If you’re in healthcare or academia and you already have a CPA, it’s easy to assume your tax and financial picture is fully covered. It isn’t, and this episode explains exactly where the line falls. Amy Walls breaks down the real difference between tax preparation and tax planning, why accounts spread across multiple hospital systems or universities, 403(b)s, 457(b)s, and pensions, need someone coordinating them across institutions, and where CPAs and financial planners have to work together instead of separately.

You’ll learn

• Why tax preparation and tax planning are different services, and why a financial planner’s tax projections are not the same as official CPA tax planning
• Why a 457(b)’s early-access advantage matters when you’re coordinating multiple retirement accounts
• What can go wrong with a Roth conversion when a prior IRA rollover wasn’t done as a clean, direct transfer
• Why a pension lump-sum versus monthly-income decision is a planning question, not just a tax question
• Why the real question isn’t whether your CPA offers tax planning, it’s whether they’re willing to work with your financial planner as a team

(00:00:00) - Intro

(00:00:22) - Do I need a financial advisor if I have a CPA?

(00:00:59) - Backward looking vs forward planning

(00:02:37) - Tax preparation vs tax planning

(00:06:05) - Multiple retirement accounts in healthcare

(00:08:10) - Where coordination breaks down

(00:08:19) - Roth conversion coordination example

(00:10:21) - Pension lump sum vs monthly income decisions

(00:12:40) - Making advisor and CPA work together

(00:14:06) - The key question to ask your CPA

(00:15:18) - Wrap up and contact info

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/