WEEKLY QUOTE
“Imagination is the highest kite that can fly.” – Lauren Bacall
WEEKLY TAX TIP
Self-Employed Tax Obligations
There are a few tax considerations to consider when you work for
yourself. Generally, you’re required to file and pay estimated taxes every
quarter.
Determine if you are subject to tax: Subtract your business expenses
from your income. If your expenses are less than your income, the
difference is part of your income. If your expenses are more than your
income, the difference is a net loss.
Make quarterly payments if you’ve determined you need to make quarterly
payments using Form 11040-ES.
Filing annually: If you’re filing annually, you’ll need to use Schedule C to
report income or loss. To file your Social Security and Medicare taxes,
you should file Schedule SE Form 1040.
Deductions: If you’re using part of your home for business, you may be
able to make certain deductions, such as for your office or a portion of
your home’s square footage used for business purposes.
- This information is not intended to be a substitute for specific,
individualized tax advice. We suggest that you discuss your specific tax
issues with a qualified tax professional.
Tip adapted from IRS.gov7
WEEKLY HEALTHY LIVING TIP
Restorative Yoga – Long and Easy Stretching
Whether you have been curious about yoga but have never tried it, or if
you’re a seasoned yogi looking for something new, restorative yoga has
something for everyone. This gentle yoga uses props like blocks, blankets,
and straps. Stretches and poses are held for a longer time, yielding many
benefits.
Here are a few ways that restorative yoga can be beneficial for many
people:
It can help with neck, low back, hip, and shoulder pain
It can help with insomnia
All ages widely practice it, and modifications are available
It can relax the mind and help with anxiety
It may help to cope with serious illnesses and life events
It may improve respiratory and circulatory function
Check your local yoga studios or gyms to enroll in a restorative yoga
class. If you can’t find one, there are online yoga courses you can try. It
might be a stretch worth taking (ask your doctor if yoga might be right for
you).
Tip adapted from www.mindbodygreen.com8
WEEKLY RIDDLE
What do a shark, a zipper, and a comb all have in common?
LAST WEEK’S RIDDLE
New furniture will be delivered to your office on the
day before five days from the day after tomorrow. If today is August 18,
when will the furniture arrive?
ANSWER
August 24.
Stocks spent last week digesting the sharp gains of previous weeks as
investors assessed a tightening yield curve, the war in Ukraine, and an
uncertain outlook for economic growth and inflation.
The Dow Jones Industrial Average slipped 0.12%, while the Standard &
Poor’s 500 was flat (+0.06%). The Nasdaq Composite index led, picking
up 0.65% for the week. The MSCI EAFE index, which tracks developed
overseas stock markets, rose 1.02%.1,2,3
Stocks Pause
Stock prices bounced around following strong gains in two previous weeks
as money managers appeared to reposition their portfolios ahead of the
first-quarter close. Oil was under pressure all week as prices fell on news
that Shanghai imposed a strict lockdown due to COVID infections.
President Biden announced a sustained release of oil from the country’s
strategic petroleum reserve.
Bond yields reversed their recent climb. The flattening in the yield curve
triggered some concerns about economic growth and the possibility of a
recession.
Labor Market
With economic growth worries overhanging the market, last week’s
employment reports showed continued strong demand for workers. The
Job Openings and Labor Turnover Survey reported the number of open
positions remained near record highs, with job openings exceeding the
number of available workers by a record five million. Afterward, the
Automated Data Processing employment report saw private payrolls grow
by 455,000 in March, slightly above consensus expectations.4,5
Finally, the government’s monthly jobs report showed that employers
added 431,000 jobs in March, lowering the unemployment rate to 3.6%.
That’s approaching the 50-year low of 3.5% reached in February 2020.6
This Week: Key Economic Data
Monday: Factory Orders.
Tuesday: Institute for Supply Management (ISM) Services Index.
Wednesday: Federal Open Market Committee (FOMC) Minutes.
Thursday: Jobless Claims.
Source: Econoday, April 1, 2022
The Econoday economic calendar lists upcoming U.S. economic data releases
(including key economic indicators), Federal Reserve policy meetings, and speaking
engagements of Federal Reserve officials. The content is developed from sources
believed to be providing accurate information. The forecasts or forward-looking
statements are based on assumptions and may not materialize. The forecasts also
are subject to revision.
This Week: Companies Reporting Earnings
Wednesday: Levi Strauss & Co. (LEVI).
Thursday: Conagra Brands (CAG).
Source: Zacks, April 1 2022
Companies mentioned are for informational purposes only. It should not be
considered a solicitation for the purchase or sale of the securities. Investing involves
risks, and investment decisions should be based on your own goals, time horizon, and
tolerance for risk. The return and principal value of investments will fluctuate as
market conditions change. When sold, investments may be worth more or less than
their original cost. Companies may reschedule when they report earnings without
notice.
Footnotes and Sources
- The Wall Street Journal, April 1, 2022
- The Wall Street Journal, April 1, 2022
- The Wall Street Journal, April 1, 2022
- CNBC, March 29, 2022
- CNBC, March 30, 2022
- The Wall Street Journal, April 1, 2022
- IRS.gov, September 15, 2021
- Mindbodygreen.com, June 27, 2012
Investing involves risks, and investment decisions should be based on your own
goals, time horizon, and tolerance for risk. The return and principal value of
investments will fluctuate as market conditions change. When sold, investments may
be worth more or less than their original cost.
The forecasts or forward-looking statements are based on assumptions, may not
materialize, and are subject to revision without notice.
The market indexes discussed are unmanaged, and generally, considered
representative of their respective markets. Index performance is not indicative of the
past performance of a particular investment. Indexes do not incur management fees,
costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past
performance does not guarantee future results.
The Dow Jones Industrial Average is an unmanaged index that is generally
considered representative of large-capitalization companies on the U.S. stock market.
Nasdaq Composite is an index of the common stocks and similar securities listed on
the NASDAQ stock market and is considered a broad indicator of the performance of
technology and growth companies. The MSCI EAFE Index was created by Morgan
Stanley Capital International (MSCI) and serves as a benchmark of the performance
of major international equity markets, as represented by 21 major MSCI indexes from
Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an
unmanaged group of securities that are considered to be representative of the stock
market in general.
U.S. Treasury Notes are guaranteed by the federal government as to the timely
payment of principal and interest. However, if you sell a Treasury Note prior to
maturity, it may be worth more or less than the original price paid. Fixed income
investments are subject to various risks including changes in interest rates, credit
quality, inflation risk, market valuations, prepayments, corporate events, tax
ramifications and other factors.
International investments carry additional risks, which include differences in financial
reporting standards, currency exchange rates, political risks unique to a specific
country, foreign taxes and regulations, and the potential for illiquid markets. These
factors may result in greater share price volatility.
Please consult your financial professional for additional information.
This content is developed from sources believed to be providing accurate information.
The information in this material is not intended as tax or legal advice. Please consult
legal or tax professionals for specific information regarding your individual situation.
This material was developed and produced by FMG Suite to provide information on a
topic that may be of interest. FMG is not affiliated with the named representative,
financial professional, Registered Investment Advisor, Broker-Dealer, nor state- or
SEC-registered investment advisory firm. The opinions expressed and material
provided are for general information, and they should not be considered a solicitation
for the purchase or sale of any security.
Copyright 2022 FMG Suite.
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