CPAs
A collaborative daily money management resource for CPAs and tax professionals serving older adults and their families.
For some clients, preparing a tax return is not the difficult part. The challenge is everything that has to happen before the documents reach their CPA.
Statements need to be located. Tax documents need to be gathered. Financial records need to stay organized throughout the year. Questions may need follow-up. And as clients age or experience major life transitions, managing these responsibilities can become increasingly difficult.
Day Sensible Solutions works alongside CPAs throughout Greater Boston to help clients maintain better financial organization and prepare the information their tax professionals need.
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When Getting the Information Becomes the Challenge
CPAs may be among the first professionals to notice that a longtime client's financial organization is changing.
A client who previously arrived prepared may begin missing documents. Records may be scattered or incomplete. An adult child may start helping gather information. A recently widowed client may be unfamiliar with records or accounts previously managed by a spouse.
You may encounter clients who:
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Helping Clients Stay Organized Throughout the Year
Tax document organization is easier when it does not begin a few weeks before a filing deadline.
Day Sensible Solutions can help clients maintain clearer financial records throughout the year so important information is easier to locate when tax season arrives.
That may include organizing statements and financial records, tracking incoming tax documents, maintaining account information, and gathering materials requested by the client's CPA.
For the client, this can reduce the confusion of trying to locate everything at once.
For the CPA, it can mean receiving more organized information from a client who previously struggled with the administrative side of tax preparation.
Supporting Tax Preparation Without Providing Tax Advice
The distinction between the CPA's role and daily money management is important.
Day Sensible Solutions does not prepare tax returns or provide tax advice.
Rose's role is to help clients organize and gather the financial information their CPA or tax professional needs.
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Helping Clients Gather Requested Information
A CPA can tell a client exactly what information is needed, but the client still has to locate and provide it.
For an older adult with records stored across paper files, email, online accounts, and different areas of the home, that can become a significant task.
Day Sensible Solutions can help clients create a more understandable system for their financial records and assist with gathering requested materials.
Supporting Clients After the Loss of a Spouse
The loss of a spouse can significantly change how household finances are managed.
One spouse may have been responsible for organizing tax documents, communicating with the CPA, maintaining records, paying bills, and keeping track of accounts.
The surviving spouse may suddenly be responsible for a system they did not create or previously need to understand in detail.
Helping Adult Children Who Have Stepped In
CPAs may also begin hearing more frequently from adult children as older clients need additional support.
A son or daughter may be trying to locate tax records, manage bills, organize accounts, communicate with advisors, and understand a parent's financial system, sometimes from another city or state.
That responsibility can quickly become substantial.
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Maintaining Clearer Financial Records
The value of good financial organization extends beyond tax season.
Regular account reconciliation and recordkeeping can help create a clearer picture of everyday financial activity.
It can also make it easier to identify discrepancies, missing information, duplicate payments, or transactions that deserve additional attention.
Working With the Client's Other Trusted Professionals
Older adults may have several professionals involved in different parts of their financial and personal lives.
A CPA may be working alongside a financial advisor, estate or elder law attorney, care manager, insurance professional, and family members.
Day Sensible Solutions can help with the everyday financial organization that connects these relationships.
Rose can assist with gathering requested records, keeping financial information organized, following up on administrative responsibilities, and helping the appropriate professionals receive the information they need.
Her role is not to duplicate the services of the professional team. It is to provide continuity around the financial details that need attention between those professional interactions.
A Trusted Referral Resource for CPAs
Referring a client for additional support can be especially important when you recognize that financial disorganization is becoming a recurring problem rather than a once-a-year inconvenience.
Rose Day brings more than 30 years of experience across healthcare, technology consulting, finance, aging services, and social work. She holds an undergraduate degree from the University of Pennsylvania and an MSW with a concentration in Gerontology from Boston University.
Her approach emphasizes discretion, organization, patience, and respect for each client's independence.
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Start a Professional Conversation
If you have a client who repeatedly struggles to gather financial records, has experienced a major life transition, or could benefit from ongoing financial organization, Day Sensible Solutions may be able to help.
Schedule a complimentary 20-minute consultation with Rose to discuss a client situation, learn more about daily money management, or explore how Day Sensible Solutions can complement the work of your practice.