Archive for the ‘Personal Finance’ Category:

Why hire a CFA to manage your wealth?

Written on April 4th, 2017 by Jamesno shouts

There is a difference:

https://www.cfainstitute.org/learning/investor/Documents/why_hire_a_cfa_charterholder.pdf

Filed under Investing, Personal Finance Tags:

Retirement Minute – max Social Security in 2017

Written on March 13th, 2017 by Jamesno shouts

What’s wrong with a rule that advisors have to act in their clients best interest?

Written on February 3rd, 2017 by Jamesno shouts

I’m not a fan of the government over regulation, but asking financial advisors to act in their clients best interest seems like a no brainer.  Why are the big guys asking Trump to repeal this rule?

Rise Up!

Written on January 23rd, 2017 by Jamesno shouts

NFC Champs!  Nice to have our home team going to the Super Bowl.

Filed under Personal Finance Tags:

What is a Fiduciary?

Written on January 5th, 2017 by Jamesno shouts

Filed under Personal Finance Tags:

Last minute tax deductions for 2016

Written on December 15th, 2016 by Jamesno shouts

You’ve got 2 weeks remaining in 2016, here is a quick checklist of ways to reduce your taxes:

  • max out your 401k ($18,000 + $6000 if over age 50)
  • max our your HSA if you have a High Deductible Health Plan ($6750 for families / $3350 for singles)
  • do you have any investment losses in a taxable account?  Sell now and deduct up to $3000

And don’t forget about Itemized Deductions on your Schedule A form, plan ahead and get more deductions:

  • Medical/Dental Expenses:  keep track of your out of pocket expenses.  If over 10% of Adj Gross Income you can deduct.
    • Long Term Care premiums can be included in this
  • State Tax or Sales Tax (you choose which one to deduct)
  • Personal Property Tax
  • Real Estate Tax
  • Mortgage Interest
  • Mortgage Insurance (PMI – deductible for some income levels)
  • Mortgage Points/Loan Orig fees (basically prepaid mortgage interest can be deductible)
  • CHARITABLE – big one you can do in the next two weeks
    • Cash donations to qualified charities are deductible (keep records and written verification from charity)
    • Non Cash Donations (donating household items to your favorite charity thrift store or qualified charitable institution)
      • < $250 just need to record name of organization and description/value of property
      • $250 to $500 need above + receipt from organization
      • $500 to $5000 have to list more details with tax return including form 8283, still very easy
      • >$5000 you will need to have an appraisal of the property.
  • Misc Itemized Deductions (may or may not be subject to 2% AGI threshold) :
    • Investment expenses and fees + some legal expenses
    • unreimbursed employee expenses
    • Job search expenses
    • Job related education
    • work uniforms (some restrictions here)

normally don’t trash competitors but……..

Written on December 7th, 2016 by Jamesno shouts

I think this says enough about the financial services industry:  http://www.marketwatch.com/story/merrill-lynch-brokers-must-refer-2-customers-or-face-pay-cut-2016-12-07?mod=mw_share_twitter

Filed under Personal Finance Tags:

Retirement Minute Episode 15: Social Security & Medicare 2017 increases

Written on November 29th, 2016 by Jamesno shouts

Medicare increases for 2017

Written on November 15th, 2016 by Jamesno shouts

Forbes has a good summary on the medicare premium increases for 2017:  http://www.forbes.com/sites/ashleaebeling/2016/11/14/medicare-part-b-premiums-will-top-10000-a-year-for-high-income-senior-couples-in-2017/#4011937940b3

How to see everything Google knows about you

Written on November 8th, 2016 by Jamesno shouts

An interesting post from Clark Howard’s website on Google’s My Activity page:  http://www.clark.com/google-my-activity-data-dashboard-delete?utm_campaign=trueAnthem:+Trending+Content&utm_content=5821747304d3014e53b2b514&utm_medium=trueAnthem&utm_source=twitter

Filed under Miser Tip, Personal Finance Tags:
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