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Rating:Funds Can Help During Tax Time Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 8, 2004

Funds Can Help During Tax Time

by: Theresa Sim

It looks like funds can step in to help investors become more educated about taxes. According to a recent survey by Eaton Vance, most investors are interested in the tax implications of their investments, but lack understanding about the topic.

Eight in ten surveyed investors said that they examine investment statements with tax implications in mind, and 85 percent of respondents said that the tax impact on stock funds is important. Eight seven percent of respondents said that mutual fund tax implication disclosure is important.

Yet investors are unaware of tax rates and tax concepts such as the Alternative Minimum Tax. Twenty four percent of investors do not know where they fall on the tax bracket, with 14 percent of investors with investments of more than $250,000 unaware and 34 percent of investors with investments less than $250,000 unaware.

Washington, D.C.-based Penn, Schoen & Berland Associates conducted the survey for Eaton Vance in November 2004. The market research firm polled 1,000 investors nationwide who are invested in both qualified retirement plans and investments outside of plans. 

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