Prevent Tax Time Surprises With a Summer Adjustment “Prevent Tax Time Surprises”, If you’re putting your home on the market, you may be able to avoid paying taxes on some of your capital gains. Here’s what IRS regulations say:When filing their taxes, many taxpayers are surprised by unexpectedly large tax bills or refunds. Take the time this summer to adjust your with holdings to bring your estimated taxes in line with what you actually owe. If you are still working, speak to your tax advisor or use the online IRS Withholding Calculator to confirm that your employer is withholding the correct amount from each paycheck. New jobs or important life events like marriage or the birth of a child can trigger changes to your withholding. If you receive significant income that’s not subject to withholding (such as investment or rental income), work with a tax advisor to determine whether you […]
What?!?! Never Retire?? Do you dream of retirement? Is it even possible? Justin Goodbread, CERTIFIED FINANCIAL PLANNER™, Wealth Manager, and Investment Advisor Representative answers a client question on the subject. Heritage Investors, located in Knoxville Tennessee is a different type of financial advisor firm. Enjoy this Client Question of the week. Heritageinvestor Planningisfun Does the video given above gives you goosebumps? I am sure it must give you some goosebumps. If you like this video then please don’t forget to share it with others. Stay connected with me for more cool tips for your financial improvements and also thanks for watching the video.
S&P 500 Closes at Another New Record WEEKLY UPDATE – JULY 25, 2016 Stocks ended a fourth straight week of gains, sending the S&P 500 index to another record high. For the week, the S&P 500 gained 0.61%, the Dow grew 0.29%, the NASDAQ added 1.40%, and the MSCI EAFE closed flat. Second-quarter earnings season is in full swing, and the picture thus far is much like that of the last four quarters: uninspiring performance eked out on very little revenue growth. However, there are some encouraging signs that could presage better performance in the months to come. As of July 22nd, we have data from 126 S&P 500 companies, accounting for almost one-third of the index’s total capitalization. Overall Q2 earnings for these companies are down 1.1% from the second quarter of last year on 2.6% lower revenues. However, over 70% have managed to beat earnings estimates, indicating that […]
Medicare is complex and today’s changing healthcare landscape makes it more important than ever to fully understand how it works. If you or someone you know is near retirement, you may have questions about how to enroll in Medicare and what Medicare covers. Here are answers to some common questions about Medicare that can help you understand your options and avoid costly errors or gaps in coverage. Questions About Medicare? 1. What does Medicare cover? Medicare is a national health insurance program that helps with the cost of health care but doesn’t cover all medical expenses or long-term care. Though Medicare may cover many of your health-related expenses in retirement, it’s important to think ahead about whether you need to buy a Medicare supplement policy or Long-Term Care policy to help cover additional costs. Medicare consists of four parts: Part A is hospital insurance that helps pay for inpatient care […]
What U.S. Investors Need to Know About Brexit Hey Guys, this is Justin Goodbread, Certified Financial Planner and Co-CEO of Heritage Investors with a special edition video update on Britain’s recent vote to exit the European Union. With all of the market turmoil, we felt this was a good time to reach out and share our perspective. Please stay tuned at the end for a required disclosure statement. We’re going to answer five main questions in this call: What is the Brexit, and why does it matter? How could the Brexit affect U.S. markets? What impact could the Brexit have on the global economy? How could the Brexit affect the U.S. economy? And what should investors be doing right now? So, let’s start by taking a step back and asking: How did Britain get here? To answer that, we have to go back in time and take a look at […]
Selling Your Home? If you’re putting your home on the market, you may be able to avoid paying taxes on some of your capital gains. Here’s what IRS regulations say: If you show a capital gain on the sale, you may be able to exclude it from your taxes if you have owned and used it as your main home for at least two out of the last five years. You can exclude up to $250,000 (or $500,000 for joint filers), and the Net Investment Income tax will not apply to the excluded gain. You can exclude a gain from the sale of your main home only once every two years. If you claimed the first-time homebuyer credit, special rules may apply to the sale. For more information about tax issues relating to real estate, consult a tax professional in your area or refer to IRS Publication 523, “Selling Your […]