Page 37 - Flathead Beacon // 11.26.14

FLATHEADBEACON.COM BUSINESS MONTHLY
NOVEMBER 26, 2014 | 37
FINANCIAL CORNER Jesse Rigler
- Travel
- Retirement
- First Business - Growing Family - College
Growing financially requires direction, patience and a plan
— a plan based on wisdom and experience. D.A. Davidson & Co. has been helping investors chart their financial goals for over 75 years. When you’re ready to chart your course, call us.
406-752-6212 or 1-800-955-2208 200 First Ave. E., K-M Bldg. Kalispell, MT 59901
406-862-2101 or 1-888-564-3008 14 West Second Street, Whitefish, MT 59937
One of the toughest challenges
in recovery is the rebuilding of relationships that are damaged. It is especially tough when the relationships are with our children who have been impacted by our addiction.
PARENTS IN RECOVERY GROUP is an 8 week, strength based program designed to support parents in establishing relationships based on love, trust, respect and consistency. Learning to parent from a place of health and strength, rather than guilt and shame. Developing the skills of parenting that are separate from the skills of recovery.
PLEASE JOIN US Tuesdays from 5:30-7:00pm Contact us to enroll prior
to attending group
752-0530
Dickerson Counseling, LLC
752-0530 • 245 Main Street, Kalispell
Check Out This Year-end Financial Checklist
AS 2014 DRAWS TO A CLOSE, you may want to look back on the progress you’ve made this past year in various areas of your life — and that certainly includes progress toward your financial goals. At the same time, you may want to make some end-of-year moves that can close out 2014 on a posi- tive note while paving the way for a pro- ductive 2015.
Here are a few such moves to con- sider:
• Boost your retirement plan contri- butions. This actually isn’t an “end-of- year” move because you have until April 15, 2015, to contribute to your Roth or Traditional IRA for the 2014 tax year. Nonetheless, the sooner you get extra dollars working for you in your IRA, the better. You can put in up to $5,500 to your IRA (or $6,500 if you’re 50 or old- er) for 2014. If you are self-employed, or run a small business, you also have un- til April 15 to contribute to a retirement account, such as a SEP IRA or a SIMPLE plan. In addition to helping you build resources for retirement, these types of plans can offer you some tax advantages — so if you haven’t established a retire- ment plan yet, consult with your finan- cial and tax professionals
•Sell your “losers.” If you own in- vestments that have lost value since you purchased them, you can sell them before 2014 ends and use the tax loss to offset some capital gains you may have earned in other investments. If you don’t have any capital gains, you can use up to $3,000 of your tax losses to offset other ordinary income. And for a loss greater than $3,000, you can “carry over” the excess and deduct it from your taxes in future years. If you still liked the invest- ment that you sold at a loss, and you want
to keep it in your portfolio, you could re- purchase it, but you’ll have to wait 31 days to avoid violating the IRS’ “wash sale” rules. Keep in mind that these sug- gestions only apply to investments held outside your employer-sponsored re- tirement account; you can’t take a tax deduction on capital losses in a 401(k) or similar plan.
•Evaluate your 401(k) investment mix. You may be able to adjust the in- vestment mix in your 401(k) as often as you like. So when evaluating your 401(k), make sure your holdings aren’t concentrated in just a few investments, and try to determine if your portfolio is still appropriate for your risk tolerance — not too aggressive or too conservative. Also, if your plan offers a “Roth” option, consider taking advantage of it — with a Roth, you won’t be able to deduct your 401(k) contributions from your taxes, but once you retire, you won’t be taxed on your withdrawals.
•Review your insurance coverage. If you’ve experienced any changes in your life in 2014 — new spouse, new child, divorce, new job, etc. — you may need to review your life insurance coverage to make sure that it’s still sufficient for your needs and that you have the correct beneficiaries in place.
By making these and other moves, you can say a fond farewell to 2014, knowing that you’ve done what you could to help bolster your financial posi- tion — for 2015 and beyond.
Edward Jones, its employees and fi- nancial advisors are not estate planners and cannot provide tax or legal advice. You should consult your estate-planning attorney or qualified tax advisor regard- ing your situation.
HAPPY FATSGIVING
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Jesse Rigler is a financial advisor at Edward Jones in Kalispell.
Introducing your construction loan team
As one of the largest lenders in the region, we’re ready to help you open the door to your new home.
*One bike per person *Same day pickup & return *Limited availability *Through November
KIDS BIKES
Extended layaway for Christmas bikes
DANIEL JAMES
Loan Originator ID 806895
[email protected]
406-751-2573
BRIAN PELC
Loan Originator ID 707819
[email protected]
406-751-2574
2 MAIN STREET | KALISPELL
visit your local branch or firstinterstate.com
Name: Beacon Business - Construction Loans Size: 4.74” x 2.87”
Ink: Color
For a full list of services please visit us at:
406.257.5808
214 1st Ave. W • Kalispell, MT Monday-Friday 10-6 • Saturday 10-5 [email protected]
www.dickersoncounseling.com