As a new Tax Professional provide your financial recommendation and overview of the importance of planning financial goals and explain how a tax strategy aligns with the client's future goals. Be sure to consider the binding and persuasive authorities for tax laws while financial planning

Part I

1. Provide an overview of Tax Planning and the importance of planning financial goals.

2.Describe the process of planning a client's future financial goals.

3. What are the intake process and questions you will ask your clients for tax planning

4. How will you ensure that you have a strong understanding of your client's future financial goals?

5. What are your preparations before your client meeting

Part II

1. Provide an overview of Circular 230

2. Provide an Ethical Considerations Approach during tax planning and align it with an organization's future financial goals. Refer to Circular 230 for tax practitioner responsibility.

3. During Tax planning what are the ways you will consider to protect yourself from liability issues

Part III

1. Provide your financial recommendations, Tax Planning Strategies, and Tax Incentives that can offer your clients

2. Describe the effect of the current economic environment on the client's business.

Part IV

1. Discuss how toalign client goals with current tax laws.

2. Provide changes to the current tax law that affect tax planning

3. Impacts of current tax laws on clients' future goals of your client.

Answer rating: 100% (QA)

Part I Tax Planning is the process of organizing your financial affairs to minimize your overall tax liability It involves analyzing your financial situation making decisions about how to reduce taxes ... View the full answer