Author - Kevin F. Jacobs, CFP®, EA

1
Lessen Anxiety, Build Confidence, And Achieve Security
2
Avoid These Common Tax Filing Mistakes
3
How To Reduce Your Tax Liability
4
Why It Matters How Your Advisor Gets Compensated
5
What Makes a Fee-Only Advisor Differnet?

Lessen Anxiety, Build Confidence, And Achieve Security

Greetings, from the end of summer! It sure doesn’t feel like the end of summer with this weather, but with the academic year starting up again, offices coming out of summer hours, and the suits and ties coming back out it must be happening anyway. I’ve noticed the “end of summer” atmosphere here at Step By Step, too, with clients checking in on their financial progress and calling, ready to take the next step.

Their friends have been calling, too. Personal referrals are the absolute best compliments I can receive, and I’m glad to speak with those who are interested …

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Avoid These Common Tax Filing Mistakes

I find three of the most common “do-it-yourself” tax preparation mistakes include capital gains, business asset depreciation and  rental home cost basis.

Many people do not know the  difference between short-term (1 year or less) and long-term (1 year and 1 day+) capital gains tax treatment.  I have met individuals who had to pay more in tax then necessary because they sold their asset within a day or two of it becoming a long-term asset.  Knowing the difference between short-term and long-term capital gains can save you up to 20% or more on your federal return.  If you receive …

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How To Reduce Your Tax Liability

Many people fail to plan when it comes to taxes.  You can save significant amounts of money regarding your tax liability if you are willing to be plan.  Below you will find some proactive tax planning strategies:

1.  Learn the range for the marginal tax brackets.  You can find these at http://taxes.about.com/od/preparingyourtaxes/a/tax-rates_2.htm.  With some planning, you may be able to reduce your taxable income so as to be taxed at a lower marginal rate.

2.  Evaluate your investments and make sure you not only have them allocated appropriately, but also determine if they are in the most tax-efficient vehicle.  …

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Why It Matters How Your Advisor Gets Compensated

I get asked a lot of times what is a “fee-only” advisor and why should I work with one?  Let me answer these frequent questions.  First, a fee-only financial advisor’s compensation comes directly from the client.  The advisor does not receive any commissions or referral fees from selling financial products, such as annuities, insurance and investments.  A fee-only advisor may receive compensation from assets under management, retainer fees or an hourly rate.  I focus the majority of my business on retainer fees, however, I do some minimal pay per hour projects.

For information sake, a “fee-based” advisor receives compensation from …

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What Makes a Fee-Only Advisor Differnet?

I am frequently asked:  what is a “fee-only advisor” and why should I work with one?  First, a fee-only advisor’s compensation comes directly from the client.  The advisor does not receive any commissions or referral fees from selling financial products (such as annuities, insurance or investments).  A fee-only advisor may receive compensation from assets under management, retainer fees or an hourly rate.  I focus the majority of my business on retainer fees.

In contrast, a “fee-based” advisor receives compensation from both charging a fee for completing a financial plan and from commissions on the products recommended as part of the

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