Accountant Testimonials In Milford, OH | Kamphaus, Henning & Hood

Financial Planning

Start planning and stop worrying!

A Gallup poll showed that 60% of those surveyed worried about their financial future.

There are a few simple steps you can take to help reduce your worries:

Put aside a set amount regularly in savings or other investments.
Invest in what you know.
Diversify your investments.
Prepare an annual balance sheet
Plan where you want to be financially by retirement age.
Update your plan regularly.
Don't use credit to purchase consumption items.
Pay off your credit card balance every month.
Monitor your investments to maximize your after-tax return.

Have your insurance agent do at least an annual review of your insurance needs
For assistance in your financial planning, contact us.

Investment Review

Maximize your after-tax return. We can review your investment ideas with you and your investment advisor and make recommendations to maximize your after-tax return. Don't ignore the impact of taxes on your investments. While taxes should not drive your investment strategy, understanding how taxes affect your earnings will help you minimize taxes and maximize your return. Consider these items:

Long-term capital gains and dividends carry a favored tax status. Consider putting more dollars in investments that give you dividend income and long-term capital gains.
You can deduct a limited amount of capital losses in excess of capital gains. Consider balancing your winners and losers to maximize this deduction each year.
Investments which produce high taxable annual income can be given to family members who are in lower tax brackets, thereby saving taxes for the overall family group.
Depending on your tax bracket, you may benefit from investing in municipal bonds.
Another area where taxes make a difference is in deciding which investments to keep in your tax-deferred accounts, such as a regular IRA or 401(k) plan, and which to keep in taxable accounts.

For assistance with your investment concerns, contact us.