Kaufman Financial Services

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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.

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along with any accrued interest, dividends, or other capital gains, are not subject to taxes until the funds are withdrawn.

Roth 401(k) plans are subject to the same annual contribution limits as regular 401(k) plans—$17,500 for 2014, ($23,000 for those over age 50). These are cumulative limits that apply to all accounts with a single employer; an individual couldn’t save $17,500 in a traditional 401(k) and another $17,500 in a Roth 401(k). Another factor to consider is employer matches are made with pretax dollars, just as they are with a traditional 401(k) plans. In a Roth 401(k), however, these matching funds accumulate in a separate account that will be taxed as ordinary income at withdrawal.

What can Kaufman Financial Services do for you? Individuals face challenges every day. Can you tackle your financial challenges all on your own? Located in Reading, Pennsylvania, our knowledgeable staff, including four financial advisors, can help you develop a plan to address your financial goals and objectives. Providing superior client service and information is the core of what we do at Kaufman Financial Services. With financial planning becoming a major part of the American lifestyle, we strive to be the best so that you, your wallet, and your net worth can see the difference.

We have been working with individuals and businesses in the area since 1977. We pride ourselves with staff who have extensive personal and professional experience. Many of our staff hold professional designations and are licensed. We are dedicated to developing lasting relationships with all our clients. We believe in helping you assess your financial goals and participate in the management of your finances. We look forward to using our expertise to help you pursue your financial goals.

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