My[fi] & IRS Updates

Mar 31, 2021 | Business

my[fi] Enhancements

In our last post, we (re)introduced our client portal, my[fi]. A quick reminder on the name – When we came up with De[fi]ned Wealth Management, we wanted to highlight the F and the I in our name. Sitting back and thinking about the common thread that our clients share, our general approach to advice and our vision for the future, financial independence consistently was the theme. For our clients, it comes in the form of various goals: retirement, wealth accumulation, college funding, starting a business, slowing down, starting a family, charitable giving, or any other number of things; but regardless of whether those goals are for a 25-year-old or an 85-year-old, the thread that binds can almost always distill down to financial independence. Financial independence does not come with a one-size fits all approach because we have found that everyone’s definition of financial independence is a little different, a little personal. To us, my[fi] is our client’s gateway to it. Spelling it out, the name is quite intentional – My financial independence. Whatever that definition means to you though, it is yours – and my[fi] gives you the tools to own it.

To our clients that are not currently using it, a quick recap:

• Daily Net Worth / Balance sheet
• Daily Cash Flow / Budgeting tools
• Secure Document Vault
• Performance reporting on accounts we custody for you

And, to our clients currently using it, and clients that have not started yet:

NEW: Complimentary Credit Monitoring service for up to two people per household – powered by Experian.

We will be reaching out to clients over the coming months to help initiate this service, but feel free to book time with us if you’d like to get this service enabled sooner: https://definedwm.as.me. This setup process, depending on how much of my[fi] you’ve previously setup with us, will take five to thirty minutes.

IRS Extends Filing Deadline

The IRS has extended deadlines for individuals to file and pay 2020 federal income taxes to Monday May 17th. First quarter estimated tax payments based on income earned in 2021 are still due on April 15, 2021. It is unknown, as of this writing, if the extension will also extend Roth and Traditional IRA contributions for the 2020 tax year. It is safe to assume that those contributions should still be made by April 15th. If you haven’t made these contributions yet and you would like to discuss them with us, please book time with Joe or Chris – https://definedwm.as.me

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