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Top related persons:
Dan Herron - 2 Stephen Turanchik - 1 Paul Hastings - 1 Andrew Gordon - 1 Richard LaFalce - 1 Morgan Lewis - 1 Turanchik - 1 Bonds - 1
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Search resuls for: "Dan Herron"


6 mentions found


☆ Investors may miss out on this key tax loophole if they actively trade a spot bitcoin ETF
  + stars: | 2024-01-18 | by ( Darla Mercado | Cfp | ) www.cnbc.com   time to read: +4 min
But there's a catch with conventional assets: the wash sale rule . Now, tax professionals are flagging a potential wrinkle that may arise: Even though bitcoin itself isn't subject to the wash sale rule, a spot bitcoin ETF very well may be. Property versus security Under federal tax law, the IRS deems cryptocurrency to be property . Managing limitations At its core, that means investors should avoid swapping in and out of the same spot bitcoin ETF within the 61-day limit if they had sold the position. This also raises the question of whether dumping one spot bitcoin ETF for another would be deemed substantially identical.
Persons: Stephen Turanchik, Paul Hastings, Andrew Gordon, Dan Herron, Richard LaFalce, Morgan Lewis, Turanchik Organizations: Internal, Digital, Tax, Force, American Institute of CPAs, IRS, Gordon Law Group, Elemental Wealth, Investors Locations: San Luis Obispo , California
☆ Protect your portfolio income from hefty state taxes with these funds
  + stars: | 2023-10-26 | by ( Darla Mercado | Cfp | ) www.cnbc.com   time to read: +4 min
Investors in high-tax locales can protect some of their portfolio income from steep levies by adding state-specific municipal bond funds to their fixed-income roster. "In the muni bond fund market, we're seeing yields higher than they have been in more than a decade," said Amy Arnott, portfolio strategist for Morningstar Research Services. That's because while muni bond income is generally free of federal taxes, it can also avoid state levies if the investor resides in the state where the bond was issued. That's where state-specific muni bond funds come into the picture. See below for a chart of 10 large state-focused muni bond funds.
Persons: Bonds, haven't, Amy Arnott, Dan Herron, Herron, Arnott, CNBC's Gabriel Cortes Organizations: Federal Reserve, Muni Bond ETF, Morningstar Research Services, Vanguard, SEC, Vanguard New, CPA, Wealth Advisors, muni Locations: California, New York, Massachusetts, Ohio, Jersey
☆ Parking your cash in these investments is paying off: 3 ways to find the best place to hide
  + stars: | 2023-04-19 | by ( Darla Mercado | Cfp | ) www.cnbc.com   time to read: +4 min
Apple, working with Goldman Sachs, entered the fray this week and launched a savings account with a 4.15% annual percentage yield. Even money market funds, where investors can park cash that's in their brokerage accounts, are paying attractive rates. With an array of places to earn yield, investors need to weigh a few factors before deciding where they ought to keep their cash. Note that the rate paid to you on a high-yield savings account can change once you've opened it. Meanwhile, savings accounts may not hit you with penalties – but you could still face limitations on the number of withdrawals and transfers from these accounts.
☆ Did you buy alternative investments and big-yielding assets last year? Your tax return could get a little messy
  + stars: | 2023-04-16 | by ( Darla Mercado | Cfp | ) www.cnbc.com   time to read: +5 min
Tax Day is upon us – but investors who have complicated tax returns may find themselves asking for an extension. April 18 is the filing deadline for your 2022 return, and on that day, you must pay any federal income taxes you owe. Last year, an estimated 19 million taxpayers asked for an extension to turn in their 2021 tax return, according to the IRS. That's because while the MLPs themselves aren't subject to federal income taxes, the limited partners who receive income distributions are responsible for taxes. You need this form in order to file your income tax return, but partnerships may not send these details until mid-March, which could lead to investors going on extension.
☆ Inflation bonds have surged in popularity amid a flight to safety. Why they may also be a good opportunity for younger investors
  + stars: | 2022-10-28 | by ( Samantha Subin | ) www.cnbc.com   time to read: +4 min
Investments in the U.S. Treasury's Series I savings bonds have surged this year as prices climbed and so far show few signs of easing. I bonds offer holders a standard fixed rate together with a variable rate that shifts every six months, the latter depending on the latest consumer price index numbers. Even putting a few thousand dollars in the bond could offer a decent cash cushion for times ahead, she said. While a safe haven for cash, I bonds are not an alternative to investing, McLoughlin said. Despite the market's dismal performance this year, equities offer much better returns for those with longer time horizons, she said.
☆ The 'bummer' of the $7,500 electric vehicle tax credit: Its full value may be hard to get
  + stars: | 2022-10-15 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +6 min
But it may be tough for consumers to get the full value of the tax credit — at least initially. The tax credit 'bummer': It's nonrefundableThe legislation, called the Inflation Reduction Act, made the tax credit "nonrefundable." This person wouldn't get the full $7,500 tax credit — they'd be able to claim $5,000 and cut their tax bill to zero. More from Personal Finance:Missed a tax credit from last year? It's unclear which electric vehicles will meet these standards and qualify for a tax credit next year.
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