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Steven Lissner & Company | Certified Public Accountants

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Financial Life Events

Your Guide to Life Events in Finance

When you wake up in the morning, you don’t start your day with the expectation that you’re going to lose a loved one and suddenly receive an inheritance. As humans, we’re naturally wired to plan for the short term. But, life, of course, comes with long-term consequences if we completely ignore the future. Especially when it comes to our financial stability. 

So, what should you do? Should you divert your energies and attention to potential outcomes that may await you in the long term? Or, should you stay completely dialed into the present and simply keep chugging forward?

Unfortunately, life isn’t nearly so binary. One approach isn’t better than the other and much depends on pure chance—life’s fluke windfalls and hard-luck tribulations. However, it’s certainly possible to dedicate your resources to both long- and short-term financial goals. But, to do so successfully, you’re going to need a helping hand.

We can’t overstate the benefits of enlisting a professional CPA to help you delineate your financial goals and pursue them effectively. With Steven Lissner & Company, not only do you gain access to an expansive font of accounting knowledge but you also end up devoting less time and energy to managing your portfolio. Imagine, acquiring all of the financial gains with none of the headaches.

Why Hire a CPA?

You’re probably wondering, “Why would I need to hire a CPA?” Realistically, the answer to this question depends on a lot of factors, but you would be surprised to know just how many situations warrant professional guidance. Maybe you have a child on the way or just received a large wage increase at work. Or, perhaps, you’re getting married and relocating to another state or country. When people think of these situations, they don’t automatically think, “Oh, I need to hire an accountant for this.” When you break your leg, you see a doctor—it’s a no-brainer. Likewise, if your financial situation is ever-evolving—which is most likely the case—then you may want to hire a certified public accountant.


This guide can only cover so much ground, but below we have included a series of situations and circumstances that may warrant hiring a CPA:

11 Key Life Events in Finance

  1. Wanting to buy a vacation home. Summer rental homes can represent sentimental bliss; a great escape year after year. If the landlord offers you a sweet insider price, you can’t refuse. Decisions such as this are often made as emotions are high; yet, purchasing a vacation home – especially one that requires rental income to finance – is often a complicated long-term commitment. You may want to look to a financial planner rather than a real estate agent to help you better understand what to consider when making this decision.

  2. Receiving a big raise. Of course, the positive changes to your financial situation may require just as much professional attention as the bad ones. After all, you should treat your money the same way that you would treat a harvest. You may think you have a lot of yields now, but you want to cultivate what you do have so that you can watch it grow even more as the years fly by. There are a lot of ways to do this, and it can be easy to get lost in the minutiae. Why not consider hiring a professional accountant? Ultimately, it’s a small price to pay to secure future wealth and diversify your portfolio. It might be a good time to bump up your retirement savings, as well.

  3. Getting married. Combining your finances with another person’s can be daunting, to say the least. It changes how you approach your taxes significantly, and it can be easy to get lost fast. A lot of people don’t like to think about it, but prenups can be a valuable tool when it comes to protecting each partner’s savings while simultaneously avoiding any possible misunderstandings. They are especially important if either member of the couple is bringing financial responsibilities like children into the marriage. A financial advisor can help newlyweds work out the logistics of their finances in a way that works to the benefit of everyone. 

  4. Graduating. Recent graduates might not think they have enough money to talk to a financial planner. But they face key money choices as they start repaying their share of the over $1 trillion in national college debt with “starter” jobs. They likely could use help prioritizing credit card payments and student loans. Ready to get out of debt as fast as possible? A qualified CPA can help you devise a bulletproof plan for a bright financial future.

  5. Relocating. Moving to another state can be as different as moving to another country. Tax rates differ and the cost of living can shift dramatically. There’s also the cost of moving-related expenses to consider. Whether you need assistance with the financial aspects of buying/selling a home, updating your bank account and insurance providers, or reviewing important documents like wills and trusts, your CPA has all of your pressing financial needs covered. Especially the ones you’ve yet to consider.

  6. Receiving an inheritance. Receiving an inheritance can be bitter-sweet. Acquiring a lump sum of money after the death of a loved one can raise questions about spending habits, charitable contributions, tax payments, and a slew of other concerns. You might want to get help from a professional as you figure out how to handle the money.

  7. Expecting. When a baby arrives, life inevitably gets more complicated. It could be well worth it to add a financial planning meeting to the long list of preparations as you await your new baby. You might want to open a 529 account, for example, to start paying for college, as well as take out additional life insurance policies.

  8. Getting a job. The acquisition of a new job is a great time to check in with a financial planner. Parents, consider paying a one-time fee to a planner as a gift to your child (and to yourself, since it makes your child more independent). Even though your children are now adults, it is not uncommon for them to need – and even want – guidance during this key life transition. 

  9.  Being offered a generous severance package. Emotions often run high when your employer offers a big severance package. It’s important to understand the complex financial issues associated with severance packages. Most plans are immediately taxable, for example, and you want to make sure you understand all the fine print before you sign on the dotted line. A financial advisor will be your best ally in understanding what is right for you in this situation. 

  10. Retiring. Retirement is the pivotal financial moment in a person’s life. If you haven’t already worked with a financial planner to figure out your plans and budget, then now is the time. In fact, financial advisors urge even clients in their 20s and 30s to begin planning for retirement instead of waiting until later in life. Don’t get lost in the maze of 401k and Roth IRA jargon. A qualified CPA can help you untangle the web of retirement plans and identify which model works best for your unique situation.  
  11. Divorce. As with losing a loved one, your finances are probably going to be the last thing on your mind when it comes to breaking up with your significant other. However, divorces are extremely stressful life events that can completely destabilize your financial situation. With a divorce, almost anything can be disputed, such as the nature of your filing status or who should claim involved children as dependents. A certified public accountant can help you cut through these complicated aspects of divorce and ultimately save you major headaches in the long run. Here are a couple of ways that an accountant can assist you during a messy separation: 
  • An accountant can help locate any hidden holdings that may be of interest during the division of assets
  • Asset appraisal, including preparation of blueprints for the division of assets
  • Identification of all joint assets and liabilities
  • Child support calculation
  • Account setup for joint fund spending during the divorce
  • …and more.

Financial Planning Doesn’t Have to be Difficult…

Life is definitely full of its ups and downs but your finances don’t have to suffer as a result. With a qualified certified public account in your corner, you’ll be able to weather life’s storms and prosper from life’s windfalls. With over 30 years of expert accounting experience, Steven Lissner & Co. delivers the answer. Whether you need assistance with estate planning, income tax returns, or converting life’s lemons into lemonade, our CPAs will help you stabilize and declutter your finances.


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Hear From Our Clients!

Steven Lissner & Company LLC
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Steve and Cathy are wonderful to work with. They take the time to make tax season as pain-free as possible. They pay attention to details and ensure your filing is done with the utmost integrity.
Laura Romeu
Laura Romeu
I’ve been with Steve and his firm for 10 yrs now, they have always been extremely knowledgeable on any tax situations that I have had.
Paul Ferrone
Paul Ferrone
Great People here! Steve really knows his stuff. Always very professional, thorough and diligent, yet comfortably hospitable and friendly! Great looking Office Aquariums too!
Joshua Topp
Joshua Topp
I have been with this company for 25 years. The Best CPA Services Ever!!! Thank You Steve and The Team! Truly appreciated everyone for your excellent services. God Bless You All.
Joe Sutthasinwong
Joe Sutthasinwong
Steve is a trustworthy professional who I've relied on for over a decade, through cross-country moves and many life changes. He's always prepared our returns promptly and thoroughly, and has responded to any question I've had--whether in tax season or not--in short order. Highly recommended.
Ravind Grewal
Ravind Grewal
Steve has been working with our family as the CPA for years now. He’s extremely knowledgeable, trustworthy and flat out good at his job. As long as Steve is in business, I won’t go to anyone else. Highly recommend.
Pat Gonabe
Pat Gonabe
Steve has proven to be extremely helpful and professional throughout the years. Members of our family with varying financial needs continue to be well served by his firm. Steve and his staff are attentive and responsive to our needs, and we remain highly satisfied and confident in their services. We highly recommend him without reservation!
Benny Castillo
Benny Castillo
Steven has been doing our taxes for over 20 years. He is excellent and we are always very satisfied with the services and the fees. I have recommended him to family and friends, who are also very satisfied. He is an excellent account, extremely knowledgeable and very kind. As his business has grown we have dealt with his staff who are also excellent and very friendly. You won't find a better accounting service anywhere. I highly recommend him.
Lisa F
Lisa F
Steven Lissner & Company is a wonderful firm. I have been using them since 2017 and I've never even met them in person! They respect that I'm a busy working mom and they do everything they can to make sure I get a return, that I get it fast and that I don't have to go out of my way to work with them. They provide extremely professional and helpful service and their staff is kind and responsive. They have a team that's large enough and specialized enough to answer all my questions and help me when I need it. My favorite part is that, after years of struggling with a bad accounting firm that had me owing the IRS for years, Lissner helped me get organized so that I get a return every year since I've been working with them. I can't say enough good things about this firm - They have had such a helpful impact on my life!
Elizabeth Geary-Archer
Elizabeth Geary-Archer
Steven and his staff have been the easiest group to work with over the past three years I have been working with them. From the first email I receive at the start of tax season, until the last, they have kept me informed as to what is needed, any issues, and when the returns have been filed. I highly recommend Steve's firm for all your accounting needs.
Andrew Fischbach
Andrew Fischbach
I think Steve is terrific: He's professional, extremely knowledgeable and well informed about all matters with which he deals, and quick to respond to any questions that I have had. My husband feels likewise. Throughout the years, I have also found Steve to be very personable, cheery, and an all around lovely person. I'm very happy to have found him and his firm.
Tamara Colloff-Bennett
Tamara Colloff-Bennett
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Amazing accountant!! I was previously using an accountant who was doing wrong by me and Steven called it out for which I am extremely grateful. I'll be using him as my personal and business accountant from here on out.

Joseph Petra
Valued Client
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female avatar 1

Steven Lissner & Company is a rare find... They're extremely knowledgeable, friendly, and helpful!! I highly recommend Steven Lissner and his great team for anyone looking for fair and honest accounting services.

Faith Leuzarder
Valued Client
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Amazing accountant and a really experienced one! Gets things done in a timely manner and the communication is always clear and to the point. Great service either for personal or business taxes.

Bernardo marrufo
Valued Client
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female avatar 3

Steve was referred to us from a friend a few years ago. He has been amazing! He makes the process for both our personal and business so easy, and has given great advice that has saved us A LOT of money! I highly recommend them! Everyone I've sent to him says the same!

Amy Nicklaus
Valued Client
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Extremely knowledgeable and thorough, very fun to talk to too! We will be using Steve from this point going forward!

JR Fox
Valued Client
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333 Route 46 West Suite 206
Mountain Lakes, NJ 07046

(973) 917-4080

info@slnjcpa.com

Contact Us

Client Login

333 Route 46 West Suite 206
Mountain Lakes, NJ 07046

(973) 917-4080

info@slnjcpa.com

Contact Us

Client Login

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Essential Tax Prep Paperwork (973) 917-4080
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  • Home
  • About
  • Individuals
    • Services for Individuals
    • Tax Preparation & Planning
    • QuickBooks
    • Tax Strategies for Individuals
  • Businesses
    • Services for Businesses
    • Tax Preparation & Planning
    • QuickBooks
    • Tax Strategies for Business Owners
  • Services
  • Resources
    • Resources Overview
    • Business Strategies
    • Homeowners Insurance
    • Investment Strategies
    • Life Events
    • Tax Strategies for Business Owners
    • Tax Strategies for Individuals
  • Blog
  • Contact
  • Client Portal
Essential Tax Prep Paperwork (pdf)
(973) 917-4080