Well Balanced. Volume 17. A round-up helping you get today right.

📜 Stock Quote

The real voyage of discovery consists not in seeking new landscapes but in having new eyes.

- French novelist Marcel Proust

🌅 Sharon Calhoun

Managing Director. It’s official.

We are pleased to announce the appointment of Sharon Calhoun as our new managing director. After 23 years with Vector, Sharon deeply understands client needs and the nuances of wealth management. She will continue to serve clients as a senior financial advisor.

🏦 Tax Time

A Few Tax Reminders

Your 2022 tax return will be due April 18th. If you need more time, filing an extension gives you until October 16th, but you still need to estimate and pay any taxes by tax day.

1099's
Be on the lookout for any 1099 tax forms, commonly called Composite 1099 Form. These forms will reflect transactions within an account from realized gain or loss, interest, or dividends.

Corrected 1099's
In addition to the initial 1099 document, receiving a "corrected" Composite 1099 Form is not unusual. A corrected 1099 is often the result of an income reclassification from the issuer, not the custodian. If you receive one, the revision of the 1099 might not be meaningful enough to require filing an amended return. You should always verify this with your tax preparer. At Vector, we suggest that most clients wait until the end of March to file.

Qualified Charitable Distribution (QCD)
If you made any charitable donation(s) using an IRA distribution (QCD), you should expect to receive a 1099R reflecting the total amount of your IRA withdrawals, including the QCD. Therefore, you must provide your tax preparer with your QCD amount(s) to accurately represent the non-taxable portion of the distributions.

⭐  Presidents’ Day

February 22, 1732 — Washington’s Birthday

Presidents Day was officially celebrated in 1879 to recognize George Washington’s February 22nd birthday. Since 1971, workers have enjoyed a three-day weekend in late February when Congress passed the Uniform Monday Holiday Act.

Ideas for celebrating the day: participate in a service project or watch a biographical drama starring Kevin Costner or Daniel Day-Lewis.

🍿  ICYMI

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