As the song says, "It's the most wonderful time of the year," but amid the hustle and bustle of the holidays, it's worthwhile to remember this is also a great time of year to take stock of your investments, and see what options you have before January 1 to reduce the taxes you'll owe come April 15. Here to explore year-end tax strategies that could allow you to keep more of your money are David Foster, senior vice president at Foster and Motley, and local financial advisor Chris DeSimio. If you have questions about what you can do to reduce your taxes, please let us know.
Last week, U.S. stocks had their worst one-day drop since February as traders worried about weak corporate earnings and the looming end of economic stimulus from the Federal Reserve. In mid-July, the Dow Jones was over 17,000; by last Friday it had dropped to just under 16,500. We look at the recent volatility in the stock markets, how it affects the average investor, and what those who see their retirement accounts losing value should do.
Michael K. Farr, president and majority owner of investment management firm Farr, Miller & Washington LLC, is a contributor for CNBC television, and has appeared on networks and shows including “The Nightly Business Report,” CNN, BloombergTV, and Reuters. He discusses the current investment outlook with Chris DeSimio and Mark Heyne.