Personal Finance #3–Financial Services & Bank Reconciliation
Learn about financial services, financial institutions, and how to create a personal bank reconciliation from a CPA
What you'll learn
- How to apply money management strategies
- How to apply tax management strategies
- Explain the difference between marginal tax rate and average tax rate and how to use the proper rate when planning
- Describe the difference between tax deductions and tax credits and how to use this information when doing tax planning
- List the different tax filing statuses and their impact on the tax calculation
- Explain the different tax preparation options and the pros and cons related to them
- List common financial services needed by individuals
- List financial institutions and the services they provide
- Describe what a bank reconciliation is
- Complete a personal bank reconciliation
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