Leach Bradbury’s Integrated Approach Can Help You Achieve Your Financial Goals
And it starts with tax planning
Tax planning is about organizing your financial affairs so that you minimize the amount of taxes owed—while meeting all legal requirements—by making tax-efficient decisions. These include, for example, the timing of income and expenses, types of investments, insurance coverage, the use of charitable gifting strategies, the best way to set up a retirement plan, and estate and business succession planning.
Given how widely the benefits (or pitfalls) of tax planning can extend, it’s easy to see why you can lose everything because of poor tax planning. The fact is, tax laws and business decisions (such as how to structure your business, what kind of benefits and pension options to offer employees, whether to purchase or lease fixed assets, and how to finance the business) can affect your personal finances now and in the future.
But neither the conventional accountant nor the typical financial planner can give you the kind of comprehensive tax planning advice you need to build your wealth, provide maximum tax advantages, and protect both your family and your business.
The accountant’s tax prudence plus financial planning skills equals…
To give them their due, accountants have a unique knowledge about the details of their client’s business. And they are known for their conservatism, rules-based approach, and understanding of the law and the bottom line. They just don’t have the broad training necessary for cradle-to-grave financial planning.
And financial planners have the skills to help create a plan to manage your financial affairs to meet life goals. But they lack the in-depth training in accounting, tax planning, and business to handle your business finances.
But in that grey area between your accountant’s business planning and the financial planner’s personal planning lie opportunities that can be leveraged to save you time and money and help you achieve your goals more quickly.
You see, the crux of the problem has been that neither the accountant, who only looks at the business owner’s balance sheet, nor the financial planner, whose focus is on building personal wealth through investments, has a complete picture of your business and your personal and family wealth.
And yet your business and personal finances are firmly joined.
What’s therefore needed is a tax planner who can handle both business and personal financial matters. A tax plannerwho combines the best of what the accountant and the financial planner can offer to provide you with what’s known as integrated financial planning.
Integrated tax planning is the answer
A tax planner who adopts the integrated financial planning model looks at the big picture of your estate, financial, and business planning needs. He (or she) actively prepares for your future in the most tax-efficient and proactive way possible.
For example, the tax planner using the integrated financial planning approach will handle estate planning while considering inheritance tax and business exit strategies. If you’re planning to sell certain assets, property, or shares, the tax planner will give thought to the tax implications and help you plan how to reduce your taxes.
By looking at your total financial picture, and applying the same comprehensive analysis to your personal finances as to your business finances, the tax planner can make it easier for you and your family to reach your goals, from saving for your daughter’s university education to planning the transfer of your business.
Leach Bradbury’s tax planners combine the skills and expertise of the accountant and the financial planner
As accountants, we identify big picture opportunities and strategies that will help your business get—or stay—ahead. As financial advisers, we keep an eye on building wealth in the most effective manner while taking into account your life goals and needs. By looking at your complete financial picture, we work with you to develop a customized and fully integrated financial management strategy that addresses your short-term needs and long-term goals.
Founded on principles of quality, integrity and service, our unique and integrated approach will help you realize the vision established for your business and your life. By drawing on the right mix of services and expertise for each stage of corporate, family and personal growth, we create and implement a long-term adaptable strategy that will help you achieve your financial goals.
If you’d like to know more about what integrated tax planning can do for you and your business, see what others have said about our work.