- Tax Planning
- Charitable GivingDonating Assets: Several tax strategies exist for charitable contributions. One method is to donate assets to charity. By doing this, you may be able to manage capital gains taxes and receive an income tax deduction for the full fair market value of the assets.
- Estate Taxes
- Tax Services
- Roth IRAA qualified retirement plan in which earnings grow tax deferred and distributions are tax free. Contributions to a Roth IRA are generally not deductible for tax purposes, and there are income and contribution limits. Roth IRA contributions cannot be made by taxpayers with high incomes. To qualify for the tax-free and penalty-free withdrawal of earnings, Roth IRA distributions must meet a five-year holding requirement and occur after age 59½. Tax-free and penalty-free withdrawal also can be taken under certain other circumstances, such as after the owner’s death. The original Roth IRA owner is not required to take minimum annual withdrawals.
- Tax DeductionsAn amount that can be subtracted from a taxpayer’s income before taxes are calculated. Taxpayers may use the standard deduction or may itemize deductions if allowable itemized deductions exceed the standard deduction.
- Income TaxMillions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you.
- Capital Gains Taxes
- Investment Management
- Mutual FundsA mutual fund offered by an investment company that specifically pursues substantial capital gains. Mutual fund balances are subject to fluctuation in value and market risk. Shares, when redeemed, may be worth more or less than their original cost. Mutual funds are sold only by prospectus. Individuals are encouraged to consider the charges, risks, expenses, and investment objectives carefully before investing. A prospectus containing this and other information about the investment company can be obtained from your financial professional. Read it carefully before you invest or send money.
- Bonds
- Wealth ManagementEric is the President of Comprehensive Financial Associates, where he manages the firm’s advisors and provides wealth management to clients. He has been in the financial services industry his entire career and fell in love with financial planning right out of college. He loves working with his clients, learning more about the industry, and helping companies with their qualified retirement plans. He works hard to motivate his clients and cares about the work he does for them. He considers himself a teacher, guide, counselor, and friend for both his clients and his advisors. His personal mission is to get a little better every day and he does this through his work at the firm.
- Money Market FundsAssets that are most easily converted into cash and which have a very low risk of price fluctuation. For example, money market funds may be considered a cash alternative. Money held in money market funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Money market funds seek to preserve the value of your investment at $1.00 a share. However, it is possible to lose money by investing in a money market fund.
- Accounting Services
- Financial PlanningWe offer comprehensive financial planning and personalized retirement plans, but we also offer so much more than that. When you walk through our doors, you know that you’ll be treated with the utmost care and respect. Our advisors are more than just advisors. They’re counselors, guides, and friends. Our commitment to our clients is what sets us apart.
- Retirement PlanningHow might you consider the future of your creative work, patents, likeness, and other IP? Could these be important factors in your retirement strategy and beyond? While these advancements present exciting opportunities, they also require careful consideration of ownership, management, and estate strategy. You must also consider potential risks, including infringement on the IP of others. As this chapter of the digital revolution unfolds, individuals and industries must navigate this new landscape to ensure a sustainable and prosperous future for creators and audiences alike.
- AnnuitiesA contract with an insurance company that guarantees current or future payments in exchange for a premium or series of premiums. The interest earned on an annuity contract is not taxable until the funds are paid out or withdrawn. Withdrawals and income payments are taxed as ordinary income. If a withdrawal is made prior to age 59½, penalties may apply. The guarantees of an annuity contract depend on the issuing company’s claims-paying ability. Annuities have fees and charges associated with the contract, and a surrender charge also may apply if the contract owner elects to give up the annuity before certain time-period conditions are satisfied.
- Long Term CareInsurance that covers the cost of medical and non-medical services needed by those who have a chronic illness or disability—most commonly associated with aging. Long-term-care insurance can cover the cost of nursing home care, in-home assistance, assisted living, and adult day care.
- Asset ManagementJoe is a graduate of the University of Maryland. He is a Series 7, 65 and 63 Investment Adviser Representative through Cambridge Investment Research, Inc. His financial service practice centers on asset management and long-term planning for individuals and businesses. Joe assists in designing various asset allocation programs to meet the financial goals of individual and corporate clients. Joe and his family reside in Mechanicsburg, Pennsylvania.
- Living TrustsCertain financial documents can outline your financial wishes. If you become unable to make decisions for yourself, these financial documents can be structured to empower a person to make decisions on your behalf. These documents may include joint ownership, durable power of attorney, and living trusts.
- Charitable Remainder TrustsA trust established for the benefit of a charitable organization under which the grantor can designate an income beneficiary to receive payment of a specified amount—at least annually—from the trust. The grantor may also be the income beneficiary. On the death of the grantor, remainder interest in the trust passes to the charitable organization. Using a trust involves a complex set of tax rules and regulations. Before moving forward with a trust, consider working with a professional who is familiar with the rules and regulations.
- Gifting StrategiesSome people may want a more advanced gifting strategy that can maximize their gift and generate potential tax benefits.
- Charitable Lead TrustsA trust established for the benefit of a charitable organization under which the charitable organization receives payment of a specified amount (at least annually) from the trust. On the death of the grantor, remainder interest in the trust passes to his or her heirs. Using a trust involves a complex set of tax rules and regulations. Before moving forward with a trust, consider working with a professional who is familiar with the rules and regulations.
- College Funding