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Video instructions and help with filling out and completing taxes on bonds when cashed in
How's it going everybody this is beat the bush today I'd like to introduce you to a class of assets that you should really know about now what I'm talking about is tax-free municipal bonds for whatever state you're living in you're likely to be able to buy municipal bonds in your own state that will make it tax-free for California for example you can buy stock ticker symbol P CK which is a municipal bond now the current price on this in April 2007 is actually about nine dollars and 81 cents every single month you hold this share you're actually gonna get four point seven three cents every single month this translates to every single year you're gonna get fifty six point eight cents a year if you look at the history they do give the payout pretty consistently and if you work that out it's five point seven eight percent so fifty six point eight divided by 9.81 it works out to be five point seven eight percent now the critical and really good thing about this is that if you're a working full-time person let's say you make 50k a year you are in the twenty five percent tax bracket now this money that you earn here is actually tax-free so you actually have to earn something a lot bigger if you bought it in a normal stock and got a dividend where you have to pay taxes so to figure out how many percent you would be gaining from an actually tax dividend you do a one minus 0.25 over here you get seven point seven percent now seven point seven percent is pretty high for a dividend and for that type of dividend you usually get a little bit higher risk now imagine you have ten thousand dollars and you want to invest it somewhere well California municipal bonds is a pretty good way to go because if you invest ten thousand dollars every single year you're going to get five hundred and seventy nine dollars this is pretty nice for not doing anything at all and this is actually tax-free tax money you would have had to earn seven hundred and seventy dollars and then you take off twenty five percent of that then you would get five hundred seventy nine so you can see this five point seven eight percent is really worth seven point seven percent before tax now before you run out and put all your money into this it does look really good but there are risks involved in the bond there could be default risk because the pck thing and any other municipal bonds actually holding a collection of bonds that have places like schools or utilities that sold these bonds to dis fund when they pay money consistently back to this fund this is the money that you're actually getting and now I did say there are principal risks to it because they could default and