Chapter 7: Personal Financial Planning

In this section

• Retirement Vehicles & Tax-Deferred Growth (401(k), 403(b), 457 Plans)
  Understand 401(k), 403(b), and 457 plans' benefits, tax implications, statutory contribution limits, and catch-up provisions. Explore employer-sponsored plan differences, best practices, and real-world CPA exam scenarios.
• Educational Funding (529 Plans, Coverdell ESAs, Student Loan Interest)
  In-depth exploration of 529 Plans, Coverdell ESAs, and Student Loan Interest for comprehensive tax compliance and planning. Learn effective strategies, pitfalls, and best practices surrounding educational funding accounts and interest deductions.
• Insurance & Risk Management (Life, LTC, Disability)
  Explore how life, long-term care, and disability insurance protect against financial risks, including key tax treatments of policy premiums and payouts.
• Investment Allocation & Tax-Efficient Asset Placement
  Master tax-savvy tactics for allocating interest-bearing and growth-oriented assets among taxable, tax-deferred, and tax-exempt accounts to optimize your portfolio and meet CPA Exam requirements.