Archive - April 16, 2013

1
What You Need To Know About The Alternative Minimum Tax (AMT)
2
Just Ask “Do You Have A License?”
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Women Have Different Financial Needs From Men

What You Need To Know About The Alternative Minimum Tax (AMT)

When you have high taxable income and certain deductions and exclusions from income, you may be subject to the Alternative Minimum Tax, or AMT.  This is a nearly flat-tax, which excludes a higher amount of income from the regular income tax.  For 2012 taxes, the exclusion of income is $50,600 for singles, and $78,750 for married couples.  The “nearly flat” tax rate starts at 26% and the upper end rate is 28%.

Under the AMT, no deduction is allowed for the standard deduction, or for personal exemptions.  State and local taxes are also not allowed to be deducted from your …

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Just Ask “Do You Have A License?”

After a recent presentation to AARP for their Ready for Retirement series, an attendee asked how to find a quality financial advisor. This is a great question that is unfortunately difficult to answer. Why? Because certain parts of the financial community have spent a lot of money lobbying Congress to keep it that way.

If you frequent this blog, you know that I believe:

  1. Your financial advisor should be fee-only; no other compensation structure is acceptable. This eliminates a lot of the conflicts of interest that exist in the world of financial product sales.
  2. Your financial advisor should always
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Women Have Different Financial Needs From Men

“Men are from Mars, Women are from Venus” is alive and well in the financial world. Data continue to underscore differences between the sexes when it comes to financial matters. While both men and women face a retirement funding crisis in this country, I will dwell on specific planning issues that affect women differently from men.

Women save less for retirement:

Women earn less than men and have less saved for retirement. Some studies indicate women in the US earn 5% less for the same job and 23% less – on average – since they hold lower paying jobs. Further, …

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