Tax preparation is much more than filing a tax return. At Larry B. Parness we stay up-to-date on the continually changing tax laws in order to provide clients with prudent, year-round tax-management advice. Assessing the long- and short-term tax consequences of spending, investments, and related financial decisions are pivotal to our tax strategies; which is why developed tax plans can be followed throughout the year to help our clients reduce taxes, save money, and execute a smoother tax-preparation process. When“tax-time” arrives we counsel our clients through any tax-return issues, work with them to complete and electronically file all required forms, and compile any necessary back-up materials required for their tax filing.
Our one-on-one consultation services include:
- Business development and expansion
- Estate planning
- Lump-sum distribution advice
- Retirement planning strategies.
All of our services are client-specific, and all recommendations are tailored to each client's unique goals and financial situation. We work with our clients to come up with strategies for:
- creating and preserving wealth
- opening or expanding a new business,
- reducing tax burdens to maximize tax benefits
- securing retirement income
- establishing charitable legacies
- planning for a child's education
- maximizing wealth transfer,
- minimizing risk of financial catastrophe
There are a variety of ways for a business to manage their bookkeeping and accounting systems: they can be managed by the business alone, by a CPA firm, or as joint effort between the business and their CPA . Most successful businesses implement a process where the business owners and the accountants work jointly to manage bookkeeping and accounting system needs. It's our belief that clients should spend time on what they do best, while we make sure accounting systems run smoothly and efficiently — saving our clients time and money by setting up real-time, online bookkeeping solutions that will keep books straight, help ensure bills are paid in a timely manner, make invoicing clients effortless, and which will set our clients up tax filing.
At Larry B. Parness we don't believe in cookie-cutter approaches to financial planning. Developing a solid financial plan requires understanding who each client is (personally and financially), and what they want to achieve. We start by assessing your current situation, and based on that, setting attainable goals while deciding how to best measure progress. We have a six step process to evaluate a client's financial status and then develop a customized plan that will work over the long-term. The six steps are:
- Establishing and defining the client-professional relationship.
- Gathering client data (current savings, investments, and income; financial goals for future savings, investing, retirement, etc.).
- Analyzing and evaluating your current financial status.
- Developing recommendations for investing, savings, etc.
- Implementing recommendations.
- Monitoring progress based on our recommendations.