Capital Gains Tax

April 27th, 2012 | Posted by TRAVIS T SICKLE, CRPC®, AAMS® in Financial Planning | Investments | Retirement Planning - (0 Comments)

An important part of the current national economic debate is tax policy. This debate affects not only what you pay every April, 15th but what services you can expect from the government and how income earned from investments is taxed.

One of the biggest aspects of the debate is the Capital Gains Tax. This is the tax rate at which most investment income is taxed. It is currently around 15% (this is the most cited number though different situations can lead to variable rates). Some people claim raising this tax will make the tax system more equitable because mainly wealthy people pay this tax and it is much lower than the highest income tax bracket. Other say this discourages investments and penalizes the successful. Both theories have merit and it will be up to voters to decide come November. Make sure you discuss capital gains taxes with a wealth manger because they way investments are timed and organized affects the rate at which you are taxed. A wealth manager will also be able to help you understand any changes to the system that may occur in the next election cycle.

A wealth manager can also help you find tax breaks for your investments and other income. It is your job as a voter to help decide which tax policy is most favorable but it’s a wealth manager’s job to get you the highest return regardless of tax policy.

 

Please consult a qualified tax advisor for tax related questions.

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Political Fortunes Rise and Fall with the Economy

February 27th, 2012 | Posted by Sickle Hunter in Financial Planning | Investments | Retirement Planning - (0 Comments)

wealth mangerPolitical success and economic well being are joined at the hip. Historically, the economic state of the nation (and who gets the blame or credit for it), is a good political barometer. It is hard to unseat a president or change a congressional majority in a boom time.  Political experts on both sides of aisle are saying the Obama’s re-election (and that of many democratic Congress men and women), is going to have a lot to do with the state of the economy come November.

Although fiscal policy changes every four to eight years, sound financial planning does not. Good savings practices and sound investment are not tied to the fickle political trade winds of the day. Wealth management firms can help you plan for a future where you are living comfortably no matter which party is in the White House.

If you are uncertain about the future, you should consult a wealth manger. You cannot determine who runs the country (you can put your 2 cents in by voting on November 4th), but you can certainly determine your economic future. A well established financial plan means you will be prepared to weather another recession, rising healthcare and retirement costs, and just about anything else the financial world can throw at you.

 

 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Independent Financial Partners, a registered investment advisor and separate entity from LPL Financial.

 

 

 

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Florida and the Election

February 7th, 2012 | Posted by Sickle Hunter in Community and Events | Financial Planning - (0 Comments)

financial advisors TampaPolitical strategists for both parties are stressing the importance of Florida in this election. Florida was the deciding factor in the 2004 election. Florida along with Ohio, Nevada, Michigan, and a few other swing states, is going to be the deciding factor in this year’s presidential election. Mitt Romney’s victory in the Florida Republican Primary helped his campaign immensely.

Florida is also a state with a unique constituency and economy. The bursting of the housing bubble affected Florida residents harder, and has led to massive job losses in construction, real estate, and related fields. Many people are consulting a wealth manger to find out how much their house may be worth down the line. They need a backup plan if the housing market does not recover.

Financial advisors Tampa can give you the inside scoops on Florida’s unique economy.  They can give you advice to protect and build your wealth no matter what the election results or economic data; don’t think you are doomed because your house has been devalued. It is a setback, but with financial planning you can get yourself back on track fiscally.

It is going to a close election with both parties pandering to Florida voters. Administrations come and go, but sound financial advice lasts a long time.

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Roth IRA or Traditional IRA?

December 22nd, 2011 | Posted by Sickle Hunter in Financial Planning | Retirement Planning - (0 Comments)

Are you considering starting a Roth IRA? Between Roth IRA’s, traditional IRA’s, Roth 401(k)’s and other financial plans it can be hard to know which retirement plan is right for you. If you are starting to save for your retirement you want to make sure that you are using the plan that will be most beneficial to you.

A wealth manger can explain to you all the pros and cons of IRA’s and other retirement plans. Each plan has a complex set of rules regarding how it is taxed, when money can be withdrawn, and the kinds of investments that it can be comprised of. Without a trained professional to help you understand the ins and outs of IRA’s you may find yourself in a bad position down the line. You are going to be paying into this plan every month so you don’t want to find yourself penalized or taxed unnecessarily.

Even if you do choose the right plan, the laws, regulations, and taxes on IRA’s are changing constantly. As congress enacts new laws and you move to different age or income brackets your IRA may be subject to changes. A wealth manger can keep you informed as IRA regulations change.

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