Category Archives: Uncategorized

CPA Wealth Manager: Tax Time Presents Simple Opportunities To Assess Your Financial Plans

Like most people, I have piles of documents in my den.  Collecting the documents is easy, you put them in piles and hopefully deal with them later. Compiling information from the right documents for the right reasons is harder. 

During this time of year we see tax documents dropping into our mailboxes and this typically causes our attention to turn to: “Wow! How much did I make last year?” and then ultimately to “Where the heck did it all go?”

Now is the a great time for you to get your hands around your spending and income as you figure out what you spend for your deductible charitable contributions and medical expenses.  Why not pull more information together so you can make some longer term decisions.  The average person spends around 13 hours per year on their tax filings but little or no time on Financial Planning for the future.  Its no wonder that so many are falling short of retirement goals and coming up short on paying for college educations. 

With the right documents in hand, spend an extra hour while you pull together your tax stuff and put together a summary of your financial goals and assess your overall spending for the year.  With this you can make start to make some positive moves toward those financial goals.  Make an appointment with a Fee-Only Advisor to help on the road to fiscal fitness!  Call 877-448-3400 for a free initial consultation with the credentialed fiduciary advisors at Wealth Management Advisors, LLC and follow us @WealthThink and @ChronosWealth on Twitter

2017 Standard Mileage Rates

The IRS has announced the 2017 optional standard mileage rates for computing the deductible costs of operating a passenger automobile for business, charitable, medical, or moving expense purposes.

Effective January 1, 2017, the standard mileage rates are as follows:

Business use of auto: 53.5 cents per mile may be deducted if an auto is used for business purposes

Charitable use of auto: 14 cents per mile may be deducted if an auto is used to provide services to a charitable organization

 

 

 

 

Medical use of auto: 17 cents per mile may be deducted if an auto is used to obtain medical care (or for other deductible medical reasons)

Moving expense: 17 cents per mile may be deducted if an auto is used to move to a new home in connection with the start of work at a new job location

You can read IRS Notice 2016-79 here.

 

2016 Charitable Donations

On behalf of our wonderful Clients and Friends we have made donations to the following charities:

Massachusetts General Hospital
Appian Club
Pan Mass Challenge
Friends of Woburn Veterans 
Ronald McDonald House Charities 
Alzheimers Foundation
American Cancer Society
Doctors without Borders
Semper Fi Fund
Animal Rescue League of NH
Winchester Hospital Foundation
Combined Jewish Philanthropies
Bentley University

 

 

 

Our warmest wishes for a wonderful holiday season and healthy and happy new year to you and your families from all of us at Wealth Management Advisors, LLC

 

 

 

 

 

 

 

Charitable Gifts on Behalf of our Clients and Friends

In 2015 the professionals at Wealth Management Advisors have chosen to make donations to the following organizations on behalf of and in honor of our wonderful clients and friends.

MSPCA

Care Dimensions

National Parkinson Foundation

Alzheimer’s Association

American Cancer Society

Bentley University

Lazarus House

American Lung Association

Juvenile Diabetes Foundation

Wounded Warrior Project

Fight Colorectal Cancer

Doctors without Borders

Combined Jewish Philanthropies

Holiday Giving

This year the professionals at Wealth Management Advisors, LLC have made donations to the following organizations on behalf of and in honor of our wonderful clients.

Bentley University

Lazarus House

Alzheimer’s Association

American Lung Association

American Cancer Society

Winchester Hospital Foundation

Combined Jewish Philanthropies

Boston CPA and Financial Planner Shares Warren Buffetts Sentiments

Boston CPA and Financial Planner, Stephen P. Ahern, CPA/PFS, CFP®  reacted to comments made by Warren Buffett in his annual shareholder letter saying, “As usual, Warren is on the mark!”

The billionaire CEO of Berkshire Hathaway releases his annual letter on Saturday, but he released some of his letter to Fortune Magazine to provide some of his key principles:

Focus on what an investment will produce, not its price; stick to what you know; and don’t try to predict what the economy or stock market will do.

 ‘‘You don’t need to be an expert in order to achieve satisfactory investment returns. But if you aren’t, you must recognize your limitations and follow a course certain to work reasonably well,’’ Buffett wrote. ‘‘Keep things simple and don’t swing for the fences. When promised quick profits, respond with a quick ‘no.’ ’’

For 25 years of financial planning and investing, swinging for the fences sometimes looked like it would be fun, but it was inevitably high risk behavior that usually ended up with strikes.  It is a much better idea to invest for the long term in a diversified portfolio and chose managers who provide excellence in their chosen area at a low or reasonable cost.

While you may not have the investment expertise in a particular area or in investing in general, it is an important part of your financial life and you need to make sure, if you are not interested or are time constrained, that you have someone you can trust to make proper long term decisions on your behalf and be certain that they have your best interests at heart.

“That is why we founded Wealth Management Advisors,” said Ahern.  “It is important to have someone that you can trust to be on your side of the table helping you make decisions.  That is someone who you know is not conflicted by commissions or a sales mentality and is a true professional financial specialist who enables you to focus on your family, work and/or leisure by limiting your risk, controlling investment costs and keeping your emotion out of the investment decision process.  These things are invaluable and will keep you on track to your goals.”

2013 Wealth Management Advisors Charitable Donations

In lieu of holiday gifts, we have made donations in honor of our valued clients to the following organizations:

  • Alzheimer’s Association
  • American Cancer Society
  • Bentley University
  • Combined Jewish Philanthropies
  • Lazarus House
  • Notre Dame Health Care Center
  • Pan Mass Challenge
  • Winchester Hospital Foundation