Personal Solutions

K & K Financial and Tax Services

Personal Solutions

The staff of K & K Tax Financial and Tax Services is available to provide assistance with your personal financial needs. With strong backgrounds in various aspects of finance, we have the knowledge to help you and your loved ones, maintain independence while knowing that your specific financial needs are being met. We assist busy professionals and small business owners focus more on following their dreams and less on juggling bills and balancing checkbooks. In addition, our specialty services such as educational planning and retirement planning allow us to participate in the continued growth and development of the community that has supported us through the years.

We provide objective advice that assures your personal matters are being handled by professionals with the highest levels of technical expertise and without any conflict of interest. At the outset of the relationship and again at various milestones, we will conduct an extensive assessment of your complete financial situation. From this analysis and subsequent discussions, the team prepares recommendations designed to assist in managing your personal financial situation and improving financial performance.

“Money is a guarantee that we may have what we want in the future. Though we need nothing at the moment it insures the possibility of satisfying a new desire when it arises.” - Aristotle

Personal Solutions Services

K & K Financial and Tax Services
  • Estate Planning & Compliance
  • Retirement Planning
  • Education Planning
  • Budgeting
  • Home Purchase Planning
  • Auto Purchase Planning
  • Credit Health Planning
  • Tax Services

Ask Keryl Personal Solutions

The answer depends (like so many topics in personal finance), on your utilization. The answer entails more questions: How many miles do you drive per year? How often do you get a new car? If you hold onto a car for 7-10 years, buying is the way to go. If you rack up a lot of miles, leasing can be a financial disaster.
The answer is as individual as snowflakes. The amount of money you will need to retire depends on many factors, such as how long you expect to live, what it costs you to live, and what factors can impact your financial longevity. It’s a simple question with a very difficult and complex answer— the number of variables is huge. The best answer is: It depends. However, don’t interpret this answer as an excuse to put planning your future to the side. In fact, it actually makes planning and the ongoing monitoring of your progress that much more important—and the uncovering of previously unknown information that much more vital.
Life insurance is a risk management tool intended to replace your income or cover a liability in case of death. If you need to replace your lifetime of income, you should do a calculation of how much you would need to sustain that income over the lifetime (or need time) of your heirs. As for type, if you have a lifetime need then a permanent policy is the safest bet, but keep in mind it is the most expensive. If you need to cover a 10-30 year need, then level term insurance makes more sense.
An UTMA/UGMA is an account set up with you as the Custodian of an accumulation account for the benefit of a minor child. The child’s social security number is used to open the account and becomes the property of the child when majority is reached (in some states it is 18 and others 21). The Custodian’s responsibility is to safeguard the account or use the proceeds for the child’s benefit. The terms mean Uniform Gift to Minors Act or Uniform Transfers to Minors Act. The income produced by the account is taxed on the child’s return.