Fairman Group Expands Upon Estimated Taxes

Taxes may be the last thing on people’s minds these days; however, the extended tax-filing deadline of July 15th is near. The three-month extension to file federal and most state tax returns also applies to estimated tax payments.

Many business owners and self-employed professionals—such as attorneys, doctors, dentists, consultants, real estate agents, and others who are not W-2 employees, have no taxes withheld on the income they receive when they receive it. Most taxing authorities, including the U.S. government, operate on a ‘pay-as-you-go’ basis. This means that tax is due on any income at approximately the same time it is received. To make tax payments for that income, ‘estimated taxes’ are due.

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Fairman Group Offers Estate Planning Strategies During Uncertain Times

As the world continues to face these unprecedented times, Fairman Group Family Office is available to help you with all of your financial planning needs. One important area that may be on your mind is estate planning—and specifically, having an updated and comprehensive estate plan in place. Below are Fairman Group’s top three suggestions for estate planning strategies:

  • Review and update your estate plans to be sure they reflect your intentions
  • Gift assets at lower values to maximize the power of these exclusions
  • Take advantage of historically low interest rates

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Fairman Group’s Shawn Kindt, CPA/PFS, CFP® Speaks About Retirement Planning

In our present and uncertain times, sitting down to do long-term retirement planning may not be a top priority but it should be. There is enormous value in assessing your financial condition in connection with your evolving goals and aspirations. In this brief video, Fairman Group Partner, Shawn Kindt, CPA/PFS, CFP®, discusses the importance of evaluating your financial situation to help determine—and plan for—the next chapter of your life.

Fairman Group’s Shawn Kindt, CPA/PFS, CFP® Speaks About Financial Planning

With extreme volatility in today’s markets and uncertainty in many professional and personal lives, financial planning with a trusted, credentialed advisor is more crucial than ever. In this brief video Fairman Group Partner, Shawn Kindt, CPA/PFS, CFP®, explains the benefits of creating a financial plan—and routinely revisiting that plan—to assess progress and make necessary or desired adjustments. In Shawn’s words, “A good plan today is better than a perfect one tomorrow.”

Fairman Group’s Advice for Constructive Portfolio Improvements Amid COVID-19

The COVID-19 pandemic has had a significant impact on global economies and world markets (To say nothing of the health tragedies).

In volatile times like these, human nature causes many investors to want to sell their portfolios for fear of major losses—short-term and potentially long-term. Generally, Fairman Group Family Office’s investment advice would be to “stay the course” and rebalance towards your elected target allocation. However, they realize that in times of extreme market volatility, clients may be re-evaluating their risk tolerance.

Click below to read more about a few core tenets of portfolio construction and asset allocation.

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Fairman Group Educates Clients About IRS Deadline Extension

The novel coronavirus (COVID-19) has caused a significant interruption to our country over the last few weeks. On March 18, the US Treasury issued Notice 2020-17 which provides new measures to assist taxpayers with their upcoming April 15 tax payments. Taxpayers may now defer up to $1,000,000 of their Federal tax liability. This was originally due on April 15, but is now extended until July 15 without interest or penalties. 

Fairman Group Family Office will continue to monitor and provide updates as more information becomes available. If you have questions about your April 15 payment or filing obligations, they will happily discuss them with you.

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Fairman Group’s Expounds Upon Important CARES Act Provisions

On Friday, March 27 the Coronavirus Aid, Relief, and Economic Security “CARES” Act was signed into law. The key issues covered in the almost 900-page bill include provisions such as providing liquidity to individuals and businesses, expanding unemployment benefits, and incentives for businesses to retain employees. To read more about some of the provisions, click on the link below.

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