The Securities and Exchange Commission and the Financial Industry Regulatory Authority warn investors who may have lost money on a speculative security to be on the alert for "follow-on" frauds. These include being contacted by an official-sounding company promising to help you recover your lost investment, and requesting an up-front fee to do so. Be aware that in most cases, you can attempt to recover your lost investment on your own, at little to no cost.
Friday, October 28, 2016
Tuesday, October 25, 2016
According to a survey by a U.S. national bank, 78% of couples who talk at least once a week about finances are happy or extremely happy with their partners. If making time for the "money talk" could improve your relationship, why not establish a habit of discussing finances and setting financial goals? Contact us at (518) 798-3330 for suggestions about how to get started.
Friday, October 21, 2016
The U.S. Department of Labor updated the rules for paying overtime, and the changes take effect December 1, 2016. Under the new rules, salaried employees who earn less than $913 per week ($47,476 per year) will be eligible for overtime pay. That's double the annual exempt amount of $23,660 under current rules. Begin reviewing your payroll policies now to avoid penalties and fines for noncompliance. One important step is to start tracking hours for your salaried employees.
Tuesday, October 18, 2016
Don't let penalties for underpaid taxes increase your tax bill next April. Check the total you've paid in for 2016 through withholding and/or estimated taxes. If you've underpaid, consider adjusting your withholding for the final months of the year or increasing your remaining quarterly estimate. If you employ household workers, be sure your calculations include the payroll taxes you'll owe for them. Remember to include the 3.8% tax on net investment income in your planning, too.
Friday, October 14, 2016
The IRS has again issued a scam warning. The newest scam involves receiving via email a fake version of an IRS bill related to the Affordable Care Act. The bill requests payment by check or by clicking a link in the email. Remember, genuine IRS notices do not come to your email, and do not request online payment. Email safety tip: Always verify the sender before opening attachments or clicking on links. Whenever you receive communication from the IRS, contact us at (518) 798-3330. We'll help you sort out what you need to do.