Misconceptions About Long Term Care Insurance Long term care insurance is a type of insurance that can cover home health care, assisted living, and nursing homes. But there are some misconceptions about long term care insurance. In this article, we will clear up some of these misconceptions. 1. I am Covered by Health Insurance [...]
Cryptocurrency Basics Cryptocurrency is a type of decentralized digital currency. Bitcoin was the first type of cryptocurrency. In this article, we will go over the basics of how cryptocurrency works. How It Works Each type of cryptocurrency has a blockchain. A blockchain is a constantly changing record of every transaction that was made with [...]
5 Common Mistakes When Forming an LLC An LLC is a limited liability company. This is an entity that can protect your personal assets from business liabilities. There are legal and tax implications when setting up an LLC. However, there are common mistakes when forming an LLC that people make. In this article, we [...]
Capital Gains on Home Sales A home is a capital asset, this means you can owe capital gains on home sales. In this article, we will go over what capital gains tax is, and how you can avoid it. How It Works If you sell a home for profit, you will owe capital gains [...]
Using Life Insurance as an Investment Life insurance is typically used as a tool to care for your loved ones after you pass. But you can also use life insurance as an investment during your lifetime. You can only utilize whole life and universal life insurance as an investment. This is because they have [...]
Types of Retirement Accounts To help you save for retirement there are several types of retirement accounts. These accounts include Traditional IRAs, Roth IRAs, SEP IRAs, SIMPLE IRAs, 401ks and 403b plans. In this article, we will go over the basics of these 6 types of retirement accounts. Traditional IRA IRA stands for Individual [...]
Qualified Domestic Trust (QDOT) A Qualified Domestic Trust, or QDOT, is a special type of trust that you can use for estate tax planning. In this article, we will go over what a Qualified Domestic Trust is and how it works. Marital Deduction Under IRS Section 2056A the surviving spouse is eligible to deduct [...]
5 Tips to Help You Survive an Audit Finding out you are the subject of an audit can be stressful and scary. But there is some basic information that can help make this process easier. In this article, we will go over 5 tips to help you survive an audit. It Does Not Mean [...]
Deferred Annuity A deferred annuity is a contract you make with an insurance company. In exchange for paying over a sum the insurance company promises to pay you regular income payments at a future date. This is opposed to an immediate annuity which begins payments on the spot. In this article, we will go [...]
Derivative Basics A derivative is a financial contract. Its value is contingent on an underlying asset or group of assets. The price of a derivative will fluctuate with the value of the underlying asset. The underlying assets can include stocks, bonds, commodities, currencies, interest rates, and market indexes. They are often used to hedge [...]
