FiLife - Your Financial Lifeline

Your Financial LifelineTM

In partnership with The Wall Street Journal
 
 
FiLife Contributor
Kristen Sullivan
Gold

1418

FiQ Points ?

Hi – I’m a Contributing Editor at FiLife. I write and answer question about investing, asset allocation and the ways that love and money intersect.

I work with small businesses and entrepreneurs in New Orleans. In past lives I worked as an investment banker in technology, an investment consultant for large endowments and wealthy families, and as the production coordinator of an Emmy winning documentary film called Broadway: The American Musical.

I’m a graduate of Williams College and Stanford University.

Real Name:
Kristen Sullivan
Join Date:
5/12/08
Employer:
FiLife,
Title:
Contributing Editor
Twitter Handle:
kdsullivan
Favorite Investments:
ETF/Mutual Funds
Hide this user

Badges

Unlock more badges »

Following Users (53)

  • Robert Schmansky, CFP®
  • Cary Carbonaro, CFP(R)
  • Mark Kantrowitz
  • radix023
  • Belinda Yu
  • Nancy R. Mandell
  • Mike Frankel
  • Paul Kennard
  • jerrylee
  • MellowGuy
  • dean-wormer
  • Tonka Beans, CFA
  • CPsychic
  • Patricia Paul GRI REALTOR
  • Maddy
  • monelicius
  • Stacy Adamuska
  • GM
  • Danny Pinto
  • Peter J. Ilberg

View all »

Followed By (36)

  • Justin Dickinson
  • Barclay
  • Matthew Gould
  • Susie Bafico
  • Dominic Preuss
  • Ezra Kucharz
  • Eric Capper
  • Robert Schmansky, CFP®
  • Chad Smith
  • Adam Wiener
  • Daniel
  • Ben Lewis
  • Rob Berick
  • Curtis A. Smith, CFP®
  • Roger Wohlner, CFP®
  • jtboston
  • Scott Hodges
  • dougfitz00
  • Nancy R. Mandell
  • Jeff Jaye - UMBA

View all »

View:

Recent Articles by Kristen Sullivan

« Back to Profile

Bold Ways to Make Money

Wednesday Jan 21, 2009

A 22 year-old woman who goes by the name Natalie Dylan put her virginity up for sale and, according ...

What Will Barack Obama's Presidency Mean for You?

Tuesday Jan 20, 2009

As many as two million people gathered in Washington, D.C., to welcome Barack Obama into the White House, says The Wall Street Journal.

Bank of America Gets $20 Billion More

Friday Jan 16, 2009

Bank of America announced its fourth-quarter earnings earlier this morning. Youre probably not surp...

Are You Worried About Paying for College?

Thursday Jan 15, 2009

Are you worried about paying for college next year? Hate to say it, but you have good reason to b...

Sloppy Tax Preparation Can Cost You

Wednesday Jan 14, 2009

Obamas pick for Treasury Secretary, Timothy Geithner, is in trouble for failing to pay more than $3...

Three Reasons the Money Honey Should Have a Credit Card

Thursday Jan 8, 2009

Maria Bartiromo,CNBC's "Money Honey," doesnt have a credit card. "I have a debit card, but I don't...

Taxes, Taxes: Read All About Them

Wednesday Jan 7, 2009

Tax season is just around the corner. H&R Block commercials blare from our television screens...

Obama Considers $300 Billion Tax Cut

Monday Jan 5, 2009

Today The Wall Street Journal reported that Obama is considering a $300 billion tax cut that would a...

No Cease-Fire Yet

Tuesday Dec 30, 2008

Pain and havoc continue as 2008 comes to a close. Violence rages in the Middle East, global markets ...

How to Avoid Losing Your Job

Tuesday Dec 30, 2008

Mangini's Jets didn't make the playoffs and he got the boot. He's one of many coaches who are unemployed due to their teams' underperformance this winter. Unfortunately, joblessness has spread beyond the sports pages.   Employees are losing their jobs as their companies struggle in the tough economy. Thing is, the workers who ...

Page: « Prev 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | Next »

Recent Comments

Commented on: The Big Move: Guide to Moving in With a Loved One
J David Lewis
FiLife Contributor
J David Lewis said
about 13 hours ago

This is a very good article. It would probably be difficult for most to follow the suggestions to the letter. However, it should be exceptionally useful for anyone moving into a living relationship to at least be aware of these issues.

Commented on: From Booze to Boobs: Odd Tax Deductions
Nancy R. Mandell
FiLife Contributor
Nancy R. Mandell said
10 days ago

I enjoyed the article; some very good points.

Commented on: From Booze to Boobs: Odd Tax Deductions
Adam Wiener
Staff
Adam Wiener said
14 days ago

I do love wine from the Loire Valley in France, and my doctor did once say a glass of wine a day is good for me. Hmmm.

Commented on: From Booze to Boobs: Odd Tax Deductions
Julian Block
FiLife Contributor
Julian Block said
14 days ago

Kristen, your article was right on the money. Below is a more detailed account of write-offs for breast enlargements. TAX COURT ALLOWS EXOTIC DANCER TO DEDUCT BREAST IMPLANTS Just because you incur expenses for business reasons does not mean that they automatically qualify as deductible. The Internal Revenue Code stipulates that these outlays must be "ordinary and necessary" in relation to your business. Moreover, the law generally categorizes what you spend to improve your appearance, general health or sense of well-being, as nondeductible personal expenses. It should come as no surprise, then, that lots of business-versus-personal disputes wind up being resolved by the courts. A case in point is that of Cynthia Hess, known as "Chesty Love" in her show biz endeavors as an exotic dancer. The Hoosier hoofer persuaded the United States Tax Court to uphold a deduction for surgical implants to enlarge her bosom. Fade to when Cynthia, then known as "Tonda Marie," launched her topless career on the night club circuit. She was able to get gigs. But because of a hereditary deficiency, she had to settle for smaller earnings than other, better endowed ecdysiasts. (Look that up in your Funk and Wagnall’s — an admonition that those who, like me, are of a certain age, will remember as one of the running gag lines on ”Rowan and Martin’s Laugh In.”) So Cynthia's agent persuaded a willing client to undergo surgery that enlarged her bust size — first to 56FF and then to 56N. (No, those numbers are not misprints.) With humongous stats and the new stage name of "Chesty Love," she resumed performing and immediately experienced an uplift in earnings, an increase that was unquestionably fueled by chats with talk-show hosts, such as the celebrated chest connoisseur Howard Stern and Sally Jesse Raphael. Cynthia's career-enhancing move notwithstanding, her implant deduction fell flat with bluenose bureaucrats. The IRS contended that the Tax Court should characterize the outlays as nondeductible personal expenses. Get real, responded Special Trial Judge Joan Seitz Pate, who reasoned that for someone like Cynthia, top-heavy breasts are business assets and implants are a necessary "stage prop." Hence, no personal benefit derived by Cynthia from those particular implants, which, Judge Pate pointedly noted, are not the type usually sought by women seeking to enhance their personal appearance. Instead, it was Cynthia's craving for more “checks to barer” that motivated the dancer to undergo surgery that so enlarged her breasts — each weighs about 10 pounds — that her appearance became "freakish." Even worse, as Cynthia testified, she and her husband routinely endure off-color, vituperative comments from people they encounter; consequently, she has decided to have the implants permanently removed when her exotic-dancing career ends. To buttress her decision, the judge compared the implants to work clothes and uniforms, which are allowable only if they satisfy a two-step test: (1) required as a condition of employment and (2) unsuitable for everyday use. It was a cinch for Cynthia to get over the first hurdle; her large, cumbersome breasts are a "costume," needed to retain her employment as a professional exotic dancer. As for the second stipulation, the court cited Cynthia's testimony that she would remove the implants each day, were that possible. As they cause bacterial infections and other serious medical problems, her understandable preference would be not to "wear" them while offstage. VERDICT: Implants so extraordinarily large are "useful only in her business" and, therefore, deductible.

Commented on: What's a Healthcare Flexible Spending Account?
Kristen Sullivan
FiLife Contributor
Kristen Sullivan said
2 months ago

Hi Bart, Thanks for reading and making the distinction. Please note we updated the article thanks to your comment. For readers who are interested, here are links to the IRS publications Bart mentioned: Publication 969: http://www.irs.gov/pub/irs-pdf/p969.pdf Publication 502: http://www.irs.gov/pub/irs-pdf/p502.pdf All best, Kristen

Commented on: What's a Healthcare Flexible Spending Account?
Bart Turney
Newcomer
Bart Turney said
2 months ago

Actually, FSAFEDS is the branded flexible spending account program for federal employees, at participating Executive Branch agencies, and DOES NOT regulate these plans. All health care flexible spending account programs must follow the rules and regulations established in Section 125 of the Internal Revenue Code. Additional information regarding eligible health care expenses can be found in IRS Publication 502 and Publication 969.

Commented on: Don't Waste Your Money on a Show Dog
Sharon
Newcomer
Sharon said
5 months ago

People have good reason not to get puppy mill dogs -- they may have had a bad start in life in the crucial early weeks that will show up as a temperament problem later. Their background and behavior is unknown. But it's the puppy mill dogs who fill shelters, so people who tried to avoid them end up with them. Interviewing shelter personnel, they told me 85% of the dogs in their shelters are adult pit bulls. These dogs are not appropriate for every home. In fact, one woman told me that a Yorkie had been turned in at the city run shelter on Long Island, and that more than a hundred people had turned in adoption applications for her. All the shelter personnel wanted her for themselves, as sweet purebred small dogs with good personalities are extremely rare in shelters and the staff felt they should have first pick. The manager decided to hold a lottery among everyone who wanted the dog, a fair solution. It's just wrong to tell people that shelters are full of cute adorable puppies. They're not.

Commented on: Love & Loot: Telling Loved Ones You Lost Your Job
jtboston
Newcomer
jtboston said
5 months ago

Nice article, Kristen. I like Dr. Bartell's second point the best: "say it right away." It's hard to appreciate conversations when someone leads with a 20 minute prelude on "how hard it's gonna be to say this."

Commented on: Love & Loot: How to Turn Family and Friends Into Investment Capital
Susan Halligan
Newcomer
Susan Halligan said
5 months ago

I liked the insights Kristen gave about raising capital and the importance of clear expectations of investors and the continual communication piece.

Commented on: Love & Loot: Surprise! It's a Boy! Can You Afford Him?
Walt Mozdzer, CFP®Napfa_small
Expert Partner
Walt Mozdzer, CFP® said
6 months ago

We have two collies, and one of them, we discovered is blind in one eye, and his other eye isn't perfect either. It's led to continuous drops, twice a day, until the condition gets better, which is undetermined. We've also had to deal with monthly heartworm and flea treatments, high food costs, periodic vet bills for shots and other visits. Oh, and don't forget the groomer costs. There's no question that pets can be quite hard on the wallet, but they do provide a lot of affection and it's been written that they can lead to a number of health benefits including lower blood pressure. Just know what you're getting into BEFORE you head down to the local adoption center or contact a breeder. I also highly recommend that everyone research breeds of dogs or cats before making them a member of the family. Not every animal is a good fit for every family. Do your research. It's the responsible thing to do.

 
 
More FiLife
Interact
Partners

Ask questions via Twitter. Tweet any question to @AskFiLife and we will respond with an answer. More.

©2010 FiLife.com All Rights Reserved

Privacy Policy | Terms of Use