Many people have a lot of questions about 1099 forms when we get to tax season each year. Tom answers some frequently asked 1099 form questions, and shares the number one thing most people forget to include in their cost basis each year.
Este documento presenta un juego de trivia sobre Pokémon Ho-oh que consiste en preguntas con múltiples opciones de respuesta sobre Pokémon. La primera pregunta se refiere a qué Pokémon pertenece una espiral mostrada y ofrece cuatro opciones de Pokémon como posibles respuestas.
This document provides an overview of IRS Form 1099 reporting requirements including:
1) Form 1099 reporting alerts the IRS that a payment has been made to a payee and reminds the payee that they received a payment. Payments subject to backup withholding require withholding 28% of the payment unless certain information is provided.
2) Common reportable payments include interest, dividends, royalties, payments for services, and certain miscellaneous payments. The document discusses reporting issues for these payments and exempt payees.
3) The online matching program allows payors to check TIN/payee name combinations to reduce backup withholding notices. Completing Form 1099 requires the primary account owner's
This is my slide deck from my session at the North Carolina Reading Conference last week in Raleigh, NC. I do staff development to schools and districts all over the country about best practices in literacy instruction. This topic is one of my most requested.
This document discusses distributions from mutual funds and exchange-traded funds (ETFs). It explains that mutual funds can distribute income, dividends, short-term capital gains, and long-term capital gains to shareholders. It also notes that when a mutual fund sells assets that have appreciated over many years, the capital gains are distributed to current shareholders even if they have only held the fund for a shorter period. The document additionally covers how mutual fund managers determine which assets to sell when redemptions are requested and that mutual funds carry over capital losses instead of distributing them. Finally, it states that ETFs also distribute income, dividends, and any realized capital gains or losses to shareholders.
The document discusses two funds - FOCPX, a large cap growth fund, and IYW, an ETF that tracks the technology sector. FOCPX's top holdings include Apple, Google, and Oracle. It has an expense ratio of 0.9% and reports holdings semi-annually. IYW's top holdings are similar tech giants and it has a lower expense ratio of 0.48%. It trades on an exchange so there are no sales charges. The document cautions that nothing in the podcast should be considered investment advice and advises consulting an advisor before making investment decisions.
Rebalancing because the calendar has reached a specific date is not the best approach when it comes to growing your assets. Rebalancing according to what changes are currently happening in the market makes much more sense.
Many investors don't know the difference between Roth IRA's and traditional IRA's. Learn how they differ in this presentation from Mullooly Asset Management.
Este documento presenta un juego de trivia sobre Pokémon Ho-oh que consiste en preguntas con múltiples opciones de respuesta sobre Pokémon. La primera pregunta se refiere a qué Pokémon pertenece una espiral mostrada y ofrece cuatro opciones de Pokémon como posibles respuestas.
This document provides an overview of IRS Form 1099 reporting requirements including:
1) Form 1099 reporting alerts the IRS that a payment has been made to a payee and reminds the payee that they received a payment. Payments subject to backup withholding require withholding 28% of the payment unless certain information is provided.
2) Common reportable payments include interest, dividends, royalties, payments for services, and certain miscellaneous payments. The document discusses reporting issues for these payments and exempt payees.
3) The online matching program allows payors to check TIN/payee name combinations to reduce backup withholding notices. Completing Form 1099 requires the primary account owner's
This is my slide deck from my session at the North Carolina Reading Conference last week in Raleigh, NC. I do staff development to schools and districts all over the country about best practices in literacy instruction. This topic is one of my most requested.
This document discusses distributions from mutual funds and exchange-traded funds (ETFs). It explains that mutual funds can distribute income, dividends, short-term capital gains, and long-term capital gains to shareholders. It also notes that when a mutual fund sells assets that have appreciated over many years, the capital gains are distributed to current shareholders even if they have only held the fund for a shorter period. The document additionally covers how mutual fund managers determine which assets to sell when redemptions are requested and that mutual funds carry over capital losses instead of distributing them. Finally, it states that ETFs also distribute income, dividends, and any realized capital gains or losses to shareholders.
The document discusses two funds - FOCPX, a large cap growth fund, and IYW, an ETF that tracks the technology sector. FOCPX's top holdings include Apple, Google, and Oracle. It has an expense ratio of 0.9% and reports holdings semi-annually. IYW's top holdings are similar tech giants and it has a lower expense ratio of 0.48%. It trades on an exchange so there are no sales charges. The document cautions that nothing in the podcast should be considered investment advice and advises consulting an advisor before making investment decisions.
Rebalancing because the calendar has reached a specific date is not the best approach when it comes to growing your assets. Rebalancing according to what changes are currently happening in the market makes much more sense.
Many investors don't know the difference between Roth IRA's and traditional IRA's. Learn how they differ in this presentation from Mullooly Asset Management.
Don't hire the next Bernie Madoff! There are plenty of red flags to be on the alert for when meeting new investment advisors. Ask plenty of questions and make sure you feel comfortable before making a decision.
The podcast discusses retirement planning and target date funds. It explains that target date funds automatically become more conservative over time by adjusting the mix of stocks, bonds, and cash as the target retirement date approaches. The podcast provides examples of different target date funds and their current allocations, including one fund that is 90% stocks, 7% bonds, and 3% cash. It cautions investors to carefully consider the stocks and funds that make up target date funds.
The document discusses the differences between open-end and closed-end funds. It outlines the three primary types of open-end funds: front-end funds, back-end funds, and low-level load funds. It describes the two main fees built into funds as management expenses and sales charges. It provides examples of how fees work for each type of open-end fund. The document cautions that returns stated as net of fees and expenses may not fully reflect the impact of fees depending on the example.
The Dow Jones has reached a new record high what does it mean for investors though? Learn what happened last time the Dow reached a new high, and why this time looks to be different.
This podcast discusses fiduciary obligations and who has them. A fiduciary obligation requires recommendations to be both suitable and prudent, while brokers only need recommendations to meet a presumption of suitability. The podcast warns listeners not to rely on it alone for investment advice and to consult an advisor before making investment decisions.
Bullish percent is a risk indicator but not a market timing trigger! Learn more about bullish percent in this presentation from Mullooly Asset Management.
The document discusses options for retirement savings and college savings. It notes that stopping retirement contributions for one or two years could provide $17,000-$34,000 but is risky as one must be disciplined to restart contributions. It also states that student loans can be used for college but not retirement, so saving for retirement should take priority. The document cautions that 529 plans and custodial accounts have pros and cons for college savings.
80% of the risk from investing comes from not being invested in the right sector or not paying attention to market conditions. Choosing the "hot stock" is of little importance. Sector-based investing is more valuable.
Learn about the three kinds of annuities. The three kinds are immediate annuities, fixed annuities, and variable annuities. There are some serious questions you should be asking before getting involved with any annuity. Learn about them in this presentation.
Wondering whether you should invest with a discount brokerage firm or a full-service firm? This presentation outlines what you can expect from both discount brokers and full-service brokers.
In this presentation New Jersey investment adviser Tom Mullooly discusses long term indicators. Mullooly Asset Management uses three long term indicators to check the overall direction of the market when using point and figure charts.
A recent study found that most US households with $100,000-$500,000 in assets do not have a formal retirement plan and have not spoken to a financial advisor. Many people do not contact an advisor due to fear, lack of trust, or not wanting to appear unintelligent. The podcast discusses different types of financial advisors and how they are paid, such as fee-only, commissions, or a mix of fees and commissions. It cautions listeners that the podcast is not investment advice and to consult an advisor before making investment decisions.
Intermediate term indicators are probably the most relevant to investors with a 401k plan at work or a personal portfolio. Intermediate term indicators involve using bullish percent charts from different areas of the market. Learn about that in this presentation.
The podcast discusses Mullooly Asset Management's approach to investing which uses short, intermediate, and long term indicators together like a "dimmer switch" to determine when to buy and sell investments. This "dimmer switch" method helps avoid being too bullish at market tops or too defensive at market bottoms. The podcast also cautions listeners to consult their investment advisor before making decisions based on the podcast.
Many investors want to know how much commission stock brokers make? This question has more to do with the brokerage firm and how they run their business. Many brokerage firms categorize their brokers into levels of production. They also classify their clients based on assets.
Are bonds a safe investment? Probably not as safe as many financial planners would like you to think. If you are looking to make money in the long term, bonds are likely not where you should be investing your money.
Many people wonder how much investment advice should cost them. That depends on whether they choose to work with a fee-only investment advisor, financial planner, or stock broker. Learn they different ways they charge for investment advice in this presentation.
Financial planning has two fundamental building blocks involved with it. These are saving and budgets. If you aren't paying yourself first, how can you expect to construct a financial plan?
Knowing what you spend monthly seems like a simple concept. How much money does it take for you to live comfortably each month? So many investors don't know this. If you don't follow simple financial planning concepts like monthly budgeting, then how do you expect to successfully save money?
The document discusses traditional asset allocation models used by many financial planners that divide investments into categories like stocks, bonds, and cash. It notes that the standard 60/40 portfolio allocation of 60% stocks and 40% bonds and cash may not be optimal as smaller-cap stocks have outperformed large-cap stocks in the past 12 years while fixed income carries more risk now and cash provides no yield. The document suggests most advisors use simple asset allocation models to spread risk rather than actively choosing sectors that are performing well.
This document contains various quotes and passages on different topics such as psychology, prospecting, and trading strategies. It discusses the importance of visualizing success and maintaining a positive mindset. It also offers tips for daily trading management, including setting alerts, reading emails, charting by hand, journaling positions, and using combo signals. One decision to ignore a sell signal resulted in losses for the year.
What is a conservative investor and what can they expect when they invest? These are two questions that advisors and investors seem to have different answers for.
Don't hire the next Bernie Madoff! There are plenty of red flags to be on the alert for when meeting new investment advisors. Ask plenty of questions and make sure you feel comfortable before making a decision.
The podcast discusses retirement planning and target date funds. It explains that target date funds automatically become more conservative over time by adjusting the mix of stocks, bonds, and cash as the target retirement date approaches. The podcast provides examples of different target date funds and their current allocations, including one fund that is 90% stocks, 7% bonds, and 3% cash. It cautions investors to carefully consider the stocks and funds that make up target date funds.
The document discusses the differences between open-end and closed-end funds. It outlines the three primary types of open-end funds: front-end funds, back-end funds, and low-level load funds. It describes the two main fees built into funds as management expenses and sales charges. It provides examples of how fees work for each type of open-end fund. The document cautions that returns stated as net of fees and expenses may not fully reflect the impact of fees depending on the example.
The Dow Jones has reached a new record high what does it mean for investors though? Learn what happened last time the Dow reached a new high, and why this time looks to be different.
This podcast discusses fiduciary obligations and who has them. A fiduciary obligation requires recommendations to be both suitable and prudent, while brokers only need recommendations to meet a presumption of suitability. The podcast warns listeners not to rely on it alone for investment advice and to consult an advisor before making investment decisions.
Bullish percent is a risk indicator but not a market timing trigger! Learn more about bullish percent in this presentation from Mullooly Asset Management.
The document discusses options for retirement savings and college savings. It notes that stopping retirement contributions for one or two years could provide $17,000-$34,000 but is risky as one must be disciplined to restart contributions. It also states that student loans can be used for college but not retirement, so saving for retirement should take priority. The document cautions that 529 plans and custodial accounts have pros and cons for college savings.
80% of the risk from investing comes from not being invested in the right sector or not paying attention to market conditions. Choosing the "hot stock" is of little importance. Sector-based investing is more valuable.
Learn about the three kinds of annuities. The three kinds are immediate annuities, fixed annuities, and variable annuities. There are some serious questions you should be asking before getting involved with any annuity. Learn about them in this presentation.
Wondering whether you should invest with a discount brokerage firm or a full-service firm? This presentation outlines what you can expect from both discount brokers and full-service brokers.
In this presentation New Jersey investment adviser Tom Mullooly discusses long term indicators. Mullooly Asset Management uses three long term indicators to check the overall direction of the market when using point and figure charts.
A recent study found that most US households with $100,000-$500,000 in assets do not have a formal retirement plan and have not spoken to a financial advisor. Many people do not contact an advisor due to fear, lack of trust, or not wanting to appear unintelligent. The podcast discusses different types of financial advisors and how they are paid, such as fee-only, commissions, or a mix of fees and commissions. It cautions listeners that the podcast is not investment advice and to consult an advisor before making investment decisions.
Intermediate term indicators are probably the most relevant to investors with a 401k plan at work or a personal portfolio. Intermediate term indicators involve using bullish percent charts from different areas of the market. Learn about that in this presentation.
The podcast discusses Mullooly Asset Management's approach to investing which uses short, intermediate, and long term indicators together like a "dimmer switch" to determine when to buy and sell investments. This "dimmer switch" method helps avoid being too bullish at market tops or too defensive at market bottoms. The podcast also cautions listeners to consult their investment advisor before making decisions based on the podcast.
Many investors want to know how much commission stock brokers make? This question has more to do with the brokerage firm and how they run their business. Many brokerage firms categorize their brokers into levels of production. They also classify their clients based on assets.
Are bonds a safe investment? Probably not as safe as many financial planners would like you to think. If you are looking to make money in the long term, bonds are likely not where you should be investing your money.
Many people wonder how much investment advice should cost them. That depends on whether they choose to work with a fee-only investment advisor, financial planner, or stock broker. Learn they different ways they charge for investment advice in this presentation.
Financial planning has two fundamental building blocks involved with it. These are saving and budgets. If you aren't paying yourself first, how can you expect to construct a financial plan?
Knowing what you spend monthly seems like a simple concept. How much money does it take for you to live comfortably each month? So many investors don't know this. If you don't follow simple financial planning concepts like monthly budgeting, then how do you expect to successfully save money?
The document discusses traditional asset allocation models used by many financial planners that divide investments into categories like stocks, bonds, and cash. It notes that the standard 60/40 portfolio allocation of 60% stocks and 40% bonds and cash may not be optimal as smaller-cap stocks have outperformed large-cap stocks in the past 12 years while fixed income carries more risk now and cash provides no yield. The document suggests most advisors use simple asset allocation models to spread risk rather than actively choosing sectors that are performing well.
This document contains various quotes and passages on different topics such as psychology, prospecting, and trading strategies. It discusses the importance of visualizing success and maintaining a positive mindset. It also offers tips for daily trading management, including setting alerts, reading emails, charting by hand, journaling positions, and using combo signals. One decision to ignore a sell signal resulted in losses for the year.
What is a conservative investor and what can they expect when they invest? These are two questions that advisors and investors seem to have different answers for.
The podcast discusses stock market trends over the past 50 years, noting that historically October through May has averaged a 6.6% return while May through October has averaged 0.8%. While September is usually the worst month of the year, in 2013 the Dow Jones and S&P 500 both rose around 3%. The podcast warns against relying too heavily on historical patterns and predicts outcomes, saying these types of predictions are like a weather forecast and markets do not always follow the same patterns.
How diversified is your retirement plan at work? Do you have good options when it comes to saving for retirement? If you don't have good investment options, find out if you have a self-directed brokerage option.
What are the benefits of point and figure charting? There are quite a few. The most important being that it clearly shows us supply and demand. It allows us turn down the noise created by the financial media, and focus on what matters. That is why we utilize point and figure technical analysis here at Mullooly Asset Management.
Learn why you must have an emergency fund and how much you should have in it. This is an important financial planning concept that many people are unaware of.
This podcast summary discusses a New York Times article about retirees facing a million-dollar illusion due to underestimating how long their savings need to last. The podcast suggests that moving too heavily into bonds near retirement can be problematic as stocks often continue growing longer. Instead, it recommends staying in the stock market longer and averaging into bonds over time rather than all at once. Listeners are advised to consult their financial advisors before making investment decisions.
Getting out of student loan debt is a goal most people spend their twenties accomplishing. There is a government program that could lighten the financial burden students loans are putting on your cash flow. You should know about this program.
Gain a better understanding of leveraged Exchange Traded Funds. These ETFs are not your average funds, so you should completely understand them (and consult your investment advisor) before making a decision to invest.
Alan Greenspan, Ben Bernanke, and Warren Buffet have all cautioned against bonds recently and deemed them risky investments. So what makes the risk level so high?
Tom gets into a recent tweet by radio personality Dave Ramsey. He claims that saving a million dollars for retirement is feasible, and in fact simple. The main message of his tweet was to save more money!
More from Thomas Mullooly CEO Investment Advisor Financial Planner (13)
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
2. Investment Related 1099 Forms
Used to be out by January 31st
Now being sent the end of February
No 1099-INT if less than $10 interest
No 1099-B if you did not SELL a security
Mullooly Asset Management February 2013
3. 1099 OID 1099 DIV
Original Issue Discount For Dividends
Taxed each year, even Shows dividends earned
though not received
Shows capital gain
distributions
Mullooly Asset Management February 2013
4. Gross Proceeds
Summary of gains/losses
First time this information appears
Mullooly Asset Management February 2013
5. When Selling a Mutual Fund
Include capital gains to your cost basis
Mullooly Asset Management February 2013
7. None of the securities mentioned in this (or any) podcast or
video represent past specific recommendations of Mullooly
Asset Management.
This video is NOT a recommendation to buy or sell any of
the securities mentioned here.
If you’re relying on a podcast for investment advice, you are
likely making a huge mistake.
We strongly urge our listeners to consult with their
investment advisor before they make a decision to buy or
sell any investment.
Mullooly Asset Management February 2013
8. Mullooly Asset Management, LLC
support (at) mullooly (dot) net
732-223-9000
www.mullooly.net
Mullooly Asset Management February 2013