The equity market is down big today based on concerns of the coronavirus and its impact on supply of goods. Amazon is worried about Prime Day – i.e. Grappling with coronavirus outbreak, they are already taking steps to avoid supply-chain disruptions in China. While it can be seen how this would cause a reaction in the market,
Market activity over the past few weeks has been dominated by reactions to developments in the spread of the coronavirus. It’s reminiscent of how the market responded late last year to the yin and yang of news on progress in the trade talks with China. Even the flimsiest hint of good news could launch the averages higher. When the occasional splash of bad news hit,
By Chris Whiting, CFP®, Executive Vice President, Director of Sales and Marketing
Many people use or are considering hiring a tax professional to help prepare taxes. There can be many great reasons to partner with a tax specialist: perhaps you have a complicated tax situation, own your own business, had a major life event, or just would like an expert to help you navigate our complex tax code. Ultimately, a tax professional can help ensure you’re filing an accurate and timely return while minimizing taxes.
By Theresa Fry, Senior Vice President and Manager, IRAs, Retirement and Education Planning
With tax season in full swing, it’s that time of year when your daily trip to the mailbox likely includes tax form after tax form. If you have taken distributions from an IRA, one of those forms will be Form 1099-R. Receiving a 1099-R for your IRA doesn’t necessarily mean your distribution will result in a tax liability.
As the tax deadline approaches, you may be trying to determine the best time to file your taxes. Should I focus my attention on it now or relax and wait until it gets closer to April 15th? It probably comes as no surprise to you that there is no simple answer to this common tax season quandary.
In last week’s article, “I’m Not as Sick as I Look,” I suggested that the damage in the market in the previous week was perhaps not quite as bad as that weekend’s headlines made it sound. Markets in the U.S. had succumbed to a nauseating plunge on the previous Friday. Financial markets around the world were suffering the effects of concern over the spreading coronavirus.
By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies
Like they say, there’s two things for sure in life, and one of those ramps up this time of year. That’s right, its tax season once again. Most tax laws have remained constant (a rarity in the last few years), but there are some changes in effect as well. In an effort to help you prepare for this year’s tax season we will once again publish our “Tax Tip Tuesdays” blog series over the next 11 weeks.
The stock market was in the peak of health through the first three weeks of the year. In fact, it had chalked up a 15+% gain from early-October to its high just after mid-January. But it was beginning to look a little green in the gills the following week when news of the widening coronavirus outbreak infected the averages. Its condition worsened considerably last week,
The stock market was in the peak of health for the past several months. Since coming off its early-October low in the mid-2800s, the S&P 500 Index (SPX) made a new high later that month and continued its merry jaunt into the low-3300s by mid-January. The result was a fairly spectacular gain to date of about 16% in just three months. Unfortunately,