Wealth management is a silver lining at Bank of America. The Wall Street behemothreported earnings of $9.2 billion in the second quarter, up from $3.5 billion a year earlier. The huge increase was due in part to the bank’s release of more than $2 billion it stashed away in anticipation of covering soured loans from […]
Archives for July 2021
Government Bond Purchase – How to open Gilt Account?
Retail investor can purchase Government Bond now. New facility of Retail Direct Gilt Account is launched. Gilt account is required in order to buy and sell bonds. All government securities are available centrally on this site. Earlier the facility of buying bond and government securities were available only to banks and mutual funds. Gilt account […]
Death toll rises to 97 in Surfside condo collapse; judge approves sale of site
A worker waits to load his truck with debris from the rubble of the Champlain Towers South building, as removal and recovery work continues at the site of the partially collapsed condo building, Wednesday, July 14, 2021, in Surfside, Fla. Lynne Sladky | AP The number of confirmed deaths in the collapse of a condominium […]
NFTs come with big valuation challenges
Valuation of nonfungible tokens (NFTs) became a hot topic when digital artist Beeple sold an NFT for almost $70 million earlier this year. The high price commanded in that sale and numerous other transactions led to a difficult question for CPAs. What is an NFT’s value when it’s on a company balance sheet, or held […]
Voices: Bitcoin in your IRA? What could possibly go wrong?
Even the most adventurous investor would acknowledge that cryptocurrencies are risky. And that saving for retirement should be a search for a measure of safety. Yet salespeople have been blanketing potential investors with email pitches urging them to put Bitcoin and other cryptocurrencies into individual retirement accounts. They tout eye-popping gains, warn of scary inflation […]
Carson Block on China vs Chinese Tech Stocks
I don’t watch a lot of TV during the day but I happened to have caught this great interview between Joe Kernan and Carson Block this morning regarding the latest signaling from the Chinese Communist Party. They warned their version of Uber, called Didi, not to f*** around and list on a US exchange, and […]
What Is Net Investment Income Tax? The 3.8% Tax You May Need to Worry About
If you profit from your investments, this one’s for you. You’re responsible for paying capital gains tax. And depending on how much money you make annually, you may also be responsible for net investment income tax. What is net investment income tax? What is net investment income tax? Net investment income tax (also called NII […]
Kitces & Carl Ep 64: Why AUM Keeps Growing Despite Opportunities For Flat-Fee Clients
Executive Summary In the early days of the financial advice industry, an advisor’s most valuable service for clients was simply providing access to financial products (as stocks, bonds, insurance, etc. couldn’t be purchased directly by consumers). However, the advent of online brokerages not only drove down the cost to purchase investment products, but made investing […]
Informed Choice closes office for Freedom Day
Financial Planning firm Informed Choice is to close its office for the day on Monday 19 July in order to celebrate Freedom Day. The office closure comes as the firm prepares to return to the office with a hybrid approach to work from home and the office next week. The office will be closed for […]
COVID-19 Support Packages
COVID-19 support packages are available. With COVID-19 still causing havoc around the country and with the safety net of JobKeeper no longer available, there are a number of support packages on offer by state, territory and federal governments. COVID-19 Support Packages for NSW Business The NSW Government will be offering financial support to businesses […]