonnie Brock…