from FREEDMAN FINANCIAL | April 8, 2016

Tax Mistakes

It's Time to be Tax Smart.

In a low-return environment, higher taxes on investments can easily eat away at your profits. Taxes need to be one of the first things an investor considers, not just an afterthought. A new book, "The Overtaxed Investor" by Phil DeMuth deciphers through 73,954 pages of tax code to show you where the most mistakes made by investors.

Taxes need to be thought of from the moment you open any investment account. What you own, how you own it, and whether to buy and sell all need careful planning.

Top Ten Tax Mistakes Investors Make

April is Financial Literacy Month


	Test Your Financial Literacy, take the WalletLiteracy Survey

How Financially Literate are You?

Financial literacy includes personal financial skills such as budgets, checking accounts, saving and investment options, interest rates, credit scores, revolving credit, mortgage and installment loans, and liens. It also addresses insurance: auto, life, health, accident, whole life, term life and more.

Despite proof that financial literacy in America is poor, our legislators refuse to make universal educational improvements to an issue that impacts everyone. As parents we bear the responsibility to teach our kids basic skills at a young age. After all if we expect them to understand more complex financial issues as they get older they need to be harnessed with the basics. Want to see how you score among other Americans? Click on the "Take a Quiz" button.

Most & Least Financially Literate States

Note: Did you know that Marc is always willing to visit area schools and offer a free class on basic financial planning skills?

IN CASE YOU MISSED IT

Freedman Financial's Blog

Read our latest blog post here, as well as find other postings that may be of interest to you.

Weekly Market Commentary

Q1 2016 Earnings Preview: No More Excuses

Last Chance for File & Suspend

You have until April 29, 2016 to qualify for the "old" file & suspend rules.

Recent changes to claiming rules for social security will go into effect at the end of April, effectively ending "file and suspend". The "file and suspend" strategy allowed couples to increase their future social security earnings, by allowing one member to suspend their benefit, while the other member begins collecting their spousal benefits. If you have already filed or are in payment using this strategy your benefits will not change. If you turned 66 in 2015 and your spouse is at least 62, you may still be able to squeak in under the deadline and take advantage of this "loophole", but you must contact Social Security today to begin your application.

Though the file and suspend option is changing, there are still strategies to be considered about when to take your benefits. Your decision should not be made lightly and you must consider what is best for you & your family over your lifetime.

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