The Fiscal Cliff Deal & Your Taxes
What will change (and won’t change) as a result of the new legislation - here are the major details in the bill, which in the big picture would raise taxes by roughly $600 billion across the next ten years.
Why 2013 May Be a Very Good Year
With 2013 approaching, stock market volatility seems to have increased. Equities rise on optimistic remarks about a fiscal cliff solution, then fall when another voice expresses pessimism, and vice versa. In addition to this constant seesawing, the market is contending with anxieties about Europe, with the eurozone now officially in another recession, and the strong possibility of higher taxes on capital gains and dividends in 2013 plus surtaxes on varieties of net investment income. Even so, 2013 may turn out to be a good year for stocks. Our economy looks to be healing, and that may give investors around the world more optimism.
Should You Always Withdraw from IRAs Last?
According to conventional retirement planning wisdom, you should structure your retirement withdrawals so that money comes out of your taxable accounts first, then your tax-deferred accounts, and then finally your tax-free accounts. Roughly speaking, that means withdrawing income from investment funds, CDs, money market accounts and bank accounts before taking a dime from your IRAs.
Will You Be Hit by the Medicare Surtax?
On January 1, a new 3.8% tax on certain kinds of investment income is set to take effect. The Medicare surtax (officially termed the Unearned Income Medicare Contribution) is slated to affect...
The Year in Review - A Look Back at 2012 Thus Far
Stock market bears might characterize 2012 as a year of living dangerously, a year in which Wall Street coped with major risks to the American and European economies. Stock market bulls might end up remembering 2012 for what didn’t happen: Greece had resisted a temptation to exit the euro, and it looked as if bipartisan negotiation might save the U.S. economy from heading over the fiscal cliff. In late November, stocks appeared on track for some solid yearly gains.
CEO of NEXT Financial on the 700 Club: Year-End Tax Tips
Watch this video for some great tax tips from the chairman & CEO of my company, Gordon D'Angelo on The 700 Club - he also talks about his New York Times best-seller "Vision: Your Pathway to Victory". These year-end financial planning tax tips will come in handy as tax season approaches in the new year.
Social Security Strategies
For a married couple, the difference between a good Social Security election decision and a poor one is often well over $100,000! What's At Stake For You?
Big Tax Questions of 2013
Decisions must be made. In the next couple of months, Congress will address several major tax matters. Here are the big questions looming...
Top 10 Reasons NOT to Plan for Retirement
You probably read or hear about some “Top Ten” list nearly every day. But take a moment to read this one. This list is different, and probably not the kind of list you’d expect a Financial Advisor to write.
Some Fiscal Cliff Scenarios
The fiscal cliff is getting closer and closer. In the worst-case scenario, Congress argues and deadlocks. Tax hikes and roughly $109 billion in federal spending cuts take a bite out of GDP and another recession becomes a possibility. There are other possibilities, however. The fiscal cliff may yet be averted, or at least we might back away from its edge. One of several scenarios might come to pass.
Avoiding Financial Catastrophe
Wildfires, hurricanes, terrorist attacks, floods, earthquakes … there are many disasters, both man-made and natural, that could happen without warning. For many, preparedness is a way of life. If you’ve lived all your life on a fault line, for example, then making your home and belongings earthquake-ready may be a no-brainer. But are you totally prepared? Are you financially prepared?
Overview of SIMPLE 401(k)s
What do you know about the SIMPLE 401(k)? Most business owners have heard of it, yet don’t know much about this retirement savings vehicle.
Important IRS Adjustments for 2013
The IRS has set annual contribution limits for IRAs, 401(k)s and other retirement plans higher for 2013, and made other important adjustments for inflation as well. Here is an overview of some notable changes just announced.
Annual Financial To-Do List
What financial, business or life priorities do you need to address for 2013? Now is a good time to think about the investing, saving or budgeting methods you could employ toward specific objectives. Some year-end financial moves may prove crucial to the pursuit of those goals as well.
Big Spenders vs. Big Savers
You stand at your window and look across the street. Nice house, you think. Nice landscaping. Nice sports car. Nice driveway. New bikes for the kids. Wow, your neighbors are really well off. If only you had that kind of money.
That plain home down the street with the older model sedan parked out front pales in comparison. A couple in their seventies lives there, and the front yard hasn’t been spruced up in a decade. Who knows, maybe they struggle just to get by.
If you could somehow look into the financial lives of those two households, you might be surprised. The couple with all the toys might not be as wealthy as the neighborhood perceives, while the vanilla exterior on that humble rancher might hide a multimillionaire next door.
Should You Take a Pension Buyout?
If you get a pension buyout offer from your longtime employer, you may be more than a little anxious. Does that lump sum constitute a good deal for you, or for the corporation or organization bringing you retirement income?
Why You Should Keep Contributing to Your 401k
There is seldom a dull moment on Wall Street. Stocks may rise or fall dramatically over the course of a year or a decade. Sometimes, breaking news may tempt you to pull money out of your 401(k) or greatly reduce your contributions. If you’re considering such a move, think twice.
Medicare Open Enrollment for 2013
Medicare Open Enrollment has arrived - the open enrollment period begins October 15 and ends December 7, 2012. This is not only a period where you may enroll for the program, but also switch providers for your comprehensive health and drug coverage.
Will the Market Lose Momentum?
Stocks performed surprisingly well in the first three quarters of 2012, but developments in the fourth quarter are giving analysts pause. While no one sees the bulls turning tail and running, there are emerging factors that may challenge their advance in the near term.
Should You Reduce Risk Exposure as you Get Older?
If you move away from equities with age, are you making a mistake? For some time, financial professionals have encouraged investors to lessen their exposure to the stock market as they get older. After all, a 60-year-old has less time to recover from a market downturn than someone decades away from collecting Social Security checks.