Archive - August 2016

1
Starting College – Credit Card Tips For You
2
Tax-Efficient Benefits of Exchange Traded Funds (ETF)
3
Why you should get to know your insurance agent!
4
If your hobby makes money, read this
5
Pregnant Men and Tattooed Aristocrats

Starting College – Credit Card Tips For You

Parents hope for a better life for their kids and it starts with helping after high school. Along with newfound independence come new experiences and unknown responsibilities. One of the most important talks that should be had before young adults venture out on their own is how to manage money and especially how to handle […]Read More

Tax-Efficient Benefits of Exchange Traded Funds (ETF)

Exchange Traded Funds (ETFs) have been around for a while now and come in all different shapes and sizes. While many investors choose them for their diversification, low cost and intra-day trading flexibility, I believe the biggest single advantage of ETF’s may be tax-efficiency.

The largest tax benefits come from well-diversified index-like ETFs. Similar to index mutual funds, many ETFs have low turnover and as a result don’t typically pass capital gains distributions on to shareholders. If you have ever held a mutual fund that was at a loss for the year but then paid a big distribution that you …

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Why you should get to know your insurance agent!

When was the last time you met with your Property & Casualty Insurance agent? Here’s why you should get to know them.

For many of us, our insurance agent is a name on an insurance card, the person we would call if we were ever involved in an accident or if we had a claim to file. The reason we need to get to know our agent is so that they can get to know us and therefore ensure that we are insured appropriately.

I recently spent about an hour in my insurance agent’s office to complete a thorough review …

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If your hobby makes money, read this

Lots of us have a hobby – whether it’s collecting stamps, raising honeybees, restoring old Jeeps, or mounting a wild-cat – and sometimes these hobbies can produce income. If you have a hobby that makes money, you may need to claim this money as income, net of your expenses, on your tax return.

Recently the IRS published their Summertime Tax Tip with Five Tax Tips about Hobbies that Earn Income, providing useful information about income-producing hobbies. The text of the Tip is below:

Five Tax Tips about Hobbies that Earn Income

Millions of people enjoy hobbies. Hobbies can also …

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Pregnant Men and Tattooed Aristocrats

When you read the title to this article your mind immediately processed the words as unfamiliar and not particularly logical. After all, how many pregnant men do you see and how many tattooed aristocrats do you run into? The title was actually taken from the book, Thinking, Fast and Slow by Daniel Kahneman. I’m currently in the middle of my third time through the book and it seems like each time I read it I gain valuable insight as to how our minds work and how we perceive things.

Most notably, these words stuck with me as a way to …

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