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July 6, 2025
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Financial Planning in New Milford NY
70+ Years of Guiding Our Clients Towards a Brighter Future
Smart Financial Planning for a Prosperous Future
Financial planning is the cornerstone of building and maintaining wealth in today’s complex economic landscape. It involves a comprehensive analysis of your current financial situation, future goals, and the strategic steps needed to achieve them. In New Milford, individuals and businesses alike benefit from expert financial guidance that tailors strategies to their unique needs.
DeFreitas & Minsky LLP CPA Firm, though not physically located in New Milford, extends its trusted financial planning services to the community with a commitment to clarity, precision, and personalized service. Their expertise ensures clients are well-equipped to navigate tax laws, investment opportunities, and estate considerations effectively.
Why Financial Planning Matters
Effective financial planning offers numerous benefits, including tax efficiency, wealth accumulation, and risk management. It empowers clients to make informed decisions, prepare for unexpected life events, and secure their financial future. With the right plan, you can optimize your resources to meet both short-term needs and long-term aspirations.
About DeFreitas & Minsky LLP CPA Firm
With over three decades of experience servicing New York clients, DeFreitas & Minsky LLP brings a wealth of knowledge in financial planning, tax preparation, and wealth management. Their team of certified public accountants and financial experts is dedicated to delivering customized solutions that align with clients’ unique financial goals and challenges.
Getting to Know Financial Planning
Financial planning encompasses evaluating your income, expenses, investments, and liabilities to create a roadmap for achieving financial stability and growth. It involves proactive strategies that consider tax implications, retirement funding, and estate planning to ensure all aspects of your financial life are coordinated.
By working with a qualified CPA firm like DeFreitas & Minsky, clients receive comprehensive advice that integrates accounting expertise with strategic financial insights. This holistic approach helps in identifying opportunities and mitigating risks within the financial plan.
What Is Financial Planning?
Financial planning is a disciplined process of setting, planning, achieving, and reviewing your life goals through the proper management of your financial resources. It includes budgeting, investing, insurance planning, tax planning, retirement planning, and estate planning.
Core Components of Effective Financial Planning
Key elements include assessing your current financial status, defining clear objectives, developing strategies to achieve those goals, implementing the financial plan, and regularly reviewing and updating it to reflect changes in circumstances or goals.
Financial Planning Glossary
Understanding the terminology used in financial planning can empower you to make better decisions and communicate effectively with your financial advisor.
Tax Efficiency
Strategies aimed at minimizing tax liabilities legally to maximize the amount of income or wealth retained.
Estate Planning
The process of arranging the management and disposal of a person’s estate during their life and after death to preserve wealth for heirs and beneficiaries.
Risk Management
Identifying and implementing strategies to mitigate financial risks through insurance, diversification, and other financial tools.
Wealth Accumulation
The process of increasing assets and net worth through saving, investing, and other financial strategies.
Choosing the Right Financial Planning Approach
Financial planning options can range from limited consultations focusing on specific issues to comprehensive, ongoing financial management services. Understanding which approach suits your needs can influence your financial success.
When Limited Financial Planning Works:
Simple Financial Situations
If your financial situation is straightforward with few assets or liabilities, a targeted consultation or plan addressing specific concerns may be all you need.
Specific Tax or Investment Questions
Sometimes, you may only require advice on specific tax strategies or investment options without the need for a full financial plan.
Benefits of a Comprehensive Financial Plan:
Complex Financial Goals
If you have multiple financial objectives including retirement, estate planning, tax optimization, and investment management, a full-service approach ensures all elements work harmoniously.
Long-Term Wealth Preservation
Comprehensive planning helps protect your wealth against unforeseen risks and market changes while aligning with your life’s evolving priorities.
Why Choose Comprehensive Financial Planning?
A comprehensive approach addresses every facet of your financial life, ensuring no opportunity is overlooked and no risk is unmanaged. It creates a synergy between various financial components that fosters greater overall security and growth.
This method also offers peace of mind knowing that your financial plan adapts to life changes and market conditions, keeping your goals on track with professional oversight.
Holistic Strategy
By integrating tax planning, investment management, and estate considerations, you benefit from a unified strategy that maximizes your financial potential.
Tailored Advice
Personalized financial plans reflect your unique circumstances, goals, and values, ensuring that strategies are relevant and effective.
Practice Areas
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Financial Planning Pro Tips
Start Early and Review Often
The sooner you begin financial planning, the more time your investments have to grow. Regularly revisiting your plan ensures it adapts to life changes and market conditions.
Leverage Tax-Advantaged Accounts
Maximize contributions to retirement accounts and other tax-advantaged vehicles to reduce taxable income and grow your wealth efficiently.
Work with Trusted Professionals
Engage with experienced CPAs and financial planners who understand your local market and financial landscape to tailor strategies that fit your goals.
Why You Should Invest in Financial Planning
Financial planning is essential for managing uncertainties and making the most of your resources. It helps clarify priorities, reduce financial stress, and create actionable steps toward your aspirations.
Partnering with a reputable CPA firm like DeFreitas & Minsky ensures you benefit from expert guidance, compliance with tax laws, and sophisticated strategies that keep your finances optimized.
When Financial Planning Is Especially Important
Certain life events and financial situations make professional financial planning critical. These include starting a business, preparing for retirement, managing inherited wealth, or navigating complex tax scenarios.
Starting or Expanding a Business
Entrepreneurs benefit from financial planning to manage cash flow, tax obligations, and growth strategies effectively.
Planning for Retirement
Retirement planning ensures you have sufficient resources to maintain your lifestyle and cover healthcare and other expenses in later years.
Estate and Legacy Planning
Proper estate planning protects your assets, minimizes taxes for heirs, and ensures your wishes are honored.
Your Financial Planning Partner in New Milford
While DeFreitas & Minsky LLP is based in New York, their expertise extends to clients in New Milford, offering tailored financial planning solutions that address the unique needs of the local community.
Why Choose DeFreitas & Minsky for Financial Planning
Our firm combines decades of accounting and financial expertise to deliver comprehensive planning tailored to your goals. We prioritize understanding your individual needs and crafting strategies that align with your vision.
We stay current with ever-changing tax laws and market trends to ensure our advice is both compliant and optimized for your benefit. Our proactive communication keeps you informed and empowered.
Our client testimonials reflect our commitment to accuracy, personalized service, and long-term partnerships, making us a trusted choice for financial planning in New Milford and beyond.
Schedule Your Free Consultation Today
How We Approach Financial Planning
Our process begins with a thorough assessment of your current financial situation, followed by goal setting and strategy development. We then implement your customized plan and conduct regular reviews to adapt as needed.
Step 1: Comprehensive Financial Assessment
We gather detailed information about your income, expenses, assets, liabilities, and financial objectives to create a clear picture of your financial standing.
Data Collection
This includes financial statements, tax returns, investment portfolios, insurance policies, and any relevant legal documents.
Initial Consultation
We discuss your goals, concerns, and expectations to ensure alignment and establish priorities.
Step 2: Strategy Development
Based on the assessment, we craft a tailored financial plan that addresses your objectives, risk tolerance, and time horizon.
Tax Planning
We identify opportunities to reduce tax liabilities through credits, deductions, and strategic timing.
Investment and Estate Planning
We advise on asset allocation, retirement savings, and estate strategies to protect and grow your wealth.
Step 3: Implementation and Ongoing Review
We assist in putting your plan into action and provide continuous monitoring to adjust for changes in your life or the market.
Execution Support
Guidance on account setup, document preparation, and coordination with other advisors as needed.
Periodic Reviews
Regular meetings to assess progress, update goals, and refine strategies to keep your plan effective.
Frequently Asked Questions About Financial Planning
What is included in a financial planning service?
Financial planning services typically include a comprehensive review of your income, expenses, investments, insurance, taxes, retirement, and estate considerations. The goal is to develop a cohesive strategy that aligns with your financial goals and risk tolerance. This service is tailored to your unique situation and may involve budgeting, tax planning, investment advisory, and risk management.By addressing all aspects of your financial life, financial planning helps ensure you are prepared for both short-term needs and long-term objectives, providing clarity and confidence in your financial decisions.
How often should I update my financial plan?
It’s recommended to review and update your financial plan at least annually, or whenever you experience significant life changes such as marriage, the birth of a child, career changes, or major financial events. Regular updates help keep your plan relevant and effective.Market fluctuations, tax law changes, and evolving personal goals also necessitate periodic reviews to adjust strategies and ensure your financial plan continues to work toward your desired outcomes.
Can financial planning help reduce my taxes?
Yes, effective financial planning incorporates tax strategies designed to minimize your tax burden legally. This includes utilizing tax-advantaged accounts, timing income and expenses, and taking advantage of deductions and credits.By integrating tax planning with investment and retirement strategies, you can enhance your overall financial efficiency and increase the amount of wealth you retain over time.
Do I need a CPA for financial planning?
While not always mandatory, working with a CPA for financial planning offers significant advantages. CPAs bring deep expertise in tax laws and accounting principles that can enhance the quality and effectiveness of your financial plan.Their knowledge ensures compliance with tax regulations and helps identify opportunities that might otherwise be overlooked, making them valuable partners in comprehensive financial planning.
How does estate planning fit into financial planning?
Estate planning is a crucial component of financial planning that focuses on managing your assets during your lifetime and distributing them after your death according to your wishes. It helps minimize taxes and legal complications for your heirs.Incorporating estate planning ensures your legacy is protected and that your financial goals extend beyond your lifetime, providing peace of mind and security for your loved ones.
What makes DeFreitas & Minsky different from other firms?
DeFreitas & Minsky LLP stands out through its extensive experience, personalized approach, and commitment to staying current with financial regulations. Our team works closely with clients to understand their unique needs and tailor strategies accordingly.We combine accounting precision with strategic financial planning, ensuring comprehensive support that adapts to evolving circumstances, which has earned us longstanding client relationships and trust.
Is financial planning only for wealthy individuals?
Financial planning is beneficial for individuals across all income levels and life stages. Whether you are just starting your career, managing a growing family, or preparing for retirement, a well-crafted financial plan helps you make informed decisions.Tailored planning ensures your resources are aligned with your goals regardless of wealth, providing financial clarity and direction to improve your financial health and security.
How do you protect my personal financial information?
We prioritize client confidentiality and employ robust security measures to protect your financial information. This includes secure communication channels, data encryption, and strict access controls within our firm.Our commitment to privacy ensures that your sensitive information is safeguarded at every stage of the financial planning process, giving you confidence and peace of mind.
What should I prepare before meeting with a financial planner?
Before meeting with a financial planner, gather relevant financial documents such as recent tax returns, bank and investment statements, insurance policies, and details about debts and assets. Also, consider your short-term and long-term financial goals.Having this information ready allows the planner to conduct a thorough assessment and provide more accurate and tailored advice during your consultation.
Can financial planning assist with business finances?
Absolutely. Financial planning can greatly benefit business owners by optimizing cash flow, managing tax obligations, planning for succession, and protecting business assets. Integrating personal and business finances provides a clearer picture of your overall financial health.DeFreitas & Minsky LLP offers specialized financial planning services for businesses in New Milford, helping entrepreneurs and corporations maximize profitability and plan for sustainable growth.
Testimonial
WHAT OUR CLIENTS ARE SAYING!
DeFreitas & Minsky maintains high standards, produces detailed information and gets involved with our company so they can understand the operation on a more personal level. The information they provide is always accurate and current. We have been with them for more than 30 years!
4 years agoThis is my second year filing my taxes with DeFreitas & Minsky. I was referred by a friend. Honestly, It’s a blessing sent. Everyone there is professional and knowledgeable about tax codes. They even keep me abreast via email whenever there’s a new tax law and what it entails. I feel safe and sound when doing business with them.
True professionals and attentive to all of my needs. Manny, Melissa, and Michael are all super helpful. They took the time to help me with my taxes, financial planning, and estate tax needs. I highly recommend them.
We’ve been working with Manny for the last 10 years. Whenever we have a question he’s there and if he’s in a meeting during Tax Season (it happens), Jay is always there. Thank you Gentlemen.