All tax professionals need to know the tax-economics of investing for themselves and their clients. The tax professional is in a special position to detect a client's need for financial planning. Preparing returns discloses assets, savings, business entities, and family members. This course explores and analyzes the basic concepts of cash management, budgeting, savings, investment goals and asset selection using a variety of tools found on the Internet. The rapid rise of the Internet as a broad-based and effective investment tool accentuates the practitioner's need for Internet familiarity.
Delivery Method: Online Self Study
Advanced Preparation: None
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Author: Danny Santucci
Field of Study: NA
Passing Score: 70%
Publication Date: 01/15/2016
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1. Identify investment goals and purposes noting their differences by:
a. Specifying the impact of inflation and taxes (versus tax free) on an investment's rate of return,
b. Determining methods of cash management and budgeting noting the role of savings in wealth creation, and
c. Recognizing corporate and self-employed retirement plans stating their cost, operation, and application to client needs.
2. Specify the key financial planning elements in the acquisition and management of investments and identify the forms of physical and financial assets noting their investment characteristics; and
3. Recognize active and passive investment strategies specifying situations where they might meet client financial objectives.
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