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Tax, Investment, & Planning Opportunities in 2018

LBA Haynes Strand works with our partners at HK Financial Services to provide wealth management planning strategies for our clients. Last week, LBA Haynes Strand and HKFS presented an economic update webinar. We understand that life and schedules are extremely busy, so we wanted to provide a copy of the webinar for our clients and friends who may have missed the live showing.

In the video, our speakers, John Bly, Principal and CEO at LBA Haynes Strand, Ann McCorkindale, Partner Emeritus at HKFS, and Suzanne Tudor, Director of Financial Planning at HKFS, discuss volatility and opportunities in the global synchronized expansion.

They also review financial and estate planning under the new estate tax law.

Tax, Investment, and Planning Opportunities in 2018

We hope you found this video helpful. Please feel free to contact us with any follow-up questions that you may have. Our partners and financial advisors are ready to meet with you!

Introducing Guidance Planning Strategies (GPS) For Wealth Management

LBA Haynes Strand is proud to introduce a new financial planning program for all of our clients. The tool is called GPS which stands for guidance, planning, strategies, and is offered through our wealth management affiliate, HK Financial Services. It allows us to work with our clients to assess their current financial situation as well as project what it could look like in the future.

GPS is a powerful program and experience because clients can keep track of their financial information while being able to see their “financial life” on a screen through images, charts, and graphs. GPS helps us highlight and discuss questions such as:

  • When might I be able to retire?
  • Will we have enough money in retirement?
  • What could my cash flow be like at retirement?

We incorporate tax and financial planning into the process to make certain our clients’ plans are on track and managed efficiently for tax purposes.

If you are interested in learning more about our GPS program and discussing your financial future, do not hesitate to contact one of our office locations today!

LBA Haynes Strand Wins Top Wealth Management Excellence Award

North Carolina CPA firm, LBA Haynes Strand, PLLC has been awarded the 2015 Top Wealth Management Excellence award from HK Financial Services (HKFS). LBA Haynes Strand earned this award by helping clients with strategic wealth management planning.

LBA Haynes Strand was founded on the belief that personal attention, trusted advice, and quality services are key elements to helping clients succeed. In order to further clients’ success, the Firm decided to designate HKFS as their preferred service provider of wealth management services.

This strategic partnership with HKFS provides independent and objective financial services to all clients. HK Financial Services is a Registered Investment Advisor, managing over $1.7 Billion for the clients of its 65+ CPA firms, while providing insurance, brokerage, and retirement planning for its CPA affiliate clients. LBA Haynes Strand is proud to be a part of this partnership.

To learn more, visit our Wealth Management page or contact any of our three office locations!

Preparation: The Key to March Madness and Tax Season Success

The NCAA college basketball tournament is always an exciting and often maddening time for all of us.  While these teams are looking to play the part of bracket buster, your accountants are working hard to see to it that tax season is not a maddening time of year for you.  CPAs thrive on this time of year, and leave it all on the court..I mean…office, to make sure that their clients receive the best possible results.

Last second shots and unexpected upsets may be common in the NCAA tournament but are not common in our world.  Tax planning is the reason for this.  Tax season isn’t something that is done over the period of a couple months time, this is something that is worked on continuously throughout the year.  Accountants and clients alike must be equally prepared come tax season.  The quote of basketball coaching legend John Wooden sums it up best, “Failing to prepare is preparing to fail.” So let’s take a look at some steps that you can take to prepare yourself against the stressful affects of the April tax deadline:

Don’t Procrastinate … Be Proactive

Tax planning is not one single task, designated to one single month. Usually, when people finish their taxes, they breathe a big sigh of relief. Whew, glad that’s over. But it’s not over, in fact, tax planning for the next year should begin shortly after your taxes are filed for this year.

See what do we mean by adopting a proactive mindset? If you’re thinking ahead, and keeping your finances in order through the entire year (and not waiting for March to prepare them all) you’re avoiding unnecessary stress during tax season.

Collaborate With Your CPA

Most people attempt to prepare their taxes on their own. And most people miss out on golden financial gains. The average taxpayer does not have the expansive financial knowledge and insight of a professional accountant, nor should they, but that’s what makes do-it-yourself tax planning such a risky idea – you’re gambling with possible financial gains.

When you contact a CPA firm, not only do you receive the professional guidance needed to navigate complicated tax territory, you receive financial consultation catered specifically towards your company’s future.

Consider Wealth Management

Part of tax planning is considering your investment options. Most people shy away from investments because they strongly dislike the idea of possibly losing money. Investing is not a gamble, it is a calculated risk when consulting with a wealth management advisor.  The advisor takes in to account whether you are risk adverse and builds a plan that fits your needs and your desires. A wealth management service, along with your CPA and financial advisor, guide you in making the right decisions for building a sustainable financial future.

Discussion Before Decision

Even after you’ve learned a thing or two from your CPA firm, it’s still always a good idea to consult with them on significant financial circumstances. For example, if you’re thinking about selling your business, a CPA firm can give you the tax logistics, implications, and benefits behind all your possible options.

There are a number of financial factors that go into tax planning, and cramming them all into a one-month timeframe creates a chaotic mess of last-minute desperation. Being pro-active in your tax planning and consulting with professionals will help you avoid the stress and headache that are often associated with the April tax filing deadline.

Click the button below to begin your conversation with a coach..err…certified public accountant with LBA Haynes Strand and begin seeing the results of being prepared.