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Retirement planning

Gary quoted in NY Post - New York City's rich are getting hit with record tax bills

On Sunday, April 14th, Gary was quoted in the New York Post in an article pertaining to how wealthy New York residents are getting hit with record high tax bills.

IRS Issues Annual List of Tax Scams

The IRS recently issued its annual list of tax scams. The list highlights various scams that taxpayers may encounter, many of which occur during tax filing season. Here are some of the scams that are highlighted on the list.

Yes, You Can Start Saving for Retirement Today

Time certainly goes by fast. One day you’re interviewing for your first job and the next thing you know you’re a few short years from applying for Social Security.

While it’s never too early or too late to start planning for retirement, when it comes to retirement savings in the U.S., later seems to be the standard. According to RothIRA.com, only 56% of today’s workers in the U.S. are currently saving money for their retirement, and 38% of those currently saving have less than $10,000 saved. With one-third of Americans admitting that they have no retirement savings at all, it’s clear that many U.S. workers will reach retirement age with little to no resources to count on.

The Bull Market Turned 10 in March

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March 9, 2019, marked the 10th anniversary of the S&P 500’s longest ever bull market run. Why is this bull market having such a long run?

Credit Cards versus Debit Cards

Most consumers typically have both a credit card and a debit card. Of course, the biggest difference between the two is that a debit card will immediately take money out of your bank account when used, unlike a credit card, which will pay for the purchase and later add the amount of the transaction to your monthly statement.

But are there any other differences between the two?

There's Still Time to Contribute to an IRA for 2018

Even though tax filing season is well under way, there's still time to make a regular IRA contribution for 2018. You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2018 ($6,500 if you were age 50 or older on December 31, 2018).

Four Budget Myths Debunked

The New Year is a great time to reassess saving and spending habits and put new goals in place. To do so requires creating a formal process to succeed—and that means developing a budget. You may already have a budget, but are you taking full advantage of it? Chances are it may need a little dusting off or refresh.

2019 Retirement Plan Contribution Limits

Maxing out your retirement account contributions can be a smart financial move not only to help reduce your tax bill, but also to ensure you're setting aside enough money for the future. But do you know how much you're allowed to contribute?

How can I get a tax break for child care?

More than 60% of children under age six in the United States have two parents in the workforce. 1 Many of these working parents must spend a burdensome share of their earnings on child care, especially if they don't have relatives who are willing and able to help out.

Due Date Approaches for 2018 Federal Income Tax Returns

Tax filing season is here again. If you haven't done so already, you'll want to start pulling things together — that includes getting your hands on a copy of your 2017 tax return and gathering W-2s, 1099s, and deduction records. You'll need these records whether you're preparing your own return or paying someone else to prepare your tax return for you.

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Gary Nagel, Dennis Spratt and James Powers are Registered Representatives offering securities and advisory services through Geneos Wealth Management, Inc., Member FINRA/SIPC, a registered broker-dealer and registered investment advisor. This communication is strictly intended for individuals residing in the states of AR, CA, CO, FL, IA, IL, KS, MA, MD, MI, MO, MN, NC, NE, NM, OK, TX, VA, and WA. No offers may be made or accepted from any resident outside the specific state referenced.

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