Your wealth manager should be on the leading edge of every facet of your financial life, anticipating your needs and helping you create an investment strategy to achieve your goals. CFA charterholders blend intellectual curiosity and expertise to deliver premium advice. They are the difference you need. Here’s why:
Tax returns must be submitted by April 15th this year. Filing form 4868 will extend the due date up until October 15, 2019.
A 90-second read by Anthony Benante: The first thing you need to do to see if you qualify for financial aid is fill out the FAFSA form: In order to apply for financial aid, you must complete the FAFSA (Free Application for Federal Student Aid) form. There are certain criteria to first apply for financial aid – Go to the Federal Student Aid website – https://studentaid.gov/h/apply-for-aid/fafsa to see that you meet all required criteria to apply.
A 60-Second Read by Anthony Benante, CFA: Though everyone’s financial situation, or what we call your personal economy, is different, developing the right investment strategy starts with identifying your risk profile. To do this you need to determine your willingness to take risk and your ability to take risk.
One of the easiest ways to gift money to a charity in your estate plan is to name the charity as a beneficiary on your IRA or 401(k). Upon your death, the beneficiary designated on an IRA or 401(k) will receive their percentage of the assets very quickly. In addition, the designated beneficiary is independent of the will.
You will receive a form 1099-R if any money has been moved out of a retirement account. How much you will pay in taxes will depend on how the money is moved. You want to make sure any movement out of a retirement account is done properly, and the correct code is applied when you file your taxes. The code will appear in box 7 of the 1099-R.
Would you start building a house without a plan? Many investors are missing a clear and defined plan to guide their financial planning and investment decisions.
New Jersey is certainly not known as a “tax-friendly” state. However, the garden state has a much lower threshold on medical-expense deductions than the federal government. New Jersey allows certain non-reimbursed medical expenses to be deducted after they exceed only 2% of your gross income.
You may have a stock in your brokerage account that has a very large gain since you originally purchased it. If you were to go and sell the stock, outside of a retirement account, you would pay taxes on the profit you made on the investment. This is called a “capital gain”.
If you are the owner of an IRA (Individual Retirement Account) you may be aware that at age 73 (or 75, depending on your birth year), you are required to withdraw a small portion of your account and pay taxes on the amount withdrawn.
For many of us, our four-legged companions have become a part of our families. Perhaps you have thought about whether pet insurance is something you should consider for your pet, but don’t know much about it.
The Five Star Wealth Manager award, administered by Five Star Professional, recognizes professionals in the financial services industry who are committed to excellence. Baron Financial Group is proud to announce that Principals Victor Cannillo and Anthony Benante are recognized as 2019 Five Star Wealth Managers in New Jersey.