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Posts by Eric Reed:
A charitable trust holds assets and distributes them to charities. When you establish the trust you can specify how it will manage and invest its assets, as well as how it will make donations. There are some tax benefits to setting up a charitable trust. However, unless you are particularly wealthy, these tend to be minimal compared to other forms of tax management. In general, the best reason to establish a charitable trust is if you would like to create a long-standing form of charitable giving. Here’s what you need to know. Read more
Earned income is generally recorded in two ways for federal tax purposes. There is W-2 income and 1099-MISC income. The former is for employees, either full- or part-time; the latter is for contract workers, sometimes known as a freelancers. Here’s what you need to know to minimize your tax liability if you file a 1099-MISC. If you’re unsure about filing taxes, engage the services of a financial advisor. Read more
When companies issue stock they often split their shares up. Some shares, typically most of them, get offered to the general public. Others are restricted, which might be held by the company itself or have different rules about how investors can trade them. The difference is expressed as the company’s shares outstanding vs. its floating stock. Consider working with a financial advisor to maximize returns on your investments. Read more
An altcoin has one of two definitions. It is either any cryptocurrency that is not Bitcoin, or any cryptocurrency that is neither Bitcoin nor Ethereum. Regardless of which definition you pick, this… Read more
Annuities and perpetuities are insurance products that make payments on a fixed schedule. An annuity makes these payments over a fixed period of time and then ends. A perpetuity makes these payments… Read more
Student loans have become one of the most complicated aspects of modern finance. They involve large – often high interest rate – amounts of debt, typically taken on by young people with little… Read more
A qualified income trust (or QIT) is a special form of trust designed to help people receive long-term care benefits under Medicaid. It is intended for people who make too much money to receive long… Read more
A financial needs analysis (FNA) is an overview of your current and future financial situation. It takes into account assets, such as wealth and income, set off against liabilities, such as debt and… Read more
Two of the most common vehicles for building savings are the 401(k) and the health savings account, or HSA. While the HSA isn’t a traditional retirement account, at least not formally, it can provide… Read more
Two of the most widely used employer-sponsored retirement plans are 401(k)s and profit-sharing plans. Both of these are tax-advantaged retirement plans, meaning that the IRS taxes contributions to… Read more
A declaration of trust is the document that establishes a legal trust. It also defines the major elements of the entity, such as the beneficiaries and trustees. Once a trust has been established, a… Read more
Inflation is at once one of the most simple and complicated topics in economics. Analysts and others can write multi-volume studies on the subject. Indeed, many economists dedicate entire careers to… Read more
When someone dies, everything that he owns becomes known as his “estate.” This estate is the sum total of assets, debts and property owned and owed by the decedent (a legal term for the person who… Read more
Stocks and cryptocurrencies are dramatically different investment assets. While both are generally liquid assets that belong in the speculative side of your portfolio, the similarities end there.… Read more
An inheritance is a windfall that can absolutely help someone’s financial situation — but it can make your taxes tricky. If you inherit property or assets, as opposed to cash, you generally don’t owe… Read more
There’s currently one way to buy cryptocurrency exchange-traded funds in the U.S. — through the Bitcoin Strategy ETF that deals in Bitcoin futures traded on the Chicago Mercantile Exchange. More such… Read more
Cryptocurrencies remain some of the hottest assets on the market, and that’s unlikely to change. They are one of the most discussed, most volatile, most sought-after and (in some cases) most valuable… Read more
An individual retirement account (IRA) is a tax-advantaged retirement account that helps people to save for later in life. Traditional IRAs mimic the structure of a 401(k). You contribute pre-tax… Read more
Diamond hands is a term that has been popularized by the cryptocurrency community. In a nutshell, it means holding on to an investment asset despite volatility and risks. Rather than running for a… Read more
When you die, a section of law known as estate and probate law governs how your assets are distributed. Someone who dies (known as the “decedent”) with a legitimate will has set up what is known as a… Read more
Power of attorney is an important legal planning tool. It is commonly used for estate planning, medical management, financial management and much more. It’s also a flexible tool. You have the right… Read more
For many families with elderly people or engaged in estate planning, power of attorney is essential, especially if the elderly person’s mental abilities are compromised. Having someone who can take… Read more
Power of attorney is one of the most important legal forms for estate and elder care planning. Along with wills and trust documents, it is a critical document for arranging one’s affairs. A power of… Read more
Coinbase and Binance are two of the largest cryptocurrency markets online today. Coinbase is one of the oldest and most well-established markets. It was founded in 2012 and currently trades publicly… Read more
Under certain circumstances individuals need to have decisions made for them. Sometimes that’s because the person is unavailable or incapacitated. Other times, the person is no longer competent to… Read more
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