Your Manager Money
Tax and Consulting
Practical, professional support for every stage of your financial life.
Planning
Budgeting and Retirement Planning
- Organize finances and develop a plan to preserve assets as long as possible while meeting daily needs.
- Assist with retirement planning and financial planning.
- Provide budgeting, forecasting, and financial-plan support.
- Coordinate required minimum distributions (RMDs) with income and tax planning.
- Coordinate the moving parts of each client's financial plan.
- Develop strategies to help retirees minimize taxes and potential IRMAA surcharges.
Core service
Tax and Consulting
Smart Transition Strategies, LLC helps individuals, families, small business owners, executives, and family offices navigate financial transitions such as retirement, widowhood, divorce, a new child or grandchild, and a change of home. Nancy Goldfarb, CPA, CFP®, and tax strategist, helps clients understand how tax considerations connect
with retirement, investment management, insurance, charitable giving, estate planning, and other financial decisions.
The firm works with clients and their existing bankers, insurance specialists, brokers, attorneys, and charitable-planning professionals so the right information and questions reach the right people.
Services include:
- Support cash decisions and the organization of checking, savings, and credit-card accounts.
- Organize income and expenses, and discuss spending, budgets, and forecasts for immediate needs.
- Review spending priorities, expense-reduction options, debt-reduction strategies, and creditor-negotiation needs.
- Review insurance needs and organize the information required for discussions with the client and the client's insurance professionals.
- Advise on tax and withholding matters for household employees.
- Prepare tax returns.
- Discuss tax considerations connected with retirement, required minimum distributions, charitable giving, investment accounts, estate planning, and other financial choices.
- Assist with correspondence and billing-dispute resolution.
- Identify and research financial discrepancies and potential fraud or financial abuse.
- Coordinate with the client and the client’s professional team remotely, by phone, and, where appropriate, in person.
Working together
Professional Relationships and Coordination
We help coordinate with the professionals involved in your financial and personal affairs, including investment advisors, financial planners, accountants, bankers, estate and trust attorneys, geriatric care managers, and professional organizers. Referrals and coordination are tailored to your needs.
Tax
Tax Services and Financial Records
- Provide tax planning and tax return preparation.
- Organize personal and financial documents, assist with correspondence, and assemble records and reports for tax and insurance matters and submission to clients' attorneys.
- Track tax-deduction records, taxes paid, medical payments, benefit reimbursements, charitable donations and multiyear pledges, and asset cost basis.
- Research and help resolve record issues involving retirement accounts, pensions, Social Security benefits and payments, and eligibility for government programs.
- Provide guidance on household-employee payroll requirements, taxes, and withholding.
Aging with confidence
Longevity Planning and Support
- Coordinate planning with medical and geriatric care professionals, including transportation and companionship arrangements.
- Assist with home health aide selection and review home health care payment options.
- Help organize identification documents, insurance cards, and records needed for care arrangements.
Trusted role
Appointment as Executor and Health Care Proxy
- Serve as executor and support executors and small-estate administrators with financial organization.
- Serve as health care proxy and coordinate the financial and record-organization aspects of care planning.
- Help identify beneficiaries, collaborate with estate and trust attorneys, and gather and organize estate assets.
- Review income and asset information for estate planning with the client's professional team.
- Help identify unclaimed funds, assist clients with recovery, and support access to old safe-deposit boxes with appropriate authorization.
- Catalog artwork, antiques, and other valuables, and coordinate appraisals and sales of artwork, jewelry, and property.
Legacy
Charitable Giving and Bequest Documentation
- Coordinate charitable-giving planning with clients, financial advisors, estate attorneys, and charitable organizations.
- Help clients and estate attorneys complete a bequest-documentation checklist so the client's charitable wishes can be clearly recorded and fulfilled.
- Prepare statements of bequest provisions for charitable organizations after analyzing the tax impact and coordinating with the client's professional advisors.
- Help minimize tax liability, support legacy planning, and provide charitable organizations with the information needed to steward clients' future gifts.