Potential Pitfalls To Consider When Choosing A DST Advisor Or Broker

Potential Pitfall When Choosing A DST Advisor Or Broker Hero Image

With the right guidance investing in a Delaware Statutory Trust (DST) can be a straightforward process. However, you don’t buy shares of DSTs on a public exchange like other investments, you need to work with an advisor who has a specialty in DSTs.

Mar 6, 2024

Do Bank Accounts with Beneficiaries Have to Go Through Probate?

Do Bank Accounts with Beneficiaries Have to Go Through Probate?

Adding a beneficiary to an asset account generally avoids probate. This applies to bank accounts. If the owner of a bank account dies, some banks freeze it. What does this mean if there is a beneficiary? Does the account still have to pass through probate?

Mar 5, 2024

What Are Schedules 1, 2, and 3 on Tax Form 1040 and What Are They Used For?

What Are Schedules 1, 2, and 3 on Tax Form 1040 and What Are They Used For?

Some taxpayers will have income, taxes, and credits that are not included in Form 1040. However, these additional items need to be declared on the taxpayer’s tax return. That’s where Schedules 1, 2, and 3 come in.

Mar 1, 2024

How to Calculate Cost Basis for Rental Property

How to Calculate Cost Basis for Rental Property

It is a common misconception that the cost basis for a rental property is the price paid for a property. The cost basis for a rental property is actually the cost of acquiring the property. This is considering not just the price, but also expenses incurred in the sale.

Feb 29, 2024

Is the 1% Rule of Real Estate Investing Realistic?

Is the 1% Rule of Real Estate Investing Realistic?

The 1% rule is a guideline real estate investors use to choose viable investment options for their portfolios. Although the rule has helped many investors make wise decisions regarding their investment properties, the current real estate market may make following the 1% rule unrealistic.

Feb 28, 2024

Do You Pay FICA on Retirement Income?

Do You Pay FICA on Retirement Income?

Questions about retirement income taxes confuse many taxpayers, especially when the topic is specific to Social Security and other pension-related income. After all, the taxpayer has watched those deductions be subtracted for many years. He expects to finally enjoy watching money flow back in during retirement, right? Well, not so fast. Retirement income is subject to income taxes, including FICA.

Feb 26, 2024

Is Land Tax Deductible on Investment Property?

Is Land Tax Deductible on Investment Property?

Investing in land is like investing in rental properties. Any costs incurred to initially acquire land, including closing and up-front financing costs, are capitalized as basis of the investment and are not deductible at the time of purchase.

Feb 25, 2024

Capital Gains Taxes On Joint Ownership Property: What You Need To Know

Feb 22, 2024

How Does Fee-Based Financial Planning Work?

Financial planners and investment advisors can help put you closer to your financial goals by creating a comprehensive financial plan that includes managing your money, providing investment advice, tax, retirement and estate planning, and many other services.

Feb 19, 2024

Is Retirement Pension Considered Income?

Is Retirement Pension Considered Income?

When transitioning into retirement, understanding your financial landscape is crucial. A common question we often encounter is, 'Is a retirement pension considered income?' This query pertains to how the government classifies your retirement pension for tax purposes. To simplify, most pensions, particularly those funded with pre-tax dollars, are considered income when disbursed.

Feb 16, 2024

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