Tax Matters

Capital Loss Tax Strategy Requires Planning

Just because a loss is sustained does not mean nothing can be recouped.  But investors should have the entire picture before making moves in this area. Monetary benefit comes from capital losses in the form of taxes you would have paid without those losses.  Figuring your tax rate is complicated.  But a lot of capital gains …

The Importance of a Good Accountant

Having a qualified tax advisor saves considerable trouble. When you are just starting out this is not something to be concerned with.  If all you have is a W2 and a couple of mutual fund 1099′s any number of freely available tax filing software programs will get the job done. Once you accumulate some assets …

Life is Easier when you Pay Your Taxes

Always make sure to file a complete return on time and settle the balance due.  I don’t say this because I am a fan of taxation.  It is simply better than the alternative. Investors need to be aware: your brokerage firm sends records of every taxable event to the IRS.  Until recently this did not …

IRA Accounts are Unsuitable as a Primary Savings Vehicle

It is a mistake to open an IRA before accumulating a significant level of savings first.  I have had two of them, both when I was just starting out, and they are both gone because I didn’t understand this idea. In the late 90′s a lot of talk about IRA greatness came my way, both …