When it comes to structuring a tax-efficient investment portfolio, we believe it is important to consider “asset location.” That is—which types of investments should be held in which accounts? Conventional wisdom would reason as follows:
For the last several weeks, the media spent a great deal of time covering the fiscal cliff and the upcoming changes in the tax code. At the eleventh hour, Congress passed the American Taxpayer Relief Act of 2012 that seeks to solve some of the tax questions that have been hanging over our heads for the last several months.
The News & Observer recently interviewed Chip Hymiller, CFP® to ask his opinion about the Fiscal Cliff and what it could mean for investors. Click here to read his response.
The following question was posed to over 1,000 U.S. adults in a recent Gallup poll:
How much control – your ability to influence or impact – do you feel you have over your efforts to build and maintain your retirement savings in the current environment?
Improving financial markets have created a renewed interest in charitable gifting. One particular tool that can be very effective in helping you achieve your charitable objectives is a donor-advised fund.
How do you track the cost basis on investments held in your taxable portfolio? What portfolio accounting method does your broker, custodian or advisor report to you or your CPA? This is a decision that, for some investors, can save thousands of dollars in taxes and ultimately make a significant difference in a portfolio’s after-tax rate of return.
Roth IRAs are great savings mechanisms and can be used effectively for retirement and education planning. One of the less publicized advantages to Roth IRAs is that they can be a great estate planning technique when someone wants to pass along as much as possible to their heirs. (more…)
We often receive questions about how long certain financial records should be retained. The IRS, through Publication 552, offers some guidance with regard to recordkeeping for individuals. Their recommendations are based on the following deadlines: (more…)
This video discusses several important reasons why tax planning is such an integral component of the financial planning process.
With the belief that tax rates are likely to rise over time, many people are considering the merits of converting their traditional IRAs into Roth IRAs. The decision of whether or not to convert an IRA into a Roth IRA is a big one with far-reaching financial implications.