As a CPA I help lots of individuals with tax preparation and filing. Many of them are interested in building assets through investing. From a tax perspective, investments are a solid way to increase longterm assets. I advise my clients to work with a financial advisor. It takes time and patience to build wealth. 

In my work with church audits, I sometimes have to report evidence of possible fraud – questionable charges, missing money, etc. It's a tough report to make since no one wants to accept that financial fraud takes place in a church. How can church leaders enact measures to prevent internal theft and fraud without making it seem that no one can be trusted?

 

When I talk with clients about financial planning I include the importance of a durable approach to retirement. My message? Whether you are starting your career or have been at it for a while, you should be taking advantage of the retirement plans that are available. 

In my work with nonprofit organizations, I see how critical their work is for the health of a community. I am also aware that many struggle with financial challenges. Successful nonprofits tend to have leaders that know how to maximize financial resources. They use concrete strategies to do so.

In my work with church leaders, I see clearly the challenges facing church boards. Tasked with guiding and keeping the mission-driven activities on course, board members can lose touch with the day-to-day financial operations. The board's responsibility for the ongoing monitoring of the church's fiscal matters is, however, a fiduciary one. To do so, it must receive regular and accurate financial information.

As I meet with clients throughout the year, I stress the importance of tax efficient planning strategies. I explain that tax efficiency is simply an attempt to minimize tax liability when given many different financial decisions. The tax code offers many ways to reduce your tax liabilities if you know how to use it. Your income can be converted into assets with smart tax planning. The real key to building wealth lies in creating assets.

I meet with a variety of small business owners and am always impressed by the passion these entrepreneurs have for their businesses. As the tax and finance guy, I know how crucial cash flow is to the success of every enterprise. I also know that cash flow issues are among the leading causes of business failure in the United States. A solid financial management strategy is needed.

The retirement account is a valuable asset. Every worker should start savings and asset building strategies as early as possible. A common question I hear from my clients is which type of retirement account is best. There are various types and your best one depends on your situation. The Roth IRA is one of the options. 

As a CPA I help many small business owners with tax planning and filing. That means I see the businesses that succeed as well as those who don't. My advice is that if you’re a small business owner, you need a business plan. To write a successful plan you must know everything about your company, your product or service, and the market competition. 

Pastors that I talk with tell me that the summer months can be hard on their church collections. Historically speaking, church attendance declines in the summer months as families go on vacation or merely stay away to avoid the heat. For churches that rely on the Sunday collection plate for most of their income, this can be a hard time.