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April Special Section
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Sponsored Section • Banking & Finance April 2018
Invest in Earth Day Having tax regrets? Here are 5 ways to pay less and save more on your taxes
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. April 22 is Earth Day, when we celebrate the importance of our environment. As an investor, what lessons can you learn from this special day? Earth Day events educate us on how we can help keep toxins name out of our land, air and water. And when you invest, you need to avoid “toxic” moves, such as chasing supposedly hot stocks – which may be all wrong for your needs. Also, you can follow the Earth Day mantra of “reduce, reuse and recycle” by sticking with your investments for the long term. If you’re constantly buying and selling investments, you may end up just wasting time, money and effort. Finally, just as Earth Day encourages us to be conscientious consumers by doing things such as buying lo-
cally, you can become a more socially conscious investor by investing in companies that behave in a way you think benefits society. (Keep in mind, though, that these stocks, like all stocks, are subject to market risk.) Earth Day passes quickly – but by applying some of its key teachings to your investment activities, you may improve your own financial ecosystem. If you have any questions contact Chris Burns at 770-205-1579. Christopher D. Burns Edward Jones 5285 Lake Pointe Center Dr. Cumming, GA 30041 770-205-1579
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* Annual Percentage Yield (APY) effective 04/12/2018. CDs offered by Edward Jones are bank-issued and FDIC-insured up to $250,000 (principal and interest accrued but not yet paid) per depositor, per insured depository institution, for each account ownership category. Please visit www.fdic.gov or contact your financial advisor for additional information. Subject to availability and price change. CD values are subject to interest rate risk such that when interest rates rise, the prices of CDs can decrease. If CDs are sold prior to maturity, the investor can lose principal value. FDIC insurance does not cover losses in market value. Early withdrawal may not be permitted. Yields quoted are net of all commissions. CDs require the distribution of interest and do not allow interest to compound. CDs offered through Edward Jones are issued by banks and thrifts nationwide. All CDs sold by Edward Jones are registered with the Depository Trust Corp. (DTC).
Chris Burns Financial Advisor 5285 Lake Point Center Drive Suite A Cumming, GA 30041 770-205-1579
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(BPT) - Most of us know the feeling: Tax season can be a frustrating and stressful time. You have to gather lots of documents, remember all the changes in your life over the past year that might affect your return, and file the required paperwork before tax day rolls around. And while you do all of that, there’s always that nagging feeling: Did you take advantage of all the deductions and credits the IRS has to offer? Is there more you can do to prevent taxes from eroding the value of your investment portfolio and eating away at your income? Are you prepared for the changes that are coming due to the new tax law? Like thousands of others, you might be experiencing a “tax hangover,” that sense of regret that you overlooked some fine detail, that you could have paid less and ended up with more money in your pocket. The truth is: Your taxes shouldn’t be top of mind just once a year. Tax planning is an important part of overall financial planning, and there are things you can do now to avoid having another exhausting experience next year. The best place to start is to set up a meeting with a financial planner who can work with you to optimize your taxes and better integrate them into your financial plan. “Figuring out the best approach to your taxes can be challenging, and the new tax law won’t make things any easier next year,” said Geoffrey Brown, CEO of the National Association of Personal Financial Advisors (NAPFA). “That’s why now is the right time to find a professional advisor who can help you get the best possible outcome.” To give you an idea of what you might be missing, NAPFA offers these five tips: 1. Get into a lower bracket. Your first tax strategy should be to try to get into a lower tax bracket. Individuals who make $38,700 ($77,400 if married) pay a base rate of 12 percent. If you make more than that, you jump to a rate of 22 percent. That’s a huge leap! You should aim to be at the top of the lower bracket. To do this, focus on maximizing deductions that lower your pretax income, such as contributing to a 401(k) or a Health Savings Account (HSA).
2. Be aware of withholdings. With the new tax law affecting your next return, you should double-check what’s being withheld from your paycheck. Due to the big changes in the tax code, your withholdings could suddenly be too high or too low. If you withhold too little, you might owe more than expected during next year’s tax season. You also want to make sure you’re not withholding too much - in essence, you’d be loaning the government money when you could be investing it much more sensibly. Be sure to talk with a financial advisor to check whether you’re withholding the right amount. 3. Put money into an HSA. If you’re in relatively good health and your company offers an HSA as part of a benefits package, you should enroll and contribute to it. HSAs have the wonderful attribute of being almost completely tax-free. Your contribution isn’t taxed when you put it in, and it isn’t taxed when you take it out, either. In many ways, this is a tax-free savings account you can use toward your retirement. 4. Know how your kids fit in. One of the biggest changes in the tax code that will affect families’ 2018 filing is the fact that the dependent deduction is no longer available. That means you can no longer deduct your children as dependents. However, the Child Tax Credit, which previously only applied to low-income taxpayers, is now available to taxpayers with much higher incomes. If you have dependent children on your tax return, you need to be aware of how this switch from dependency exemptions to tax credits will affect you. 5. Plan ahead. Taxes aren’t something you do once a year. Set aside time with your financial advisor to do some tax planning exercises and make sure you are paying the lowest amount possible over the next few years. This includes forecasting your income and planning out when it would make more sense to itemize versus taking the standard deduction. This allows you to decide when to have elective medical procedures or increase your charitable giving, while still minimizing your tax burden. Everyone has different financial goals and is in a unique financial situation - and taxes are a key part of the equation. By speaking with a personal financial advisor now, you can plan ahead and ensure the next tax season doesn’t end in another tax hangover. To find an advisor near you, visit www. napfa.org and use their Find an Advisor Tool.
April 2018
banking & finance • Sponsored Section
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Our business rates are even higher! CARRYING THE TORCH: Representatives of American Commerce Bank and the Johns Creek Police Department celebrate the 2018 Law Enforcement Torch Run. From left, Bob Koncerak, American Commerce Bank COO, Major John Clifton, Johns Creek PD, Carlos Laverde, ACB Atlanta market president, Travis Carithers, ACB teller and Corporal Tyler Seymour, Johns Creek PD.
Fourth annual torch run a community success American Commerce Bank in Johns Creek was pleased to celebrate community success this past weekend as over 400 runners participated in the Johns Creek PD’s fourth annual Law Enforcement Torch Run, a fundraiser for Special Olympics, Georgia. The 5K event was held on Saturday, April 14th at Shakerag Park. The program drew a record crowd of residents to cheer on the runners and walkers. Carlos Laverde, ACB’s Atlanta market president, was particularly proud of the turnout. “This event has grown with each passing year, and we are honored to help the community of Johns Creek raise funds for such a worthwhile cause”. This commitment surely fits with our commitment to invest in Johns Creek. Every member of our branch staff was present.” Beyond championing community service, American Commerce Bank specializes in providing high-touch service to its consumer and commercial banking customers. The bank offers market-leading money market and CD deposit rates, as well as highly con-
venient on-line banking and treasury management services. The bank’s experienced customer service staff pride themselves in knowing their customers by name and knowing how to address each client’s individual needs. ACB’s participation in the nation-wide CDARS network enables the bank to provide FDIC deposit insurance on balances well above the standard $250,000 account limit. By providing such services, bank management ensures that it can “bring big bank products down to the community banking level”, according to Laverde. In addition, the bank’s Small Business Lending staff provides customization to the needs of small business owners and entrepreneurs. By catering lending terms to the specific needs of business borrowers, ACB provides industry-leading lending solutions as well as deposit and treasury management services. For more information about American Commerce Bank, stop by their branch located at 10690 Medlock Bridge Road, or visit www. AmericanCommerceBank.com
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10690 Medlock Bridge Rd. • Johns Creek, GA 30097 AmericanCommerceBank.com • 470-422-1200 For New Accounts *Rates are effective as of April 5, 2018 and are subject to change without notice. Money Market minimum deposit of $1,000. Annual Percentage Yield (APY). Subject to withdrawal limitations and fees could reduce earnings.
American Commerce Bank proudly supports the 2018 Annual Giving Campaign
4 northfulton.com
Sponsored Section • Banking & Finance April 2018