Eric Reed is a freelance journalist who specializes in economics, policy and global issues, with substantial coverage of finance and personal finance. He has contributed to outlets including The Street, CNBC, Glassdoor and Consumer Reports. Eric’s work focuses on the human impact of abstract issues, emphasizing analytical journalism that helps readers more fully understand their world and their money. He has reported from more than a dozen countries, with datelines that include Sao Paolo, Brazil; Phnom Penh, Cambodia; and Athens, Greece. A former attorney, before becoming a journalist Eric worked in securities litigation and white collar criminal defense with a pro bono specialty in human trafficking issues. He graduated from the University of Michigan Law School and can be found any given Saturday in the fall cheering on his Wolverines.
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
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
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
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
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