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 need to make quarterly estimated tax payments. For more information about adjusting withholdings or other tax issues, consult a tax professional in your area or see IRS Publication 505, “Tax Withholding and Estimated Tax.” Tip courtesy of IRS.gov
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 managers did a good job of setting the bar low. There are also plenty of revenue surprises from firms that saw more demand than expected. Though it’s disappointing to see another quarter of negative growth, the picture for U.S. firms appears to be improving. Revenue growth is tracking above what we […]
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 in a hospital or skilled nursing facility, some home health care, and hospice care. Part B is medical insurance that helps pay for visits to doctors and other healthcare providers, outpatient care, some home health care, durable medical equipment, and some preventive services. Part C Medicare Advantage (MA) plans are approved third-party […]