Louisville Magazine

FEB 2015

Louisville Magazine is Louisville's city magazine, covering Louisville people, lifestyles, politics, sports, restaurants, entertainment and homes. Includes a monthly calendar of events.

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56 LOUISVILLE MAGAZINE 2.15 New York Life Paying Big Dividends Recently New York Life's Board of Directors voted to approve a total dividend payout to participating policyholders of $1.6 billion in 2015. Of this, individual life policyholders will receive $1.56 billion — the highest level in the company's history. For individual life policyholders, this represents a 12% increase over the 2014 level and a 31% increase since 2012. In addition to strong core life insurance operations, New York Life has other businesses — including a rapidly growing, top- tier investment management business. Tis diversifed business strategy is a key reason they've been able to increase dividends for three years running. To learn more about the many valuable products ofered by New York Life, visit www.NewYorkLife.com or contact the local ofce: (502) 420-2063. Dan Santos, Sr. and Dan Santos, Jr. Q: A: My family is subject to the new Net Investment Income Tax enacted with the Afordable Care Act. How can we avoid or reduce this tax? First, you might try reducing your modifed adjusted gross income (MAGI) below the threshold amount so you won't be subject to the tax. Each fling status (single, married fling separately, married fling jointly, head of household) has diferent thresholds. You can also reduce your MAGI by making additional contributions to a qual- ifed retirement account (such as a 401(k) or 403(b) plan) or a health savings account. If you can't lower your MAGI below the threshold, you could reduce your taxable investment income by making tax- free investments, such as municipal bonds. — Amy Stuber, Vice President & Wealth Planner, Hilliard Lyons Special Advertising Section Familiar Faces at Accredited Wealth Management New frm, same excellent service and results! Q: A: What is a mutual insurance company? A mutual insurance company, like New York Life, is not publicly traded. Instead, policy holders share in ownership of the company. Customers who purchase certain "participating" products — such as whole life insurance — are entitled to vote in the board of directors' elections and share in any annual dividends that are declared. Tese policy holders expect that the company's priority is to safeguard their interests. Being a mutual allows us to maintain our focus on serving our policy holders by delivering high-performing whole life insurance policies through the best-trained fnancial professionals in the industry. — Daniel B. Santos, Jr., CLU, MA , Agent, New York Life Insurance Company Q: A: At Republic Bank, you can deposit checks anywhere, anytime with four simple steps using our iPhone, Android or iPad app: 1. Select "Deposit Checks" from the Mobile App Home screen 2. Select the account and enter the amount 3. Snap a photo of the front and back of the check 4. Tap the "Deposit Check" buton and receive confrmation. To begin using Mobile Deposit, you'll need to download the app from www.republicbank.com. Mobile Deposit is free although message and data rates may apply from your wireless carrier. Usage and qualifcation restrictions apply. — Michael B. Sadofsky, CFMP, Senior Vice President, Chief Marketing Ofcer, Republic Bank Can I deposit a check from my cell phone? Steve Giacobbe Shawn Clark Steve Giacobbe, CFA, CFP®, is a founding partner of Accredited Wealth Management (AWM) and a highly regarded expert in investment management. He previously served as the chief investment ofcer for two leading investment frms over the past 20 years. Shawn Clark is a founding partner and has over 12 years of experience managing investments for individuals and institutions. Steve and Shawn previously worked with a Top 10 local investment frm. Tey founded AWM to provide clients a beter way to invest and manage their wealth. AWM is an independent registered investment advisory frm dedicated to providing clients with objective, confict-free, comprehensive and practical advice. For a beter way to manage wealth call AWM: (502) 290-1905.

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