March 2019 E-Newsletter



Tips to Protect Yourself From Tax Scams
Too many people downplay the threat of identity theft because it hasn't been witnessed or experienced firsthand. This false sense of security can leave you exposed, especially during tax season. Here are some tips to keep your identity safe from scammers:

How to Correct Common Financial Mistakes
You're working at the office, getting stuff done around the house, or hanging out with family when — wham! — a phone call, email or text alerts you that something is wrong with your finances. When a negative financial event hits, don't let it take you down.

7 Tax-Free Ideas to Bolster Your Business Benefits Package
The benefits package offered by your business is extremely important to your employees. How important? A survey performed by the Society of Human Resource Management (SHRM) found that benefits are directly tied to overall job satisfaction for 92 percent of employees.

5 Things Every High School Senior Should Know
As the school year rolls into February, suddenly the realization sets in that high school seniors only have a few months left before graduation. Here are five things each graduate should understand before their big graduation day:


  • Income Tax Preparation for all types of businesses and individuals
  • IRS, State and Local Audit Representation
  • Trust, Estate and Gift Compliance
  • QuickBooks setup, support and training
  • Business startup services
  • Monthly bookkeeping
  • Financial statements
  • Family Office
  • Nonprofit Administration

Additional Updated Information

February 2019 E-Newsletter

January 2019 E-Newsletter

March 2019 Q & A

Q: I have a life insurance policy that names my son as beneficiary. Do I also need to include this policy in my will?

A: It wouldn't hurt anything, but no you don't. That's because life insurance beneficiary designations take priority over terms of a will, even if they differ. In fact, the same holds true for the beneficiary designations of retirement plans and annuities. This is a good time to remind you that you should keep all your beneficiary and contingent beneficiary designations up to date. If you're interested in your beneficiaries getting the most from the benefit without triggering estate taxes or you want to avoid the public glare of probate, you might consider putting the life insurance policy in a trust.

Q: My wife and I had investment losses in 2018 and would like to deduct them on my tax return. How much am I allowed to deduct for last year and going forward?

A: You can deduct up to $3,000 (for joint filers, $1,500 for single filers) of net capital losses from your taxable income on your tax return. You may also carry over excess losses to the next tax year. Remember that long-term capital gains or losses are those on investments owned for more than one year.



The Federal Reserve Bank of New York's Center for Microeconomic Data conducts a monthly survey of consumer expectations for the future. It found that in November 2018, for the eighth straight month, consumers expected an overall 3% inflation rate a year later. However, consumer expectations for home prices decreased 0.2% to 3.1%, and earnings' growth expectations fell for the second straight month to 2.0%, from 2.5% in October.


The Bureau of Labor Statistics reports that non-farm labor productivity rose 1.3% from the third quarter of 2017 through the same period in 2018. This reflects a combination of hours and real productivity growth. The increase includes a 2.3% increase in hours worked and a 3.7% increase in output.


In September of 2018 there were more job openings than unemployed people. There were 7 million job openings at the close of September 2018, while there were only about 6.1 million unemployed people. During the first eleven months of 2018 the number of unemployed persons per job opening ranged from 0.9 to 1.1. This is a dramatic drop from July 2009, when there were 6.6 unemployed persons per job opening.


Healthcare is increasingly expensive and viewed by many Americans less positively on a national level. However, most people like their own healthcare and insurance coverage. These are the findings of a November 2018 Gallup Poll of 1,037 adult Americans. Eight of 10 survey respondents rated their healthcare quality as excellent or good, and 69% gave their coverage the same grades. Just 55% viewed healthcare in general positively, and only one in three thought positively about coverage nationally.

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