|
Insights: Consumers are eager to receive equities as gifts, but the process can be tricky
As holiday shopping is in full swing, you’ve probably felt the struggle of what to buy for the important people on your gift list. Add that on top of packed malls andporch pirates, the gift buying process can be tedious and frustrating.
But if someone in your life is an educated investor, fanatic of a publicly traded company or even brand new to the idea of investing — another option for a gift could be the gift of company ownership. In fact, a recentYahoo Finance pollshows 70% of Americans would happily receive an investment as a gift. However, there are a few things you should consider before you hit the buy button on your recipient’s favorite company stock ticker. |
\t \t\t\t\t\t\t\t\t\t | |
| -Brett Holzhauer, Content Marketing Manager |
| Q&A: Can I convert a traditional IRA to a Roth IRA through a backdoor IRA?
A:Yes, individuals who are not eligible to contribute to a Roth IRA directly due to income restrictions may be able to open a backdoor IRA and then convert their traditional IRA into a Roth IRA. This process, known as a "backdoor Roth conversion," can be a tax-efficient way for individuals to access the benefits of a Roth IRA, such as tax-free growth and qualified tax-free distributions in retirement.
Please remember to explore all of your options and talk to a tax professional before making any decisions. |
|
|
|
| Front of Mind: Is Shohei Ohtani a team player, tax wizard, or both?
Baseball legend Shohei Ohtani just signed a historic 10-year, \\$700 million contract with the LA Dodgers.
But instead he’s opting for \\$2 million each year of the contract and then \\$680 million at the end. |
|
|
|
As a teammate, this move allows the Dodgers to allocate more money to building the roster and potentially winning a World Series.
As a tax wizard, your deferred payments are taxed in the state you reside in, not where you earned the compensation meaning Shohei could move to a tax-friendly state such as Florida or Texas at the end of his contract and save \\$90 million in taxes.
Check out the full story |
Thanks for choosing M1,
The M1 Team |
|
| \t \t\t\t\t\t| \t\t\t\tDownload the M1 app | \t \t\t\t\t\t\t\t\t\t | \t\t\t\t | |
\tM1 and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. It is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. |
A rollover is only one of your options for your retirement account, please see IRS guidance about rollovers for additional details/considerations. |
\t This is an automated message, and we will not receive your response if you reply. M1 is a technology company offering a range of financial products and services. “M1” refers to M1 Holdings Inc., and its wholly-owned, separate affiliates M1 Finance LLC, M1 Spend LLC, and M1 Digital LLC.
\t
\tM1 newsletters reflect the opinions of only the authors who are associated persons of M1 and do not reflect the views of M1. They are for informational purposes only and are not a recommendation of an investment strategy or to buy or sell any security in any account. They are also not research reports and are not intended to serve as the basis for any investment decision. Prior to making any investment decision, you are encouraged to consult your personal investment, legal, and tax advisors. Any third-party information provided therein does not reflect the views of M1.
\t
\tAll investments involve risk including the loss of principal and past performance does not guarantee future results. Brokerage products and services offered by M1 Finance LLC, MemberFINRA/SIPC.
\t
\t© Copyright 2023 M1 Holdings Inc. |
20231218-3286965-10439351 |
|
|
|
|
|
|
