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from RedRock Financial | February 2019
Tax Season is Here

Hire Someone or Do it Yourself?

It's that time of year. Tax documents arrive daily and you're thinking about getting your taxes done.

For many, changes to the tax laws should make filing your taxes easier this year. The new standard deduction should eliminate the need for many taxpayers to gather receipts for charitable contributions, and un-reimbursed business expenses.

Do it yourself software will be helpful for many, but if your personal situation is a little more complicated, or beyond the scope of time/energy you want to spend preparing them, a tax professional will likely be in your best interest.

  Tax Time  

To Our Clients - LPL will be  sending out tax documents in three more phases
this tax season. 1099's for retirement accounts were mailed on January 31st. Most non-retirement accounts should expect their 1099 to be mailed on February 15th (today), however there may be some exceptions and future mailings will happen on March 1st and 15th. Final tax documents will be mailed your address of record and are also available online through Account View.
Wages on the Rise
New Year Brings Increases to Minimum Wage

In 2019, more than 20 states will raise the minimum wages for workers. While many states have raised wages, the Federal government and some 21 states have held steady with a minimum wage of just $7.25 per hour.
While some employers complain about higher payroll expenses, others welcome it in the hopes that employee turnover & training costs will decrease. Workers hope this raise will allow them to meet their expenses and look forward to perhaps a little extra.
Economic Updates

Hey Alexa...
Did You Get an Amazon Echo Over the Holidays?
The Amazon Echo was one of the hot gifts of the holiday season. Even the most tech savvy will be pleasantly surprised with all the fun things you can do with her.
The setup is easy. Sometimes she can be a little sassy, but in general she can make life a little easier & fun around the house. She'll make an Amazon order, play you music, tell you the weather, update you on the score of the game and much more. Go ahead take her out of the box and say, "Alexa, Sing me a Song!"

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

Benjamin Knight, Kathleen Carpenter, CFP® and Diane Knight, CFP® are Registered Representatives with and Securities offered through LPL Financial, Member FINRA/SIPC.

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