Key Numbers You Need To Know For 2021
Every year I compile a list of Key Numbers to serve as a reference guide for anyone in the financial industry and their clients. This is one of my most requested pieces, and you can download a copy here.
Below are a handful of numbers people ask me about most frequently.
Assets Subject to Capital Gains Tax
What assets are subject to capital gains tax? Unfortunately, “Almost everything you own and use for personal purposes, pleasure, or investment is a capital asset,” according to the IRS. [1]
Assets subject to the tax include:
Stocks and bonds A home owned...Cryptocurrency; What is it?
Cryptocurrency & Blockchain: What Are They & How Are They Related?
Last month, we talked about the factors that were driving the current bull market in the cryptocurrency space; namely the increased attention and capital from institutional investors and the improvements in technology that are empowering and driving innovations in the “DeFi”, or Decentralized Finance, sector of cryptocurrency.
But what ‘is it” exactly? What is blockchain? What is the relationship between blockchain and cryptocurrency? What does “decentralization” even mean? Why do professionals need to know about these terms and concepts? We will unpack each of these four concepts in...
Modern Retirement Theory
Welcome to the first in a three-part series on Modern Retirement Theory (MRT). Over the course of three articles, we will outline and describe why it is so important for both clients and their advisors to understand and implement MRT concepts going forward.
Modern Retirement Theory (MRT) is an area that we (Cannon) not only embrace but have expanded to include some additional concepts and processes that we feel will make it easier to implement. MRT is not to be confused with MPT (Modern Portfolio Theory). Modern Retirement Theory is a comprehensive retirement planning process created to offer customized solutions...
Trust Examinations: Their Current Focus and What This Means to You
Cannon Trains Trust Examiners
For the last twenty-five years, I’ve had the honor to train regulators from most of the relevant agencies in the U.S. on how to examine trust accounts. My students are professionals from the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve Bank (FRB), and numerous state banking regulatory agencies.
Which Regulators Examine Which Organizations
Before giving you my perceptions of their current focus areas, I want to explain which regulators examine which organizations.
OCC examines Banks and Trust Companies with National Charters and Savings Banks with Federal Charters FRB...What's Going On With Cryptocurrency?
After nearly three years since Bitcoin saw its previous high of just under $20,000 USD per coin and after two years of not hearing much about cryptocurrency on a daily basis, the fourth quarter of 2020 saw a relative explosion in cryptocurrency markets, including the stalwarts Bitcoin (BTC) and Ethereum (ETH). After the 2017 all-time highs, Bitcoin and other coins seemed to slowly fade out. Some financial analysts enjoyed comparing cryptocurrencies to other famous bubbles, most notably the Tulip bubble from the late 1700s in Amsterdam. In that example, the price far exceeded the value, and when the price massively...