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David Wattenbarger

CFP®
Personal Finance, Retirement, Investing
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“With over 18 years of experience in the financial industry, David Wattenbarger provides fee only investment management and holistic financial planning to a select clientele.”
Firm:

DRW Financial

Job Title:

President

Biography:

David Wattenbarger is the President at Drw Financial in Chattanooga, TN and has over 18 years of experience in the finance industry. He started DRW Financial as a fee-only financial advising and planning firm after working for twelve years “behind the scenes” in financial services, where he learned a great deal about how best to serve the needs of his clients.

David has found it valuable to continue learning, and earned his CFP® designation, as well as the Chartered Advisor in Philanthropy® designation, which aligns well with his desire to help clients align their financial lives with their own unique values. David's prior professional experience includes serving as a general principal, options principal, and municipal bond principal for an independent broker dealer, as well as extensive work with other financial professionals on a consultative basis.

David's personal values revolve around carving out quality time with his family and making the work he does worthwhile and valuable to his clients.

Education:

BA, College Scholars, University of Tennessee, Knoxville

Assets Under Management:

$10 million

Fee Structure:

Fee-Only

CRD Number:

4183339

Disclaimer:

INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES PRODUCT, SERVICE, OR INVESTMENT STRATEGY. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER, TAX PROFESSIONAL, OR ATTORNEY BEFORE IMPLEMENTING ANY STRATEGY OR RECOMMENDATION DISCUSSED HEREIN

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    Stocks, Taxes, Income Tax
When determining the cost basis of stocks sold, are the income taxes paid on dividends reinvested includable in the cost basis of the stock purchased with those dividends?
100% of people found this answer helpful

Your cost basis reflects your actual, net expense for the investment.  The taxes paid on dividends received should have no bearing on the tax basis.

In a scenario where you bought 100 shares of a stock at $10 per share, your basis for that lot should be $1000 total, or the $10 per share.  If the company paid a 1% cash dividend, that would produce $10 in cash for you...assuming the market price of the stock is still $10, you could use that cash to buy one additional share.  Your overall basis is now $1010 on 101 shares, or still $10 per share.  The $10 in dividend income will still be reported on your 1099-DIV and will be subject to income tax, provided the shares are held in a taxable account (as opposed to an IRA, 401(k), etc).

As always, it is best to consult a tax professional familiar with your specific case and the applicable local laws before taking action.

January 2019
    Investing, ETFs, Stocks
Is it better to invest in stocks individually or in an ETF which covers all the stocks in which I want to invest?
100% of people found this answer helpful
November 2018
    Career / Compensation, 401(k), Taxes
Will increasing my 401(k) contributions impact the percent at which my large, lump-sum bonus is taxed?
100% of people found this answer helpful
November 2018
    Real Estate, Taxes, Income Tax
If I live in one state and work in another, which state do I owe state taxes to?
100% of people found this answer helpful
December 2018
    Debt, Bonds / Fixed Income, International / Global
How is the U.S. economy impacted when China or foreign governments issue bonds in U.S. dollars?
100% of people found this answer helpful
November 2018