Jason Monroe Smith Scottsdale
Jason Smith - Life Insurance Policies

CPA, Jason Smith: Life Insurance Policies that Fit Your Needs

Life insurance is something that many people take for granted, not realizing its importance for their beneficiaries and peace of mind. There are several different types of life insurance. CPA, Jason Smith explains a few of the options.

 

Jason Monroe SmithJason explained, “Whole Life insurance requires one to pay premiums throughout their life. In order to grow the cash reserve substantially, the premiums are higher than the fixed death benefit cost. Along with Whole Life, there is also Limited-Payment Whole Life. Limited-Payment Whole Life is essentially the same as Whole Life but is paid over a certain period, rather than up until death. With higher premiums, it guarantees the reserve to remain in power once they are paid out.

 

“Term insurance has premiums that are specifically for the death benefit; however, if death doesn’t occur within the term, the benefit is null and void. Usually, individuals can renew this policy or convert it into a cash value insurance plan. 

 

“Universal Life, otherwise known as Flexible Premium Life’s premiums, are adjustable meaning that higher amounts can be paid if the owner deems fit, as well as smaller amounts if necessary.” Jason Smith continued, “The owner can also change the death benefit denomination at their discretion. There are also options for payout.”

 

Jason explained further, “Determining the right life insurance for your specific needs is essential. It’s best to work with a professional that has life insurance expertise to walk with you through the ins and outs of tax requirements and the best options that fit your needs.”

 

Jason Monroe Smith is a Certified Public Accountant with over 17 years of experience. He specializes in tax and financial planning. Having completed a Master of Business Administration degree and a Master of Science degree Jason Smith is a highly motivated professional that takes great pride in his tax preparation and unparalleled public accounting experience.

 

Jason Smith’s in-depth CPA work has provided relevant experience and enabled him to work as an independent contractor preparing taxes, providing public accounting services, and performing financial planning services.

Jason M. Smith - Charitable Remainder Trusts

Jason M. Smith, CPA Explains the Specifics of Charitable Remainder Trusts

Jason Monroe Smith ScottsdaleJason Monroe Smith has over 17 years of CPA and CFP expertise. With an extensive accounting, tax, and financial planning career history, he owned and operated a financial advising website with one of the most highly recognized investment advisors in the nation. Jason M. Smith’s investment performance as a CFP has earned him a lucrative reputation due to the high level of training he received and his ambition. Jason Smith details the ins and outs of Charitable Remainder Trusts.

“An irrevocable trust cannot be terminated, amended, or changed without the beneficiaries. All of the legal rights to the assets and trust ownership have been designated to the beneficiary by the grantor. With a Charitable Remainder Trust (CRT), this falls under the category of irrevocable. However, a charitable remainder trust allocates funds to the designated beneficiaries over a predetermined, specified period and then distributes the remainder of the trust to a preset charity or charities.” said Jason.

“A Charitable Remainder Trust is an excellent way to lower the tax burden when gifting funds. Because it is irrevocable, the grantor will not have the capability to change the trust details once put in place. These can be set up in multiple ways, for example, unitrusts will distribute a fixed annual balance based on the total amount, or they can be annuity based, which distributes a fixed yearly annuity amount, just to name a few.

“Additionally, the grantor can name themselves in the Charitable Remainder Trust and use it over a specified period of time as income. The maximum income stream time allotment is 20 years, and then the named charity will inherit the rest.” Jason continued, “The income stream cannot be more than 50% of the entire trust. Grantors can fund their trust with real estate, cash, specific stocks, and other assets. It’s an excellent option for asset diversification, alleviating initial tax burdens, and allocating certain assets without capital gains.”

“If you are interested in supporting charities, this is a great way to secure your opportunity to give back. If you have concerns about your limitations in changing your Charitable Remainder Trust, you can also pair it with other trusts to ensure more flexibility.”

Jason Monroe Smith specializes in tax and financial planning. Having completed a Master of Business Administration degree and a Master of Science degree Jason M. Smith is a highly motivated professional that takes great pride in his tax preparation and unparalleled public accounting experience.

Jason Smith - Tax Strategies for the Highly Compensated

Jason Smith, CPA details Tax Strategies for the Highly Compensated

Jason Monroe Smith is a Certified Public Accountant with over 17 years of experience.

He specializes in tax and financial planning. Having completed a Master of Business Administration degree and a Master of Science degree Jason Smith is a highly motivated professional that takes great pride in his tax preparation and unparalleled public accounting experience.

Jason Monroe Smith ScottsdaleWhen it comes to tax strategies, Jason Smith has some advice for the highly compensated.

“It’s essential to reduce risk by taking a well-directed approach to an individual’s overall compensation and deductions, estate planning, charitable gifts, as well as general planning strategies. Perusing deferred income, equity-based, and retirement plans are also critical components of comprehensive preparation and planning.”

Mr. Smith Continued, “Getting my clients, the lowest tax cost and burden are my top priority. They are confident with my recommended strategies because I lay out a clear, concise plan that we work through together.”

With his drive to succeed and to ensure client satisfaction, Jason M. Smith decided to take his CPA endeavors to new levels. As an inherent entrepreneur, Mr. Smith has become an independent, private accountant to better serve his client’s needs.

Jason Smith has developed a diversity of cross-functional skills, which enables him to relate well with clients and work independently. Mr. Smith shared, “I am an analytical thinker with an intrinsic accountant mindset; I’m able to communicate positively and professionally with people at all levels because I make it a priority to understand their specific needs and demands. In fact, before returning to school, I worked in insurance sales for about a year, and in spite of fierce competition, I quickly became recognized as a top sales representative. My ardent fervor for success leans to my need to make others satisfied and content by going steps above what they expect.”

Jason Smith explained further, “I learned the fundamentals of accounting, tax and financial planning throughout my education and career history. In addition, I owned and operated a financial advising website with one of the most highly recognized investment advisors in the nation. My investment performance as a CFP from 2007 to 2009 has been stellar thanks to the high level of training I have received.”

Jason Smith’s in-depth CPA work has provided relevant experience and enabled him to work as an independent contractor preparing taxes, providing public accounting services, and performing financial planning services.