Freeman Stanley

04/19/2023

With tax season behind us and temperatures on the rise, Spring is a great time to clean up your finances! Check out these 7 tips to use this season to get your financial house in order:

Spring is the season of new beginnings; out with the old and in with the new. Any time is a good time to consider organizing your finances, but no time is better than the present. If you are unsure where to being, we have seven suggestions that may help you get a handle on your finances during the s...

03/22/2023

After the closure of Silicon Valley Bank (SVB) what happens next? 🤔

Credibility is everything to the Federal Reserve, but that credibility will be tested soon. Here's what you need to know:

💬 Fed Chair Powell confidently told Wall Street to prepare for a 25-basis point increase in short-term rates in March.
⚡2022's rapid rise in interest rates continues to be a stressor on the banking system.
💪The Federal Deposit Insurance Corporation (FDIC) has taken control of both Silicon Valley Bank (SVB) and Signature Bank (SB).
📣 The U.S. government has already approved plans to safeguard depositors and financial institutions affected by the closing of both SVB and SB.

With this in mind, it may be best to prepare for more market volatility until the Fed can provide further guidance leading up to its two-day meeting.

03/15/2023

Beware of tax hacks on social media, as they could lead to serious trouble with the IRS and hefty fines. CBS News has the story: https://www.cbsnews.com/news/taxes-2023-irs-w2-scam/

The tax agency is warning not to fall for social media advice to file a fake W2 in the hope of getting a big refund.

03/08/2023

Creating a financial plan for the future is one of the most important things you can do for yourself and your loved ones. Follow these six steps to develop a plan for achieving your long-term savings and retirement goals!

Plus, how to save toward goals amid layoffs.

01/06/2023

Did you know that aside from offering accounting and tax services, we have a Wealth Management branch to help you with your financial planning needs? Through working with our team, we can help you to plan for retirement, minimize your tax obligations, and reach your highest financial goals.

Take a look at our complete services here!

CPA firm Freeman Stanley provides wealth management services for high net worth individuals in the Detroit, MI area.

12/27/2022

The current state of the market has many people wondering if this may be the right time to initiate a Roth conversion. Depending on your situation, there are two main reasons you may want to consider a Roth conversion sooner rather than later…

The current state of the market has many people wondering if this may be the right time to initiate a Roth Conversion. Depending on your situation, there are two main reasons you may want to consider a Roth conversion sooner rather than later…

12/21/2022

The end of the year is here which means it's time to consider making these key financial moves to make your 2023 tax season easier!

Max out contributions to your 401k, prune investments and make sure you've paid enough to reduce headaches in April.

12/05/2022

Nervous you’ll take the phishing bait without even knowing it? Scammers have gotten amazingly creative at masquerading to look identical to reputable companies or even people you know. Here’s how to not fall for one. https://staysafeonline.org/theft-fraud-cybercrime/phishing/

Cybercriminals have become quite savvy in their attempts to lure people in and get you to click on a link or open an

11/30/2022

Many parents want to set up a plan to start saving for their children's college expenses, but haven't started yet. Here are five tips to help you begin: https://www.nerdwallet.com/article/investing/how-to-start-saving-for-your-kids-college

A new survey finds that 20% of parents of minor children want to save for their kid's college, but haven’t started yet. Here are five tips on how to begin.

11/23/2022

November is National Long-Term Care Month and a great time to start to make a plan for this increasingly likely and costly expense. To learn more about Long-Term Care, including what your options are and associated costs, visit: https://michiganfinancial.com/blog/november-is-long-term-care-awareness-month-or-concepts-from-our-financial-advisors

November is National Long-Term Care Month and a great time to start to make a plan for this increasingly likely and costly expense. Since so many people over age 65 are expected to eventually need some level of long-term care, we want to take this opportunity to provide a better understanding of lon...

11/15/2022

The IRS has released the 2023 tax brackets, with adjustments for inflation and increased standard deductions. CNBC has the story: https://www.cnbc.com/2022/10/19/irs-here-are-the-new-income-tax-brackets-for-2023.html #2023

The IRS has released higher federal tax brackets and standard deductions for 2023 to adjust for inflation. Here's what filers need to know.

10/26/2022

Applications are now available for student loan forgiveness. Here are some important details if you're thinking of applying: https://michiganfinancial.com/blog/important-details-on-student-loan-relief-program-or-updates-from-our-financial-advisors

Do you qualify for student loan forgiveness? Read more to find out the important details you need to know.