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Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and in the U.S., which it
awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

 

PLAN.INVEST.RELAX

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The Advisory Firm Newsletter:  August 2013

THIS MONTH IN PERSONAL FINANCE: Georgia Ad Valorem tax, I-Bonds, Personal Inventory list & New Mortgage rules

 

As we move into the tail end of Summer, I have decided to try something a little different with this monthly financial planning e-newsletter. Every month for the past several years I have tried to come up with interesting topics for you guys, but it can sometimes get difficult to get the creativity flowing. So for the time being I'm going to post more on the blog site as I come across interesting financial topics and then summarize those in this newsletter for a quick read.

 

Did you purchase a car in 2012?:

By now all Georgia residents should be aware that you will pay a one-time Title Ad-Valorem tax on any new or used vehicle when you go to get a tag. This means no more annual ad-valorem tax but a one time 6.5% tax when you apply at your county tag office (unless you purchase through a dealer and it is part of the transaction costs).

What you may have overlooked is if you purchased a car in 2012 you can "opt" in for this and have your sales tax applied to the Title Ad-Valorem Tax and never pay the annual ad-valorem again. But you have to take certain steps.

Here is the blog post to learn more: www.marriedtoamiser.com/?p=338

 

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an I-Bond isn't a new Apple product:

So when is the last time you actually thought about a savings bond? After fielding a few client questions about savings bonds, and specifically I-bonds I put together a blog last week to explain the difference in an I-Bond and a Treasury Inflation Protected Security (TIP). If you have some excess cash that needs to stay safe and preserve some purchasing power, this might be a tool for you.

Here is the blog post to learn more: www.marriedtoamiser.com/?p=347

 

Death and Taxes

Talking about estate planning is probably the equivalent of going to the dentist for most folks (apologies to any dentists out there). I understand it isn't fun but it is a necessary part of your financial plan. If you have ever settled a loved ones estate you know that it can be quite a bit of work to figure out their entire financial life. In the process of reviewing one of my client's estate plans recently, I noticed that they had created an add-on document that basically gave directions to anyone that would be settling their estate along with details of their entire financial life. I thought that this would be a valuable document to share with everyone, so with permission from my client I scrubbed the document and linked it to a blog post: www.marriedtoamiser.com/?p=354

 

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New Mortgage Lending Rules?

Most are aware that after the great recession Congress went to work in their usual reactive ways and created the Consumer Financial Protection Bureau (CFPB) to protect us from ourselves, at least when it comes to all things financial related. Coming in January the CFPB will institute new mortgage rules which will cap debt/income ratios for qualifying for a mortgage, and effectively get rid of interest only and 5/1 arms. You can read more here: www.marriedtoamiser.com/?p=345

 

James Daniel, CFP®

Have a great Summer!

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The Advisory Firm, LLC provides fee-only financial planning services for clients throughout metro Atlanta and North Georgia including the communities
of Alpharetta, Canton, Cumming, Dawsonville, Duluth, Dunwoody, Marietta, Midtown, Roswell, and Woodstock.

This newsletter if for informational purposes only. The information contained within should not be considered as financial advice nor soliciation
for financial services. Consult with your financial professional if you have any questions. The Advisory Firm, LLC is a fee-only financial planning company and registered investment advisor.