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Top 10 Tax Deductions for Rental Property Owners

When you own rental property you are essentially running a small business. Here are 10 primary tax deductions for rental property owners that you can use to reduce your rental income for income tax purposes. 1. Mortgage Interest Just as you would report your mortgage interest on your primary residence on Scheduled A of your … Read moreTop 10 Tax Deductions for Rental Property Owners

The Best Investment Accounts for Different Asset Classes

Because of the different ways the Internal Revenue Service (IRS) taxes certain types of investment income, some investments are better held in tax sheltered plans while other investments work better in non-sheltered plans. As a general rule, investments that provide predictable income streams, like interest and dividends, need to be in tax sheltered plans to … Read moreThe Best Investment Accounts for Different Asset Classes

Term Life vs Whole Life Insurance: Which One is Better for You?

This is a recurring debate – should you buy insurance on the cheap, through a term policy, or should you opt for whole life insurance with its cash value/investment feature and coverage for life? The answer will depend on where you are in life (often how old you are), but will usually favor term in … Read moreTerm Life vs Whole Life Insurance: Which One is Better for You?

Preparing Your Investment Portfolio for Volatile Markets

Not to be overly pessimistic, but when Wall Street starts setting records it’s time to start hatching an Investment Plan B. Stocks can continue to rise, but they can also either stagnate for a very long time, or they could start turning down. When ever markets hit new records, you should be preparing your investment … Read morePreparing Your Investment Portfolio for Volatile Markets

Why Whole Life Insurance Works Better for Kids

The chorus that can be heard from financial planners recommending against buying whole life insurance is deafening. Most strongly recommend that you instead use term life insurance. Not only is term life insurance much less expensive, but you can also duplicate the non-insurance features of a whole life insurance policy yourself for less money and … Read moreWhy Whole Life Insurance Works Better for Kids

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