The Difference Between A Tax Planner & A Financial Planner - PowerPoint PPT Presentation

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The Difference Between A Tax Planner & A Financial Planner

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Whether you’re a small business owner or an individual looking to take better care of your finances, you may be curious to know the difference between a tax planner and a financial planner, and which of the two you might benefit from using the services of. – PowerPoint PPT presentation

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Title: The Difference Between A Tax Planner & A Financial Planner


1
The Difference Between A Tax Planner A
Financial Planner
2
  • Whether youre a small business owner or an
    individual looking to take better care of your
    finances, you may be curious to know the
    difference between a tax planner and a financial
    planner, and which of the two you might benefit
    from using the services of.
  • With almost all areas of personal finance being
    connected and related to one other, as an
    individual, youll find that there is an overlap
    between the roles of a tax planner and a
    financial planner, whereas if youre a small
    business owner, the differences may be a little
    more distinguishable.

3
  • What is a tax planner and how can they help you
    with your financial circumstances?
  • Income taxation is the chosen specialist topic
    for tax planners, and whether referring to an
    accountant, a CPA (certified public accountant)
    or a tax attorney, each will have a set of
    recognized professional credentials and should be
    well versed in the subject matter. Should you be
    using the services of a tax planner, then their
    work will be focused upon the various elements of
    income tax related to you or your business. That
    said, since there are many wide ranging financial
    matters that income taxes encompass, most tax
    planners will have sound knowledge of many other
    aspects of personal and business finances, too.

4
  • Its often this expanse and breadth of knowledge
    which can make them seem akin to a financial
    planner.
  • Using the knowledge and experience that seasoned
    tax planners have, they will help you to minimize
    your income tax for the current year and guide
    you as to how best to minimize them in the
    future.
  • What is a financial planner, and how might they
    be able to help you?
  • The term financial planner is a much broader
    one than a tax planner, and the services that
    they can offer may be of a more varied nature. To
    help clients know

5
  • how best a financial planner can help them, they
    often have professional designations such as CFP
    (certified financial planner) or RFP (registered
    financial planner), and they can also play roles
    in other professional fields such as CPAs or
    attorneys.
  • Due to the broad term of financial planner and
    the variety of ways in which they can help
    individuals and small businesses, they can be
    confused with other professionals working within
    the financial industry, and it can be difficult
    to know exactly which type of financial expert
    you might need the help of.

6
  • If your business is within a specific industry,
    then you might be wise to seek a financial
    planner with expertise in that area, otherwise
    you may fare better with one who covers a wide
    range of industries.
  • Financial planners should never seek commission
    from clients or receive any kind of renumeration
    for signing them up to specific products or
    investments the advice and guidance that they
    give you should be unbiased, clear and legally
    sound.

7
  • As both a financial planner and a tax planner are
    involved in money matters surrounding taxation,
    you may find that your circumstances warrant the
    services of both, but a tax planner will
    naturally be best placed to give specific advice
    and guidance related to your tax situation.
  • At Heyer Associates, we proactively assist our
    individual and small business clients in meeting
    their goals. Our key area of focus is ensuring
    that our clients remain compliant with federal
    and state tax laws by providing them with high
    quality accounting and tax preparation service
    Coral Gables. If you are looking for tax
    preparation service in Miami, Heyer Associates
    would be a right option.
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