Tax Rules for Gifts Shared by Jameson Van Houten

Jameson Van Houten reveals essential information to prepare for tax season.

Be ready for tax season with tips from Jameson Van Houten.

When tax season rolls around, Jameson Van Houten knows that it is essential that individuals know plenty of information to help them through the more difficult parts of the tax process. One thing that helps individuals each year when they do their taxes is knowledge of how charitable giving and gifting to family and friends affects their taxes. Jameson Van Houten, as a leading financial expert, wants to share important information for those who want to get a head start on their taxes this year.

When it comes to financial gift giving, it is important to know what does and does not count as a tax free gift. A tax free gift is one that can be given without the giver having to pay tax on it. Each year, an individual can give gifts of up to $14,000 that are not taxes, and couples can give twice that amount. Jameson Van Houten would also like to point out that a number of different kinds of gifts that qualify within this tax free limit. If, for example, you pay for education necessities for another individual, such as tuition or books, that may fall under tax free gifts. Paying for medical expenses may also qualify, however, not every expense will qualify as part of the tax free gift, so be sure to do your research to see which do and do not apply. Gifting to a trust may also qualify as a tax free gift if made directly to the trust says Jameson Van Houten.

Another thing that individuals should be aware of when they are getting ready to do taxes is how charitable giving applies to their taxes. Charitable monetary gifts may be deductible if they are made by the end of 2014. However, receipts should always be kept as record. Additionally, donated items like furniture, clothing, and household items can be deducted as well. However, in order to use these deductions, individuals must keep itemized lists of their donations, and must also keep track of the value of each item. Jameson Van Houten knows that keeping in mind this information will help you use these rules to your best advantage and ensure that taxes in 2015 are a breeze. Start planning now to get a head start and file well before the April 15th deadline!

 

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Jameson Van Houten Reveals Two Great Financial Planning Tips

How to build success for the future through financial planning.

Jameson Van Houten reveals two key tips for effective financial planning.

Jameson Van Houten of the Stonegate Financial Group knows that it is never too late to start learning and implementing good financial planning habits. Though it is recommended that individuals start planning for the future as soon as possible, there are many things that people can do today that will lead to a brighter tomorrow.

1. Maximize your benefits.
If your employer offers a 401(k) savings plan, you’re lucky! Consider taking full advantage of this by maximizing the amount of money that is placed into this account. Many employers will even match what you put into your savings, making it an even better resource for retirement funds.

2. Keep some cash reserves on hand and build them up.
Ideally, the financial planners at Stonegate Financial Group share that individuals should try to have three to six months of their normal income saved up in a rainy-day fund. This can really come in handy if unexpected expenses pop up, or if a person loses their job, etc. This money can be saved as cash, so that it is liquid and does not accrue any penalties.

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How to Prioritize Debt from Jameson Van Houten

Jameson Van Houten knows that being in debt can be a truly scary experience. Oftentimes, individuals feel as it they will never be debt-free. With so much debt, many feel a crippling sense of hopelessness and feel like they will never have a way out. However, the first step that anyone in debt needs to take is to prioritize their debts in order to achieve financial freedom in the future.

Getting out of debt is not an easy process. It takes dedication, time and diligence. When assessing one’s debts, it’s important to first and foremost prioritize your debts. Many people think that they need to pay off bigger debts first, but Jameson Van Houten of Stonegate Financial Group urges people to consider paying off their smaller debts first.

Prioritizing debts with Jameson Van Houten

Jameson Van Houten shares information on how to prioritize debt.

The reason for adopting this strategy is as follows: Instead of doing payment after payment for a large debt while neglecting smaller debts, you put yourself in an even worse position. If you pay off your smaller debts first, you can then apply the amount that you were paying to that smaller debt to your much larger debt in order to pay it off faster.

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Jameson Van Houten Reveals Top Budgeting Tips for Fall 2014

It’s not too late to create and implement a budget for the rest of the year! The financial planners at Stonegate Financial Group, including Jameson Van Houten are sharing information about how to create a budget that will help you to achieve your goals for the rest of the year! Whether it is a getaway, a present for a loved one or a whole host of reasons, saving now is sure to pay off in the long run! SFG is located in Scottsdale, Arizona, and services those in the greater Phoenix Valley, providing them with tax and wealth management solutions for high-income clients, though these tips can work and help just about anyone!

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Jameson Van Houten Shares an Important Financial Tip for Retirement

Jameson Van Houten knows that it can be stressful to start thinking about retirement and how much money you will need saved up for this important time in your life. People need to start saving money as early as they can to ensure that they will have a nice and comfortable retirement ahead of them. One way to make sure that this happens is to put a plan in place when you are in your early 20s. The best way to do this is by focusing on your debt before thinking about retirement or other accounts.

Many young adults in their 20s have likely graduated from college and may have a pile of debt that they have collected by taking out different loans from the bank. This can be stressful to think about paying back all your loans, as well as worrying about saving for retirement that won’t happen for another several decades. However, the ideal way to tackle this situation is to approach it one step at a time.

Instead of trying to focus on getting rid of your debt and saving a good portion of money at the same time, Jameson Van Houten recommends that people focus on paying back all the debt first. Once you get this out of the way, you will have more money to invest into retirement and into other savings accounts as well. If you are focused on too many expenses and savings accounts all at once, it can be overwhelming and may not be beneficial at all.

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Jameson Van Houten Offers Important Information About Roth IRA

When you start to think about retirement, you may start to look at Individual Retirement Arrangements (IRAs). There are different types of IRAs, and choosing one depends on many factors, including your ability to qualify for them and the advantages that they offer you. Since Jameson Van Houten wants to make sure that you find the best IRA option for yourself, they would like to discuss the advantages of having a Roth IRA over a traditional IRA. Roth IRAs are not the best choice for everyone, but when you look into them, you should consider the following advantages of a Roth IRA.

  • Growth: Roth IRAs can grow and collect Tax free interest. They can also be withdrawn from after either 5 years or after the owner turns 59 ½ without any further fees or taxes.
  • Inheritance: the funds from a Roth IRA can be left to the heirs of the owner without them having to pay any income tax on the money, which offers security for the owners loved ones after they pass.
  • No Distributions: IRAs usually require a certain amount of money to be distributed over a period of time, but with a Roth IRA, no money is distributed until after the death of the owner.

Jameson Van Houten encourages you to meet with a financial adviser and discuss a Roth IRA. With all its advantages, a Roth IRA is a great choice, and you may find that it is a great option for you. If you qualify, you can really benefit from the advantages that a Roth IRA has over a traditional IRA.

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Jameson Van Houten Guides The Through Financial Struggles of Divorce

Jameson Van Houten Guides The Through Financial Struggles of Divorce

Jameson Van Houten Guides The Through Financial Struggles of Divorce

Jameson Van Houten knows for anyone who is going through a divorce, it can be a very stressful life event that brings on a lot of changes. One of the most common is the financial aspects. It’s important to find someone trustworthy to work with that can help evaluate the state of your finances during this time. The experts at Stonegate Financial can help examine what actions will best suit your financial plan. For more information, please visit www.stonegatefg.com

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Jameson Van Houten Highlights Benefits of Using Financial Planning Services

For anyone in need of assistance with their personal finances, Jameson Van Houten offers clients the opportunity to seek out advice from professionals. Although many out there may be well versed in different aspects of financial planning, such as investments of the retirement process, it is always a smart decision to learn more about this complicated process.

It’s important to remember that any financial decisions made now can have a large impact on someone’s future. Since there are constant changes that can influence a person’s finances, it is wise to have someone who is up-to-date on different patterns and trends in the market and that will offer useful advice about what to do next. Jameson Van Houten knows for those who utilize the assistance of a financial planner will learn that the insider information they offer is invaluable, especially for those who have never truly considered the benefits this service can offer. Even beginners shouldn’t fear, because they will become more educated about how to handle finances as they start the process.

Jameson Van Houten believes that any questions or concerns are something that should be expressed to whatever individual is assisting in this process. Even if it seems like a clear choice, weighing the benefits of different options is always a beneficial part of the process. Often, a financial advisor’s perspective offers insight and useful information that even the most informed clients may not be aware of. This is a great way to ensure the best decisions are being made when it comes to anyone’s personal finances.

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Jameson Van Houten Highlights the Value of Children Saving Money

Jameson Van Houten, CEO of Stonegate Financial Group, knows how vital it is to learn about the importance of money at an early age. With this includes what to spend money on, when to save it, and what exactly the value of a dollar is. Many people in today’s society never had the chance to learn all about financial responsibility, which has contributed to a lot of debt and bad spending habits. In order to fix this, children at a young age need to be taught how necessary it is to save money.

Even young children still have the ability to possess money and decide what exactly they should spend their money on. Most of the time, this includes the hottest new toy or latest gadget that just hit the market. It is important for parents and grandparents alike to sit down with young children and explain to them why saving money is important. The money that children have is even earned and they should understand why they should save that money that they worked so hard for.

When to save money is an every day decision that children will be able to carry with them all the way throughout adulthood. By having the ability to save money and refrain from buying a new toy, Jameson Van Houten say that this can turn into a greater respect for money later on down the road. These habits will then shift to being able to put away money and resist from spending it on a new luxury car or fancy designer handbag.

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