Posts by Dan Madden, CFP®
Student Question of the Week: Income Tax – Gross Income Calculation
Student Question from: John C.Course: Income Tax – Gross Income Calculation Student Question: Hi. I just wanted to verify that the employee premium in the example below is not prorated between the “tax-free” and taxable insurance coverage. And, if it’s not, why? Here is my calculation: 5 x 4.5% + 7 *0.5 % = 26%…
Read MoreStudent Question of the Week: Income Tax
Student Question: Student Question from: John C. Course: Income Tax Question: I had a quick question about taxpayer return penalties. In the Review Exercise below, I’m getting an answer of $780, but you all are showing an answer of $810. Why isn’t my math adding up? I’m counting 7 months for April to October. Here is…
Read MoreStudent Question of the Week: Fundamentals – Calculator
Student Question from: Susan M.Course: Fundamentals – Calculator Student Question: In example 3 (shown below), why do we use monthly instead of annual for the interest and period of time? Example 3: Bill wants to purchase enough life insurance to provide his family with an inflation-hedged income of $4,000 per month for 25 years. You…
Read MoreStudent Question of the Week: Insurance
Student Question from: Jacky ACourse: Insurance Student Question: It says here that “Most policies will guarantee that the death benefit will never go below the face amount.” I thought that the death benefit and face amount are interchangeable terms. Is the death benefit equal to the face amount plus the cash value? Instructor Response: Very…
Read MoreStudent Question of the Week: Income Tax
Student Question from: Rachael GCourse: Income Tax Student Question: I had a couple questions in regards to tax filing penalties. 1) Since the penalty is calculated from net tax due, what happens when a taxpayer overpaid taxes and gets a refund? How is the penalty calculated? 2) Is the minimum penalty after 60 days on…
Read MoreStudent Question of the Week: Estate Planning – Gift Tax
Student Question: Question: What would happen if a person used the maximum lifetime gift exclusion of $5,120,000 in the year 2012. But the person dies in the year 2015 assuming the limit dropped to a lower amount like 1 or 2 million? The lifetime amount gifted would be higher than the current limit. Instructor Response: Answer: …
Read MoreNOTICE: CFP Program Annual Course Updates
In the next 6 days, we will be introducing updates to both the Estate Planning and Retirement Planning courses, in that order. The updates will center on 2012 inflation adjustments. To ensure your success, if you are close to taking an exam, you will see an “Updates for the Course Midterm/Final Exam” link above the…
Read MoreCFP Board Promoting the CFP® Certification
In the past few years, through extensive research, the CFP Board identified a need to better educate the general public about the need for financial planning and the unique advantages that can be provided by CFP certificants. In response to this need, the CFP Board has undertaken a large advertising and awareness effort to inform…
Read MoreWe All Learn Differently
Styles of Learning: Online vs. In-class Visual vs. Auditory Self-paced vs. Scheduled In our normal conversations with both prospective students and current students, it is abundantly clear that we all learn in different ways. That was brought very clearly to my attention in two phone calls I had one afternoon. The first student, whom we…
Read MoreTop Cities for Finance Jobs
Even in this difficult market, the demand for qualified financial professionals doesn’t change. Both the consumer and firm are continually seeking individuals who can bring proven knowledge and application – the kind found in the CFP® Certification. And if you happen to be living in or near any of the 10 cities listed in a recent…
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