WORDHOUSE
—— ———WEALTH COACHING—— ——
January 2008 Advisory Fees 1040 Worksheet
One of the benefits of working with a Fee Advisory firm is being able to deduct your Advisory Fees. To make sure you claim all your advisory fees on your 2007 taxes; please use this worksheet and put your 2007 Total on your Federal 1040 under Miscellaneous Deductions. You will need both your Trust Company of America (vertical) and your Matrix (horizontal) statements, both dated 9/30/07, to finalize the calculations.
1. Enclosed is a report of the Matrix management fee you paid on your account(s). If you paid your fees with a credit card, your management fees do not show on our report. You’ll need to include that total here. Please refer to your 12/31/06, 3/31/07, 6/30/07 and 9/30/07 statements to confirm the correct total of fees. (Your year-end fees are charged in the following January and therefore are deductible on the following year’s taxes.)
$______________ Total Matrix Management Fees
2. If you have a People’s Benefit annuity, you will go to your MATRIX CLIENT ACCOUNT DETAIL REPORT for each of your Variable Annuities, and locate the Year-To-Date Withdrawals, which will be your Annual Fees. If you withdrew additional monies, those amounts must be deducted from this total first. If you paid your fees with a credit card, please refer to your statements for the total.
$______________ Total Advisory Fees for all Peoples Benefit annuities
- If you sold any stock, the costs incurred by placing the trades are deductible. You would either have paid a broker commission or a trade cost through a brokerage firm. Check your brokerage account statement for these costs.
$______________ Total Commissions/Trade Fees for all stock sales
- Some Inland American and Inland Western REITS have 1% Advisory Fees that are taken from your dividends. Go to your dividend statements and total these numbers.
$______________ Total Advisory Fees for REITS
- Add up all the personal checks you wrote to Wealth Advisors Group (WAG) for Wealth Coaching, Retirement Management, Oil & Gas, Real Estate Investment Trusts, TD Ameritrade, etc. where you paid the Registered Investment Advisor (RIA) fees directly. These you will find in your checkbook register. Most likely any check written to WAG is a deductible advisory fee.
$______________ Total Advisory Fees paid directly to WAG
- Please add any other Advisory Fees paid to other entities: TD Waterhouse, Renaissance Administration for Charitable Remainder Trust (CRT) fees, etc. These fees you will find on your quarterly statements from those companies. Not all companies have end of year totals, so add up the quarterly statements if necessary.
$______________ Total Advisory Fees paid to others.
$_______________ Total for 2007 Investment Advisory Fees
