Means Financial Group

Description

We have been working with individuals and businesses in Missouri and Illinois for ten years. Our Financial Advisors have received extensive personal and professional training. Many hold various professional designations and are qualified and licensed to sell a variety of investment and insurance products. We are dedicated to developing lasting relationships with all of our clients. We believe in helping you assess your financial goals and then have you participate in the management of your finances.

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.

Jerry D. Means Jr., President of Means Financial Group, has provided Financial and Insurance Planning to the residents of both Missouri and Illinois for over 15 years. He is a Member of the National Association of Insurance and...

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along with any accrued interest, dividends, or other capital gains, are not subject to taxes until the funds are withdrawn.

The DOMA ruling represents an ideal time for same-sex couples to revisit their financial strategies to ensure they reflect the changes in the landscape and fulfill their objectives. Internal Revenue Service, 2013 Internal Revenue Service, 2013 Withdrawals from traditional IRAs are taxed as ordinary income and, if taken before age 59½, may be subject to a 10% federal income tax penalty. Generally, once you reach age 70½, you must begin taking required minimum distributions.

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