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Gift Giving: Taxes, Exclusions, and Transfers - What Needs To Be Known About Giving a Gift Thumbnail

Gift Giving: Taxes, Exclusions, and Transfers - What Needs To Be Known About Giving a Gift

Giving a gift of money or personal property can be as impactful to the giver as it is to the recipient. Especially when that gift if given to a loved one or a caused you care deeply about. But beware, giving a gift does not come with no strings attached. There are rules that need to be understood and followed. If not, that good feeling might not last as long as you'd hope! There are tax reporting obligations, annual exclusions, and special transfer rules that need to be abided by. This video will get you off on the right step to maximizing the value and good feelings of giving!

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My 3 Favorite Features of HSA's Thumbnail

My 3 Favorite Features of HSA's

HSAs are a fantastic way to save tax efficiently for healthcare expenses. But how familiar are you with all the lesser known benefits and features of this type of account. In this video we will cover: - The triple tax advantage - The Last Month Rule - The Qualified HSA Distribution Rule

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What is a 401(k)? Thumbnail

What is a 401(k)?

401(K) benefits offered through an employer can get overlooked. Retirement savings plans are a benefit most people expect to have available to them when they start working for an established company. But what exactly is a 401(k) and what are the benefits? In this video we explore this and more!

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Capital Gain Taxes: What are they? Why Should you care? What else do they affect? Thumbnail

Capital Gain Taxes: What are they? Why Should you care? What else do they affect?

Capital gain taxes are a type of tax most people know exist but are not entirely sure how they are applied on a tax return. They are taxes that are more preferential in rate than ordinary income tax. But combined, they can become tricky to align for maximum tax optimization. What are capital gains taxes? Why are they something you need to be aware of and how do capital gain taxes align with and work with the other taxes you incur throughout the year?

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Part 3 of 3: How Pharmacists can Evaluate Financial Advisors Thumbnail

Part 3 of 3: How Pharmacists can Evaluate Financial Advisors

As a pharmacist, you have the ability to specialize in a number of different areas. You could be a LTC pharmacist, retail pharmacist, ambulatory care pharmacist, clinical pharmacist, or even specialize in oncology. It would very different to have expertise in all of those areas at the same time. The same goes for financial advisors. The good advisors now are specializing into certain areas of expertise. This is important for pharmacists in their evaluation process. What an advisor specializes in will help pharmacists determine if what they need can be provided by the advisor. Active Investment Management Risk Management Financial Planning

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How Pharmacists can Evaluate Financial Advisors: Part 2 of 3 Thumbnail

How Pharmacists can Evaluate Financial Advisors: Part 2 of 3

The type of business model advisors work within should be considered when a pharmacist is evaluated financial advisors. The business model that a financial professional uses will set the expectation for the relationship for the advisor and the client. It will also allow pharmacists to better evaluate if the type of business model their advisor uses is in their best interest. 3 Different Financial Advisor Business Models Commission Business. Fee-based Business. Fee-Only Business.

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How Pharmacists can Evaluate Financial Advisors: Part 1 of 3 Thumbnail

How Pharmacists can Evaluate Financial Advisors: Part 1 of 3

How should a Pharmacist evaluate financial advisors or financial professionals in the financial services industry? If you're a pharmacist and you've gotten to a point in your life where you think it would be valuable to seek out some sort of financial professional, you will quickly learn that it's extremely hard to distinguish between one financial advisor, planner, or wealth manager from another In this video series I'm going to break down three areas I think pharmacists should be looking at in order to evaluate financial professionals to determine whether they are appropriate or not for you to work with.

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5 Steps to Creating Your Own Financial Plan Thumbnail

5 Steps to Creating Your Own Financial Plan

Have you always wanted to become better with your money regardless of what life or financial stage you find yourself in currently? Well one of the easiest ways to become better with money and to create more independence with your money is by creating a financial plan for yourself. So, in this video I'm gonna outline the five simple steps you can take to create your own financial plan. #1: Build a picture of where you currently stand financially. #2: Create or set financial goals. #3: Build the bridge. #4: Identify the blind spots. #5: Follow up and follow through.

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The Wash-Sale Rule Thumbnail

The Wash-Sale Rule

It's always a great feeling when you are able to find ways to pay less tax. Using portfolio losses to offset portfolio gains is a great example. However, beware of the Wash Sale rule. It's an IRS rule that could come back to bite you during tax time.

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