April 2021 Review and Outlook |
A recent review published on Nasdaq.com provides a comprehensive snapshot of the market year-to-date.
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Market Summary as of April 31, 2021 |
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IRS Holds Nearly 30M Tax Returns for Manual Processing |
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Tax refunds are being delayed more than usual due to tax code changes, backlogs from 2019, limited resources, and outdated IT systems. The IRS is holding 29 million tax returns for manual processing, causing refund delays of 6-8 weeks.
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The IRS is also manually processing tax returns that claimed the Recovery Rebate Credit if the taxpayer was eligible for any remaining stimulus money from the first two payments made in 2020. Lastly, a large backlog of unprocessed paper tax returns from 2019 and 2020 will be manually processed and further delay refunds.
If you are looking for information on your tax refund status, you can visit the IRS "Where's My Refund?"
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We have assembled our 2021 Tax Reference Guide. This document outlines annual updates to tax brackets, contribution limits, and other IRS guidance for the 2021 Tax Year.
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Passwords are one of the earliest online security tools implemented during the creation of the digital world. As software and the internet have evolved, passwords have also become a weakness exploited by hackers. World Password Day, the first Thursday in May, was first celebrated in 2013 and is an annual reminder to focus on your personal online security and protecting your digital identity. Since the beginning of the COVID-19 pandemic, many people navigating new remote working procedures have become susceptible to increased opportunities for cybersecurity attacks. These are some of the vulnerabilities to address during your annual online security audit.
We frequently change passwords for email and website logins but, WiFi passwords are often never changed after the original setup. As an essential part of protecting your network and connected devices, experts suggest changing your WiFi password every three months. Set a calendar reminder to reset all of your passwords every 90 days. This is an easy way to ensure you are protecting your private data.
We know that changing all passwords is critical. However, many of us reuse weak or recycled passwords rather than create unique ones. Reusing the same, or a variation of the same, password for multiple accounts is something we know is wrong. In the LastPass third Psychology of Passwords Report, 91% of people globally say they know this, yet 66% of respondents say they always or mostly use the same password.
Our passwords are sometimes predictable and contain personal information easily found by malicious actors on social media accounts. A quick internet search can give a hacker enough information regarding locations, dates, or life events used in password creation.
There is also a tendency to ignore online data breaches. According to LastPass, 58% of survey respondents had not changed their password in the last 12 months despite hearing about a data breach. We frequently underestimate our risk and do not view our accounts as valuable enough to be hacked. While your credit card number may only be worth a few dollars to a hacker, a breach of thousands of online accounts adds up quickly.
Despite the apparent cognitive dissonance we have when creating passwords, we exercise some excellent online safety precautions. Using multifactor authentication and biometrics are easy ways to increase our online security. Password managers are excellent tools for password strength and uniqueness. These software programs create random and complex passwords for each of your online accounts and then store them securely. All you need to do is remember your password manager master password and ensure multifactor authentication is on. These extra layers of protection can keep hackers at bay and our digital identity safe.
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Potential USPS Mail Delays |
Over the next several months, the U.S. Postal Service will be consolidating 18 major mail processing centers, redirecting mail in some areas by nearly 100 miles. Officials in the postal workers union are voicing concerns that this will cause major delivery delays and pose more of a threat to rural communities and farmers relying on livestock deliveries. Spokespeople from the Postal Service state that restructuring the mail processing centers will increase efficiency and reliability, but veteran postal workers argue that the consolidations mean that mail will be rerouted to facilities several hours away.
Opting for electronic deliveries and signing up for USPS Informed Delivery can alleviate some mail delays you may experience.
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Congratulations to Abraham! |
Exciting news; Abraham Gonzalez surprised his girlfriend, Diana, with a whirlwind trip to New York City, culminating in a proposal!! If you have not met Abraham, he plays an integral role at CCM, supporting Tony, Grant, Cory, and Daniel with trade execution and management of client portfolios. We wish them much happiness as they start the next phase of their lives together. |
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Registration for CCMconnect |
As you may have seen from previous email communications, our client portal, CCMconnect®, has been updated. Enhancements include additional portfolio information, a secure documents vault, and improved graphics and layout. If you have not completed the registration process for the updated site, please reach out to your investment advisor for information.
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Are You Interested in E-Delivery of Documents from CCM? |
Document vault in CCMconnect® now allows us to securely deliver quarterly statements, periodic regulatory disclosures, and other account-related information to you in a convenient way without additional paper or mail delays. If you are interested in updating your delivery preferences with our firm, please contact your investment advisor or Hannah Abernethy at habernethy@collegiatecapital.com.
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You are receiving this email because you are a client of Collegiate Capital Management, Inc. If you do not wish to receive this information please unsubscribe using the link below. |
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Collegiate Capital Management, Inc. (“CCM”) is a registered investment adviser with the U.S. Securities and Exchange Commission and is notice filed in various states. Any reference to or use of the terms “registered investment adviser” or “registered,” does not imply that CCM or any person associated with CCM has achieved a certain level of skill or training. Information in this newsletter and on our website is provided for educational or informational purposes only. Opinions expressed herein are subject to change without notice. CCM has exercised reasonable professional care in preparing this information. The information has been obtained from sources we believe to be reliable; however, CCM has not independently verified, or attested to, the accuracy or authenticity of the information. CCM is not responsible for the accuracy of any third-party information in this newsletter, nor any sites that are referenced via links. CCM shall not be liable to customers or anyone else for the inaccuracy or non-authenticity of the information or for any errors of omission in content regardless of the cause of such inaccuracy, non-authenticity, error, or omission, except to the extent arising from the sole gross negligence of CCM. In no event shall CCM be liable for consequential damages. |
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