W. Edward Newton Jr., CPA, CFP | 13850 Ballantyne Corporate Place, Suite 500 | Charlotte, NC 28277 | 704-552-8689

 

Financial Services by Newton Financial Network

Ed Newton, CPA, CFP

As a Certified Financial Planner I recently attended a financial services workshop in Indianapolis, IN.

It was hosted by Archer Funds, the registered advisor firm we work through to provide financial advice to our clients here in the Charlotte / Mecklenburg County area.

This forum allowed for two days of learning and networking. Speakers included the President of Archer Funds, Troy Patton, who spoke on the state of the market.

Troy is known for understanding how world events and complex factors affect our U.S. Market.

Steve Demas, Portfolio Manager, spoke on client services. Steve has a long history of working with clients on their personal finances and individual investments before dedicating all of his time to researching appropriate investments for the Archer portfolios.

John Rosebrough, Chartered Financial Analyst, provided insight into the technical aspects of portfolio management.

Troy, Steve and John actively manage the Archer Funds and the portfolios that are built around these funds. We offer investment advice through our Newton Financial Network.

For a free review of your investments, give me a call at 704-552-8689 or download one of my 4 FREE reports on investing at my Newton Financial Network website.  Thanks!  Ed

 


 

 

Ed Newton, CPA


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3 Tips for Safeguarding Your Business & Personal Tax Records

 

Although the Atlantic hurricane season will be over in a month or so I (and the IRS) want to encourage individuals and businesses to safeguard their tax records against natural disasters as well as common accidents, by taking a few simple steps.

Here are 3 tips to help you prepare in case an accident or disaster strikes.

1) Backup Your Records Electronically

You should keep a set of backup records in a safe place away from the original set. Keeping a backup set of records, bank statements, tax returns, insurance policies, etc is easier now that many financial institutions provide statements and documents electronically.

Even if the original record is only available on paper, it can be scanned into an electronic format. With documents in electronic form, taxpayers can download them to a portable backup storage device such as an external hard drive, CD or DVD that you can take with you in the event that you need to evacuate.

2) Document Your Valuables

 

Taxpayers should photograph or videotape the contents of their home, especially items of higher value. A photographic record can help an individual prove the market value of items for insurance and casualty loss claims. Photos should be stored at an outside location.

To document your valuables, the IRS has a disaster loss workbook, Publication 584, Casualty, Disaster and Theft Loss Workbook, which can help taxpayers compile a room-by-room list of belongings.

3) Update Your Emergency Plans

Emergency plans should be reviewed at least once a year. Personal and business situations change over time as do preparedness needs. When employers hire new employees or when a company changes functions, plans should be updated and employees should be informed.

 

NOTE: If we are doing your taxes we have copies of your return but not copies of all your support documentation like physical receipts, bills, invoices and so on.  If you scan documents a simple strategy is to copy or burn them to a flash drive or CD/DVD and store it offsite in a safe deposit box, storage unit or give it to a trusted family member or relative who doesn't live with you.  Online backup services like Carbonite will also work for electronic files.  Either way that 2nd or backup copy will come in handy if you ever need it.

 

(taken from IRS Special Edition Tax Tip 2012-10)
 



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As always you can call our offices if you have any questions about these or any other accounting, tax, financial planning or Quickbooks related issues, at 704-552-8689. 

 

Regards, W. Edward Newton Jr., CPA, CFP

Certified Public Accountant

 

 

 

W. Edward Newton Jr., CPA, CFP | Certified Public Accountant

13850 Ballantyne Corporate Place, Suite 500 Charlotte, North Carolina 28277 Phone: (704)552-8689 | Email: info@ednewtoncpa.com