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Tax-efficient fund placement is an issue facing investors holding both tax-advantaged and taxable accounts. The tax code recognizes different sources of investment income which are taxed at different rates, or, are taxed at a later time (tax "deferred"). An asset's tax efficiency (the impact of taxes on an investment) is affected by both its expected return and the tax rate on such return.
All investors must pay their fair share of taxes. This article describes how to minimize taxes through appropriate placement of investments in tax deferred or taxable (pay taxes now) accounts. (more...)
This week in financial history
- 1935 - The Social Security Act was signed into US law; establishing the Social Security Administration. Source: Social Security Act
- 1989 - Vanguard introduced small cap stock indexing in the US market by converting Naess & Thomas Special Fund into an index fund based on the Russell 2000 Index.
- 1983 - The Washington Public Power Supply System (WPPSS) made one of the largest municipal bond defaults (2.25 billion dollars) in U.S financial history on August 19, 1983. A 1988 settlement rendered some investors 40 cents on every dollar invested; other investors received 10 cents on the dollar. Sources: Bank asks Debt Payoff, NY Times; Washington Public Power Supply System (WPPSS), HistoryLink.org
- 1996 - The Small Business Job Protection Act of 1996 enacted the creation of the Savings Incentive Match Plan for Employees Individual Retirement Account (SIMPLE), a contributory retirement plan for US small business employees. The Act (in Sec. 1806) also exempted a qualified State tuition program from taxation. These qualified tuition programs were to be called 529 plans, because 529 is the section of the Internal Revenue Code that governs their operation.
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