Center For Financial Planning

Financial Planning Consultants, Accounting Services, Annuities & Retirement Insurance Plans

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Mon - Fri:	8:00 am - 5:00 pm

Center For Financial Planning

Tax Planning
Proactive tax planning not only means helping to reduce your current tax liability; it also involves striving to pay the least amount of tax over your lifetime, as well as for future generations inheriting wealth. Although we do not prepare tax returns, part of our comprehensive approach with clients includes analyzing their tax situation each year and coordinating with other experts and professionals to ensure the best long-term decisions are being made for you and your family.

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Email: Email Business
Payment method: debit, amex, cash, discover, master card, paypal, visa
Neighborhood: Southfield
Other Link: https://www.centerfinplan.com
Categories: Financial Planning Consultants, Accounting Services, Annuities & Retirement Insurance Plans, Bookkeeping, Financial Planners, Financial Services, Investment Advisory Service, Investment Management, Investments, Mutual Funds, Retirement Planning Services, Stock & Bond Brokers, Tax Return Preparation, Taxes-Consultants & Representatives

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Phone: (248) 948-7900

Address: 24800 Denso Dr Ste 300, Southfield, MI 48033

Website: https://www.centerfinplan.com

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Center For Financial Planning

Tax Planning
Proactive tax planning not only means helping to reduce your current tax liability; it also involves striving to pay the least amount of tax over your lifetime, as well as for future generations inheriting wealth. Although we do not prepare tax returns, part of our comprehensive approach with clients includes analyzing their tax situation each year and coordinating with other experts and professionals to ensure the best long-term decisions are being made for you and your family.
Charitable Giving
Case Study: Jack (age 73) and Lynn (age 71) are married and have a total net worth of roughly $3M. While working through their comprehensive financial plan, they’ve realized they need to make their estate plan a key focus this year to make sure their legacy goals, including charitable giving, are both clearly defined and in order.
Tax Services
Raymond James does not provide tax services. Please be sure to discuss tax matters with the appropriate professional.
Roth IRA
Reviewed Ben and Jessie’s legacy goals and determined that they would like to leave 50% of their remaining assets to their church and the other 50% to Ben’s nephew – this prompted a recommendation to name their church as the contingent beneficiary on their 401k accounts and Ben as contingent on their Roth IRAs for tax purposes, however, we agreed we would review these beneficiary designations annually to ensure they are still consistent with their wishes
Tax Deductions
Assisted George and Ellen in donating appreciated stock within their joint investment account to their church – this allowed them to receive a tax deduction for the gift as well as avoid any capital gains tax associated with the stock
Income Tax
Past performance doesn't guarantee future results. Investing involves risk regardless of the strategy selected. 401(k) plans are long-term retirement savings vehicles. Withdrawal of pre-tax contributions and/or earnings will be subject to ordinary income tax and, if taken prior to age 59 1/2, may be subject to a 10% federal tax penalty. You cannot invest directly in any index. The Dow Jones Industrial Average (DJIA), commonly known as “The Dow” is an index representing 30 stock of companies maintained and reviewed by the editors of the Wall Street Journal.
Capital Gains Taxes

Investment Management
Our team is extraordinarily proud of our nearly 99% client retention rate, which hopefully highlights our commitment to long-term relationships. While having initial conversations with you, we’ll want to discuss our philosophies and approach to both investment management and financial planning to ensure The Center is a quality long-term fit for you. Clients we work best with typically possess the following qualitative attributes...
Mutual Funds
Utilized mutual funds and exchange traded funds (ETFs) within Mike and Heather’s investment accounts to build a cost effective, diversified portfolio
Bonds
Wealth Management
⁵ Investment News “2024 Best Places to Work for Financial Advisors”. The Best Places to Work for Financial Advisers program is a national program managed by Best Companies Group. The survey and recognition program are dedicated to identifying and recognizing the best employers in the financial advice/wealth management industry. The final list is based on the following criteria: must be a registered investment adviser (RIA), affiliated with an independent broker-dealer (IBD), or a hybrid doing business through an RIA and must be in business for a minimum of one year and must have a minimum of 15 full-time/part-time employees. The assessment process is compiled in a two part process based on the findings of the employer benefits & policies questionnaire and the employee engagement & satisfaction survey. The results are analyzed and categorized according to 8 Core Focus Areas: Leadership and Planning, Corporate Culture and Communications, Role Satisfaction, Work Environment, Relationship with Supervisor, Training, Development and Resources, Pay and Benefits and Overall Engagement. Best Companies Group will survey up to 400 randomly selected employees in a company depending on company size. The two data sets are combined and analyzed to determine the rankings. A total of 75 employers won. The ranking is based on fiscal year 2023 and was released on 02/28/2024. The award is not representative of any one client's experience, is not an endorsement, and is not indicative of an advisor's future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award. Investment News and/or Best Companies Group is not affiliated with Raymond James.

Accounting Services
Payroll Services
Cash Flow Analysis

Financial Planning
73% of advisors lack a formal succession plan, even though more than one third of advisors are planning to exit the profession over the next 10 years according to a 2018 study by the Financial Planning Association and Janus Henderson Investors.
Retirement Planning
Renchik, who joined The Center team in 2006 and is a current partner, has more than 30 years of experience in the financial services industry. She specializes in Retirement Planning. Learn more
Annuities
08/23/2020 - Our Director of Investments Angela Palacios, CFP®, AIF® is featured among 17 top local wealth advisors. Palacios likes gold and gold-mine companies, high-yield municipal bonds, and fixed annuities. She dislikes U.S. large caps and commercial real estate. Her advice? In the current state of things, anticipate the possibility of greater inflation.
Long Term Care
Started the discussion surrounding long-term care insurance and determined that based on family history, it would make sense to purchase a policy that would cover approximately half the cost of a typical long-term care event to keep premiums reasonably priced
Asset Management
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,700 financial advisors. Total client assets are $1.24 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at raymondjames.com.
Gifting Strategies
College Funding
The options you have to fund college expenses are far more robust than years past and it’s important to have someone help you with everything that goes into college planning. Should clients need guidance if planning for college, below are some ways we can help...

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