BFSG Blog

Financial Resources & News

Top 8 Year-End Tax Tips

Click the link below to learn what the top 8 year-end tax tips are in order to maximize your tax refund or minimize the taxes you own.  With the proposed changes to the tax code, consulting with your tax preparer is more important now than ever. https://turbotax.intuit.com/tax-tips/tax-planning-and-checklists/top-8-year-end-tax-tips/L5szeuFnE

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Retirement & Estate Limits for 2018

The IRS issued notices, updating retirement plan limits and estate plan limits for the year 2018.  Here are some of the highlights: Salary Deferral Limit for 401(k), 457(b), 403(b) Plans:  Increasing by $500 to $18,500.  The catch-up contribution (age > 50) remains $6,000. Max contribution to a defined contribution plan increases to $61,000 for 2018, which is the sum of $55,000 plus the...

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Social Security Cost of Living Adjustments

Social Security Recipients take Note!  The Social Security Administration (SSA) has announced the cost-of-living adjustment (COLA) for 2018 will be 2%, the biggest increase since 2012.  Congratulations on your raise! Employees take Note!  The SSA also announced the maximum amount of earnings on which you will have to pay Social Security taxes will increase to $128,700 from the current level of...

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Equifax Security Breach

As you have likely seen, Equifax (one of the three main credit bureaus) had a large security breach that lasted from mid-May through July. There are a lot of notices and alerts suggesting what you can do to protect yourself, so we wanted to share our thoughts with you regarding proactive measures you might consider taking to protect your personal information. Freeze your Credit: Each credit...

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Current Bull Market 2nd Strongest Rise in History

“Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.” Sir John Templeton. At Friday’s close of 2500, the Standard & Poor’s 500 index made a new all-time high and also capped its second strongest rise in history, up nearly 270%, eclipsing the 1949 – 1956 bull’s 267% rise, according to Bespoke Investment Group.  The current rally – which began on...

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Maybe Stock Valuations are Justified!

According to the WSJ today (7/31/17), 73% of the S&P 500 companies that have reported earnings for the second quarter have reported better than expected revenues. If that figure holds, it will be a record performance. The 5 year average is 53%.  57% of S&P 500 companies have reported so far. Q2 revenue is growing at a rate of 5.2% vs. 7.7% for Q1 (the best quarter since 2012).  Revenue...

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