Assume the same simple trust as above, except there are expenses for investment advisory fees and custodial fees
In addition, sales-related compensation such as commissions, 12(b-1) fees and revenue sharing must be disclosed, but reasonable and customary custodial fees
not tied to the value of a client's transactions and fees for professional services under a Turnkey Asset Management Platform do not need to be released.
On top of the management fees there are custodial fees
which are quite high; storage, maintenance, insurance etc.
These factors were mostly offset by higher technology initiative spend and lower custodial fees
Treasury Regulations section 1.212 provides for the deduction of investment-related expenses (e.g., investment supervisory services) as itemized deductions on Form 1040 Schedule A, Itemized Deductions, line 23, attributable to taxable investment income (e.g., dividends, interest, capital gains); therefore, these fees for services of investment counsel, as well as custodial fees
, represent deductions from adjusted gross income (AGI).
Investors of pension plans managed by insurance companies are significantly more sensitive about the custodial fees
paid to the custodial company than investors of pension plans managed by specialized management companies.
"If you take five per cent of market cap and custodial fees
thereon of 10-12 basis points, that's a lot at stake," said the source.
You may be able to defer deductions for things like charitable contributions; deductible investment expenses such as investment advisory and custodial fees
; and professional fees like tax planning and preparation, accounting, and legal fees.
This means no shipping, insurance, holding or custodial fees
, making it incredibly cost effective.
They will use it only for football and occasional district events, and pay maintenance and custodial fees
on those occasions.
The $8,000 in her IRA is invested in a blue-chip fund; she should roll over that money into a Fidelity IRA account to eliminate paying custodial fees
. Also, she should pay more than the minimum on her student loans--but not twice as much.
For actively managed international funds commissions, custodial fees
and operating and trading cost differences are even greater than for domestic funds.