Financial Matters

Tips and news from the financial experts at Attentive Investment Managers.
Apr
08

Financial Literacy #5: Non-Retirement Investment Strategies

Older couple outdoors

Have you invested for retirement? Do you have extra cash flow? After you’ve built up a solid retirement base, here are some other strategies to consider:

Individual or joint accounts

General investment accounts provide you with flexibility. Individual or joint accounts can help you save for your short, medium, or long-term goals and allow you to invest without the restraints of tax-deferred accounts. Withdrawals are penalty-free in the near-term, though you will pay taxes on dividends and capital gains.

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Jul
17

Withholding Changes

tax-withholding

The new tax law made it hard to know how much to withhold from your paycheck every few weeks. As a result, many people withheld less than they might otherwise have, and either received a smaller rebate than expected or had to pay additional taxes in April.

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Nov
28

Year-End Gifting

Year-End Gifting
A "gift" is any transfer of an asset for less than full consideration (usually no consideration). The annual exclusion (both per donor and per donee) is currently $14,000 per calendar year. There is no limit to the number of donee's that you can gift. While the gift is not taxable to the recipient, it is also not deductible (other than charitable gifts) by the donor. The recipient will take the "tax basis" of the donor for income tax purposes. If the $14,000 per year done rule is exceeded during the calendar year, a gift tax return (Form 709) should be filed by April 15th of the following year. No actual gift tax will be paid to the I.R.S. until the taxable portion of the gift(s) exceeds $1,000,000 per donor. Needless to say, this is a complex area and I recommend consulting a tax professional if contemplating gifts that exceed the $14,000 per year limit. 
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Due to renewed State orders for shelter-in-place we will be modifying our office operations. We will be suspending services at our physical office for the public. However, we are available to you via web meeting (zoom), email and telephone (Phone lines have been forwarded to our personal cell phones) during regular business hours. We will be able to fully service all your investment needs with no interruption.

You may drop contribution checks at our office through the mail slot or they may be mailed directly to TD Ameritrade (address listed below). Please be sure to notate your account number on the check.

TD Ameritrade
PO BOX 650567
Dallas, TX 75265-0567

Rest assured that we will continue to monitor your investments and market conditions on an ongoing basis with no interruption. Should you have any questions or concerns please feel free to contact us.

We will navigate this crisis as best we can, coming together and making shared sacrifices. We hope that we can help to slow down the effect of this virus together and solve this swiftly. We also wish everyone well and would like to extend our gratitude for your patience during these trying times. Continue to watch for updates from us.