INTEGRATED FINANCIAL, INSURANCE, TAX AND TECHNOLOGY STRATEGIES
The 2018 tax season is here and the new tax law is in effect. Our staff includes enrolled agents, authorized to represent clients before the IRS. Contact us to prepare your 2018 or previous year’s tax returns. Do you owe money to the IRS? Don’t fall for scams that promise you to get away with it. We are responsible tax professionals and will represent you with integrity!
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Why integrated financial, insurance, taxes and technology?
Because today financial landscape is extremely complex. There are thousands of different investments to choose from, dozens of insurance policies to select and a very complicated tax code. Computer technology helps manage your financial needs in an effective and efficient way. Just as large investment banks and insurance companies use sophisticated computational models to manage their money we use technology to manage the basic, yet complex, financial needs of individuals and families.
iFIT2 is an independent financial and technology firm founded to address the needs of busy people. You can focus on running your business while we use our resources and expertise to help you organize your personal finances, retirement plan, insurance policies, income tax returns and estate plan.
At iFIT2 we are hired by you, the client. Our only contract is with you and we work to serve your needs and interests. We identify the most appropriate financial instruments, tools, and strategies to satisfy your needs at the lowest possible cost to you while maintaining your desired exposure to risk. We are sensitive to your unique needs and goals and specialize in teaching our clients the proposed financial strategies in simple terms.
Have five or more employees? iFIT2 has developed effective education programs to help your employees understand the basics of finance and develop tax minimization and wealth accumulation strategies. We also provide you with assistance in the design of your employee benefits plan.
Are you ready to file your tax return? Do you have questions about the new tax law (aka Tax Cuts and Jobs Act)? We are here to help you. With over 15 years of tax experience and being authorized to represent you before the IRS we are your best option to file your 2018 tax return. We can also file previous tax years if you missed any tax filings.
Have you received a letter form the IRS and need to know what it means? Give us a call. We will explain it to you and guide you on how to respond. Do you owe money to the IRS? Don’t fall for scams that promise you not to pay anything. The only scenario when you don’t have to pay anything to the IRS is if you owe nothing. We can responsibly help you negotiate a payment plan with the IRS. We will meet you face-to-face in our Stamford office.
Once we get to know you well, your principles, philosophy and priorities as well as your individual needs and those of your family we can help you trace the path to accomplish your personal goals. Whether it is to provide the best education for your children, move to your dream house, start a new business, or leave a legacy to your family or favorite nonprofit organization, we will work with you to create the plan that will help you meet those objectives.
With our expertise and experience, combined with the most sophisticated technology, we create life plans that are understandable and easy to follow. Once the plan has been developed we help you implement it and provide ongoing support to make sure your goals are achieved.
We are all exposed to risks that need to be managed. The first step in managing risk is trying to avoid it. However, in today's complex world, 100% avoidance is impractical if not impossible. With insurance many of the risks we are exposed to can be managed, minimized and mitigated.
The typical risk we are exposed to include disability, premature death, hospitalization, propperty loss, lawsuits, the need for long term care. At iFIT2 we help our clients identify the best types of insurance policies to address each of these risks. We don't work for insurance companies, we work for our clients. We help you find the most appropriate and suitable policies regardless of what insurance company offers them. In addition, we teach you the benefits of insurance nd let you make the decision as to what risks to manage with the purchase of insurance and on which ones to self insure.
Estate planning involves a lot more than minimizing your estate tax. Whether you have a large or small estate you need to prepare documents such as a will, a living will, and a health power of attorney. In many circumstances you may want to create a trust and transfer some of your assets to that trust. There are many different types of trusts, so which one(s) should you establish?
After a long analysis and after getting to know you well and understand your needs and preferences we help you create all these documents and trusts. If necessary we will work with your attorney or help you find a qualified attorney to help you prepare and update your estate documents.
Wealth Creation, Tax Minimization, Money Management, Financial Education
MONEY MANAGEMENT SOFTWARE INSTALLATION
Do you have a centralized money management system? At iFIT2 we help our clients use technology to manage their finances. With money management software our clients have instant access to their financial accounts. All transactions are reported immediately and in a single place they can see all their accounts with their balances and transaction history. Accounts include checking, savings, investment, mortgage, credit card, life insurance, and retirement accounts.
We provide the client with the most appropriate software product according to the client’s unique needs. We don’t use proprietary software or sell the software. We go to the market and find the most appropriate program just as we find the most appropriate investment products for our clients.
Money management software offers graphical representation of income and expense allocation, and investment allocation on a real time basis. It provides alerts of payments due and it can help automate payments. In summary, it puts you in control of your finances
PARTNERSHIP RETIREMENT PLAN
Limited partnerships and limited liability companies qualify for special qualified retirement plans. The partners and owners of an LLC can benefit from SIMPLE, profit sharing, money purchase, defined benefit plans and 401(k) plans. Depending on the size of the firm, its income and the number of employees one plan may be more beneficial than the others.
At iFIT2 we understand the benefits and limitations of each plan and can recommend the most appropriate plan for our clients. Furthermore, we can help the firm implement non-qualified plans that are exempt of the limitations of ERISA (The Employee Retirement Income Security Act). These programs include deferred compensation plans, executive bonus plans, group carve-out plans and Split-dollar life insurance plans.
These plans can be used to compensate key executives or employees to improve their retention.
PARTNERSHIP INCOME TAX RETURN
With our enrolled agents and network of affiliate CPAs we prepare tax returns for limited partnerships and corporations. Many of our clients own a business or are limited or general partners in a limited partnership. This requires special skill and knowledge for the preparation of their tax return. Good coordination between the partnership and the partners allows for income tax minimization.
Understanding the needs of the limited partners, the general partner and the business we can help our clients allocate their income in the most efficient way, while maintaining compliance with all federal and state laws.
Employee training on management of retirement plans
Financial Literacy Education
Reviews of wills & trusts
Defined Benefit Plans
Tax, Financial Planning, andAccounting Education
Money Management Software
At iFIT2 we work for and in the interest of the client. We are an independent firm that generates revenues from services to clients. We don't receive commissions from financial institutions or insurance companies. We are 100% funded by client fees which enables us to put the client interest always first.