SYM News


SYM Definition: Downward pressure on the equity markets due to the looming potential start of sequestration on March 1st.


The media noise will continue to pick up this week as we approach the March 1st deadline for Congress to act or accept mandatory cuts in spending. Media accounts are positioning the sequester as a negative for economic growth and the stock market, but we doubt the looming spending cuts will be as negative as they are portrayed.

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Tax Time Readiness Check

As the calendar moves toward the inevitable April 15thtax deadline, we’ll gather all the documentation we’ve acquired over the past twelve months and head to our CPA’s office or sit down at the computer to determine this year’s final tally. Whether you use tax software or rely on a tax professional, there are a number of important items to think about prior to filing. Consider whether the following items apply to you before submitting your return:

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Charles Schwab CEO Visits SYM Financial Advisors

Charles Schwab President and CEO, Walt Bettinger,visited the Winona Lake headquarters of SYM Financial Advisors on Friday. Walt spent time with the SYM owners to solicit feedback and ensure that Schwab is meeting the needs of SYM clients. Bettinger assumed the role of President and CEO in 2008 when founder, Charles R. Schwab, stepped down.

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IRA Distributions to Charity

The fiscal cliff has been addressed. Reading through the articles and summaries of the legislation last week, you might be led to think it only had to do with tax rates. However, as is most often the case, when you stop reading, you can miss out.

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Golden Opportunity . . . Expiring Soon

In late 2010 Congress handed wealthy tax payers a golden opportunity to shift millions of dollars out of their estate with no transfer tax liability. To the extent not already used, this golden opportunity allows individuals ($5.12 million) and married couples ($10.24 million) to gift from their estates without incurring any transfer tax. Without an act of Congress, this unique planning opportunity is set to expire at the end of 2012 when the current law sunsets and lifetime gifts will again be limited to $1 million per person, $2 million per couple.

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