Frequently Asked Questions
- FAQWhat is financial planning?In essence, financial planning is evaluating an individual’s current income, expenses and assets in order to calculate a future financial situation.
- FAQWhat is a financial forecast?A financial forecast estimates the predicted future income, whereas a financial plan prepares the necessary steps required to generate future income.
- FAQAre financial planning fees tax deductible?You may be able to claim financial planning fees if they’re in relation to producing assessable income in the future.
- FAQWhat is financial planning for a business?Financial planning for a business is determining how it can afford to achieve its strategic goals.