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Experts Corner

Stay Up-To-Date With AFP

At Allied Financial Partners, we know that an informed client is our best client.

Throughout the year our staff writes articles which provide valuable information and insight to our clients. Check back often for the latest information on ways to manage your business and personal financial needs more efficiently.

Oct
08
2019

Assess Your Life Insurance Needs

If your family relies on your income, it’s critical to consider having enough life insurance to provide for them after you pass away. But too often, life insurance is an overlooked aspect of personal finances.

Aug
09
2019

Digging Into The Farm Laborers Fair Labor Practices Act

The Farm Laborers Fair Labor Practices Act was signed into law in New York State by Gov. Cuomo on July 17, and no matter how you feel about the changes enacted, the time to prepare for its January 1, 2020 effective date is now.

Jul
11
2019

Traditional vs. Roth IRAs

One or the other? Perhaps both traditional and Roth IRAs can play a part in your retirement plans.

Jul
01
2019

TIME VALUE OF MONEY: Why It Matters

Itʼs been a little while, but if youʼve been reading along with the last few newsletters you know that we set out to cover three important basic financial concepts. Thus far, we discussed ʻsimple versus compound interestʼ and ʻdollar-cost-averaging.ʼ Now, letʼs integrate those concepts into a more complete discussion around the “Time Value of Money” (TVoM). The essence of the TVoM is to understand that having a sum of money at this very moment is worth more than having the identical amount of money in the future. The reason it is more valuable today stems from what is understood to be that sumʼs earning potential over time.

Dec
15
2018

Defined: Active versus Passive Investing

It’s been a challenging few months in the domestic securities markets, it’s been worse abroad. We can all debate about the genesis of this turmoil, but that’s not the intent of this commentary. Instead, it’s times like these that I would like to take the opportunity to define and address the main differences between two different approaches to asset management. I also intend to describe why there continue to be confusion around these different ways of providing investment services.

Dec
14
2018

Guidelines for 1099 Contractors

It is vital that you understand the distinction between an independent contractor and an employee.

Oct
17
2018

A Note About Risk

In recent times, it’s become seemingly more and more difficult to be able to separate fact from fiction so I thought it would be a good idea to take a look at some data regarding the market and our economic environment. Think of this as a call to notice, if not a call to action.

Aug
20
2018

Bunching Charitable Donations – Will it reduce my taxes?

Under the new tax law, starting in 2018, many people will be able to take advantage of the increased standard deductions instead of itemizing their state and local taxes, mortgage interest, donations etc. What if you are a borderline case where your standard deduction and your total itemized deductions are about the same amount? Bunching your charitable contributions can give you an advantage. Keep reading to learn more!

Jun
15
2018

SAVE EARLY, SAVE OFTEN TO “COMPOUND” SUCCESS

You’ve heard the saying “save early, save often.” Sure, it’s a cliché, but like many clichés it is borne of real world experiences. In this article, I’d like to explore WHY saving early and often is so important to long-term financial success.

May
09
2018

Highlight of Significant Changes From The Tax Cuts & Jobs Act Of 2017

In December 2017, the President signed into law the Tax Cuts and Jobs Act (“Tax Act” or “Act”), which introduces the most significant changes to the U.S. tax system since 1986. With a few exceptions, the tax provisions are generally effective starting in 2018. However, many of the changes to tax regulations for individuals are temporary and scheduled to sunset after 2025. Below are some highlights of the significant changes to individual as well as business taxpayers. As this information is general in nature, it is not intended to address all the Tax Act changes that may impact you.

Feb
08
2018

Accounting Standards Update 2016-14 Provisions Become Effective For Year Ends Beginning After December 15, 2017

In August 2016, the Financial Accounting Standards board issued Accounting Standards Update (ASU) 2016-14, affecting accounting and related financial reporting for not-for-profit entities. The provisions of ASU 2016-14 become effective for all not-for-profit entities for year ends beginning after December 15, 2017 (effectively, calendar year ended December 31, 2018).

Dec
15
2017

Why It Matters: Dollar-Cost Averaging

Many people have heard an old adage, “save early, save often,” but when I speak with clients; particularly those without a formal employer sponsored retirement plan, saving early and often can be cumbersome at best.

Oct
23
2017

Summary Of Important Tax Developments

President Trump and key lawmakers reveal tax reform plan. The Trump Administration and select members of Congress have released a “unified framework” for tax reform. The document provides more detail than a number of other tax reform documents that have emerged from the Administration over the past few months, but it still leaves many specifics to be worked out by the tax-writing committees (i.e., the House Ways and Means Committee and the Senate Finance Committee).

Sep
13
2017

Revenue Recognition Summary

In May 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-09 “Revenue from Contracts with Customers.” This mandatory reporting standard provides a comprehensive, industry-neutral revenue recognition model intended to increase financial statement comparability across companies and industries and significantly reduce the complexity inherent in today’s revenue recognition guidance.

Jul
05
2017

FASB’s New Lease Accounting Standard

On February 25, 2016, after nearly 10 years of deliberations and draft proposals, the Financial Accounting Standards Board (FASB) issued ASU 2016-02, its new standard on accounting for leases. While financial reporting implications may not occur immediately, it is imperative to have a thorough understanding of these changes now when negotiating long-term leases or financing arrangements.

Jun
30
2017

Developing a Personal Risk Management Strategy

Risk management is just a fancy way of saying insurance. Remember, at its core, by purchasing insurance you are transferring the risk of financial loss to an insurance company. Depending on which stage of life you are planning for, risk management may include considerations for life insurance, different types of disability insurance or long-term care coverage.

Feb
24
2017

Will the DOL Fiduciary Standards affect client relations with Allied Financial Partners?

Recently, our Director of Financial Services, David A Younis, CFP(R) sent a letter to all of our clients addressing the status of the Department of Labor's fiduciary standard, and what recent changes to this regulation will mean for our clients.

Sep
16
2016

Higher Education Credit Opportunities

Taking college courses can be a sizable investment. There are some credit opportunities that may be able the offset some of the cost.

Jul
18
2016

Britain's Exit From The European Union

On Thursday June 23, 2016, British citizens shocked the world by voting to leave the European Union upending 43 years of participation in the attempt at economic solidarity. The intermediate and long-term economic repercussions of this political vote are yet to be fully understood; however, as evidenced by global markets’ reaction we will likely continue to experience heightened volatility and destabilizing uncertainty...

Feb
22
2016

Medicare Highlights

Dave Younis, Director of Financial Services, summarizes key features of Medicare to help our valued clients identify the appropriate plan to meet their specific needs.



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Brighton Chamber of Commerce Logo
Canandaigua Chamber of Commerce Logo
Greece Chamber of Commerce Logo
Small BUsiness Council Logo
Victor Chamber of Commerce Logo
Ostego County Chamber of Commerce Logo