Great answers start with great questions.
What does Tannery & Company do?
At Tannery & Company we don’t just help people manage their investments, we like to help them plan the rest of their lives. We want to help you become “Financial Olympians.” From your cash flow to your risk tolerance to figuring out if that company 401k is really benefiting YOU. We will show you how to send the kids to college, help your aging parents, and how you can retire when YOU are ready. Remember, it all starts with a plan.
How long has Tannery & Company been in business?
Tannery & Company was established on December 2, 2001, which also happens to be the wedding anniversary to Michael and Tina Tannery, who are the founders of the company. The freedom to work together as independent financial advisors was the driving force behind the creation of Tannery & Company.
Why should I work with Tannery & Company?
We help our clients organize their finances by connecting them to everything they own, owe, earn, or spend. After analyzing your complete financial picture, we make comprehensive recommendations to help manage your current situation and get you on the road to becoming a Financial Olympian.
How does Tannery & Company get paid?
We utilize an investment Assets Under Management (AUM) approach. We believe the AUM approach best aligns our compensation with your goals. Our approach puts us on your side of the table.
How often does Tannery & Company update their clients on their portfolios?
Clients will receive a weekly email from Blueleaf, updating them on all of their accounts. They will also receive a full investment report every quarter via e-mail or traditional mail that allows them to dig into their account performance with a little more depth.
Does Tannery & Company have an account minimum?
Absolutely NOT. We believe in a relationship minimum! We value clients who have a willingness to work / partner with us.
Who can I claim as a dependent?
Most of us know you can deduct your children on your tax return, but many people forget they might be able to deduct elderly parents, significant others or other relatives who also qualify as a dependent. Do you have a relative or significant other you’ve been supporting? They may turn out to be a tax deduction if they can be claimed as a “qualifying relative.” They will have to meet certain requirements to qualify, but for each dependent you can deduct $4,000, which is likely to reduce your taxes.
Are unemployment benefits taxable?
Yes, unemployment benefits are taxable.
What are the tax implications of withdrawing money early from a retirement account?
Withdrawing money early from a retirement account comes with a 10 percent tax penalty plus regular income tax on the amount withdrawn. Watch out if that additional retirement money bumps you into the next tax bracket.
How do you find the value of non-cash charitable contributions?
You can deduct travel expenses if it’s related to volunteering directly with a non-profit organization. Many people have questions about the value of goods they donate. The rule is you can deduct the fair market value at which they would re-sell an item.
How can I learn more?
We encourage you to take time going through our website and blog, educating yourself on how we work with clients. If your philosophies align with ours, please reach out to us by clicking on the blue tab below and scheduling a meeting or give us a call at 214-239-4700.