When it comes to money matters, there are a wide variety of options to help you manage your financial affairs. Various institutions and businesses offer financial services, and each option is designed to protect and organize the account holder's fiscal life. To help you explore some of the available options, below is an overview of a few common types of financial services.
3 Common Kinds of Financial Services
An accountant helps clients make financial-related goals and ensures that all record keeping and documentation is both legally sound and in the client's best interests. For an individual client, an accountant typically handles bookkeeping tasks and serves as a sort of concierge for the client's finances. With a business client, an accountant will often prepare ledgers and statements, process payroll, budget, forecast, and oversee employee benefit, pension, and profit-sharing plans.
2. Tax Preparation
Anyone who has ever tried to complete a tax return knows that the world of tax preparation can be a confusing one, full of complex language, rules, and regulations. A tax professional understands this world inside and out, and they work with individual and business clients to prepare returns in ways that safeguard the client's interests and bottom line. They also complete tax planning, strategize how to minimize tax liability, and maximize the amount of money you keep in your pocket.
3. Estate & Trust Planning
Estate and trust planning involves an array of financial services intended to implement financial security for your heirs after you've passed away. Transferring ownership of property and paying death-related taxes are just two aspects of a deceased person's estate that can be complicated and costly. But by working with an estate and trust professional, you can take steps to make these processes move smoothly while decreasing costs and taxes for your beneficiaries.
The financial services experts at Cloyd & Associates, PSC, offer all of the above options and many more. They work with clients throughout the London and Corbin, KY, region and have been a trusted local financial resource for years. Call (606) 864-8110 to make an appointment, and visit their website to learn more about how they can help you manage your finances.