Financial Planning vs. Tax Planning: What Your Financial Advisor Isn't Telling You
Is your financial planner also handling your tax planning? Not necessarily.
In this episode of the Know Your Numbers podcast, Chris McCormack breaks down the difference between financial planning and tax planning, why both are important, and how they can work together to improve your overall financial strategy.
Chris explains how financial planners can help with investments, retirement accounts, savings, and long-term financial goals, while tax planners can focus on areas such as entity structure, deductions, income and expense timing, depreciation, and tax-saving strategies.
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The skinny
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