There are several scenarios that would make a non-deductible IRA contribution useful to an investor. These include low capital gains tax rates and a strategy involving converting an appreciated account to a Roth IRA. For more information on how a non-deductible IRA contribution may benefit you, read this Financial Strategy.
Long-term care insurance has evolved into a product that supports aging or ill individuals staying at home or living in a facility when full-time care is necessary. Long-term care policies have a variety of options, riders and eligibility requirements that need to be carefully considered. For more need-to-know information about long-term care insurance before you consider purchasing a policy, read this Insurance Know-How.
Henssler Financial follows a strict investment philosophy for all investors. When it comes to equity investments, we suggest only investing money you will not need within the next 10 years in high quality, individual common stocks that fall within a strict investment criteria. For more details on how we choose individual common stocks, read this Financial Tip.
The Investment Interest Deduction: Will You Get Your Deduction This Year? Margin Account Holders May Be In For a Surprise
The Internal Revenue Code allows investors to borrow money to make an investment, and to deduct that interest to the extent of their net investment income. However, many investors find that their investment income is treated as Qualified Dividend Income, which receives preferential tax treatment. For more information on why these investors cannot take an investment interest deduction, read this C.P.A. Insight.
Great-uncle Harry passed away and left you a fortune in coins. What a windfall! However, later you find out the coins are rare antiques and no longer U.S. currency. If you find yourself in a situation where you want to sell a rare coin collection and need to know how to obtain a fair and reasonable price, read this Financial
You traveled to Aspen to sign a contract with a client on Thursday, but you stayed until Sunday to enjoy some time on the ski slopes to celebrate the deal. Before you write the entire trip off as a business expense, there are a few circumstances that need to be examined before determining deductibility. For more information on trips that mix business with pleasure, read this C.P.A. Insight.
If you won a week at a vacation property in Florida in your church’s silent auction, you are allowed to enjoy your vacation, but you are not allowed to consider your bid as a charitable donation on your taxes. For more information on how the IRS views charitable use of vacation homes, read this C.P.A. Insight.
Recent surveys show that while couples agree investment and retirement plans need adjustment because of the the market’s downturn, they do not agree on how their plans should be adjusted. For more information on what you and your spouse should consider when evaluating your financial future, read this Financial Strategy.
Executors of a Will are required to administer an estate with the highest degree of trust and honesty. It can be a daunting task, depending on the complexity of the estate. For more information on some of the duties/requirements of an executor, read this Financial Strategy.
If you are a non-spouse beneficiary of an IRA, the IRS has very specific rules as to how the IRA must be treated to avoid immediate taxation. Tax planning is a must as once mistakes have been made, they cannot be undone, which could result in loosing thousands of dollars to taxes. For more information on how an inherited IRA should be treated, read this C.P.A. Insight.