Checklist of Service

Tax planning
  
General discussion of deductions and income recognition
  
Answer questions about investment tax issues
  
Develop and/or analyze business balance sheet, income statement, cash flow statement, pro forma statements
  
Discuss and educate on employee stock options basics, ISOs, NSOs, planning strategies, etc.
  
Tax implications of various stock plans – Restricted, phantom, SARs, ESPP
  
Non-qualified deferred compensation programs
  
Income taxation of life insurance and annuity products
  
Investment cost basis research and reporting
   
Retirement planning
  
Retirement needs analysis
  
Retirement plans analysis and education
  
Savings planning to help clients meet their goal
  
Assist in the coordination of retirement plan service providers, product sponsors, or vendors as a liaison
  
RMD or 72t calculations and analysis
  
Social Security planning
   
   
investment management/asset allocation
  
Asset allocation analysis
  
Risk and reward (risk tolerance analysis)
  
Diversification analysis
  
Investment policy statement development
  
Management of investment portfolio
  
Re-balance investment portfolio, when appropriate
   
   
business planning
  
Cash flow analysis  
  
Retirement plan design
  
Succession planning
  
Cash management
  
Employee benefits planning  
  
Financing strategies
  
Business use of insurance analysis
  
Intra-family and other business transfer techniques
   
education planning
  
Discussion of qualified tuition/college saving plans
  
College costs and inflation analysis
  
Individual needs analysis
  
Development of funding strategies
  
Provide direction on ownership of assets
  
Financial aid application assistance-FAFSA
  
Gift tax limits and trust usage strategies for education funding
   
insurance needs planning
  
Insurance gap/needs analysis for life, disability, or long-term care
  
Health care, including Medicare, expense planning
  
Analysis and planning for estate liquidity
  
Planning for policy ownership issues and beneficiary designations
  
Asset allocation, diversification, and securities research for variable life and/or annuities (provided advisor is not rep/agent of record)
  
Education on types of insurance, i.e. term vs. permanent, nursing home vs. home care, indemnity vs. reimbursement

 

personal financial planning
  
Determining clients’ financial status by analyzing financial statements, special needs, investments, taxation, employee benefits etc.
  
Stock option planning
  
Advice in change of lifestyle or major life event (Marriage, divorce, children, job, education)
  
Major purchase goal analysis and funding options
  
Importance of saving (dollar cost average, compound interest)
  
Education on mortgage options and financing analysis
  
Provide financial guidance/planning for special circumstances including death, disability, job loss, monetary windfall, divorce, etc.
  
Creation of personal or business budget
  
Provide guidance and analysis on cash flow management, budgeting, and emergency fund planning
  
Explain various components of cash flow (income, taxes, expenses)
  
Savings strategies
  
Debt management strategies
  
Personal financing strategies
   
   
wealth transfer planning
  
Development of objectives
  
Multi-generational snapshot of existing strategies
  
Legal and tax strategies under consideration
  
Financial modeling of alternative strategies
  
Explanation of plans to owners
  
Action plan to implement changes
  
Introduction to Estate Planning Attorney