Author Archives: David
Making tax-free transfers from your IRA to a charity
In 2011, there was a provision in the law which allowed one to make direct transfers from one’s IRA to a charity. By doing so, one could satisfy his RMD requirements while avoiding paying taxes on that transfer. Moreover, it was a better tax break than if you’d taken the distribution in cash (taxable income, […]
Ultra-Short Summary of American Taxpayer Relief Act of 2012 (HR8 as amended by the Senate)
American Taxpayer Relief Act of 2012 (HR8 as amended by the Senate) The first two items below directly affect nearly every taxpayer. The third affects anyone with earned income, and the fourth affects every married couple. The rest are much narrower in scope (ie. highest income folks, large estates, etc): All Bush-era tax rates made […]
2012 Year-End Special Report: Charitable Gifts, Medical Expenses, Capital Gains, ObamaCare and Other Tax Uncertainty
2012 Year-End Special Report At year end, traditionally, financial planners recommend to clients to consider doing things like accelerating tax deductions such as charitable gifts, and doing capital-gains management in their investment accounts such as tax-loss harvesting. With the impending new ObamaCare taxes, and the potential expiration of the Bush-era tax cuts, these issues have […]
Originally posted on Kimberly J. Howard, CFP® Blog:
‘Cash is king’ is the catch phrase used by financial advisors to encourage their customers to avoid borrowing and wise advice for many situations. There are several reasons why you might want to use a credit card this holiday season. One that many people are already aware…
Delaying the start of Social Security
Delaying the start of Social Security – potentially a fantastic deal [Note, this post is from our On The Spot newsletter. We publish it infrequently and strive to always include helpful, informative articles such as this one. Sign up here: http://www.meyersmoney.com/resources/special-reports/ and we’ll also send you a copy of our most recent “10 Things” special […]
RIP Warren Rudman, “the last American politician who could count”
RIP Warren Rudman. As a friend of mine pointed out, “the last American politician who could count”. From the NY Times article linked to below: In his memoir he wrote: “The Republican Party is making a terrible mistake if it appears to ally itself with the Christian right. There are some fine, sincere people in […]
Distinguishing Investment Management from Financial Planning
One of the things I found vexing about the financial planning business is the assets-under-management model. Most fee-only financial planners charge some percentage of the assets they manage, and for that payment, they will manage a portfolio of investments as well as provide comprehensive financial planning services. The vexing part is this: the fee they […]
Make the Most of Your First Meeting With a Financial Adviser
Wall Street Journal article published Monday, November 5, 2012: http://online.wsj.com/article/SB10000872396390443686004577635963452298248.html A really helpful article discussing what folks may expect at a first meeting with a financial adviser. Unfortunately, the article doesn’t shed very much light on some essential issues – the differences between a Registered Investment Adviser and a representative of a Broker/Dealer, for example. […]
5 Questions a Financial Planner should ask YOU
From Jacoba Urist at Today.com – http://lifeinc.today.com/_news/2012/10/14/14201615-five-questions-a-financial-planner-should-ask-you?lite Summary: 1. What is it you hope to accomplish by visiting a financial planner? 2. What is your current income and do you expect any changes to it? 3. Do you have a formalized household budget? 4. How involved would you like to be in the process? 5. […]
AMT Patch proposed for 2012 and 2013
“The Family and Business Tax Cut Certainty Bill of 2012 (Sen 3521 ) would patch the alternative minimum tax (AMT) for the 2012 and 2013 tax years for an estimated revenue loss of $132.2 billion.” Full text of the bill: http://www.govtrack.us/congress/bills/112/s3521/text It also extends several other popular tax provisions: the deduction for teachers who buy […]
Meyers Wealth Management 