Many of you who have mutual funds in a brokerage (taxable) account are about to get a nasty surprise – a big 1099 which will result in your having to pay taxes. In mid December many mutual funds “paid out” taxable gains to shareholders (this does NOT apply to IRA’s, 401(k)’s and other tax-deferred accounts). You didn’t get a check – but you DID get a taxable distribution. And you may even get a tax bill on “gains” — even if your fund lost money in 2014. … Continue reading
Mutual fund owners to get BIG tax hit!
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Is the market really at all time highs?
If you have a portfolio, you might find this message and the accompanying chart (SEE BELOW to view) interesting. Yes, the S&P 500 has made a number of new all-time highs in recent weeks and has earned 11.27% year to date (YTD) But most folks don’t invest ONLY in the S&P 500. They also invest in various types of bonds, small US stocks, international stocks, commodities (gold, oil, etc.) and so on for a diversified portfolio. I’ve attached an image YTD comparison of various index returns … Continue reading
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Tagged diversified portfolio, YTD S&P 500 returns
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Updated 2015 Tax Brackets and Rates
I am updating my Social Security book for 2015 and am using this new tax chart as part of the revisions, and thought you might like to see it as well. If you CLICK BELOW, you can see the 2015 tax chart. You might also want to know that that the personal exemptions have increase $50 to $4,000 and that the standard deductions (for those of you who do not itemize) have risen slightly to $6,300 and $12,600 for single filers and married filing jointly respectively) too. For … Continue reading
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Report your life changes to the Social Security Admin
Most people don’t know this, but I wanted to make sure that you know that it’s our responsibility to report your life changes to the Social Security Admin. It can save you… or someone that you care about lot’s of problems later on. For example, I’ve heard of cases where clients failed to report a remarriage and later had to repay all of the divorced-spouse benefits they received and were not entitled to. And for clients receiving SS benefits before their full retirement age (FRA), it is very important … Continue reading
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Tagged Social Security, Social Security retirement benefits
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Social Security checks. What’s the 2015 COLA?
The Social Security Admin. has just announced that the nation’s 63 million Social Security recipients will get a 1.7% cost of living increase for 2015. The increase will take effect in January. The 1.7% boost means the average retiree will see a $22 increase to $1,328 a month and the average senior couple will get a $36 “raise” to bring themto $2,176. I don’t know about you… but my “inflation” last year seemed to be a lot more than 1.7%! Those not … Continue reading
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