Whatever the circumstances, with newly created or realized wealth comes great responsibility, significant complexity and potentially unsettling emotions. Handling this responsibility effectively can help ease your financial stress, simplify the associated burdens, and enable a more gratifying life experience.
Welcome to our first issue of Fairman Group Perspectives, our enewsletter focused on sharing timely financial planning insights. In this edition we highlight how geopolitical tensions may impact oil prices and the economy, tips for protecting your identity, the IRS annual list of tax scams, the need to review withholding, and estate tax changes.
The IRS continues to encourage taxpayers to review the amount of tax they have withheld to avoid an unexpected tax surprise when they file their 2019 tax returns next year. Preliminary 2018 tax filing data seems to show the need for taxpayers to review their withholding in order to make sure the appropriate amount of tax is being withheld from their paychecks to reflect recent tax law changes.
Large-scale data breaches are in the news again, but that’s hardly surprising. Breaches have become more frequent—a byproduct of living in an increasingly digital world. During the first six months of 2019, the Identity Theft Resource Center (ITRC), a nonprofit organization whose mission includes broadening public awareness of data breaches and identity theft, had already tracked 713 data breaches, with more than 39 million records exposed. Once a breach has occurred, the “aftershocks” can last for years as cyberthieves exploit stolen information. Here are some ways to help protect yourself.
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