September 2010 Trendline Financial Monthly

Trendline Financial Solutions
223 Parker Avenue
West Hempstead NY 11552
(516) 317 – 2860

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Trendline Financial Monthly
  September 2010

Hi Everyone
I hope you had a great summer – I know I did with getting married and going to Italy.
This month I am adding some articles on how the Financial Reform and Health Care Reform affect us. It is also not too early to start thinking of year-end tax planning. Remember that December is your final tax exam for the year – April is merely the report card. So give some thought now to to the tax impact of any major changes in your life and how to either increase deductions or minimize income by using tax deferred vehicles.
As always, call or write if you need help with any financial issue.
Peter Owen

Year-End Tax Planning–Special Concerns for 2010
Year-end tax planning is as much about 2011 as it is about 2010. Often, there’s a real opportunity for year-end tax savings when you can predict that you’ll be paying taxes at a lower rate in one year than in the other. Of course, to effectively plan, it helps to have a good idea of what next year’s tax rates will be. Unfortunately, as 2010 draws to a close, 2011 brings some uncertainty in that regard.
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In-Service Withdrawals from 401(k) Plans
You’re probably familiar with the rules for putting money into a 401(k) plan. But are you familiar with the rules for taking your money out?
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How Will Financial Reform Affect You?
Though the bulk of financial reform legislation is aimed at Wall Street, how will this legislation affect consumers?
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Will the new health-care law affect my Medicare drug plan?
Yes, it might. Many Medicare Part D beneficiaries have had to pay for prescriptions out-of-pocket after reaching a gap in their annual coverage, referred to as the “donut hole.”
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Does the new health-care reform law affect health spending accounts?
Yes. The new health-care reform legislation impacts flexible spending arrangements, health reimbursement arrangements, health savings accounts, and Archer Medical Savings Accounts.
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The information in any newsletter or within the website should not be construed, in any manner whatsoever, as the receipt of or a substitue for personalized individual advice from Trendline Financial Solutions. Advice may only be given after client has received a copy of the Firm’s Form ADV on file with the New York State Dep’t of the Attorney General, appropriate Firm disclosures as required by Law, and entered into a Financial Planning agreement with the Firm.


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