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Leaving Your Current Financial Advisor—It’s Okay to Say Goodbye

Jul 3, 2019 4:29:00 PM / by Jason Shaw posted in Financial Planning

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If you’re considering leaving your current financial advisor, you’re not alone. A 2015 study by Spectrem Group found that most respondents with a net worth of over $100,00 have changed advisors in their lifetimes. There are several reasons you might be considering making a switch, but how do you know it’s the right decision? Finding the right advisor requires investing the time to research candidates, and transferring management of your portfolio to a new advisor can come with a tangle of red tape. Here are some sound reasons to change financial advisors. 

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What Is the Best Age to Start Saving for Retirement?

May 29, 2019 3:03:00 PM / by Jason Shaw posted in Financial Planning, Retirement

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If you're thinking about retirement and the money you'd like to save up ahead of time, there are a few tips on when--and how--to get started. 

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5 Benefits of Having Tax and Financial Services Under the Same Roof

May 17, 2019 2:52:00 PM / by Jason Shaw posted in Financial Planning, Tax Services

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Tax planning and preparation is an essential part of an overall financial plan. To make the most of your income and assets, it’s important to consider the tax implications of every financial move you make. Likewise, an understanding of the wide range of investment choices available is beneficial in the effort to keep your tax obligations to a minimum. 

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What Tax Benefits Can I Claim When Adopting a Child?

Mar 10, 2016 3:00:03 PM / by Jason Shaw posted in Tax Benefits

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 If you recently adopted a child or are currently in the process, you may be able to claim tax benefits for the costs associated with your adoption efforts. Here are the basics on how to qualify and what costs you may be able to claim.

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Divorce Raises Questions About Your Tax Return

Feb 26, 2016 1:10:32 PM / by Jason Shaw posted in Uncategorized

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If you are in the midst of a divorce, or if your divorce was finalized in 2015, your tax return will require extra attention this year. It’s important to consult with a qualified tax professional to ensure that your return is completed properly and accurately and that you claim all of the tax benefits to which you are entitled.

Below are just a few of the questions that your recent or pending divorce may raise about your return.

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When Do You Need to File Form 1099-MISC?

Feb 2, 2016 3:04:03 PM / by Jason Shaw posted in Uncategorized

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If you pay someone who is not your employee in connection with your trade our business, you may be required to file Form 1099-MISC to report these payments. If you’re unsure whether you need to submit a 1099-MISC for expenses you’ve paid, these guidelines will help you decide.

Generally speaking, you must file a 1099-MISC and provide a copy to the recipient of payments

  • To someone who is not your employee
  • Who is an individual, partnership, or estate (or in limited circumstances, to a corporation)
  • In an amount of at least $600
  • For services in the course of your trade or

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Filing Taxes for the First Time? Here’s What You Need to Do.

Jan 15, 2016 1:25:36 PM / by Jason Shaw posted in Uncategorized

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tax, finances, technology, home and happiness concept - smiling young woman with papers, laptop computer and calculator at home

Filing taxes for the first time doesn’t have to be intimidating. Doing it right does require a certain amount of focus and organization, however. Taking these steps will help you to ensure that your first tax return is accurate and complete.

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Keep an Eye Out for Form 1095

Dec 28, 2015 2:29:11 PM / by Jason Shaw posted in Uncategorized

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If you or some members of your family had health insurance during 2015, you’ll want to keep an eye out for Form 1095, which should arrive in the mail sometime in early 2016. Make sure to keep this form with your W-2s and other income tax forms that your tax preparer will need.

Depending on what type of health insurance you had or were offered during 2015, you will get one of three 1095 forms.

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How Your New Child May Affect Your Taxes

Dec 12, 2015 2:23:40 PM / by Jason Shaw posted in Uncategorized

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You’re welcoming a new child into your family. Congratulations! This young person will bring many things into your life – joy, frustration, love, anxiety, additional costs, and, thankfully, additional tax benefits. Here are some of the ways your tax return may change this year:

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Using the Simplified Method of Calculating the Home Office Deduction

Dec 9, 2015 2:54:26 PM / by Jason Shaw posted in Uncategorized

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Prior to 2014, taxpayers who wished to claim the home office deduction had to fill out a lengthy form (Form 8829) and often make complex calculations in order to do so. In an effort to lighten the burden on small, home-based businesses, however, the IRS introduced a simplified method for taking the home office deduction, which became available for the first time for tax year 2013. This new, simplified method makes it easy to claim the home office deduction to which you’re entitled.

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