Last year has been very complicated wrt taxes and investments and I am going to need taxes done and advice given by professionals of some type. Next year is going to be worse, I think.
Is there one professional that can:
complete Federal and two State returns for 2007, and look at the possibilities for current and future investments to lower my tax burden in future years and
maximize my return on current and future investments.
Previously, I have done all of my taxes via TurboTax, and invested to my former company’s 401K and this has not been terribly complicated, but thinking about what will need to be done now scares me a bit, and I’ve never really used tax or financial advisers before.
It seems to me that there is quite a bit of crossover between the two needs - is there one type of financial/tax professional that can fulfill both requirements or must I consult two?
Is this something that a CPA would do?*
Some CPAs also act as financial advisors and recommend investments. Others should be able to recommend independent financial advisors who can place you in investments.
You may want to consider a CPA that only does taxes and tax planning, who will be able to give you an independent review of financial advisors. It is useful to have a professional to review investments as most financial advisors may have conflicting interests between selecting the investments that are best for your situation and those that will earn them the highest commissions or other incentives.