Your Monthly CURator- Happy New Year! What is new for you in 2024?

Hello Marianna,

Greetings and Happy New Year!

Melanie, Samantha, Leslie and I are excited to be heading into 2024 full of energy and ready for new challenges and adventures. I hope you had a wonderful holiday season and some much-deserved rest.

January is known to be “new year resolutions “month and I am sure most of us have our list together and ready to go, right? From (actually) using the paid monthly gym membership, or losing extra pounds, to taking better care of our health or sticking to a strict budget, this list rarely changes. But behind every resolution there's a story, a dream, a fear, and an aspiration. We are here to help you at least with the financial resolutions and perhaps some other goal you may have.

We will be reaching out soon or going over the following during our annual review but if you want to get ahead...

Adjust your retirement plan contributions for the 2024 limits
Fund your IRA contributions with the 2024 limits (or reach out to ask us how)
Plan to maximize 529 plan contributions
Complete or revise your estate planning documents

Since it’s the beginning of a new year, I also wanted to share two articles to help you stay informed on some recent changes in the financial world. Below, you’ll find quick reads about recent changes to college financial aid, and a tax credit that may help you offset the cost of purchasing certain “clean” vehicles.

Another tax filing season is upon us, and the tax documents for your accounts will begin generating in mid-January. Our partner, National Financial Services will start to post and mail them in four waves through the end of February. See the detailed information below on how to access this information from your Investor360 on-line portal.

Finally, your CURO team is always looking for ways to improve, and we would love to hear from you! When you have a moment, please complete this quick survey to help us understand how we’re doing and what we can do to make this the best year yet.

As always, wishing you and your loved ones health, wealth, and happiness in the New Year!

Until next time,

Marianna

Our Purpose Is Simple:

To help you curate a wealthy life, and achieve the financial balance and independence for which you strive.

Accessing Your Tax Forms

If you are enrolled in e-notification, you will receive an email notifying you that your tax forms are ready to view. If you are not enrolled in e-notification, your form will be mailed within five business days of online posting.

In both cases, once issued, you may access an electronic version of your tax forms (see screenshot below) in Investor360°® under Statements & Documents > Tax Documents > Most Recent Tax Document.

Video: How to Access Your Documents

6 Key Changes to Financial Aid

The Free Application for Federal Student Aid (FAFSA) is the form that high school seniors and returning college students and their families need to fill out every year to apply for federal financial aid. There’s no possibility of receiving federal financial aid, federal financial loans, or qualifying for the federal work-study program without the FAFSA. Check out this article to learn about the changes made to the FAFSA for 2024 and beyond.

Learn More Here

Transfer Your Clean Vehicle Tax Credit to Dealer as Payment for the Vehicle

Starting in 2024, you may be able to irrevocably elect to transfer the new and previously owned clean vehicle tax credits to dealers who choose to participate in the program. You will receive an immediate financial benefit from the dealer equal to the credit in return for the transfer of the credit to the dealer. But you must be careful not to lose if your income is too high.

Read All About It

Insights From Our CIO: Market Thoughts

January 2024

Brad McMillan, Commonwealth’s CIO, recaps December’s market and economic news. Markets around the world were up from 3 percent to 6 percent last month and up by double digits across the board for the year. The lack of a recession drove these positive results, with job growth and consumer confidence remaining healthy. The Fed kept rates steady last month, signaling a potential soft landing for the economy as inflation continues to decline. But how many rate cuts can we expect in the coming year? Stay tuned to find out. Follow Brad at blog.commonwealth.com/independent-market-observer.

Listen Here

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