It's probably wise for all but the wealthiest to stay away from tax sheltered limited partnerships. There are some good programs that invest in government subsidized housing units and provide tax credits. However, an investment made late in the tax year hardly benefits that year. Before you rush into one of these, do lots of comparative shopping and be very careful.
~The Perfec~ liif~
Teach your children and grandchildren to be investors. Don't give them toys or cash , give them shares of stocks or mutual funds. This gift will require ongoing attention and create a need for learning. Many of my clients today were "started out" by loving grandparents who gave them shares. It takes very little money to begin, and you can add to it at any time . Each individual can give any other individual up to $10,000 each year without having to file a gift tax return. Once again, check with your accountant before you give larger gifts. (Yes, even to family). The good thing about giving shares is that you will never have to go searching through the mall at the last minute because you couldn't find the right size.
r-he an Elf ~o ~ Your!ielf If you spend some time before the year ends studying and arranging your financial life into a systematized business plan you will give yourself and your family the best gift peace of mind . HAPPY HOLIDAYS!
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Kay Copley is an Account Executive with The Investment Centers of America, Inc. , located at the First National Bank West of Greeley. She is available in Fort Collins through Poudre Valley Bank. The opinions and recommendations expressed in this publication are those of Kay Copley alone and do not necessarily reflect the opinions and recommendations of The Investment Centers of America, Inc. , or Lydia's Style Magazine. Securities investments may involve a high degree of risk. Readers are urged to seek independent investment advice from their own financial consultants and/or tax advisors prior to making any investment in securities.
Winter 1995
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