This document provides helpful tips for investors to understand their tax responsibilities regarding mutual fund investments. It explains that tax-deferred accounts like IRAs defer taxes until withdrawals, while regular taxable accounts require paying taxes on fund earnings each year. The document lists forms and documents investors will need come tax time, including year-end statements, Form 1099-DIV, and Form 1099-B, to determine taxes owed on distributions and capital gains or losses. It aims to simplify understanding tax rules and responsibilities for mutual fund investors.
While valuations typically ignore taxes, considering potential tax liabilities provides a more accurate assessment of portfolio value. Estimating future taxes is challenging due to uncertain rates and timing, but provides some benefits. Accounting for taxes may help clients better understand retirement budget needs and assess how much of different accounts can truly be spent. It also allows for more accurate comparisons of taxable versus tax-sheltered assets, and is important for valuations in divorce cases. However, tax estimates will always involve assumptions and be rough approximations due to unpredictable future changes.
The document summarizes key changes from the American Taxpayer Relief Act of 2012 and provides 13 financial planning strategies to consider in response. Some of the major tax changes include higher income tax rates for top earners, increased capital gains and dividend taxes, and new Medicare taxes. The strategies suggest reviewing one's portfolio to optimize its tax efficiency, taking advantage of tax-deferred growth options, and considering Roth conversions.
Investment Strategy Considerations in a Rising Tax Environment - Dec. 2011RobertWBaird
1) Taxes significantly reduce investment returns, so adjusting asset allocation models to account for taxes can lead to superior portfolios and greater wealth accumulation.
2) Investors should find their "tax equilibrium" - a balance between tax considerations and other factors in portfolio construction.
3) With rising income tax rates anticipated, investors need to reconsider the tax costs of their portfolios and possibly adjust allocations to more tax-efficient assets. Estate taxes also require consideration for high-net-worth families seeking to maximize wealth transfer.
Retirement Income: Which Accounts to Tap First?Forman Bay LLC
Many clients assume that when retirement rolls around, they should draw cash from their taxable accounts first. Generally, this is a good idea—
but not always.
Robert Feinholz: Retirement income which account to tap firstForman Bay LLC
Robert Feinholz: Retirement income which account to tap first.
Many clients assume that when retirement rolls around, they should draw cash from their taxable accounts first. Generally, this is a good idea— but not always.
While it is generally a good idea to draw from taxable accounts first during retirement, there are some exceptions. The optimal order to tap retirement accounts depends on factors like the client's tax situation, risk tolerance, investments, and income needs. For tax-deferred accounts like IRAs, taking required minimum distributions (RMDs) after age 70-1/2 can potentially increase taxes due to larger distributions pushing clients into higher tax brackets. In some cases it may be better to draw from tax-deferred accounts earlier to pay taxes at a lower rate. Roth IRAs are best left untouched as long as possible since RMDs are not required.
Retirement Income: Which Accounts to Tap First?Damon Roberts
Many clients assume that when retirement rolls around, they should draw
cash from their taxable accounts first. Generally, this is a good idea—
but not always.
While it is generally a good idea to draw retirement funds from taxable accounts first, there are some exceptions. Whether pre-tax or tax-free accounts should be tapped first depends on factors like the client's tax situation, risk tolerance, investments, and income needs. For example, if a client has significant stock gains in a taxable account, it may make more sense to draw from retirement accounts instead to avoid capital gains taxes. Additionally, Roth IRAs should be drawn from last since required minimum distributions do not apply. Planning which accounts to use requires considering the client's full financial picture.
While valuations typically ignore taxes, considering potential tax liabilities provides a more accurate assessment of portfolio value. Estimating future taxes is challenging due to uncertain rates and timing, but provides some benefits. Accounting for taxes may help clients better understand retirement budget needs and assess how much of different accounts can truly be spent. It also allows for more accurate comparisons of taxable versus tax-sheltered assets, and is important for valuations in divorce cases. However, tax estimates will always involve assumptions and be rough approximations due to unpredictable future changes.
The document summarizes key changes from the American Taxpayer Relief Act of 2012 and provides 13 financial planning strategies to consider in response. Some of the major tax changes include higher income tax rates for top earners, increased capital gains and dividend taxes, and new Medicare taxes. The strategies suggest reviewing one's portfolio to optimize its tax efficiency, taking advantage of tax-deferred growth options, and considering Roth conversions.
Investment Strategy Considerations in a Rising Tax Environment - Dec. 2011RobertWBaird
1) Taxes significantly reduce investment returns, so adjusting asset allocation models to account for taxes can lead to superior portfolios and greater wealth accumulation.
2) Investors should find their "tax equilibrium" - a balance between tax considerations and other factors in portfolio construction.
3) With rising income tax rates anticipated, investors need to reconsider the tax costs of their portfolios and possibly adjust allocations to more tax-efficient assets. Estate taxes also require consideration for high-net-worth families seeking to maximize wealth transfer.
Retirement Income: Which Accounts to Tap First?Forman Bay LLC
Many clients assume that when retirement rolls around, they should draw cash from their taxable accounts first. Generally, this is a good idea—
but not always.
Robert Feinholz: Retirement income which account to tap firstForman Bay LLC
Robert Feinholz: Retirement income which account to tap first.
Many clients assume that when retirement rolls around, they should draw cash from their taxable accounts first. Generally, this is a good idea— but not always.
While it is generally a good idea to draw from taxable accounts first during retirement, there are some exceptions. The optimal order to tap retirement accounts depends on factors like the client's tax situation, risk tolerance, investments, and income needs. For tax-deferred accounts like IRAs, taking required minimum distributions (RMDs) after age 70-1/2 can potentially increase taxes due to larger distributions pushing clients into higher tax brackets. In some cases it may be better to draw from tax-deferred accounts earlier to pay taxes at a lower rate. Roth IRAs are best left untouched as long as possible since RMDs are not required.
Retirement Income: Which Accounts to Tap First?Damon Roberts
Many clients assume that when retirement rolls around, they should draw
cash from their taxable accounts first. Generally, this is a good idea—
but not always.
While it is generally a good idea to draw retirement funds from taxable accounts first, there are some exceptions. Whether pre-tax or tax-free accounts should be tapped first depends on factors like the client's tax situation, risk tolerance, investments, and income needs. For example, if a client has significant stock gains in a taxable account, it may make more sense to draw from retirement accounts instead to avoid capital gains taxes. Additionally, Roth IRAs should be drawn from last since required minimum distributions do not apply. Planning which accounts to use requires considering the client's full financial picture.
Many clients assume that when retirement rolls around, they should draw
cash from their taxable accounts first. Generally, this is a good idea—
but not always.
This document provides an overview and summary of preserving retirement assets through IRA rollovers. It discusses the options available when changing jobs, including taking a lump sum distribution, leaving funds in the previous employer's plan, or rolling funds over to a new employer's plan or a traditional IRA. It notes that taking a lump sum distribution can result in taxes and penalties that reduce the available retirement funds. The document then provides examples showing how much more money could be available in retirement by rolling funds over instead of taking a lump sum. It discusses the details and benefits of direct and indirect IRA rollovers.
Deferred Tax,
By: Mahima Pahwa (IBS Gurgaon)
Differences between Accounting Income and Taxable Income
TYPES OF DEFERRED TAX
DEFERRED TAX LIABILITY
FINANCIAL STATEMENTS PRESENTATION
This document discusses retirement plan distribution options and how to invest distributions. It provides three main distribution alternatives: lump-sum distributions, rolling over to an IRA, or leaving the money in the plan. It notes tax and penalty consequences of each option and emphasizes the benefits of rolling over funds to an IRA to avoid taxes and continue tax-deferred growth. It also provides tips on selecting investments and discusses risks and rewards associated with different asset classes.
This document presents the 2-3-4 Financial Concept which provides a simplified approach to financial planning. It outlines two pyramids to establish goals, three buckets to categorize goals by time horizon, and four boxes to understand tax implications. The concepts can help with needs analysis, portfolio allocation, and choosing suitable products. Hypothetical examples illustrate how taxes impact returns in different investment vehicles during accumulation and distribution phases. The document notes it does not provide legal or tax advice.
The document discusses the Deferred Sales Trust (DST) as a strategy for property owners to defer capital gains taxes when selling appreciated assets like real estate. The DST allows the seller to transfer ownership of the property to a trust in exchange for a promissory note, deferred the capital gains tax until payments on the note are received. The trust then sells the property and uses the proceeds to invest and make scheduled payments to the seller over time based on terms in the promissory note. This allows the seller to defer capital gains tax for years while maintaining access to the value of the property through the installment payments. Key benefits of a DST include tax deferral, estate tax benefits, maintaining family wealth, and providing retirement income
Year-End Tax Planning and Financial Planning Ideas - Dec. 2011RobertWBaird
This document provides year-end tax and financial planning ideas for private wealth management clients. It discusses reviewing capital gains and losses to realize losses to offset gains, considering realizing gains to use up losses, and avoiding wash sales. It also recommends ensuring adequate tax withholdings and payments to avoid penalties, accelerating or deferring income and deductions as needed, and completing charitable donations by year-end to take the deduction. The tax rates for 2012 are expected to remain the same as 2011 but could change significantly after that.
Retaining Wealth in a Rising Tax Environmentbruce_gillen
Tax rates are expected to rise in 2011 as Bush-era tax cuts expire. This will negatively impact high-income taxpayers through higher income, capital gains, and dividend tax rates. The document discusses three strategies for improving tax efficiency despite rising rates: 1) minimizing short-term capital gains distributions through manager incentives and technology; 2) investing in dividend-paying stocks for qualified dividends taxed at a lower rate; and 3) municipal bonds which provide tax-exempt income but require credit research expertise. It emphasizes the benefits of tax-efficient strategies, especially for accumulation and distribution phases of investing.
This document provides instructions for Oregon's composite tax return (Form OC) that pass-through entities (PTEs) such as partnerships, S corporations, LLCs, and certain trusts use to file tax returns on behalf of their nonresident owners who elect to participate. Key details include:
- PTEs can file a composite return to report the income and pay the taxes of participating nonresident owners.
- Owners must decide each year if they want to join the composite filing. Doing so means they can't claim deductions/credits on their individual returns.
- The composite return is due by the same date as the majority of owners' individual returns. PTEs must make estimated tax payments quarter
The document provides information about electing S corporation status for Cane, Inc. It discusses:
- Cane, Inc. has been a C corporation with less than $100,000 annual income, but expects losses in the next few years due to imports
- Electing S corporation status could allow deducting anticipated losses and provide tax benefits
- Requirements for S corporation eligibility include being a domestic corporation with one class of stock and 100 or fewer shareholders
- Cane, Inc. could elect S status if it has identical voting and non-voting stock and shareholders consent before the deadline
This document summarizes key deductions for adjusted gross income (AGI) and itemized deductions on individual tax returns. It discusses deductions directly and indirectly related to business activities, as well as itemized deductions for medical expenses, taxes, interest, charitable contributions, and casualty/theft losses. It also covers the standard deduction and exemptions. The learning objectives are to identify AGI deductions, describe itemized deductions, and explain the standard deduction and exemptions in calculating taxable income.
This document summarizes key concepts around business income, deductions, and accounting methods for tax purposes. It describes the general requirements for deducting business expenses and identifies common deductions. It also explains the concept of accounting periods and describes the accounting methods (cash, accrual, hybrid) available to businesses for determining taxable income and expense deductions. Special business deductions are also identified and examples are provided to illustrate concepts like reasonable compensation, the 12-month rule for prepaid expenses, and accounting for advance payments under different methods.
2009 Estimated Income Tax Payments for Individualstaxman taxman
You are required to make estimated Illinois income tax payments if you expect your tax liability to exceed $500 after subtracting withholdings and credits. Payments are due April 15, June 15, September 15, and January 15, unless you file on a fiscal year basis. Failure to make timely estimated payments may result in late payment penalties.
The document provides a financial planning primer for US taxpayers living abroad. It highlights reporting and compliance requirements for US taxpayers under current legislation. It also outlines strategies for saving in a tax efficient manner for retirement. Key points include understanding FATCA global reporting rules, reporting annual income and worldwide assets, and exploring tax treaties and structures like International Pension Plans to maximize tax efficiency and flexibility. Overall the document aims to help US taxpayers living abroad understand their obligations while pursuing wealth accumulation and retirement planning goals.
San Francisco Bay Chapter Ten Tax Concepts Rentals Real Estatetaxhowto
This document summarizes a presentation by Gerald Pusateri on tax concepts related to rental real estate. It discusses 10 key concepts: 1) basis considerations; 2) depreciation; 3) capital gains and losses; 4) the "triangle of gain" involving appreciation, depreciation recapture, and capital gains; 5) repairs vs improvements; 6) limits on rental losses; 7) treatment of disallowed passive losses; 8) exclusion of gain on home converted to rental; 9) renting to relatives below fair market value; and 10) selling to relatives below fair market value. The presentation aims to educate rental property owners and tax clients on these important tax issues.
John Smith, a financial advisor, provides information about converting traditional IRAs to Roth IRAs. Key points include: everyone is now eligible to convert regardless of income; converted amounts can be reported over two years to reduce taxes; Roth IRAs offer tax-free growth and withdrawals in retirement. An example shows how converting $60,000 for a 28% taxpayer could provide tax-free growth over decades. Strategies discussed include converting small amounts over multiple years or using recharacterization if taxes are too high.
Retirement Investing - Multiply Your Retirementheather smith
Why let Wall Street destroy your retirement?Read this self-help, how-to guide on how you can multiply your retirement income account by using self directed investments. It also blow out these myths.
Myth Number 1: Perceived Hassles
Myth Number 1: Uncertainty
Myth Number 3: Security
Myth Number 4: Higher risk
A Mid-Year Financial Review:
More Time to Plan
Understanding Mutual Fund
Expense Ratios
How Much Life Insurance is
Enough?
I started a business that lost
money this year. Do I have
NOL?
Pragmatic Steps to Managing Money Early in Your CareerPeggy Groppo
GW & Wade provides comprehensive financial services including retirement planning, investment management, tax planning, estate planning, and more. Their expert counselors create custom plans for each client based on their unique needs and goals. Services include income tax planning, cash flow analysis, charitable gifting strategies, education planning, and executive team services. Counselors help clients manage their investments and assets to stay on track with their financial plans over time.
16 Reasons And It’s Not Just About the Taxesjackclone22
Have you heard about the remarkable savings vehicle that offers the appeal of market-linked interest credits without the worry of market-based losses? Your accountant certainly has, and he or she is beginning to weigh in on their many benefits, guarantees, and tax advantages, especially when compared to mutual fund accounts held alongside of your IRAs.For more information : http://www.seniorfr.com/
A special report that discusses what to do with your tax refund, specifically strategies to optimize the use of your income tax refund; saving for your future, improving your financial well-being, addressing risk management strategies, education savings, reducing non-deductible debt, RRSP or non-registered savings, contributing to a Tax-Free Savings Account (TFSA), building an emergency fund and receiving your tax fund earlier than expected.
As a result of RRSP contributions, interest expenses, tax shelter deductions or various other tax deductions and credits, your clients may be expecting, or have recently received, an income tax refund from the Canada Revenue Agency (CRA). If they have received a tax refund, it may be a good opportunity to determine if they can use some or all of it to improve their financial well-being. This special report will discuss some strategies that may help them use their income tax refund more wisely and assist them in meeting their financial goals.
The document discusses how retirement plans have shifted from traditional pensions provided by employers to individual retirement plans like 401(k)s that employees must manage themselves. It notes that many baby boomers have left jobs with scattered 401(k) accounts and that consolidating them into an IRA could be complicated with account fees and limited investment options. The document then introduces the Voya Select Advantage IRA, which aims to simplify retirement savings by providing a single account to consolidate various 401(k)s and IRAs with over 100 mutual fund choices and low fees.
Many clients assume that when retirement rolls around, they should draw
cash from their taxable accounts first. Generally, this is a good idea—
but not always.
This document provides an overview and summary of preserving retirement assets through IRA rollovers. It discusses the options available when changing jobs, including taking a lump sum distribution, leaving funds in the previous employer's plan, or rolling funds over to a new employer's plan or a traditional IRA. It notes that taking a lump sum distribution can result in taxes and penalties that reduce the available retirement funds. The document then provides examples showing how much more money could be available in retirement by rolling funds over instead of taking a lump sum. It discusses the details and benefits of direct and indirect IRA rollovers.
Deferred Tax,
By: Mahima Pahwa (IBS Gurgaon)
Differences between Accounting Income and Taxable Income
TYPES OF DEFERRED TAX
DEFERRED TAX LIABILITY
FINANCIAL STATEMENTS PRESENTATION
This document discusses retirement plan distribution options and how to invest distributions. It provides three main distribution alternatives: lump-sum distributions, rolling over to an IRA, or leaving the money in the plan. It notes tax and penalty consequences of each option and emphasizes the benefits of rolling over funds to an IRA to avoid taxes and continue tax-deferred growth. It also provides tips on selecting investments and discusses risks and rewards associated with different asset classes.
This document presents the 2-3-4 Financial Concept which provides a simplified approach to financial planning. It outlines two pyramids to establish goals, three buckets to categorize goals by time horizon, and four boxes to understand tax implications. The concepts can help with needs analysis, portfolio allocation, and choosing suitable products. Hypothetical examples illustrate how taxes impact returns in different investment vehicles during accumulation and distribution phases. The document notes it does not provide legal or tax advice.
The document discusses the Deferred Sales Trust (DST) as a strategy for property owners to defer capital gains taxes when selling appreciated assets like real estate. The DST allows the seller to transfer ownership of the property to a trust in exchange for a promissory note, deferred the capital gains tax until payments on the note are received. The trust then sells the property and uses the proceeds to invest and make scheduled payments to the seller over time based on terms in the promissory note. This allows the seller to defer capital gains tax for years while maintaining access to the value of the property through the installment payments. Key benefits of a DST include tax deferral, estate tax benefits, maintaining family wealth, and providing retirement income
Year-End Tax Planning and Financial Planning Ideas - Dec. 2011RobertWBaird
This document provides year-end tax and financial planning ideas for private wealth management clients. It discusses reviewing capital gains and losses to realize losses to offset gains, considering realizing gains to use up losses, and avoiding wash sales. It also recommends ensuring adequate tax withholdings and payments to avoid penalties, accelerating or deferring income and deductions as needed, and completing charitable donations by year-end to take the deduction. The tax rates for 2012 are expected to remain the same as 2011 but could change significantly after that.
Retaining Wealth in a Rising Tax Environmentbruce_gillen
Tax rates are expected to rise in 2011 as Bush-era tax cuts expire. This will negatively impact high-income taxpayers through higher income, capital gains, and dividend tax rates. The document discusses three strategies for improving tax efficiency despite rising rates: 1) minimizing short-term capital gains distributions through manager incentives and technology; 2) investing in dividend-paying stocks for qualified dividends taxed at a lower rate; and 3) municipal bonds which provide tax-exempt income but require credit research expertise. It emphasizes the benefits of tax-efficient strategies, especially for accumulation and distribution phases of investing.
This document provides instructions for Oregon's composite tax return (Form OC) that pass-through entities (PTEs) such as partnerships, S corporations, LLCs, and certain trusts use to file tax returns on behalf of their nonresident owners who elect to participate. Key details include:
- PTEs can file a composite return to report the income and pay the taxes of participating nonresident owners.
- Owners must decide each year if they want to join the composite filing. Doing so means they can't claim deductions/credits on their individual returns.
- The composite return is due by the same date as the majority of owners' individual returns. PTEs must make estimated tax payments quarter
The document provides information about electing S corporation status for Cane, Inc. It discusses:
- Cane, Inc. has been a C corporation with less than $100,000 annual income, but expects losses in the next few years due to imports
- Electing S corporation status could allow deducting anticipated losses and provide tax benefits
- Requirements for S corporation eligibility include being a domestic corporation with one class of stock and 100 or fewer shareholders
- Cane, Inc. could elect S status if it has identical voting and non-voting stock and shareholders consent before the deadline
This document summarizes key deductions for adjusted gross income (AGI) and itemized deductions on individual tax returns. It discusses deductions directly and indirectly related to business activities, as well as itemized deductions for medical expenses, taxes, interest, charitable contributions, and casualty/theft losses. It also covers the standard deduction and exemptions. The learning objectives are to identify AGI deductions, describe itemized deductions, and explain the standard deduction and exemptions in calculating taxable income.
This document summarizes key concepts around business income, deductions, and accounting methods for tax purposes. It describes the general requirements for deducting business expenses and identifies common deductions. It also explains the concept of accounting periods and describes the accounting methods (cash, accrual, hybrid) available to businesses for determining taxable income and expense deductions. Special business deductions are also identified and examples are provided to illustrate concepts like reasonable compensation, the 12-month rule for prepaid expenses, and accounting for advance payments under different methods.
2009 Estimated Income Tax Payments for Individualstaxman taxman
You are required to make estimated Illinois income tax payments if you expect your tax liability to exceed $500 after subtracting withholdings and credits. Payments are due April 15, June 15, September 15, and January 15, unless you file on a fiscal year basis. Failure to make timely estimated payments may result in late payment penalties.
The document provides a financial planning primer for US taxpayers living abroad. It highlights reporting and compliance requirements for US taxpayers under current legislation. It also outlines strategies for saving in a tax efficient manner for retirement. Key points include understanding FATCA global reporting rules, reporting annual income and worldwide assets, and exploring tax treaties and structures like International Pension Plans to maximize tax efficiency and flexibility. Overall the document aims to help US taxpayers living abroad understand their obligations while pursuing wealth accumulation and retirement planning goals.
San Francisco Bay Chapter Ten Tax Concepts Rentals Real Estatetaxhowto
This document summarizes a presentation by Gerald Pusateri on tax concepts related to rental real estate. It discusses 10 key concepts: 1) basis considerations; 2) depreciation; 3) capital gains and losses; 4) the "triangle of gain" involving appreciation, depreciation recapture, and capital gains; 5) repairs vs improvements; 6) limits on rental losses; 7) treatment of disallowed passive losses; 8) exclusion of gain on home converted to rental; 9) renting to relatives below fair market value; and 10) selling to relatives below fair market value. The presentation aims to educate rental property owners and tax clients on these important tax issues.
John Smith, a financial advisor, provides information about converting traditional IRAs to Roth IRAs. Key points include: everyone is now eligible to convert regardless of income; converted amounts can be reported over two years to reduce taxes; Roth IRAs offer tax-free growth and withdrawals in retirement. An example shows how converting $60,000 for a 28% taxpayer could provide tax-free growth over decades. Strategies discussed include converting small amounts over multiple years or using recharacterization if taxes are too high.
Retirement Investing - Multiply Your Retirementheather smith
Why let Wall Street destroy your retirement?Read this self-help, how-to guide on how you can multiply your retirement income account by using self directed investments. It also blow out these myths.
Myth Number 1: Perceived Hassles
Myth Number 1: Uncertainty
Myth Number 3: Security
Myth Number 4: Higher risk
A Mid-Year Financial Review:
More Time to Plan
Understanding Mutual Fund
Expense Ratios
How Much Life Insurance is
Enough?
I started a business that lost
money this year. Do I have
NOL?
Pragmatic Steps to Managing Money Early in Your CareerPeggy Groppo
GW & Wade provides comprehensive financial services including retirement planning, investment management, tax planning, estate planning, and more. Their expert counselors create custom plans for each client based on their unique needs and goals. Services include income tax planning, cash flow analysis, charitable gifting strategies, education planning, and executive team services. Counselors help clients manage their investments and assets to stay on track with their financial plans over time.
16 Reasons And It’s Not Just About the Taxesjackclone22
Have you heard about the remarkable savings vehicle that offers the appeal of market-linked interest credits without the worry of market-based losses? Your accountant certainly has, and he or she is beginning to weigh in on their many benefits, guarantees, and tax advantages, especially when compared to mutual fund accounts held alongside of your IRAs.For more information : http://www.seniorfr.com/
A special report that discusses what to do with your tax refund, specifically strategies to optimize the use of your income tax refund; saving for your future, improving your financial well-being, addressing risk management strategies, education savings, reducing non-deductible debt, RRSP or non-registered savings, contributing to a Tax-Free Savings Account (TFSA), building an emergency fund and receiving your tax fund earlier than expected.
As a result of RRSP contributions, interest expenses, tax shelter deductions or various other tax deductions and credits, your clients may be expecting, or have recently received, an income tax refund from the Canada Revenue Agency (CRA). If they have received a tax refund, it may be a good opportunity to determine if they can use some or all of it to improve their financial well-being. This special report will discuss some strategies that may help them use their income tax refund more wisely and assist them in meeting their financial goals.
The document discusses how retirement plans have shifted from traditional pensions provided by employers to individual retirement plans like 401(k)s that employees must manage themselves. It notes that many baby boomers have left jobs with scattered 401(k) accounts and that consolidating them into an IRA could be complicated with account fees and limited investment options. The document then introduces the Voya Select Advantage IRA, which aims to simplify retirement savings by providing a single account to consolidate various 401(k)s and IRAs with over 100 mutual fund choices and low fees.
The document discusses tax penalties for early withdrawals from retirement plans other than IRAs. It notes that a 10% additional tax is imposed on distributions made before age 59.5, with some exceptions. These include distributions due to disability, medical expenses, IRS levy, death, and other specific circumstances. The tax is reported on Form 1040 and Form 5329 if applicable. Certain distributions, such as rollovers, are not subject to the penalty.
John Stokes provides a mid-year financial review with tips for taxpayers. He recommends reviewing finances, identifying needs, planning taxes, reviewing retirement savings and insurance. For life insurance needs, he outlines the "family needs approach" to estimate expenses families would face if the primary earner passed away and how much coverage would be required. Gold and silver can be held in a self-directed IRA if purchased from a trustee who can take physical possession.
This document discusses the key differences between retirement accumulation and distribution strategies and the adjustments clients and advisors need to make when transitioning from accumulation to distribution. Some of the main shifts discussed include dollar cost averaging working in reverse under distribution, compounding also working in reverse, the sequence of returns mattering more, time becoming the enemy rather than an ally, and mistakes being more consequential. The document also covers strategies for generating retirement income, factors to consider when transitioning portfolios, and the need for closer ongoing management of distributed assets.
The document is Prism Capital Management's March 2014 investment newsletter. It contains three articles:
1) An overview of how rising interest rates may impact bond yields as the Federal Reserve tapers its bond purchasing program.
2) A list of five essential estate planning tasks everyone should complete, including updating beneficiary designations, designating guardians for minor children, drafting wills, powers of attorney, and naming an executor.
3) Tips for preparing taxes this year, including understanding qualified dividends, capital gains and losses, municipal bond income, and excluding interest from government securities.
Fed Policy, Inflation, and Interest Rate RiskDieter Drews
The document is Prism Capital Management's March 2014 investment newsletter. It contains three articles:
1) An overview of how rising interest rates may impact bond yields as the Federal Reserve tapers its bond purchasing program.
2) A list of five essential estate planning tasks everyone should complete, including updating beneficiary designations, designating legal guardians, drafting wills, powers of attorney, and naming an executor.
3) Tips for preparing taxes this year, including understanding qualified dividends, capital gains and losses, municipal bond income, and excluding interest from government securities.
Smart money september october_2103_issue_singles_perOliver Taylor
Financial adviser client newsletters
Client-facing personalised newsletters are an exceptional and proven vehicle for strengthening relationships with clients. There has never been a more important time, especially during this current economic climate, for professional financial advisers to consider the benefits of using a newsletter to communicate with their clients or professional connections.
Client retention and the loss of hard-earned clients
In these post-RDR times, one of the biggest concerns facing many professional financial advisers is client retention and the loss of hard-earned clients to another competitor. To ensure that this doesn't happen to your business, our advice is that you need to do everything possible to stay engaged with your clients and keep reminding them about why they chose you in the first place.
You don't have to waste your valuable time
Goldmine Media do everything for you, so you don't have to waste your valuable time and effort putting your own newsletter together. We take care of the editorial and imagery selection, right through to the print and delivery to you, and can even post each copy directly to your clients with a covering marketing letter in a high-grade polywrap.
Personal finance subjects presented in a clear and engaging way
Our carefully designed newsletters feature your business name, logo (photograph if required), contact details and regulatory statement, and we present even the most complex of personal finance subjects to your clients in a clear and engaging way.
Newsletters are printed on superior-quality paper and are a perfect time-saving marketing channel that will enable professional financial advisers to deliver increased revenues for their business.
Explore the most effective tax saving strategies and get ahead with your finances. Consider reliable tax outsourcing services to ensure you're making the most of your financial opportunities.
The different types of individual retirement accountEd Baxter
An Individual Retirement Account (IRA) is a type of retirement plan that gives individuals tax advantages to make them earn for their retirement plans and savings.
Maximizing Your Tax Refund: Strategies to Boost Your ReturnsThe Kalculators
When tax season approaches, many individuals eagerly anticipate receiving a tax refund. A tax refund is the amount of money returned to you by the government when you've paid more in taxes than your actual tax liability. However, to make the most of this opportunity, it's crucial to understand effective strategies for maximizing your tax refund. In this blog post, we will explore several actionable tips that can help you boost your tax refund and put more money back in your pocket.
The document provides 13 tax strategies for saving money, as outlined by Mark Huber, CFP. Strategy #1 recommends lending money to a lower-income spouse at the prescribed interest rate of 1% so any investment gains will be taxed at the spouse's potentially lower tax rate. Strategy #2 suggests liquidating investments to pay down non-deductible debt and replacing them by borrowing to make the interest deductible. Strategy #3 recommends selling losing investments to offset capital gains.
The document lists 10 tax deductions that are often overlooked. These include charitable mileage deductions, non-cash charitable contributions itemized on receipts, unreimbursed employee expenses on Form 2106, student loan interest deductions, tuition deductions, charitable IRA donations, converting traditional IRAs to Roth IRAs, paying estimated state taxes before the end of the year, and taking bonus depreciation or Section 179 expensing deductions for business equipment purchases. Keeping accurate records of expenses, donations, and payments is emphasized for maximizing tax deductions.
This document lists and briefly describes 10 of the most overlooked tax deductions. It discusses deductions for charitable mileage, non-cash charitable contributions, unreimbursed employee expenses, student loan interest, tuition deductions, charitable IRA donations, converting traditional IRAs to Roth IRAs, paying estimated state taxes before the end of the year, and bonus depreciation or Section 179 expensing for business owners. The document provides high-level information on these common tax deductions that many people fail to claim.
This document is a newsletter from Homestead Funds that provides information and advice to shareholders who are retired or nearing retirement. It discusses strategies for generating retirement income, managing investments, and preparing for retirement. It provides tips tailored to different stages leading up to retirement, such as focusing on capital preservation and withdrawing strategically from taxable accounts in early retirement. It also promotes the benefits of systematic investing during volatile markets.
The Baltimore office of StockS held a food drive in February to help stock food banks during their lean period after the holidays. Employees donated nearly 300 food items, exceeding the goal of 120 items. The food was donated to the Maryland Food Bank, which saw a large increase in demand for its services last year due to the economic recession. The food drive helped stock food bank shelves during their typically low inventory time in winter.
Despite busy schedules, employees in the Baltimore office rallied together to donate toys to Toys for Tots and participate in a cookie exchange. Over 65 toys were collected for Toys for Tots by Lynn Beamon, a former Marine, continuing a tradition she started four years ago. For the annual cookie exchange, started five years ago by Wendy Evans, employees gathered before Christmas to trade homemade cookies. The office will also hold a food drive after the holidays to replenish local food pantries drained during the Christmas season.
The Friends of the Towson Library funded several successful library programs in 2010 through their generous donations, including animal programs, craft programs, music performances, and exhibits related to Abraham Lincoln. Their funding also supported the library's summer reading program and allowed the borrowing of educational materials. The Friends' annual book sale in April 2010 was again very successful, raising over $11,000 for the library.
Vonda Kouka, the United Way Coordinator for a Baltimore office, organized a month of fun fundraising activities to help surpass her annual giving goal for United Way. Some of the activities included employees paying to wear their favorite sports jerseys, attend a magic show lunch, or wear crazy hats and socks. The most popular activity was managers taking pies to the face, raising over $200. Through Vonda's creative events and reminders, the office was able to raise $7,000 for United Way, helping people in the local community.
The document is a quarterly newsletter for Homestead Funds shareholders. It discusses Homestead Funds celebrating 20 years of investing for shareholders, preparing for retirement by estimating expenses, longevity, and income sources, and provides a spotlight on the bond funds managed by Homestead Funds.
This document provides a summary of articles in a quarterly newsletter for shareholders of Homestead Funds. The first article discusses how client service associates at Homestead Funds aim to provide helpful, friendly service to shareholders by treating them like family. The second article reviews stock market performance one year after major declines in 2008-2009. The third article spotlights the Value Fund and its long-term focus on undervalued stocks. The last section provides a summary of fund performance figures for the quarter.
The document summarizes a tour of the I-95 express toll lane reconstruction project in Maryland given to marketing professionals. The $1.4 billion project involves reconstructing 10 miles of I-95 to add two express toll lanes in each direction, and redesigning the complex I-95/I-695 interchange. The project improves traffic flow, reduces congestion through the use of electronic tolling, and has received awards for its engineering and construction work.
Annual Report: Defined Contribution Trendsmartamills
Three key themes emerged from the latest DC market research: 1) Plans are using automated services like automatic enrollment and escalation to overcome employees' irrational saving behaviors; 2) Plans are offering retirement readiness tools to address employees' overconfidence in light of stagnating savings rates; 3) Plans are innovating products and services to accommodate changing attitudes as Baby Boomers begin retirement, expecting to remain productive and work part-time. The review highlights opportunities for plans to better educate employees and improve retirement outcomes.
This document provides information about options for a 401(k) account when leaving a job or retiring. The main options are leaving the money in the current 401(k), rolling it over to an IRA, transferring to a new employer's 401(k), or withdrawing the funds. Rolling over to a Homestead Funds IRA is presented as one choice that provides investment options and control over access to funds. Key details are provided about rolling over to a Roth IRA and the tax implications. Overall the document aims to help readers understand their choices for managing 401(k) savings after leaving a job.
This document provides helpful tips for saving for education expenses through different account options like Education Savings Accounts (ESAs) and UGMA/UTMA accounts. It compares the key features of these accounts such as contribution limits, tax benefits, and restrictions on use of funds. ESAs allow tax-deferred growth and tax-free withdrawals for qualified education expenses, but contributions are not tax-deductible. UGMA/UTMA accounts require funds be used for the child's benefit, with the child gaining control at age of majority. The document recommends considering which account best fits savings goals and level of control desired.
This document is a quarterly newsletter from Homestead Funds providing information to shareholders. The main articles discuss tax planning for 2010, including using tax-deferred accounts to defer taxes and avoid penalties. It also notes a new reason to consider converting traditional IRAs to Roth IRAs in 2010. Brief news items announce staff changes and recent press mentions. It concludes with guidance on which fund documents to keep and which can be discarded.
The document provides information about enrolling in the ABC Company 401(k) Savings Plan. It encourages the reader to take the first step towards saving for retirement by enrolling in the plan. It summarizes the benefits of participating, including employer matching contributions, tax benefits, and convenience. It also provides instructions on how to select investments and how to enroll in 3 easy steps by calling a phone number, visiting a website, or mailing enrollment forms. The overall message is that now is the time to start planning and saving for retirement by taking advantage of the 401(k) plan offered by the company.
Building Production Ready Search Pipelines with Spark and MilvusZilliz
Spark is the widely used ETL tool for processing, indexing and ingesting data to serving stack for search. Milvus is the production-ready open-source vector database. In this talk we will show how to use Spark to process unstructured data to extract vector representations, and push the vectors to Milvus vector database for search serving.
How to Get CNIC Information System with Paksim Ga.pptxdanishmna97
Pakdata Cf is a groundbreaking system designed to streamline and facilitate access to CNIC information. This innovative platform leverages advanced technology to provide users with efficient and secure access to their CNIC details.
In the rapidly evolving landscape of technologies, XML continues to play a vital role in structuring, storing, and transporting data across diverse systems. The recent advancements in artificial intelligence (AI) present new methodologies for enhancing XML development workflows, introducing efficiency, automation, and intelligent capabilities. This presentation will outline the scope and perspective of utilizing AI in XML development. The potential benefits and the possible pitfalls will be highlighted, providing a balanced view of the subject.
We will explore the capabilities of AI in understanding XML markup languages and autonomously creating structured XML content. Additionally, we will examine the capacity of AI to enrich plain text with appropriate XML markup. Practical examples and methodological guidelines will be provided to elucidate how AI can be effectively prompted to interpret and generate accurate XML markup.
Further emphasis will be placed on the role of AI in developing XSLT, or schemas such as XSD and Schematron. We will address the techniques and strategies adopted to create prompts for generating code, explaining code, or refactoring the code, and the results achieved.
The discussion will extend to how AI can be used to transform XML content. In particular, the focus will be on the use of AI XPath extension functions in XSLT, Schematron, Schematron Quick Fixes, or for XML content refactoring.
The presentation aims to deliver a comprehensive overview of AI usage in XML development, providing attendees with the necessary knowledge to make informed decisions. Whether you’re at the early stages of adopting AI or considering integrating it in advanced XML development, this presentation will cover all levels of expertise.
By highlighting the potential advantages and challenges of integrating AI with XML development tools and languages, the presentation seeks to inspire thoughtful conversation around the future of XML development. We’ll not only delve into the technical aspects of AI-powered XML development but also discuss practical implications and possible future directions.
Unlocking Productivity: Leveraging the Potential of Copilot in Microsoft 365, a presentation by Christoforos Vlachos, Senior Solutions Manager – Modern Workplace, Uni Systems
Unlock the Future of Search with MongoDB Atlas_ Vector Search Unleashed.pdfMalak Abu Hammad
Discover how MongoDB Atlas and vector search technology can revolutionize your application's search capabilities. This comprehensive presentation covers:
* What is Vector Search?
* Importance and benefits of vector search
* Practical use cases across various industries
* Step-by-step implementation guide
* Live demos with code snippets
* Enhancing LLM capabilities with vector search
* Best practices and optimization strategies
Perfect for developers, AI enthusiasts, and tech leaders. Learn how to leverage MongoDB Atlas to deliver highly relevant, context-aware search results, transforming your data retrieval process. Stay ahead in tech innovation and maximize the potential of your applications.
#MongoDB #VectorSearch #AI #SemanticSearch #TechInnovation #DataScience #LLM #MachineLearning #SearchTechnology
Goodbye Windows 11: Make Way for Nitrux Linux 3.5.0!SOFTTECHHUB
As the digital landscape continually evolves, operating systems play a critical role in shaping user experiences and productivity. The launch of Nitrux Linux 3.5.0 marks a significant milestone, offering a robust alternative to traditional systems such as Windows 11. This article delves into the essence of Nitrux Linux 3.5.0, exploring its unique features, advantages, and how it stands as a compelling choice for both casual users and tech enthusiasts.
Observability Concepts EVERY Developer Should Know -- DeveloperWeek Europe.pdfPaige Cruz
Monitoring and observability aren’t traditionally found in software curriculums and many of us cobble this knowledge together from whatever vendor or ecosystem we were first introduced to and whatever is a part of your current company’s observability stack.
While the dev and ops silo continues to crumble….many organizations still relegate monitoring & observability as the purview of ops, infra and SRE teams. This is a mistake - achieving a highly observable system requires collaboration up and down the stack.
I, a former op, would like to extend an invitation to all application developers to join the observability party will share these foundational concepts to build on:
Pushing the limits of ePRTC: 100ns holdover for 100 daysAdtran
At WSTS 2024, Alon Stern explored the topic of parametric holdover and explained how recent research findings can be implemented in real-world PNT networks to achieve 100 nanoseconds of accuracy for up to 100 days.
Threats to mobile devices are more prevalent and increasing in scope and complexity. Users of mobile devices desire to take full advantage of the features
available on those devices, but many of the features provide convenience and capability but sacrifice security. This best practices guide outlines steps the users can take to better protect personal devices and information.
Climate Impact of Software Testing at Nordic Testing DaysKari Kakkonen
My slides at Nordic Testing Days 6.6.2024
Climate impact / sustainability of software testing discussed on the talk. ICT and testing must carry their part of global responsibility to help with the climat warming. We can minimize the carbon footprint but we can also have a carbon handprint, a positive impact on the climate. Quality characteristics can be added with sustainability, and then measured continuously. Test environments can be used less, and in smaller scale and on demand. Test techniques can be used in optimizing or minimizing number of tests. Test automation can be used to speed up testing.
For the full video of this presentation, please visit: https://www.edge-ai-vision.com/2024/06/building-and-scaling-ai-applications-with-the-nx-ai-manager-a-presentation-from-network-optix/
Robin van Emden, Senior Director of Data Science at Network Optix, presents the “Building and Scaling AI Applications with the Nx AI Manager,” tutorial at the May 2024 Embedded Vision Summit.
In this presentation, van Emden covers the basics of scaling edge AI solutions using the Nx tool kit. He emphasizes the process of developing AI models and deploying them globally. He also showcases the conversion of AI models and the creation of effective edge AI pipelines, with a focus on pre-processing, model conversion, selecting the appropriate inference engine for the target hardware and post-processing.
van Emden shows how Nx can simplify the developer’s life and facilitate a rapid transition from concept to production-ready applications.He provides valuable insights into developing scalable and efficient edge AI solutions, with a strong focus on practical implementation.
GraphSummit Singapore | The Future of Agility: Supercharging Digital Transfor...Neo4j
Leonard Jayamohan, Partner & Generative AI Lead, Deloitte
This keynote will reveal how Deloitte leverages Neo4j’s graph power for groundbreaking digital twin solutions, achieving a staggering 100x performance boost. Discover the essential role knowledge graphs play in successful generative AI implementations. Plus, get an exclusive look at an innovative Neo4j + Generative AI solution Deloitte is developing in-house.
TrustArc Webinar - 2024 Global Privacy SurveyTrustArc
How does your privacy program stack up against your peers? What challenges are privacy teams tackling and prioritizing in 2024?
In the fifth annual Global Privacy Benchmarks Survey, we asked over 1,800 global privacy professionals and business executives to share their perspectives on the current state of privacy inside and outside of their organizations. This year’s report focused on emerging areas of importance for privacy and compliance professionals, including considerations and implications of Artificial Intelligence (AI) technologies, building brand trust, and different approaches for achieving higher privacy competence scores.
See how organizational priorities and strategic approaches to data security and privacy are evolving around the globe.
This webinar will review:
- The top 10 privacy insights from the fifth annual Global Privacy Benchmarks Survey
- The top challenges for privacy leaders, practitioners, and organizations in 2024
- Key themes to consider in developing and maintaining your privacy program
1. Homestead Funds’
helpful tips
Simplifying
TaxTıme
for Investors
We often get calls from investors
who need help understanding
their responsibilities regarding
taxes on mutual fund investments.
This information will help
you understand
what action to take
regarding your investment
For many Americans, the date April 15 conjures feelings of
anxiety or even dread. Often, what causes these unpleasant earnings when filing your
feelings is not just the financial pain of paying taxes, but the
federal tax return this year.
insecurity of not knowing the rules as far as what’s taxable
and at what rate.
This information sheet is designed to help Homestead Funds’
investors figure out who may need to pay investment-related
taxes and what forms and paperwork you will need.
Brian Parris, Homestead Funds’ Client Service Associate
Tax-deferred accounts, like IRAs
If your money is in an Individual Retirement Account (IRA), your
account earnings are tax-deferred or tax-free, depending
on the type of IRA you have. That means you will not have
to pay any tax until you make a withdrawal from the account.
2. If you have a Traditional or Rollover IRA and took money out of
that account, you will owe income tax on the amount you withdrew,
called a “distribution.” (That’s true unless you funded your IRA with
non-tax-deductible contributions, in which case only the earnings
This guide is meant as a are taxable.) Furthermore, if you had not reached the qualified
retirement age (591⁄2, as defined by the government) when you made
starting point to the withdrawal, you may possibly face a 10% tax penalty on the
understanding your federal amount withdrawn.
tax responsibilities. If you have a Roth IRA and took money out of your account, your
distribution is tax- and penalty-free, provided you are age 591⁄2 or
State tax laws vary and are not older and your account was open for at least five years. Other
addressed here. exemptions may include disability, the first-time purchase of a home
or a beneficiary distribution due to death.
If you are retired and have a Traditional or Rollover IRA, you should
be aware that the government requires you to start taking money
from your IRA soon after you reach age 701⁄2. Homestead Funds
will send you a reminder when it’s time to start taking these
Required Minimum Distribution payments. Roth IRAs are not subject to
the same Required Minimum Distribution payments. Please
see the Helpful Tips fact sheet,Taking Your Required Minimum
Distribution, for more information.
Tax-friendly investment strategies
You don’t have to be rich to make use of the following tax-friendly investment strategies:
Invest in tax-deferred accounts. Invest in tax-free accounts.
To help you save more for retirement, most retirement If you invest in a Roth IRA and keep your money there at
accounts delay the tax due on your investment earnings least five years and withdraw it after age 591⁄2, your invest-
until you begin withdrawals. These are called tax-deferred ment earnings are tax-free!
accounts. Examples of tax-deferred accounts are 401(k) and
Distributions from IRAs may be subject to income tax and,
403(b) plan accounts, and Individual Retirement Accounts if taken before age 591⁄2, are subject to a 10% premature
(IRAs). In addition, there are tax-deferred accounts for educa- distribution penalty. Distributions from Education Savings
tion savings, such as Education Savings Accounts. Accounts used for expenses other than qualified education
expenses may be subject to federal or state income taxes
as well as penalty taxes.
3. £Your Homestead Funds’ year-end statements. You may need to
£IRS Form 1099-DIV, which Homestead Funds sends to you at the
Taxable accounts
If your money is in a regular taxable account, you’ll owe tax on
the amount of money your fund earned for you. A fund’s earnings are
distributed to shareholders in the form of income or capital gains,
which are either paid to you in cash or automatically reinvested in your
account. Your share of any Homestead Fund earnings distributions
will be reported to you on Form 1099-DIV, sent to you in January.
Also, if you sold shares or made an exchange from one fund to
another, you’ll need to determine if your transaction resulted in Save all of your
a capital gain or loss and the amount of any tax due. To calculate this,
you’ll need to know the cost of the shares that you sold, called your
year-end mutual
“basis,” as well as the sale price and your holding period. Your year- fund statements.
end account statements include purchase and sale prices for all
You’ll need these to calculate
of your fund transactions in any given year. Once you have your
statements in hand, you can refer to IRS Publication 564, Mutual Fund your cost basis if you
Distributions, or see your tax professional to calculate your cost
own taxable accounts.
basis and determine any tax due.
Forms and paperwork you will need
While gathering the necessary forms and documents for tax time
may feel like a burden, thanks to technology most of what you’ll
need is available on the Internet or is a phone call away. Here are
the papers you’ll want to have handy at tax-filing time:
refer to current and prior year statements in order to determine the
amount of tax you owe as a result of selling or exchanging shares
held in taxable accounts.
end of January, reports any dividends or capital gains earned by
your funds. Mutual funds are required to pass these distributions
through to shareholders. For investors in taxable accounts, these dis-
tributions — whether paid or reinvested — are generally taxable
to you in the year earned.
4. £IRS Form 1099-B lists proceeds from any sale or exchange
£IRS Form 1099-R reports any distribution taken from an IRA £Building your retirement savings
£Saving for education
£Simplifying account management
£Understanding mutual fund costs
£Handling investment risk
£Deciding what to do with your 401(k)
£Taking your required minimum
£Managing your savings in retirement
We have helpful tips on other
investment topics, too!
For a complimentary fact sheet
about any of the following topics,
download them from our website
of fund shares held in a taxable account. Refer to this
at www.homesteadfunds.com or
form plus your year-end account statements to calculate
call one of our friendly associates
your basis and determine the amount of any tax due.
at 1-800-258-3030:
or other type of retirement account and the amount withheld
for payment of federal income tax.
View tax forms online. If you misplaced any of these tax
forms, log in to your account at www.homesteadfunds.com.
Tax forms are posted online after they are mailed to sharehold-
ers. Tax forms for the current tax year are typically available
in late January of the following year. distribution
Do you have more questions?
Just call us at 1-800-258-3030 to speak with one of our
friendly client service associates and to request a prospectus.
Investors are advised to consider fund objectives, risks,
charges and expenses carefully before investing. The
prospectus contains this and other information. Read
the prospectus carefully before you invest or send money.
Helpful resources
Homestead Funds is here for you. If you need a duplicate statement or tax form mailed to you, call
one of our friendly associates at 1-800-258-3030. Please allow us a few weeks to retrieve and mail this
information to you.
You may also want to request our free Records Organizer. This is a handy way to store your tax forms
and statements.
The Internal Revenue Service has a comprehensive website with forms and explanatory publications
you can download. You may also be eligible to file your federal taxes electronically free of charge if you
go through the IRS site. Go to the official website for the IRS at www.irs.gov.
4301 Wilson Boulevard Arlington, VA 22203-1860 1-800-258-3030 www.homesteadfunds.com
Mutual funds are subject to market risk, including the potential loss of principal invested.
Homestead Funds investment manager, RE Advisers, and distributor, RE Investment Corporation,
are indirect, wholly owned subsidiaries of NRECA. RE Investment Corporation, Distributor. 09/09