Archive - 2010

1
A Summary of The New Tax Bill
2
How Tax Loss Harvesting Works
3
The Missing “Gap” In Your Auto Insurance
4
What The New Payroll Tax Proposal Means For Your Social Security
5
How To Use Tax Loss Harvesting To Minimize Your Taxes

A Summary of The New Tax Bill

Both the House and Senate have passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, and the bill is expected to pass into law soon. What goodies does it hold for taxpayers?

With so much uncertainty around how the tax bill would fare in Congress, I resisted blogging about resulting changes until now.  Since the President negotiated the bill, his intention to sign it is not in doubt.  As the name indicates, the bill covers more than taxes, but for now I’d like to focus on some of its key implications for taxpayers.

No Income Tax

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How Tax Loss Harvesting Works

Just as farmers work to bring in the bounty of the harvest every Fall, come 4th quarter investors can work to bring in a bounty of their own.  In the later case, they’re harvesting something much less appetizing than produce, though certainly no less valuable – tax losses!

When the financial markets are volatile like they’ve been the past couple of years, investments purchased at different times end up with very different unrealized tax situations.  This means you may have the opportunity to “harvest” or sell some of your investments and bank the tax losses to use on your …

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The Missing “Gap” In Your Auto Insurance

It seems that almost every other TV commercial during the holidays has a gesticulating car salesman telling why you need a new car. Of course, these dealers are trying to move stock by year end. “Hurry before the best deals of the year end,” is an often stated selling point. If you find yourself driving a new car, you may need to think about an auto gap policy for your new car. Gap policies are a useful policy addition that may save you money.

What is a Gap Policy?

A gap policy is a feature that can be added to …

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What The New Payroll Tax Proposal Means For Your Social Security

A claim too good to be true? If the recent tax compromise forged between President Obama and Congressional Republicans becomes law, payroll taxes would be lowered by 2.0% in 2011. According to the Joint Committee on Taxation, that would cost the federal government $111.7 billion. The White House claims this drop in tax revenue would have no impact on Social Security’s solvency.(source)(source)

In response, some legislators and analysts are raising their voices, worried that the proposed payroll tax holiday could be a harbinger of unpleasant things to come for America’s retirement program.

How could you pull

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How To Use Tax Loss Harvesting To Minimize Your Taxes

One of the ways we help clients maximize their investment returns is by remaining vigilant for tax-loss harvesting opportunities during market declines. Like a silver lining in cloudy conditions, tax-loss harvesting can save you a significant amount of your own silver when the tax bills come due. On the other hand, like any good tool, in the wrong hands it can cause harm instead of good. Let’s take a look.

An Advantageous Overview

First, what is tax-loss harvesting? It’s a technique for generating a legitimate capital loss on paper that you can use to offset current or future taxable capital …

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