Allied Financial Partners is excited to host our first financial services webinar presented by Kurt Czarnowski, of Czarnowski Consulting. Please join us on Thursday, July 16, 2020 at 6:00 PM for Developing Your Personal Social Security Strategy .

Mr. Czarnowski will be reviewing strategies to help maximize your Social Security benefits as well as distinguish facts from the myths surrounding Social Security's solvency.
Mr. Czarnowski is a dynamic speaker with more than 30 years of experience working directly for the Social Security Administration.
Unemployment Income Is Taxable
According to the IRS, unemployment benefits are taxable income. This means that any unemployment compensation that you receive from a state or the federal government must be included in your income and will be taxed at your ordinary income tax rate.

If you are currently collecting unemployment benefits please be sure to maintain your login credentials. You will need to download a tax form associated with this income for your 2020 tax return.
2020 Deadline Approaches:  SIMPLE IRA or 401(K)
A new business SIMPLE IRA or Safe Harbor 401(k) must be set up with an effective date between January 1 and October 1 in order to be applied to 2020. Plans established on October 2 or later will be applied to 2021.
 
If you are considering setting up a business SIMPLE IRA or Safe Harbor 401(k), the time is now to contact our Financial Services department to get your plan established before the October 1st deadline.

At the time of the distribution of this eblast no extensions to these dates have been released in relation to the COVID-19 pandemic or the CARES Act. These dates traditionally have been observed for setting up a new business SIMPLE IRA or Safe Harbor 401(k), it is our expectation that these dates will remain intact however we will notify you if a change is announced.
Insights from Jason Tabor, CFP ®
This month Jason Tabor, CFP ®, Financial Advisor for Allied Financial Partners, discusses Tactical Bond Investing and Socially Responsible Investing .
Jason meets with clients in the Oneonta and Cooperstown offices. To schedule an introductory conversation in the Oneonta office please call Ramona at (607) 432-3462. For appointments in the Cooperstown office please call Debbie at (607) 282-4161.

If you have specific questions, or would like to discuss your personal situation, please call our office to speak with a member of our financial services team.
Are There Unclaimed Funds Waiting For You?
man_money.jpg
Lost or unclaimed money gets turned over by organizations who are required to report dormant accounts to the New York State Office of the State Comptroller. This money includes things like forgotten savings accounts, lost pay checks, and stocks or bonds.
 
Visit  USA.gov , or  click here  to go directly to the New York State Comptrollers unclaimed funds site.
Office Announcements
godly-enter-key.jpg
NetClient Portal Transition: Over the summer we will be transitioning our tax portal to a new system.

When you are accessing your tax portal over the next few weeks please take the opportunity to download any documentation that is being stored there and save them with your personal records either on your system, external hard drive or cloud based storage.

Please note: The intent of the portal system has shifted away from being a storage system to a way to safely transmit documents between Allied Financial Partners and our clients.

The NetClient CS portal will remain accessible until the end of 2020.
open_sign_green.jpg
Our Offices Are Open: Although many of our employees are working remotely, all of our offices are open and we welcome you to come inside if you are comfortable doing so. If you need to drop off or pick up something and prefer not to come into the office, please call when you arrive and we will have someone come out to you.

We appreciate your patience while we continue to have (limited) staff in the offices. Please know we are striving to answer every phone call and accommodate our clients in the best way we can during this time.
Track Your Refund Online
Visit the resource center of our website  https://alliedfp.com/track-refund  to check 
the status of your state or federal tax return. 
 
All you need is:
·          Tax payer social security number
·          Filing status
·          Refund amount
 
**Check to see if a pop-up blocker is preventing the tracker from opening a new page after your select Federal or your preferred state.
COVID-19 Resource Links
Enhanced Unemployment Insurance (UI) Benefits & Pandemic Unemployment Assistance (PUA) for New Yorkers.


Paycheck Protection Program (PPP)


Use this worksheet to help you understand your cash flow needs for the next month. Fill-in the amounts in blue and the worksheet will calculate your cash flow needs. This tool will help you when speaking with creditors and banks on your needs.
We want to hear from you!! This eblast is written for the benefit of our clients. Please reply to this email with any topics of interest, questions or concerns you may have and we would be happy to address them.
Is the content of this email relevant to you?
Yes
No
BUFFALO | COOPERSTOWN | ONEONTA | PERRY | ROCHESTER | VICTOR
Allied Payroll Services is bonded.

Securities offered through Registered Representatives of Securities America, Inc., a broker-dealer, member FINRA / SIPC . Advisory services offered through Securities America Advisors, Inc., a Registered Investment Adviser. Tax services provided by Tette, Ingersoll & Co., CPAs, PC. Allied Financial Partners and Tette, Ingersoll & Co., CPAs, PC are not affiliated with Securities America.

Securities America is unaffiliated with any other named entities or services offered.

To be eligible for the Rochester Chamber Top 100, businesses must be privately held, headquartered in the nine-county Rochester region, and have earned at least $1 million in revenue in each of the three most recent fiscal years. The Rochester Chamber Top 100 is computed based on revenue growth, taking into account both dollar and percentage growth.