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For many of us, Social Security plays an important part in our financial plans for retirement or later stage of life. Even if you’re years away from applying for benefits, there are good reasons to set up your online Social Security account

This month’s Your Money Matters newsletter features personal finance tips for military families, includes a run down on buying vs. leasing a car, shares some energy-saving tips to help you save money, and offers strategies to...

This month’s Your Money Matters newsletter features tips to selecting personal finance apps, an overview of the average American budget, a quick guide to checking if you have unclaimed money, and the pros and cons of prepaid debt cards.

Act Now To Avoid Taxes On Non-IRA Losses

David A. Younis, CFP®*

Thursday, October 27, 2022

If you have mutual fund investments in non-IRA accounts – you’re about to be taxed even though you’re losing money this year.  Fortunately, there is time to do something about it if you take action now. ...

This month features the 3 groups most stock market analysis falls into, the importance of protecting your home against flood loss, common pitfalls to avoid during a divorce, and ideas on how to stop wasting money. 

2022 has dealt a blow to the 60/40 portfolio. While losses in a 60/40 portfolio are not unusual, losses in stocks and bonds simultaneously are unusual. Since 1928, with nearly 100 years of track record,...

As part of the 2022-2023 enacted New York State Budget, Governor Hochul and the State Legislature allocated $1.2 billion in funding to the NYS Health Care Worker Bonus (HWB) program for the payment of bonuses for certain...

Our Your Money Matters Newsletter features money tips for newlyweds to prevent a rift, the real cost of a vacation home, how to make the tax code work for you, and how smart investors know to separate emotion from fact. Hope you...

After a summer rally, volatility is back in full swing. 2022 has challenged investors’ patience as almost every investment has had negative returns, with the exception of commodities, the US dollar, and cash.What’s...

The recently passed Inflation Reduction Act of 2022 includes changes to the credit available for electric vehicles. The changes are complex, and phase in over time. If you are in the market for an electric vehicle, we should review the...

This month features the great debate of active vs. passive investments, setting up your financial goals for success, some personal finance tips for military families and ways to protect against identity theft. Hope you enjoy, and as...

Our newsletter features how the right executor can help ensure the distribution of your assets with ease, a few tax rules on donating art, choosing between global and international funds, and tips for insuring your...

New Lease Accounting Standard is Finally Here

Jason Mayausky, CPA

Wednesday, July 27, 2022

After various covid related deferrals of effective dates, the Financial Accounting Standards Board’s (FASB) ASU 2016-02, and its governmental counterpart, the Governmental Accounting Standard Board’s (GASB) 87 are finally...

Our newsletter this month features buying vs. leasing a car, strategies for managing student loan debt, a brief history of estate taxes, and critical estate documents. Hope you enjoy, and as always, reach out with any questions. Have a...

This month features an overview on when to talk to your financial professional about changes in your situation, if your retiree health care coverage goes with you overseas, includes a pre-retirement checklist to give you a...

Our newsletter this month features a bucket plan to go with your bucket list, ensuring your retirement strategy anticipates health-care expenses, calculating your potential Social Security benefits, and considering when you should...

Our newsletter this month features the savings habits of America, best practices for choosing your new car, pros and cons of prepaid debit cards, and how disability can impact your financial lifestyle. Hope you enjoy, and as always,...

Key Takeaways Inflation remains an ongoing concern in 2021. While inflation is higher and likely to remain elevated due to challenges created by the pandemic, a look into the structural composition and the types of inflation may...

Thanks to healthier lifestyles and advances in modern medicine, the worldwide population over age 65 is growing. In the past decade, the population of Americans aged 65 and older has grown 35%, and is expected to reach 94.7 million in...

In a recent survey, 68% of current workers stated they plan to work for pay after retiring.1 And that possibility raises an interesting question: how will working affect Social Security benefits? The answer to that question requires an...

Key Take Aways Meme stock frenzy has once again taken hold of investors in 2021. While meme stocks have generated supersized returns, it has done so with supersized risk as well. Despite the sharp rise and possible eventual fall n meme...

Want to give your child or grandchild a financial head start? A Roth IRA might be a choice to consider. Read on to learn more about how doing this may benefit both of you. Rules for setting up a Roth IRA. If your teen has an earned...

Investment firms have a client service feature that may be a benefit to certain investors. They will ask you whether you would like to provide the name and information of a trusted contact.1 You do not have to supply this information,...

Being the victim of fraud can be devastating. When it comes to protecting credit, most people only consider taking precautions for adults. But many victims of identity theft crimes are children. Why? Their credit typically goes...

Important Birthdays Over 50 Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half“ to make sure everyone knows they’re closer to the next age than the last. When you are older...

Debt Stress The average American owes $51,900 in debt. Of that $51,900, $35,660 is from mortgage debt, $5,610 is from student loans, and $4,760 is from auto loans.1 Little wonder that money worries can be a major cause of stress. The...

New retirees sometimes worry that they are spending too much, too soon. Should they scale back? Are they at risk of outliving their money? This concern may be legitimate. Some households "live it up" and spend more than they anticipate...

Breaking down the basics. Whether your 65th birthday is on the horizon or decades away, understanding the different parts of Medicare is critical, as this government-sponsored program may play a role in your future health care...

In this episode, Jason Tabor, CFP® discusses Socially Responsible Investing. LISTEN NOW Jason meets with clients in the Oneonta and Cooperstown offices. To schedule an introductory conversation in the Oneonta office please call...

New fiduciary rules have made the 401(k) space increasingly intimidating for advisors. Recently, Tunia Mycyk, Director at AssetMark Retirement Services, spoke with several 401(k) adopters to discuss how they have overcome this obstacle...

Tette, Ingersoll & Co. CPAs, PC, a division of Allied Financial Partners, is pleased to announce its merger with Richard A Romer, CPA LLC, in order to grow its services and capabilities. Richard A Romer has over 50 years of experience...

The partners of Allied Financial Partners are pleased to announce the promotions of four dedicated employees. Tette, Ingersoll & Co., CPAs, PC, the accounting division of Allied Financial Partners, promoted Justin Bentley, CPA to...

The partners of Allied Financial Partners are pleased to welcome Sarah Gordnier who joins the administrative team working out of both the Rochester and Victor office locations. Gordnier holds a Bachelor of Science in Sociology from...

Mental Benefits Working during retirement helps maintain mental agility as you learn new skills. Staying engaged in work helps build "mental muscle," which can lessen the risk of developing dementia and Alzheimers and ward of the signs...

If your family relies on your income, it’s critical to consider having enough life insurance to provide for them after you pass away. But too often, life insurance is an overlooked aspect of personal finances. In fact, according...

Digging Into The Farm Laborers Fair Labor Practices Act

Aimee Berkemeier

Friday, August 9, 2019

The Farm Laborers Fair Labor Practices Act was signed into law in New York State by Gov. Cuomo on July 17, and no matter how you feel about the changes enacted, the time to prepare for its January 1, 2020 effective date is now. While...

Traditional IRAs, which were created in 1974, are owned by roughly 35.1 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by nearly 24.9 million households.1 Both are IRAs. And yet...

TIME VALUE OF MONEY: Why It Matters

David Younis, CFP®*

Monday, July 1, 2019

Itʼs been a little while, but if youʼve been reading along with the last few newsletters you know that we set out to cover three important basic financial concepts. Thus far, we discussed ʻsimple versus compound interestʼ and...

Defined: Active versus Passive Investing

David Younis, CFP®*

Saturday, December 15, 2018

It’s been a challenging few months in the domestic securities markets, it’s been worse abroad. We can all debate about the genesis of this turmoil, but that’s not the intent of this commentary. Instead, it’s...

Guidelines for 1099 Contractors

Jim Swiech, CPA

Friday, December 14, 2018

For employers, differentiating the relationship between a 1099 Independent Contractor and an employee can be challenging. This is most commonly due to employers misunderstanding the difference between the two. Whether the relationship...

A Note About Risk

David Younis, CFP®*

Wednesday, October 17, 2018

Not long ago, I attended an investment conference where Dr. David Kelly, the Chief Global Strategist and head of the Global Market Insights Strategy Team for JP Morgan was speaking. He provided some truly insightful thoughts –...

Bunching Charitable Donations – Will it reduce my taxes?

Francis M. Celona, CPA, CFP®*

Monday, August 20, 2018

Under the new tax law, starting in 2018, many people will be able to take advantage of the increased standard deduction instead of itemizing their state and local taxes, mortgage interest, donations, etc. What if you are a borderline...

SAVE EARLY, SAVE OFTEN TO “COMPOUND” SUCCESS

David Younis, CFP®*

Friday, June 15, 2018

You’ve heard the saying “save early, save often.” Sure, it’s a cliché, but like many clichés it is borne of real world experiences. In this article, I’d like to explore WHY saving early and...

In December 2017, the President signed into law the Tax Cuts and Jobs Act (“Tax Act” or “Act”), which introduces the most significant changes to the U.S. tax system since 1986. With a few exceptions, the tax...

For Year Ends Beginning After December 15, 2017 ASU 2016-14: Not-for-Profit Entities In August, 2016, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2016-14, affecting accounting and related financial...