Now that the first month of 2020 is almost over, it’s time to really start thinking and working on taxes. I am sure many of us are gathering tax-related documents for 2019, as well as (should be) planning for 2020 taxes. Documents that will pour in are 1098-INT, 1099-INT and… 1099-DIV for dividends received. Today’s investing topic is about bringing awareness to Dividends and Taxes!
There are always fun wrinkles when you change employers. You cross your fingers and hope they have the same 401k brokerage, the same Health Savings Account provider, and same health insurance provider to make things easy. Unfortunately for me, I struck out on all three. After receiving my second HSA card in the mail a few months ago, I quickly became annoyed with having two accounts. So I decided to look into this further and determine if I should keep two separate Health Savings Accounts or combine the two accounts.
This year, we have rolled out our financial education series. The goal of the series is to educate investors and individuals seeking to improve their finances, whether they are just starting out on their journey or are far along. We’ve covered topics such as “What Is A Dividend?” and “Who and What Is Vanguard?” and “What is the S&P 500?” Now, we wanted to cover a topic that can save individuals on their annual taxes, provide a savings account for health expenses, and the kicker, even provide investors with some additional dividend income. Sounds great, right? There are some catches. So let’s dive in an learn what a Health Savings Account is and some of the benefits that come along with it.
I keep a copy in PDF of my portfolio every quarter, and have a deeper dive at 12/31, but this also provides a blog’d example of where I stand, so I can always refer back on the site the historical position of my portfolio. As we have done in the prior years, this post will be an overall recap of my portfolio, the contributions, dividends going forward, dividends received, what I can analyze from the current position, etc.. It’s always fun to see what the year compiled into one snapshot of all of the hard work that goes into the dividend engine. I am excited to see where it stands and what can be done going into this new year! Let’s dive on in. Continue reading
Three years and three or so months ago, my portfolio crossed the first six digit mark in it’s existence. Back in June of 2014, the dividend investment portfolio crossed $100,000 in market value. Now I never posted about the portfolio crossing $200,000, but something about $300,000 had a nice ring to it. It took me over 5 years to get to $100,000 and only 3.25 short years to triple that amount. I hope we all can take a pause to think about that for a second, as my article will be focused on HOW I was able to garner a $300,000 portfolio and how YOU can too. Check out how I was able to cross and crush through the $300,000 dividend stock portfolio mark!
By now, you have come across tens and tens, and heck maybe even one hundred sites that are dedicated to dividend investing. You have dissected the reports, seen figures that members are posting in the community, what stocks are being purchased & by whom, as well as in what dollar amounts & frequencies. If you’ve been to our website, then you have seen those items and have seen us post our income results each month and where we stand in our journey to financial freedom with the main catalyst of dividend investing. Instead of being “this thing” that investors and the community is doing, I wanted to pull a major, not the only, but a major driver from behind the curtain on the “why” we are dividend investing. To break it down in one painfully wonderful word, taxes.
Taxes. Oh taxes how I loathe you. Last year in 2016 for 2015’s tax year, you got the best of me and received a nice check at the last day possible. After that moment in Mid-April of 2016, I did not want to go down that path again. I therefore, did y researched, spent time soul-searching for days, weeks and months to come to a plan. Finally, I will say this – I believe this year I kicked Uncle Sam’s ass, and I will show you how!