There are several benefits involved when dealing with tax-loss selling, which is selling a stock that has lost value in order to realize a taxable loss. Losses can be used to eliminate both long-term and short-term gains. For more on tax-loss selling and an example of its benefits, read this C.P.A. Insight
Backing up vital information and data from your personal computer is important in the event your computer is stolen or destroyed. One way to back up personal data, such as pictures and files, is to store it on a removable hard drive. For more information and tips on backing up personal data and protecting your PC, read this Financial Strategy.
A Living Will is a document that expresses a person’s desires and preferences about medical treatment in case he or she becomes unable to make their own decisions. The difference between a Living Will and a Will is that a Will takes effect upon a person’s death, while a Living Will is used to protect assets that could be drained for medical expenses. For more on Living Wills, their benefits and the rules regarding their use, read this Financial Strategy.
Stock options have become a very popular way of compensating or providing added benefits to employees. Two types of stock options are Nonqualified Stock Options and Incentive Stock Options. Both options require proper planning and timing to minimize the tax consequences. For more information about income and stock options and to learn more about what each one entails, read this C.P.A. Insight.
Supply and demand tend to be the deciding factors to stock price fluctuations. However, the driving factor behind many investors’ decisions is conventional wisdom, or certain ideas or explanations that are generally accepted as true by the public. For more information on today’s market versus the idea of conventional wisdom, read this Investment Whys.
We define an investor as someone who invests for the long run–not someone who chases the market through excessive trading and market timing. At Henssler Financial, we follow a strategy called the Ten Year Rule; money needed within 10 years should be invested in fixed-income investments, while money not needed should be invested in growth investments. For more on the Ten Year Rule and how to plan for any kind of market, read this Investment Whys.
Awarding stock options has become a common employment incentive used by start-up companies or companies that are merging or buying other business. While stock options vary, the two most common types are Incentive Stock Options (ISOs) and Nonqualified Stock Options. For more information on your stock options and to discover which one is best for you, read this Investment Whys.
While you might dabble in real estate, you must be classified as a real estate professional before you can deduct job-related losses in full on your income tax return.
When you change jobs, it is generally a good idea to roll assets in your company-sponsored retirement plan into a Rollover IRA.
By adjusting how you allocate your savings for retirement, you are able to benefit the greatest from two of the most popular savings strategy plans, 401(k)s and IRAs. We suggest a savings strategy that is designed to maximize your after-tax return and investment flexibility. For more on savings strategies and how to determine the best amount to contribute, read this Financial Strategy.