A gift to charity may prove to be a great financial favor to you. Some charitable gifting methods offer you notable tax advantages. Here’s a brief look at some popular options. Charitable remainder trusts (CRTs). These trusts can be useful estate planning tools. People with highly appreciated assets ? such as stocks or real estate […]
There are 13 types of 1099 forms1, and you may have received one or more of them in the mail. Here’s a brief rundown of what they report. 1099-A. This form is a consequence of foreclosure or bank repossession of secured real property ? ‘acquisition or abandonment?, in IRS terms. Lenders send it to the […]
Economists seem to be unable to agree: America may or may not be in a recession. Important economic indicators show declining manufacturing, a constricting retail and service sector, and poor GDP, but not negative GDP. So is the sky falling? Is this the end of the world? We don’t think so. Whether we are in […]
Options, options, options ? There are many misconceptions about what must be done with a 401(k) when someone leaves a company. Some people think they have to cash out their 401(k) upon leaving a job. Others think they must ‘roll it over? into a new 401(k). Still others believe that they must leave the 401(k) […]
When should you start saving for retirement? When do you really need to get serious about planning your retirement transition? Well, it depends on many factors. But along the timeline of life, there are certain things you might consider doing at certain ages. Your retirement planning can begin early in life, and remember that today […]
Many economists define a recession as at least two consecutive quarters of decline in a country’s GDP, (Gross Domestic Product). So whether you call this market, a recession or a slump, diversification is proving to be important. Investments uncorrelated or indirectly correlated to the stock market ? such as CDs, Treasuries and annuities ? are […]
The stock market is unsettled? and perhaps its fluctuations are unsettling you. It’s a stressful time for the economy and Wall Street, and you may be concerned about your portfolio given what’s going on with oil prices, the real estate market, and rising unemployment figures. It may be a good time to review how your […]
What’s behind the jump in gold prices? This fall, gold topped $800 per ounce. We haven’t seen prices that high since 1980.1 You may remember the drivers behind the 1970s bull market in gold: inflation around 15%, worries that OPEC would hold the global economy hostage, and the removal of artificial price controls during the […]
Before the new year begins, let’s take a look at three notable tax law changes for 2008 involving IRAs. Higher IRA contribution limits. If you have a Roth IRA or Traditional IRA, you can contribute up to $5,000 to it during 2008. That’s up from a $4,000 limit for 2007. (If you will be 50 […]
It’s about that time of year. The end of the year is a good time to review your personal finances, and to refocus your wealth-building efforts. How much financial progress did you make? What are your financial, business or life priorities for 2008? Dust off your financial goals and take a good look at them. […]