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Another year is nearly over, so it’s a good time to look at your investments and financial situation and consider some options for reducing your tax burden. Where should you look for tax savings? There are several areas to consider:
Take some losses in your portfolio. It’s no secret—this has been one of the worst years we’ve seen in the stock market for a long time. If you have some big losers in the portfolio, you might want to sell some of those stocks or mutual funds to take a loss which would help reduce your taxes.
Gifting appreciated assets. If you plan to make a donation to your favorite charity or place of worship, do it before the end of the year in order to claim it on your taxes for the current year. You can catch an even bigger break if you give an appreciated stock or mutual fund rather than cash. For instance, if you have a stock that you bought years ago for $5,000 and it is now worth $20,000, you can donate the $20,000 in stock to a qualified charity and get a tax credit for the entire sum without paying... MORE |
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| CLICK HERE to get your free copy of our 24-page retirement booklet, “Planning for Retirement – Strategies for Your Life, Your Finances, and Your Future”. In this booklet, you’ll learn more about strategies and options for your future. |
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CLICK HERE for your FREE Financial Review. Because we place such a high priority on mutual trust in our client relationships, we offer this free analysis to help us both decide if we are a good fit. |
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Financial Planning:
Positioning Yourself for Recovery
What can you do now to position yourself for a market recovery? Review your current overall allocation. With the decline in the market by almost 30% since January 1st... MORE |
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Tax Planning:
Tax Law Changes that May Impact You
The tax legislation passed as part of the economic rescue legislation was quite significant. In addition, there was another tax law change earlier in the year called the Housing... MORE |
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Mortgage Tips:
Buying a Vacation Home
There are two great reasons for buying a vacation home: You want one and you can afford to buy it. Buying a vacation home as an investment, however, should not be your primary... MORE
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Insurance Insights:
We Called Him Superman
Christopher Reeves was strong, powerful, and at the height of his career. Life couldn’t have been much better. He had a bright future, exciting career, and loving family. Who didn’t know... MORE |
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Investment Management Updates:
Annuity Q & A
We’ve received calls from clients in the recent weeks concerned about the safety of their variable annuities, in part fueled by the stock-market turmoil and the government rescue of... MORE
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Thoughts from Bruce Helmer:
Financial Resolutions for the New Year
The coming of a new year provides a good opportunity for you to take a fresh look at your financial situation. Doing so can ensure that the areas that are most important to you and... MORE |
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Sudoku Puzzle:
When you play sudoku you qualify to win a FREE $25 Gift Card for any participating T.G.I. Friday’s restaurant. This month's puzzle... MORE |
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Upcoming Events:
As most of you know, one of our main goals is to educate our clients and our community. We look forward to seeing you at an upcoming seminar... MORE |
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Minnesota: Blaine, Brainerd, Burnsville, Edina, Mankato, Oakdale, Plymouth, Rochester, St. Cloud, and Vadnais Heights
Iowa: West Des Moines – North Dakota: Fargo |
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