Financial Expert Explains Why You Should Hire A Good CPA & Not Part-time Help; Offers Tips

It's that time of year for part-time help at the local tax-preparation location, when drivers can see seasonal staff standing at busy intersections wearing costumes of the Statue of Liberty or Uncle Sam. But they're not the only ones who are hired part time, says professional advisor to Certified Public Accountants Gary Marriage, Jr.

"I sometimes ask people, 'Do you want a guy in a costume to handle your taxes?' Of course, the guy actually doing the paperwork probably won't be the guy standing near the traffic, but he's also not the person you want dealing with your bottom line," says Marriage, CEO of Nature Coast Financial Advisors (www.naturecoastfinancial.com).

"I know millionaires who go to these pop-up tax firms; they'd rather spend a few hundred dollars on their return than a grand or two with a skilled CPA. But this apparent savings comes at a cost, because a good accountant is likely to find many thousands of dollars in savings in a single tax return, and they are far less liable to make a mistake."

Marriage offers additional tips for consideration this tax season.

•  Have your records handy, and consider a long-term relationship. Not only is it advantageous to file taxes through a CPA, it's also smart to have all relevant records readily available at your disposal - no matter who is helping you with your return.

"Not only do I strongly advise you to use a reputable CPA that you can trust, I also think you should try to establish a long-term relationship with him or her," Marriage says. "Think of a financial professional as similar to a doctor or lawyer - the better they know you, the better off you'll be. High-net-worth individuals have the most incentive for professional financial services, even if they've made a hobby of saving money by doing things their own way."

•  High-income earners pay the vast majority of income taxes - don't volunteer more. Taxpayers with incomes exceeding $100,000 earn 60 percent of the country's income, yet contribute 95.2 percent of the income taxes, according to recent estimates from Congress'sJoint Committee on Taxation. Additionally, those earning more than $100,000 - a bit more than 20 percent of taxpayers - pay for 75.7 percent of total federal taxes, excluding the burden on corporate and investment taxes.

"There are many high-income earners who are passionate about their careers and love what they do; they care more about their work than their income," he says. "These tend to be the folks who need reminders that there are legal avenues available for protecting their hard-earned money."

•  High-net-worth individuals should consider CRAT. Many people, financial professionals with years of experience, do not know about Charitable Remainder Annuity Trusts, a form of financial protection that Marriage often teaches to CPAs. CRATs are a flexible and effective instrument used in financial and estate planning. A CRAT provides a significant tax shelter for any assets and property placed within it. That allows any assets in a charitable remainder annuity trust to increase in value without being taxed on the increase. A well-constructed CRAT can provide financial security for the annuitants.

"CRATs are surprisingly underutilized, but many CPAs I run into simply don't know about it," Marriage says. "It's worth asking your financial advisor about, and if your advisor is unfamiliar with the structure, encourage him or her to look into it."

About Gary Marriage

Gary Marriage Jr. is the founder and CEO of Nature Coast Financial Advisors (www.naturecoastfinancial.com), which educates retirees on how to protect their assets, increase their income and reduce their taxes. Marriage is a national speaker, delivering solutions for pre-retirees, business owners and seniors on the areas affecting their retirement and estates. He is an approved member of the National Ethics Bureau, and has been featured in "America's Top Hometown Financial Advisors 2011" and most recently selected to co-author a book with Steve Forbes titled, "SuccessOnomics: Power Principles." Marriage is also the founder of Operation Veteran Aid, an advocate for war-time veterans and their families.

Amana- The Secret Garden, The Old Creamery's first Theatre for Young Audiences show of 2015, opens April 4 and runs through April 18 on the Old Creamery's Main Stage, with shows on Saturdays at 1:00 pm with a special morning show on April 18 at 10:00 am.  

A golden key opens a secret ivy-covered door to a wondrous garden, for neglected orphan Mary. As she learns how to help the garden thrive, she blooms into a lovely young girl herself all while helping her ill cousin Collin to heal. Friendship and flowers all flourish in The Secret Garden!  

The cast includes Keegan Christopher, Katie Colletta, Jeff Haffner, Jackie McCall, Hannah Spina, and Jim Vogt. Sean McCall is the director. 

Tickets are $10 per person. Seating is limited so reservations are highly recommended. Sponsored by Scheels of Coralville. Media Sponsors are KHAK and KDAT. The Secret Garden is rated Theatre G. The Secret Garden has been adapted by April-Dawn Gladu and is based upon the book by Frances Hodgson Burnett.

Call the box office for tickets and information

319-622-6262 or visit us online at www.oldcreamery.com.

The Old Creamery Theatre is a not-for-profit professional theatre founded in 1971 in Garrison, Iowa. In 2015, the company is celebrating 44 years of bringing live, professional theatre to the people of Iowa and the Midwest

(WASHINGTON, D.C.)  - Iowa Lt. Governor Kim Reynolds today met with Environmental Protection Agency (EPA) Administrator Gina McCarthy and shared Iowa's efforts in implementing the science-based Nutrient Reduction Strategy and urged the EPA to maintain a strong and robust Renewable Fuel Standard (RFS). The meeting took place while the lt. governor attended National Lieutenant Governors Association meetings in Washington, D.C.  

The biennial budget proposed by Iowa Gov. Terry Branstad and Reynolds recommends $57 million for water quality efforts. After discussing Iowa's efforts with McCarthy, Reynolds said, "The Iowa Nutrient Reduction Strategy is an innovative, science-based collaborative effort to advance Iowa's quality water. There are no better stewards of the land than Iowa farmers, and with support from the state, industry and producers, we believe Iowa can be a model for the states in terms of improving water quality." 

Reynolds has been a vocal proponent of the RFS in her time in office. When the EPA proposed gutting the RFS last year, she attended events and helped organize the "Hearing in the Heartland" after the EPA declined to hold a public meeting on the matter in the Midwest - the region that would have been affected the most. 

"I was pleased to be able to share the successes of a robust Renewable Fuel Standard with Administrator McCarthy," said Reynolds. "We Iowans have seen first-hand that a strong Renewable Fuel Standard creates jobs, increases family incomes, reduces transportation emissions and our dependence on foreign oil, provides consumers more choices at the pump and opens new market opportunities for agricultural products."

A photo of the meeting between Reynolds and McCarthy can be found here.

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