We are experts in comprehensive cross-border financial planning and our services encompass nearly every aspect of your financial life for
U.S.
and Canadian residents. This includes experience in income taxation and personal financial planning in the
United States
and
Canada
. Through Keats, Connelly and Associates, LLC (KCA) we have access to an extensive range of certified specialists in tax, personal financial planning and investment management.
Our tax services include the preparation of all federal, state (provincial) and local tax returns for individuals, businesses, trusts and estates in the
U.S.
and
Canada.
If you have a tax dispute or are being audited, we can provide representation before Canada Revenue Agency (CRA), the Internal Revenue Service (IRS) and state authorities. We also provide monthly bookkeeping for our business clients. Note that we do not perform attest functions, e.g. prepare reviewed or audited financial statements.
Financial planning is the process of identifying and achieving personal financial goals. Financial planning is a dynamic process that requires regular monitoring and reevaluation. In general, it has five steps:
1. Assessment: One's personal financial situation can be assessed by developing simplified versions of statements of financial position and cash flow. A personal financial statement lists the values of personal assets (e.g., car, house, clothes, stocks, bank account), along with personal liabilities (e.g., credit card debt, bank loan, mortgage). A personal cash flow statement lists personal income and expenses.
2. Setting goals: Two examples are "retire at age 65 with a personal net worth of $500,000 and "buy a house in three years paying a monthly mortgage servicing cost that is no more than 25% of my gross income. It is not uncommon to have several goals, some short term and some long term. Setting financial goals helps direct financial planning.
3. Creating a plan: The financial plan details how to accomplish your goals. It could include, for example, reducing unnecessary expenses, increasing one's employment income, or investing in the stock market.
4. Execution: Execution of one's personal financial plan often requires discipline and perseverance. Many people obtain assistance from professionals such as accountants, financial planners, investment advisers, and lawyers.
5. Monitoring and reassessment: As time passes, one's personal financial plan must be monitored for possible adjustments or reassessments.
Through KCA, CBTA has access to professionals that have earned the highest designation in portfolio management, the Chartered Financial Analyst (CFA) and provide professional portfolio management for our clients. To learn more about the CFA designation go to http://www.cfainstitute.org.
What We Do