Articles by: Gerald Dewes

Finance with Gerald Dewes: What Is the Gift Tax?

Finance with Gerald Dewes: What Is the Gift Tax?

News September 29, 2020 at 8:33 pm

The federal gift tax applies to gifts of property or money while the donor is living. The federal estate tax, on the other hand, applies to property conveyed to others (with the exception of a spouse) after a person’s death. The gift tax applies to the donor. The recipient isRead More

Finance with Gerald Dewes: What is the most tax-efficient way to take a distribution from a retirement plan?

Finance with Gerald Dewes: What is the most tax-efficient way to take a distribution from a retirement plan?

News September 26, 2020 at 8:35 pm

If you receive a distribution from a qualified retirement plan such as a 401(k), you need to consider whether to pay taxes now or to roll over the account to another tax-deferred plan. A correctly implemented rollover avoids current taxes and allows the funds to continue accumulating tax deferred. PayingRead More

Finance with Gerald Dewes: What Are the Different Classes of Assets?

Finance with Gerald Dewes: What Are the Different Classes of Assets?

Finance, News September 24, 2020 at 8:55 pm

When it comes to investing their money, many people are content to take a random approach. They may have received a hot tip for a particular investment and decided to plow a large amount of money into it with no regard to the overall balance of their portfolios. However, researchRead More

Finance with Gerald Dewes: How Long Will It Take to Double My Money?

Finance with Gerald Dewes: How Long Will It Take to Double My Money?

News September 21, 2020 at 3:33 pm

Before making any investment decision, one of the key elements you face is working out the real rate of return on your investment. Compound interest is critical to investment growth. Whether your financial portfolio consists solely of a deposit account at your local bank or a series of highly leveragedRead More

Finance with Gerald Dewes: How does inflation affect me?

Finance with Gerald Dewes: How does inflation affect me?

Columns, News September 20, 2020 at 3:30 pm

Are you saving for retirement? For your children’s education? For any other long-term goal? If so, you’ll want to know how inflation can impact your savings. Inflation is the increase in the price of products over time. Inflation rates have fluctuated over the years. Sometimes inflation runs high, and otherRead More

Finance with Gerald Dewes: Is a home equity loan or line of credit right for me?

Finance with Gerald Dewes: Is a home equity loan or line of credit right for me?

Finance, News September 19, 2020 at 3:36 pm

Home equity financing uses the equity in your home to secure a loan. For this reason, lenders typically offer better interest rates for this type of financing than they do for other, unsecured types of personal loans. The Tax Cuts and Jobs Act of 2017, enacted Dec. 22, suspended fromRead More

Finance with Gerald Dewes: What About Financial Aid for College?

Finance with Gerald Dewes: What About Financial Aid for College?

Finance, News September 18, 2020 at 3:40 pm

Financial aid for college consists of loans, grants, scholarships, and work study. Grants and scholarships are worth searching for because they don’t have to be paid back, unlike student loans, which require an ongoing financial obligation, or work study, which requires a work commitment. There are generally three sources forRead More

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