SERVICES: ENROLLED AGENTS, LICENSED INSURANCE AGENTS
BUSINESS LOAN CONSULTANT, BOOKKEEPING & ACCOUNTING TECHNICIANS
Your Needs. If you need coverage only until your children graduate from college, for example, you might be better off with a term life policy.
Cash-value insurance is better suited for long term needs, such as planning estate taxes and providing lifetime security for your spouse. Some term policies cannot be renewed past age 70 or 80 and can become costly to renew as you approach that age.
Your Savings and Investment Goals. Whole life insurance can be a good long term investment vehicle, especially because the cash value has the potential to grow tax-deferred. Should you no longer need the insurance but want some extra cash, you may surrender the policy and collect the accumulated cash value. Be sure to discuss the tax consequences with your tax advisor first.
As an alternative, you could purchase term life insurance and invest what you save on premiums on your own. Compare the returns you can expect, and remember to take taxes into consideration if you plan to select taxable investments. A draw back to this is that many consumers have a problem saving unless it is compulsory, in which case the whole life policy will serve those individuals better. Its like over-paying your income tax from each paycheck, so that you can get back a large refund, which you would have problem saving voluntarily.
So, Should I Buy Term Life or Whole Life Insurance? Term life and whole life insurance both have advantages including immediate family protection. Deciding which type of policy and which features are right for you takes careful planning and, a comprehensible look at your financial goals. To discuss your life insurance needs and financial requirements, contact your financial professional. Make sure you GET A QUOTE HERE SO you can compare plans.
Bookkeeping & Accounting Services Partial List
Code expenses and post to General Ledger
- Code income items and post to General Ledger
- Reconcile Bank statement with general ledger bank account
- Reconcile credit card statement
- Reconcile other balance sheet accounts as necessary
- Prepare month-end adjustments, such as accruals, prepaids, depreciation etc.
- Prepare monthly profit and loss account
- Prepare monthly balance sheet and cash flow statements
- Prepare variance report if budgets are incorporated
- Sales tax processing is needed
- Meeting with owner to discuss operating results and suggest new approaches
- Budgets and cash flow projections
- Work with external auditors to expedite year-end audits
- Any other bookkeeping and accounting service you need
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