Buying a home can be a major expenditure. Fortunately, federal tax benefits are available to make homeownership more affordable and less expensive. There may also be tax benefits under state law. Mortgage interest deduction One of the most important tax benefits of owning a home is that you may be able to deduct any mortgage […]
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Is Smart Beta a Smart Strategy for You?
Traditional investment indexes such as the S&P 500 are weighted based on market capitalization, the value of a company’s total outstanding stock. This means the largest companies in the index may have much greater influence on index performance than smaller companies. For example, the 10 largest companies in the S&P 500 account for more than […]
What Do Bond Rating Agencies Use?
Bond rating agencies typically use similar scales, and it may be helpful to understand how to compare ratings from multiple agencies. This chart compares bond ratings in descending order of creditworthiness (from left to right) as judged by the three best-known credit agencies. Standard & Poor’s and Fitch Ratings use the symbols + and – […]
What are Bond Ratings?
Bond ratings are an essential tool when considering fixed-income investments. Ratings provide a professional assessment of credit risk, or the risk of default, which can be measured to some degree by analyzing the bond issuer’s financial condition and creditworthiness. Credit rating agencies perform this type of analysis and issue ratings that reflect the agency’s assessment […]
Spring Cleaning Your Finances
The arrival of spring often signifies a time of renewal, a reminder to dust off the cobwebs and get rid of the dirt and grime that have built up throughout the winter season. And while most spring cleaning projects are likely focused on your home, you could take this time to evaluate and clean up […]
Converting Retirement Savings to Retirement Income
Regardless of which path you choose with your retirement accounts, keep in mind that generally, you’ll be required to begin taking minimum distributions from employer-sponsored plans and traditional IRAs in the year you reach age 70½; you can delay your first distribution as late as April 1 of the following year. Taxable distributions from traditional […]
Four Ways to Double the Power of Your Tax Refund
The IRS expects that more than 70% of taxpayers will receive a refund in 2017.¹ What you do with a tax refund is up to you, but here are some ideas that may make your refund twice as valuable. Double your savings Perhaps you’d like to use your tax refund to start an education fund […]
What are some tips for creating a home inventory?
Imagine having to remember and describe every item in your home, especially after you’ve been the victim of a fire, theft, or natural disaster. Rather than relying on your memory, you may want to prepare a home inventory — a detailed record of all your personal property. This record can help substantiate an insurance claim, […]
How can I prepare financially for stormy weather?
Floods, tornadoes, torrential rain, lightning, and hail are common events in many parts of the country during the spring and may result in widespread damage. Severe weather often strikes with little warning, so take measures now to protect yourself and your property. Review your insurance coverage. Make sure your homeowners and auto insurance coverage is […]
Why a Life Insurance Claim May Be Denied
As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications. Any guarantees associated with payment of death benefits are based on the claims-paying ability and financial […]
