The Consolidated Appropriations Act of 2016 became public law on Dec 18th. Included therein is the establishment of Qualified Charitable Distributions (“QCDs”) from IRAs as permanent. Previously the QCD provision expired annually and required extension via temporary legislation. What is a QCD? QCDs are direct transfers from an IRA to a qualified charity totaling up [...]
The Consumer Finance Protection Bureau (“CFPB”) was created in the wake of the 2008 credit crisis. As with many government agencies the theory behind it is valid. Their actions, however, seem designed to protect us from ourselves and our oftentimes willful stupidity. Case in point is the new “Know Before You Owe” rule. It’s designed [...]
The IRS has issued the 2016 optional standard mileage rates for calculating the deductible costs of operating an automobile. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. Effective Jan 1st the standard rates for a car, van, pickup truck or panel truck [...]
The parable introduces us to a man who refuses to see anything as positive or negative. Why? Because he believes the consequences of good fortune and misfortune are unknowable. Yet this simple truth does not stop us from latching on to whatever guesswork about the future parades as thoughtful insight. Consider some of the things [...]
While the academics and money managers argue over the pros and cons of active vs. passive strategies investors often ignore the noise and focus solely on returns. “Did I beat the S&P 500? Good.” That’s all some people seem to care about. What a shame. Prudent investing requires a full and complete understanding of what [...]
In an oft-paraphrased 1789 letter to Richard Price Thomas Jefferson wrote that a well-informed electorate is a prerequisite to democracy. The next time we as a society collectively wonder about the political landscape and direction of our country we need look no further than ourselves and the things we deem important. Just what are the [...]
Under new Federal guidelines borrowers with a loan closing date on or after Jan 1st will be required to escrow funds with their mortgage lender or servicer to cover flood insurance premiums and fees if the property is located in a Special Flood Hazard Area in a community participating in the National Flood Insurance Program. [...]
Mark Zuckerberg and his wife Priscilla Chan recently announced they will donate 99% of their wealth (currently valued at about $45 billion) to charity. Who will benefit from the largesse? Why the Chan Zuckerberg Initiative of course! There’s nothing “wrong” with this per se. Many charitable foundations exist as vehicles for funneling a proverbial pot [...]
Apollo Wealth Management is proud to sponsor the live webcam at the Petco Adoption Center in Fresno, CA. Through our financial support you can watch the kittens from The Cat House on the Kings (“TCHOTK”) throughout the month of December. To view the live feed (and who doesn’t want to watch kittens frolic?) visit TCHOTK’s [...]
A few weeks ago Valeant became a household name. Their business model of acquiring drugs and raising prices as a means of generating, um, “organic” revenue growth came under scrutiny. The stock tanked. Valeant has been a darling of the investment community. You probably own it via a mutual fund in your 401(k). But what [...]