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Review Category : Investments

The One Time 10% Tax You Should Know

Many Americans are wondering how the President Elect Trump tax plan will affect the type of mutual funds and ETF’s that they buy going into 2017.    One of the items bandied about in a serious way by President Elect Trump is to bring in trillions and trillions of dollars by repatriating money from companies’ accumulated offshore earnings through a one-time 10% tax to bring those dollars back to the United States.   This tax is a substantial reduction from the current 35%, which would mean a massive tax save to large corporations. The thought process behind this strategy is to get some 2.6 trillion dollars (source Joint Committee On Taxation) back into America.  If that money is returned into the hands of many large U.S. Multinational corporations, the philosophy is that jobs would follow quickly behind this influx of money and perhaps a throwback to the heydays of manufacturing. However, the capital influx could heavily influence where you invest your money ...

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One BIG 2017 Georgia 529 Plan Change For College

As the cost continues to rise for college education, the state of Georgia is stepping up for the residents of Georgia and offering a new increased tax deduction that can really help Georgia taxpayers. All Georgia single taxpayers may deduct up to $2,000 each year on behalf of any beneficiary regardless of their annual income. Beginning with returns filed in 2017, all Georgia joint taxpayers may now deduct up to $4,000 each year on behalf of any beneficiary regardless of their annual income. Please note that a transfer of funds from another state’s 529 plan is not eligible for the Georgia income tax deduction. Georgia tax forms refer to the Path2College 529 Plan as the “Georgia Higher Education Savings Plan” (GHESP); the Path2College 529 Plan is established by the GHESP. Contributions made during the tax year, or before the following year’s federal tax filing deadline are eligible for the deduction. State tax benefits offered in connection with the Path2College 529 ...

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VIDEO: How Millennials Can Retire With A Million Dollars

Nearly two-thirds (64%) of working millennials say they will never accumulate $1 million in savings over their lifetime, according to the Wells Fargo Millennial Study. Six in ten (59%) of millennials have started saving for retirement, whereas 41% have not. Of the millennials who are not saving for retirement, 64% say they are “not making enough money to save for retirement.” The Wells Fargo Millennial study was conducted by GfK and surveyed over 1,000 U.S. adults between the ages of 22 and 35, with an additional oversample of 500 Hispanic millennials for comparison purposes. (source:wellsfargo.com)…. Read Full Article at: http://bit.ly/2eXvvpM ...

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Be Careful About “Washing” Out Your Tax Losses

With more investors trading stocks as a hobby and the number of day traders who have decided to take over their own portfolios, it is incredibly important that you recognize one little nasty piece of the tax code that can hurt you called the wash rule. The wash rule was set up to more closely define how tax losses can be taken for the short term trading of the same securities.   If an individual decided to sell or trade a security they own at a loss and within 30 days of the sale buys a substantially identical stock or security (or an option) their tax losses may be disallowed.  Remember, the rule can also apply if your spouse buys a substantial amount of the security as well. In our current tax code, the wash sale can affect your personal finances with the following consequences. You will not be able to “realize” or claim, the loss on the sale The disallowed ...

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Where To Invest Under A Clinton Presidency

As I shared a few months ago, Americans aren’t quite sure what to make of this three ring circus we are calling a Presidential election.   With the two candidates in the throes of back and forth debates, the stock market has seen its share of nervous jitters going up and down almost in yo-yo like fashion.   What will happen with the markets if Hillary Clinton is elected President nobody knows for sure, but here are some potential smart money moves to be considering if Clinton becomes POTUS.   Will she borrow more money?  Will she change Obamacare to Hillarycare?  Will she build a wall? Will she bring jobs back to America? Infrastructure – While I cannot give you specific stocks, mutual funds, or exchange traded funds (you’ll have to call me or e-mail me for that info;), I will divulge that one of the best opportunities under a Clinton presidency will be US infrastructure. Consider this for a  . . If ...

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Is It Time To Fed Proof Your Portfolio

We are all witnessing the antics of the Presidential election that we see and hear in the media every day.   The Fed recently chose not to raise rates again recently and we don’t know if they will do it in September, December, or not at all this year.   However, when rates rise you will want to be prepared on what to do with your portfolio, so here are my tips on money moves to consider. Consider Locking In Rates While They Are Low If you have benefited from having a low adjustable rate mortgage over the past five or six years, you might want to consider locking into a 15 year or 30 year fixed rate mortgage while rates are low. This would prevent you potentially getting hurt if you plan to live in your property for a long period of time and you expect the Fed to raise rates. Also, you might want to make a long term real ...

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How Millennials Can Retire With A Million Dollars

Nearly two-thirds (64%) of working millennials say they will never accumulate $1 million in savings over their lifetime, according to the Wells Fargo Millennial Study. Six in ten (59%) of millennials have started saving for retirement, whereas 41% have not. Of the millennials who are not saving for retirement, 64% say they are “not making enough money to save for retirement.” The Wells Fargo Millennial study was conducted by GfK and surveyed over 1,000 U.S. adults between the ages of 22 and 35, with an additional oversample of 500 Hispanic millennials for comparison purposes. (source:wellsfargo.com). We originally started oXYGen as an XY company, so it is only fitting that we help this 64% with five key money tips on how to retire with a million dollars. Be An Avid Bill Shopper First and foremost, make sure you shop your student debt which will likely be the number one initial inhibitor to long term wealth building. Make sure first, that if ...

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Do You Need An LLC For Your Rental Property?

With interest rates continuing to hover around record low rates, Gen X’ers and Baby Boomers are swallowing up investment properties all around the United States.  Even though last week an article came out from the N.Y. Times that home ownership is down to a record low of 62.9% (which is the lowest in fifty years), the developments being built around your neighborhoods seem to continue to sell at a record rate. One of the main questions we get all the time from people who buy investment real estate or rental properties centers around whether to hold the property individually, hold it in an LLC, and whether or not you need a separate company if you plan to manage these properties on your own. Let’s go through an example of why you might want to have an LLC.  You have a tenant who has rented your property up on the lake this summer.   They decide to bring a few friends out ...

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Ted Jenkin Talks Investments

– Ted Jenkin | Atlanta Money Guy Topic: Ted Jenkin from Oxygen Financial stops by to try and help Bailey with his “oil in Tennessee” investment! Taped 8/9/16 Listen every Tuesday morning at 8:00 a.m. on ROCK 100.5 | Atlanta’s Rock Station to “Your Smart Money Moves” with The Rock 100.5 Morning Show and oXYGen Financial. Ted Jenkin, CFP® and Kile Lewis, CRPC® are the founders of oXYGen Financial, and our chief financial officers. All your money questions answered Breathe Easier with oXYGen Financial: http://www.oxygenfinancial.net ...

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Talking About Lottery Winnings

– Ted Jenkin | Atlanta Money Guy Topic: Talking About Lottery Winnings Taped 7/05/16 Listen every Tuesday morning at 8:00 a.m. on ROCK 100.5 | Atlanta’s Rock Station to “Your Smart Money Moves” with The Rock 100.5 Morning Show and oXYGen Financial. Ted Jenkin, CFP® and Kile Lewis, CRPC® are the founders of oXYGen Financial, and our chief financial officers. All your money questions answered Breathe easier at http://oXYGenFinancial.net ...

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