Glide into Tax Season with Solid Financial Planning
(ARA) - With good planning, you can start the year off right by making sure you and your family are financially fit and ready for the new year, and possibly reduce your tax bill.
Here is a financial checklist to consider:Tap into the Power of Tax-DeferralIf you are thinking of investing in mutual funds for long-term or retirement savings, purchase a variable annuity.
You've got the 1099 forms for 2000 already from any mutual funds you own.
If you have a tax bill this year, you'll likely wait until April 15 to pay it, to give the money extra time to work for you.
What if you had the option to wait 10 or 20 years to pay?
That's tax-deferral.
You control when you pay taxes on your money so you can get the maximum mileage out of your investment earnings.Variable annuities provide tax-deferred investments -- you pay no taxes on the earnings until you actually withdraw the money, and you receive no tax assessment during the accumulation phase.
You can also move money between the funds within your annuity without incurring taxes, and you can invest in VAs at any time without negative tax consequences.Many mutual funds pay taxable dividends and you will be taxed on any gains from stocks or funds sold during the year.
Keep in mind that variable annuities typically carry mortality and expense charges, administrative fees, and deferred sales charges that can reduce tax-deferred performance.
Withdrawals of the tax-deferred earnings are taxed as ordinary income, and surrender charges may apply, in addition to a 10 percent tax penalty for withdrawals before age 59 1/2.Protection for You and Your FamilyReview your insurance and savings plans, including homeowners, auto, life, health and disability insurance, retirement plans and investments to make sure you have done everything necessary to prepare for the future. Insurance protects against unforeseen events, such as storms, accidents, disability, illness or death.Check Your Reimbursable Medical and Child Care AccountsIf, by year-end, you haven't used all the dollars in a pre-tax medical or child care spending account, you could forfeit all the money remaining.
Near year-end, if you have money remaining, you may want to schedule an eye, dental or physical exam, or stock up on prescriptions.Put Your Bonus in Your Employer-Sponsored Pension PlanIf you haven't maxed out on your pre-tax contribution allowable (usually $10,500 per year for 401(k) plans), ask if you can put part, or all, of your bonus into that account.Maxed Out on Your Employer-Sponsored Pension or IRA?Consider a variable annuity. Only annuities can provide guaranteed income for life upon retirement, and many variable annuities offer flexibility and a wide choice of investment options, ranging from guaranteed interest accounts to aggressive investment underlying funds.
Guarantees are subject to the claims-paying ability of the issuing insurance company, so be careful to choose an insurer with a solid financial history.Consider Giving Away Some of Your MoneyA charitable contribution, such as to your church, alma mater or other worthy cause, can be tax deductible. You can also give away as much as $10,000 annually to as many people as you'd like without incurring the federal gift tax ($20,000 per couple). Consult a Financial PlannerIf financial planning is important to you, it may be worth your while to consult a financial planner to discuss strategies for saving taxes, maximizing your investments, and making sure you cover as many contingencies as possible.Using a checklist will help you achieve your goals of deferring income, accelerating deductions and taking advantage of tax credits.
Smart planning involves more than just reviewing the past year -- it means looking ahead to the next year as well..
Courtesy ARA Content, www.ARAcontent.com; e-mail: info@ARAcontent.comESPN To Broadcast Special On Jimmy V Celebrity Golf Classic
(ContentDesk) dECEMBER 20 2003--ESPN, a charter sponsor of the Jimmy V Celebrity Golf Classic, will air an hour-long special on the event on Sunday December 28 at 2:30 p.m. As a co-founder of the V Foundation for Cancer Research, the sports network has broadcast an hour-long special on the Classic each year.
The one-hour special will feature highlights from the weekend events, including the Pairings Party, V Gala and of course, the main event on Sunday.???"Each year, ESPN brings an entire production crew of 15-20 people to tape the Classic and all the weekend's activities," said Graham H. Wilson, president of PRStreet, Inc, the agency that handles the Jimmy V Celebrity Golf Classic.
"It is great national exposure for the Triangle and the efforts to raise funds for cancer research."The program will be broadcast worldwide to 133 countries in five different languages.
It will air again on ESPN2 on Tuesday December 30 at 11:00 a.m.About the Jimmy V Celebrity Golf...
ESPN To Broadcast Special On Jimmy V Celebrity Golf Classic
Hedge funds > ESPN To Broadcast Special On Jimmy V Celebrity Golf Classic
Car Donations
Copyright 2006 Dave Markel
Car donation is a noble and easy way to contribute towards human service.
You can sponsor a new car or donate a used car to an organization or charity group which works in the filed of social service.
Organization, use this car, either for community need or sell it for raising funds for their activities.
How to donate a car If you have decided to donate a car you must examine whether you fulfill the following conditions:
? You should have the clear title of the car.
? The car you wish to donate should be in running condition.
? You can donate any vehicle irrespective of its make, model and other condition.
After you are sure that your car is in good condition for donation, you can start your search for the possible organization of your preference.
You can look for such organization or charity group either in local media or on internet.
After you find the right...
Hedge funds > Car Donations
Do Commodities Belong In Your Portfolio?
Copyright 2006 Rafael Velez
Although it may sound frightening and risky to many investors, if handled correctly, commodities could be the missing piece of an investor's portfolio. What exactly are commodities? Commodities are any mass goods traded on an exchange or in a cash market including: cocoa, coffee, eggs, lumber, orange juice, soybeans and sugar just to name a few. Industrial metals are also included with copper, aluminum, zinc, nickel, silver, and lead ranking among the most popular industrial metals holdings.
Finally, the most widely followed commodities include oil, natural gas and gold.
The diversification benefits equal or surpass those of other asset classes like fixed income and real estate. The primary reason for this is their correlation, or lack thereof, to the stock market as represented by the S&P 500 (Correlation describes how similar the price movement is between two investments).
Commodities have historically exhibited...
Do Commodities Belong In Your Portfolio?
Hedge funds > Do Commodities Belong In Your Portfolio?
Growing Global 2005 to Feature Todd Buchholz, Former Director of White House Economic Policy
St. Louis (ContentDesk) August 10, 2005 -- Growing Global 2005, the region's premier international business luncheon, will feature Todd G. Buchholz, former White House economic advisor, network news analyst and best-selling author of the influential book "Market Shock" on Friday, September 23, 2005 in a special program at the Ritz-Carlton Hotel from 11:00 a.m.?1:30 p.m.World Trade Center Saint Louis will host Growing Global 2005, which is designed for top international executives, government officials and educators. The public is invited to attend this important annual event, which will focus on the U.S economy, overseas job outsourcing, international business and the impact of terrorism.Mr. Buchholz is a former director of economic policy at The White House who earned advanced degrees from Cambridge University and Harvard Law School.
He is a contributing editor for Worth magazine and contributes to The New York Times, The Wall Street Journal and Forbes.
Mr. Buchholz...
Hedge funds > Growing Global 2005 to Feature Todd Buchholz, Former Director of White House Economic Policy
Park La Brea Apartments, The Park La Brea Arts Council Team Up for 8th Annual Art in the Park Benefiting Camp Ronald McDonald for Good Times
LOS ANGELES, CA (ContentDesk) August 29, 2004 -- Park La Brea Apartments and The Park La Brea Arts Council will be holding the 8th Annual Art in the Park from 11:00 a.m. to 5:00 p.m. on Saturday, September 11 and Sunday, September 12 at Park La Brea Apartments, 6200 West 3rd Street.
The event will benefit Camp Ronald McDonald for Good Times, a cost-free sleep-away camp for children with cancer and their families.
The two-day event will be filled with world-class artists, live entertainment, a food court, a children's art workshop and special appearance by Ronald McDonald.
Admission, parking and shuttle service are all free.
For more event information, please call 323-525-1908."We are thrilled to be able to sponsor this fantastic cultural event once again for the community of Los Angeles," said Barbara Barsi, marketing director, Park La Brea Apartments.
"Most importantly, we hope to raise even more funds for the kids and families that look forward...
Hedge funds > Park La Brea Apartments, The Park La Brea Arts Council Team Up for 8th Annual Art in the Park Benefiting Camp Ronald McDonald for Good Times
Frederick LeeVic Hand Introduces Leevic Models & Entertainment - The Hot New Producer is Combining His Three Talents to Produce the Hottest Shows Ever
Frederick Leevic Hand, introduces Leevic Models & Entertainment the hot new producer that produces fashion shows and individual talent, is now through talking and letting his talent do the talk. The mission of leevic is to produce, direct or choreograph talent for fashion shows, indivduals or company projects. Frederick Leevic Hand, of Leevic knows first hand, that it takes talent and hard work to compete and survive in the entertainment industry. Frederick, is currently cast in the upcoming motion picture The System Within www.thesystemwithin.com that will start production this year of 2005. Also coming soon Leevic trucker hats and other Leevic merchandise.Everyone is encourage to join the message board to discuss issues that face the entertainment industry.
Keep visiting the website to get updated info.Leevic, is also the proud sponsor for (JDF) J Diabetes Foundation. The goal of this organization, is...
Frederick LeeVic Hand Introduces Leevic Models & Entertainment - The Hot New Producer is Combining His Three Talents to Produce the Hottest Shows Ever
Hedge funds > Frederick LeeVic Hand Introduces Leevic Models & Entertainment - The Hot New Producer is Combining His Three Talents to Produce the Hottest Shows Ever