Tuesday, May 29, 2012
Three students from around Metro Detroit stood out above 650 applicants for the inaugural scholarship offering from Bloomfield Hills Financial.
Three Metro Detroit teens were recently named recipients of the first Stock to Scholarship Challenge sponsored by Bloomfield Hills Financial. Mercy High School senior Margaux Kabodian was the first-place winner, netting $5,000 toward her college education. The Novi resident plans to attend Albion College in Albion this fall. Second place winner Christopher Kolzer, a sophomore at Plymouth High School, earned $2,000 for his education, and classmate Kyle Bone, received $1,000. Both of them are eligible to compete and win future scholarships. Each student received access to an online personal stock market account seeded with $100,000 in virtual cash to purchase stocks. They could trade stocks from their portfolio at will with the goal to …
Wednesday, April 11, 2012
Kevin VanDyke of Bloomfield Hills Financial lays out some more deductions you and your accountant won't want to miss.
Editor's Note: This is the last of a two-part series identifying some key areas to remember before you file that tax return for good. Miss Tax day is April 17 and Kevin VanDyke, president of Bloomfield Hills Financial, with the help of Kiplinger's outlined these areas to keep in mind when filing this year. Even more important, in the year you pay off the loan -- because you sell the house or refinance again -- you get to deduct all as-yet-undeducted points.
Wednesday, April 4, 2012
Bloomfield Hills Financial's Kevin VanDyke lays out some important deductions you should consider before it's too late.
Tax day is April 17, and Kevin VanDyke, president of Bloomfield Hills Financial, with the help of Kiplinger's outlined these areas to keep in mind when filing this year. Dividend Reinvestment - Most investors have mutual-fund dividends automatically invested in extra shares, remember that each reinvestment increases your "tax basis" in the fund. That, in turn, reduces the taxable capital gain(or increases the tax-saving loss) when you redeem shares. Forgetting to include the reinvested dividends in your basis results in double taxation of the dividends -- once when they are paid out and immediately reinvested in more shares and later when they're included in the proceeds of the sale. Don't make that costly mistake. If you’re not sure what …