THE BERNARDS-RIDGE CONNECTION PAGE 8 JUNE/JULY/AUGUST 2025 theconnectionsnj.com 80 years of professional service Fee-based Wealth Management Tax-efficient Investing Family Office Services Financial Planning Tailored Service, Disciplined Strategies, and Committed Guidance. Individual Tax Preparation Business Tax Preparation Accounting Estate and Trusts Accounting Services are provided by Shapiro Certified Public Accountants and not a service provided by Raymond James. Shapiro CPA's and Shapiro Financial Group is not a registered broker/dealer and is independent of Raymond James Financial Services. Complimentary Initial Consultation 30 Technology Dr., Warren, NJ 908-222-3770 info@shapirogrp.com The key to your financial success shapirogrp.com Sophisticated expertise for today and future generations. Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Shapiro Financial Group is not a registered broker/dealer and is independent of Raymond James Financial Services. ble property includes real estate, both residential (houses) and commercial. e character and tax basis of assets provide insight into future tax liability. Holdings should be separated between current holdings and retirement, along with pre- and post-tax. Retirement assets can be a mix of pre-tax and post-tax. Tax basis can be compared to the current market value to measure unrealized taxable gain or loss. A taxpayer’s basis is comprised of cost, inheritance, and/ or donor gi . Liabilities should be detailed along with the associated collateral. e most common liability is real estate mortgages. Liabilities would also include debt secured by investments, commercial and personal debt, and personal guarantee. Liabilities can be compared to various assets to determine leverage ratios. Analysis of net worth will include an overall allocation amongst assets and liabilities. We have found it useful to drill down and provide detailed sub-allocations. Asset allocation is viewed as a key determinant of potential investment returns. Of course, a nancial plan not only encompasses the current, but it is also a forward-looking roadmap. However, a net worth statement becomes a great starting point for a full nancial plan. As a boutique rm, we provide personalized service to our clients. Our practice is skilled in advanced planning techniques, uniquely equipped to manage the complex needs of successful individuals and closely held and family businesses. We believe that e cient tax management can add meaningful long-term returns. I personally have over four decades of experience helping clients across a wide range of - nancial issues. As a multi-disciplined professional, I enjoy providing timely, tailored guidance. If you are interested in achieving better nancial outcomes, please contact me directly. I would welcome the opportunity to help your family and business prosper. As a multi-disciplined professional, I enjoy providing timely, tailored guidance. If you are interested in achieving better nancial outcomes, please contact me directly. FINANCIAL By Robert Shapiro CPA, ABV – Owner Shapiro CPAs Summer - e Perfect Time for a Financial Checkup Looking forward to summer! Family milestones, beach days, backyard barbeques, and (hopefully) one putts. is is the perfect time for a nancial checkup. I am o en asked the best way to start or update one’s nancial health. Financial plans need a starting point. is comes in the form of a net worth statement- a point-in-time measurement detailing an individual’s assets, liabilities, and net worth. Much like a balance sheet for a business, a net worth statement will provide essential information about your family’s assets, allocation, leverage, and capital. ere are several facets to a well-constructed net worth statement. Successful individuals and business owners will bene t from professional assistance. A well-cra ed net worth statement needs to identify ownership. Assets and liabilities can be titled either individually, jointly with rights of survivorship, joint tenants in common, trust, partnership, or corporation. is is a critical detail and provides insights into rights, wealth transfer, estate planning, and taxation. Assets should be further divided by liquidity, nature, and tax basis. Liquidity is simply the ability to convert an asset to cash. Liquid investments include cash and publicly traded securities. Less liquid assets combine closely held or restricted stock along with tangible property. TangiFORUM
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