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A Holiday Message from Phil Multop
The holiday season is in full swing! It feels as though this time of year comes so fast and is over before we know it; making it easy to lose sight of the meaning of the season. Along with being swept up by holiday parties, choosing the perfect gift and overindulging in holiday treats, we encourage you to take a step back and reflect. Reflect on the hardships that made you stronger and the decisions that made you wiser. Reflect on the people in your life who had a part in molding you into who you are today. May we also be mindful of the loved ones who will be missed this Christmas but are still in our hearts. We wish that your homes be filled with love and happiness.
As 2014 concludes, the holiday season comes and goes, all of us here at Multop Financial would like to express our gratitude for your ongoing support. May God bless your family this Christmas and in 2015.
"What is Christmas? It is tenderness for the past, courage for the present, hope for the future. It is a fervent wish that every cup may overflow with blessings rich and eternal, and that every path may lead to peace." -Agnes M. Pharo
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Tax Updates
Approaching a Forecasted Change
With tax season quickly approaching, it is important to be made aware of the newly implemented tax laws and how they will affect the individual taxpayer. Much like a snowflake, no two tax seasons are identical; so it is the taxpayer's responsibility to take proper precautions to ensure good standing at the end of each tax year. One notable change we feel is worth mentioning, based on common concerns presented by the taxpayer is ObamaCare.
ObamaCare is the most commonly used and unofficial term for the Patient Protection and Affordable Care Act (also known as the Affordable Care Act, or ACA). The ACA was signed into law by President Obama in 2010 to ensure that all Americans have access to affordable health insurance; a key provision being the Individual Shared Responsibility Provision taking effect in, and likely becoming the biggest change to the 2014 tax year. This act is intended to prevent people from waiting until they are sick or injured to seek health coverage; in lieu of which, health insurers are now required to accept anyone who applies, and cannot base coverage costs on gender or the status of the applicants' health.
The Affordable Care Act has also increased the percentage of the taxpayer's adjustable gross income determining the limit of medical expenses the itemizing taxpayer can deduct from 7.5% to 10%. Those over the age of 65 and their spouses are exempt from this new implication and may continue using the 7.5% threshold through tax year 2016.
If you have been granted the ACA tax subsidy, you will most likely be offered an Advanced Tax Credit in the form of a direct government payment to your insurance company in hopes of lowering monthly premiums. You may also choose to pay the full monthly premium to your insurance company and claim the subsidy as a tax credit while filing your return. To qualify for an ACA subsidy a household's annual income must be between one and four times the Federal Poverty Level. For more details on the Affordable Care Act and to ensure that you are in compliance with the newly implemented laws, you can visit the IRS website by clicking here.
If you have any questions regarding the upcoming tax law changes and how they will affect you, please click here or contact us at (360) 671-7891.
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Protect your Personal Information
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As the dependency upon networked operations and information technology systems increases, so too does the convenience in nearly every aspect of our lives. However, we must stay aware of the vulnerabilities to cyber-based threats that this dependency may cause.
 With the help of Dan Multop, IT Specialist and son of Phillip Multop, our team here at Multop Financial makes cyber security a top priority in order to protect our clients' information. We cannot disclose the full details of our security software, but can assure you that we utilize a state of the art Unified Threat Management Firewall to protect our network from all the current vulnerabilities being found daily in all major platforms and products. This corporate security service we use utilizes real-time internet data from over 50 billion requests per day. Additionally, we utilize an advanced customized e-mail filtering system to help prevent spoofed e-mails, malicious attachments and links, including ISP's who are prone to allow illegal and unethical use of their services. Due to the rise of major retail stores and personal accounts being hacked, it is extremely important to change your password often, including capital letters, special characters, and numbers. Most websites also have a recovery security series of questions. These questions are often times easy for hackers to find or guess, so we recommend staying away from using questions with answers that can be found on public records, such as "where were you born?" In some cases where you can't choose the questions, come up with a standard alternative answer. For instance, if the security question were, "Where were you born?" you could answer "BellWA" or "Bell60" (which is the first four letters of your city and the last two digits of the year you were born) rather than just "Bellingham". Be creative, but remember to be consistent so you don't have to remember different answers. To learn more about Dan Multop, IT Specialist at Multiple Computer Solutions, Inc., or have any questions or concerns about cyber security please click here or call us directly at (360) 671-7891.
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Securities and Investment Advisory services offered through Cetera Advisors LLC, an independent, registered broker-dealer and Registered Investment Advisor. Member FINRA/SIPC. Cetera is under separate ownership from any other named entity.
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Congratulations
Tyler & Aretha Ryan
Alaina Dawn Ryan
Multop Financial is proud to introduce the newest member of the Ryan family; Alaina Dawn Ryan! Alaina was born at 12:05 am on Monday, December 1st, weighing 7 pounds, 11 ounces and is as happy and healthy as can be. Big sister, Camille, is adjusting well and having fun with "her" new baby.
Aretha will be out of the office on maternity leave through the end of February. As we all know, Aretha takes pride in the quality and consistency of the client service here at Multop and is leaving her duties in capable hands; Lauryn Peugh, our Client Services Assistant. To learn more about Lauryn and how she can assist you with your account service, please click here.
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TAX APPOINTMENTS ON THE WAY!
All current tax clients can watch their mailboxes during the second week of January. We will be sending out your pre-scheduled tax appointments and worksheets. We take the liberty of setting up the appointments in advance in order to ensure that every client gets an appropriate amount of time with our team of CPAs. Please call at any time with questions and we look forward to seeing you at tax time.
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Have you Taken your RMD?
At Multop Financial we ensure that our advisory clients are in compliance
When you reach the age of 70 1/2 the IRS requires you to start making withdrawals from your Traditional IRA(s). These annual IRA withdrawals are known as Required Minimum Distributions. All RMD's must be taken no later than December 31st each year. For anyone not yet working with our financial planning department, please feel free to contact our office with any questions.
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Multop Holiday Recipe
Pumpkin Cake Roll
'Tis the season for gathering around the holiday table, making toasts, enjoying a festive meal, and satisfying your sweet tooth with a scrumptious holiday treat. Our Pumpkin Cake Roll recipe is an instant favorite for all ages, and pairs nicely with a hot cup of chai and good company. Click here to see the full recipe!
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We appreciate your business and referrals. Please feel free to forward our current e-Compass to your friends and family.
www.multop.com
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Holiday Office Hours
Dec 23rd 9:00 - 5:00 pm
Dec 24th 9:00 - 12:00 pm
Dec 25th CLOSED
Dec 26th CLOSED
Dec 31st 9:00 - 12:00 pm
Jan 1st CLOSED
Jan 2nd 9:00 - 5:00 pm
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Regular Hours
Monday - Friday
9:00 - 5:00 pm
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Multop Financial
2210 Rimland Dr, Ste 101
Bellingham, WA 98226
Phone: (360) 671-7891
Toll Free: (888)-671-7891
Fax: (360) 671-4963
Email: info@multop.com
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