Tax Harvesting Tips For Investors

All too often, investors (or their accountants and financial advisors) wait until the very end of the year to worry about the losses that can and should be taken for tax purposes. At the very least, a better way is to practice tax-loss harvesting (and be far more proactive in tax planning in general) throughout the year—not just as the annual clock ticks down.

By |2015-05-23T04:23:21+00:00June 18th, 2012|Taxes|

Estate Planning – Get Organized!

Not every situation requires the need for a full team and often just putting together a few parts can be enough to start the process. You should consider your personal situation and how it currently relates to your goals. When considering using advisors make certain they are necessary for your current plan.

By |2019-03-11T16:12:32+00:00June 12th, 2012|Estate Planning|

Annuities Explained

Annuities come in two varieties – Fixed and variable. A fixed annuity is somewhat like a CD, in that the insurance company issuing the annuity agrees to pay a fixed rate to the investor, while the investment, along with associated profit or loss, is also the company’s responsibility and right. The performance of the investment is not directly coupled to the returns the investor gets. The insurance company acts as a barrier between the index and the investor, minimizing the impact by siphoning off huge spikes in both profit and loss, while passing along stable returns to the investor.

By |2019-02-26T01:19:43+00:00June 12th, 2012|Annuities, Annuities 101|

Social Security 101

To be insured and to receive benefits a worker is required to “pay in” for a minimum of 40 quarters (10 years). The amount paid in will depend on the amount of taxable income the worker earns. Current laws require anyone earning up to $100,000 is taxed. Some restrictions apply when calculating the benefit such as to be covered a worker must have been covered by at least 6 quarters of the past 13 calendar quarters.

By |2015-05-23T04:55:26+00:00June 12th, 2012|Retirement Planning|

Required Minimum Distribution for Your IRA

Numerous investment options exist for an IRA and the decision of where those funds are invested depends entirely on the goals of the IRA owner. If the funds in an IRA are not specifically needed, then stocks, bonds or mutual funds can be an acceptable option. However, if the funds are important to the retirement planning of the IRA owner a better choice may be to allow an insurance company to hold the funds in an annuity account.

By |2015-05-23T04:56:31+00:00June 12th, 2012|Retirement Planning|

Tips To Lower the Property Taxes on Your Home

When you own a home you are liable for the property taxes assessed to your property. The taxes collected on your property pay your share of the cost of local schools, government, and a number of other local and other programs. The biggest mistake many homeowners make is overpaying these taxes You have rights and have the opportunity to only pay your fair share of the taxes assessed. You have options available to you to make sure the assessment on your home is fair.

By |2015-05-23T04:57:48+00:00June 12th, 2012|Retirement Planning|

Capital Gains Tax Strategies

Capital gains taxes will be owed any time you sell a highly appreciated asset, weather it’s a collector car, investment portfolio or real estate. In addition, you’ll have to pay capital gains taxes on the sale of your business. The last one really hurts. You work hard for decades, put in blood, sweat, and tears, and then owe the government around 25% of the profits on the sale.

By |2015-05-23T05:00:35+00:00June 7th, 2012|Taxes|

Common Tax Credits

Most personal tax credits are allowed to the full extent of your regular tax liability and alternative minimum tax. But, it is important to note that they do not create a refund if they exceed your tax liability. Nonrefundable credits include the child tax credit, dependent care credit, adoption credit, education credits, retirement savings credit, credit for the elderly and disabled, mortgage interest credit, and D.C. first-time homebuyer credit.

By |2015-05-23T05:01:57+00:00June 7th, 2012|Taxes|