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February/March 2022 | Issue 3

What to Watch...

Hot Topics Worth Sixty Seconds of Your Time

More volatility.

Russia invasion.

Rising rates.

Risk & Rebalancing.

Click Here to Read the 60-Second Transcript

For My Current Clients

Tax Season is a good opportunity to take a look at your cash flow and how your current financial plan is working for you. If you have questions on your time horizon for accumulating toward specific goals, want to look more closely at setting yourself up for your future, or have some upcoming life events where a financial plan could help you feel more prepared, please feel free to schedule some time with me to talk through it. I'm happy to help!

Financial Literacy

Better Understanding Rising

Interest Rates

Inflation Lessons From the 1970s

From The Daily

With prices on the rise in the U.S. economy, the Federal Reserve is expected to announce on Wednesday an increase in interest rates, essentially pouring a cold glass of water on the economy. Why would the central bank do that? The answer lies in the inflation crisis of the 1970s, when a failure to react quickly enough still looms large in the memory.

Guest: Jeanna Smialek, a reporter covering the Federal Reserve and the economy for The New York Times.

Click Here to Listen on Apple Podcasts

Financial Insight


Tired Takeout

(And the Unwanted Dessert)

Grubhub or Postmates or

Seamless or Caviar or

Uber Eats or Doordash?

Thai or Indian or Pizza or - OH! that italian place with the unbelievable cheesecake!?

You don't have to sacrifice your favorite delivery to reach your financial goals. But there is a way to avoid throwing veggies away that have gone bad since you were too tired to cook.

Read the Full Article Here

Tax Time Tools

My Fiscal Office Logo.JPG

1099's Are A Waste of Time

By Ken Rogers,

CEO - My Fiscal Office, LLC

Congress passed a law that requires companies paying contractors over $600 to issue 1099s. The amount was selected to account for 'large' dollar amounts. This amount was not selected 20 years ago, not 30 years ago or even 40 years ago but almost 70 years ago (in 1954) when $600 was a significate amount of money.


If your business also has income from non-business customers or does not meet certain thresholds, then only some of your income is reported on 1099s. That means using 1099s to report taxable income is not correct and you need a system to track all your income.


This also means that the IRS does not have a record of all your income. They only know if you report less than the sum of 1099s sent by your clients. Therefore, it is possible that the entire 1099 reporting system does not help the IRS find hidden income.


Beginning in 2022, individuals, partnerships, LLCs, and corporations that earn more than $600 through various online venues will start receiving Form 1099-Ks. In prior years made through payment processors were only subject to reporting when the amount paid exceeded $20,000 and the aggregate number of transactions with that payee during the calendar year exceeded 200.


Transactions for personal transactions are specifically excluded from Form 1099-K reporting. Most payment processors will likely attempt to identify such transactions based on their user agreements, which generally specify whether the user will be using the website for personal or commercial transactions. I guess we are going to have to wait to see if PayPal, Venmo, and Zelle get this right.


Michael Raimondi (He/Him)

Financial Planning | Investments | Insurance

Clarus Group, LLC

Office: 201.633.5737

Mobile: 646.872.1288


Clarus Group LLC ("Clarus Group") is a Registered Investment Advisor ("RIA"), with the U.S. Securities and Exchange Commission (“SEC”). Michael Raimondi provides investment advisory and related services through Clarus Group for clients in the State of New York and other states. Michael Raimondi and Clarus Group are not affiliated with the firms in which links were provided above.