OUR

SERVICES

ESTATE PLANNING

 

 

Estate planning is a process that involves you, your family, other individuals and any charitable organizations you may want as a beneficiary. This process also can take into consideration your assess and the various forms of ownership and title that these assess may take. It can address your future needs in case you ever become unable to care for yourself. Please consider how important estate planning can be if you haven't already done so. It is important to designate someone to manage your assets and make health care and personal care decisions for you if you ever become unable to do so for yourself. We can assist you with any questions you may have regarding this process.

MUTUAL FUNDS / INVESTING

 

 

If you are interested in investments with more growth potential than traditional saving accounts, mutual funds may be a good option.

A mutual fund is a pool of money that is professionally managed for the benefit for all shareholders. as an investor in a mutual fund ,you own a portion of the fun sharing and any increases or decreases in the value of the fund. A mutual fund may focus on stocks, bonds, cash or a combination of these asset classes. You can purchase shares in mutual funds a few different ways, depending on the rules of the particular fund. Funds are often described as either being no-load or load funds.

We recommend no-load mutual funds which allow your money to work for you. Mutual funds offer a number of advantages including diversification, professional management and liquidity.

If investing in mutual funds is something you many be interested in, we offer services to advise you through the entire process.

INCOME TAXES

 

 

Don't want the headache of having to deal with the taxman? Leave your worries with us, as we'll make sure you get the most out of your refund. Filling returns can be a time-consuming task. Why not dedicate more time to the things you love to do and let us deal with your taxes?

RETIREMENT PLANNING

 

 

A Simple IRA plan is best suited for companies with 100 employees or fewer, and for employers who want to share the cost of retirement. They were established for a business to meet specific requirements of individuals with self-employed income earned on either a full or part time basis. Under this plan, employees may choose whether to contribute part of there salary to the SIMPLE plan rather than receiving these amounts as part of their regular compensation.

The Traditional IRA is a personal retirement savings plan that offers a great way to build your retirement nest egg while enjoying tax benefits. The advantage of a Traditional IRA is that you don't pay federal income taxes on the earnings and deductible contributions of your IRA. These Taxes will be imposed once you begin taking withdrawals, usually after you retire.

A Roth IRA may be a more flexible instrument if you can do without the tax break now. This is because it allows you to withdraw your contributions at any time, penalty an tax-free.

Retirement Planning is a complex process. We offer support that will guide you through this process.

EDUCATION FUNDING

 

 

Planning for college as soon as possible can hep save for the escalating tuition fees that are associated with higher  education. College expenses are expected to increase at a rate of 7 to 8 percent per year. Regardless, whether college is several years away or right around the corner, the sooner you begin to save, the greater potential you have to maximize your investments. We have several options available to assist you and your family in making the most informed decision possible.

HEALTH SAVINGS ACCOUNTS

 

 

Health Savings Accounts (HSA) were developed to offer individuals a tax-advantage way to accumulate savings for medical expenses. Any individual who is covered by an HSA qualified high-deductible health plan may establish an HSA. Amounts contributed to an HSA belong to individuals and are completely portable. Every year the money not spent would stay in the account and gain interest tax-free.

Funds distributed from the HSA are not taxed if they are used to pay qualifying medical expenses. These include deductibles and coinsurance as well as many other expenses not covered under some medial plans such as: dental, vision, medication, transportation, etc.

We can assist you in the proper steps required to open an account and begin saving today.

NEW BUSINESS STARTUPS

 

 

There are so many questions that must be answered when beginning a new business. Poor planning is one of the main reasons many firms fail in their first year of operation. We specialize in financial planning and continued support for new businesses. Please consider Carr Consulting P.A. and allow us to deal with the financial hassles of your new business.