Subscribe today to any of our informative email newsletters; eResources Review, Savvy Women & Money, Market Week. Get tips on 401K, Insurance, Taxes and Investing Planning and more. Plus a special whitepaper, "Transition to Retirement." View previous newsletters.
The "Weight Watchers" approach to financial planning. Every woman has gone on a diet at one time or another. Much of what we learn from dieting can be applied to a financially healthy lifestyle. Below are statements found on the Weight Watchers website as to why their program is different and successful. More
In this day and age investing is very complex. Having a professional on your team is essential. It can help you manage risk, and enhance expected performance. AMR's advisors can evaluate your goals and portfolio and advise you on how AMR's services can help you make the most of your finances. Let us show you how AMR can help. Click here to receive a complimentary consultation kit.
Tune in Saturdays at 3pm on WXTK 95.1 FM to Cape Cod's Financial Radio Talk show hosted by our own Chris Boyd, CFP® for entertaining discussions on all things financial. Phone the show with your questions at 508-771-8900. Sign up for our iTunes RSS feed Check out our latest podcast below.
While the Affordable Care Act (ACA) became law in 2010, several of the more substantive provisions of the law don’t take effect until 2014. Here’s a review of some of the key parts of the ACA that are scheduled to begin in 2014.
The ACA imposes a shared responsibility mandate, which requires that most U.S. citizens and legal residents of all ages (including children and dependents) have minimum essential health coverage or pay a penalty tax, unless otherwise exempt. The monthly penalty is equal to the greater of a declared dollar amount ($95 in 2014) or a percentage of the individual’s gross income.
Note: The employer’s mandate to provide coverage for employees was also scheduled to begin in 2014; however, the requirement will not be enforced until January 2015.
Today’s large gift tax applicable exclusion amount, low gift tax rates, depressed property values, and low interest rates create a favorable environment for making certain gifts.
Federal gift tax basics
Annual exclusion. Each year, you can give a certain amount ($14,000 in 2013 and 2014) to as many individuals as you like gift tax free.
Qualified transfers exclusion. You can give an unlimited amount on behalf of any individuals for tuition or medical expenses gift tax free. You must pay the amount directly to the educational or medical care provider.
Applicable exclusion amount. Gifts can also be sheltered by the applicable exclusion amount, which can protect gifts of up to $5,340,000 (in 2014, $5,250,000 in 2013). The dollar limit applies to all taxable gifts you make during your lifetime and to your estate at your death for federal estate tax purposes.Read More
As the end of the 2013 tax year approaches, set aside some time to evaluate your situation. Here are some things to keep in mind as you consider potential year-end tax moves.
1. The tax landscape has changed for higher-income individuals
This year a new 39.6% federal income tax rate applies if your taxable income exceeds $400,000 ($450,000 if you’re married and file a joint return, $225,000 if you’re married and file separately). If your income crosses that threshold, you’ll also be subject to a new 20% maximum tax rate on long-term capital gains and qualifying dividends (last year, the maximum rate that applied was 15%).Read More
Another week, another record: The Dow’s seventh consecutive week of gains ended with a close above the psychologically significant 16,000 level for the first time ever, while the S&P 500 surpassed 1,800 for the first time. Meanwhile, the price of the benchmark 10-year Treasury note fell midweek after minutes of the Fed’s most recent monetary policy meeting were released, but managed to regain some strength by the end of the week.
Chris is joined this week by Hilary Greene, Executive Director of the Cape and Islands Red Cross. They talk about the nomination process for the Heroes Breakfast, where the Red Cross recognizes local people who have acted selflessly. Chris also discusses the 50th anniversary of the Kennedy assassination, the Yellen nomination, year end tax tips and which deductions are about to expire, how to choose a financial advisor, and mortgage news with Mike Burton and the Slade Mortgage Minute.Read More