Understanding Your Financial Team: Key Roles Explained

One of the pieces that many people just don't understand. First of all, they don't even realize that there's a difference at all between their cpa, their tax preparer, and the tax strategist. Now, I really look at it as there's generally four financial people within your. Your basic level financial life. Okay, so you've got your financial advisor, right? And that person hopefully knows a little bit about insurance. They should know a lot about retirement, these kinds of things, right? They're looking at your overall financial health. You have potentially a bookkeeper somebody or an accounts payable somebody that's helping you pay the bills, track the money. That could be you, could be your spouse. All right, you have your tax preparer. So that's the person that takes all of the information at the end of the year, gets it all into the forms, make sure that you're not going to jail, right? Picking and checking the right boxes, getting everything in the right order, getting those forms filed. And then your tax strategist. The tax strategist job is to bring you strategies that you have never heard of, that you like, that you can implement to reduce your taxes before you hand over your documents to your tax preparer, to your tax cpa.