Philip H. Weiss

CPA, CFA
Personal Finance, Investing, Taxes
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“Phil Weiss is the founder and Principal of Apprise Wealth Management. A CPA and a CFA charterholder, he has spent his entire career working in the financial services industry.”
Firm:

Apprise Wealth Management LLC

Job Title:

Principal

Biography:

Phil founded Apprise Wealth Management. He started his financial services career in 1987 working as a tax professional for Deloitte & Touche. For the past 20 years, he has worked extensively in the areas of personal finance and investment management. Phil is both a CFA charterholder and a CPA. In addition, he has served as a featured media spokesperson and has written weekly commentary on market-related topics. His investment approach favors the long term, as well as assessing the value and fundamentals of the assets in which he invests. 

He launched his own Registered Investment Advisor (RIA) business so he could provide financial planning, personal finance, and investment management services and education to those looking for assistance. He believes it is a privilege to help others plan for their financial future. 

Phil grew up in Livingston, New Jersey and graduated from Rutgers University with a BS degree in Accounting. He also attended Duke University for three years where he was a Psychology major. 

He and his wife, Diana, live in Maryland and are proud parents of four children. Phil enjoys following his favorite sports teams, reading, and spending time with his family at home, on the fields, and when traveling. Phil continues to coach many of the youth sports teams that his children play for.

Education:

BS, Accounting, Rutgers University/Rutgers College
Duke University

Assets Under Management:

$5 million

Fee Structure:

Asset-Based
Hourly

CRD Number:

4619842

All Answers
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Do I have to pay a penalty if I don't use the profits from the sale of my house to invest in real estate?
100% of people found this answer helpful

There isn’t a penalty associated with selling your home no matter what you do with any gains. However, you could owe taxes on the sale. 

As long as you lived in the home for at least two of the past five years, you can exclude (or avoid) gains of up to $250,000 from capital gains taxes. This amount increases to $500,000 if married and filing a joint return. 

When calculating your gain on the sale of your home, don’t forget to include items such as closing costs (buying and selling), sales commissions, and any capital improvements when determining your gain on sale. If you are unsure about how to determine your total basis in your home, it would be best to consult with a tax professional or a financial planner who has a good understanding of the applicable tax rules.

I hope this helps. 

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