Financial Network Investment

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The difference between the price at which an asset was purchased and the price for which it was sold. When the sale price is higher than the purchase price, the difference is a capital gain; when the sale price is lower than the purchase price, the difference is a capital loss. Cash Alternatives Assets 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.

Our professionals have over 40 years of experience in financial services. We can help you address your needs of today and for many years to come. We look forward to working with you through all stages of your life .

A credit subtracted from income taxes after preliminary tax liability has been calculated. Tax Deduction An 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. Tax Deferred A condition of certain plans and accounts under which the funds in the plan or account along with any accrued interest, dividends, or other capital gains, are not subject to taxes until the funds are withdrawn.

Is the policy tax qualified? Certain long-term care policies can offer federal income tax benefits. Generally, premiums paid for these policies can be included with other uncompensated medical expenses for deduction from income if they exceed 7½ % of adjusted gross income. And benefits received generally will not be counted as income. 1 Is the policy guaranteed renewable? In most states, long-term care policies are guaranteed renewable.

Anyone who has taken a thorough look at the major areas of his or her financial life, (such as insurance, tax management, estate planning, and capital accumulation), needs to carefully plan in order to help ensure that all of the pieces are working together to produce the most favorable results. Through our thorough discovery process, we learn about you, your goals and constraints so we both understand where you're starting from and where you want to go.

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