The first corrected re-issue of 1099′s has been processed and we have only a single digit number of recipients. Those lucky few, whom we have already contacted are covered, so the rest of us can wait in hopeful glee we dodge the next corrected run, due out in about a week. 
Generally, all other items being equal, which they never are, the first batch of corrected 1099′s is the largest, with future batches tapering off further.
A couple of interesting 1099 facts worth remembering:
- Corrected 1099′s resulting in less than a $10 difference will not be re-issued
- 1099′s less than $60 total, will generally not be issued, with a few exceptions
- 1099′s are Consolidated i.e. Int, Div and B are one consolidated page, for a greener, paper saving, and sometimes tax confusing delivery
Early bird tax filers, we thank you all, and wish more were like you, but again we ask you “hold” on hitting the send button until we receive more clarity on the next few rounds of corrected 1099′s.
Donald the Brain
Donald returned mid-week from his four day trip. The trip’s purpose was education/training on our new trading and rebalancing service, Tamarac (more to come soon.) The trainer, whose tenure of over 3 years of monthly groups of 50, announced Donald was the first person/firm ever to have the system completely 100% working before the end of the sessions. He even ended the classes with helpful encouragement and pointers to his fellow attendees. That is why his nick name is ”The Brain.”
Out of the office today
I am out of the office today with end of the month review, newsletter prep, and a fun late afternoon with a group of fellow investment managers and indian princess dads. It was a roller coaster week for some reason, maybe due to the “Blue Screen of Death” from one of Donald the Brain’s three computers (nice to check our backup systems in real time…it worked.) The good news, as usual, it was a super fun week thanks to you guys, and the ever-changing capital markets!
Thanks for reading. Next week, a few more tips on the tax forms, along with capital market updates!
Have a Great Weekend !
JK
214-706-4300
www.jkfinancialinc.com
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John Kvale
Donald Capone
Fastest Quarter In A While, NBA Market (Nothing But Apple), Good Friday with The Masters
Take a deep breath, the first quarter of 2012 is in the books in what seems like a flash!
Domestic Indexes performances were dominated by one stock, Apple! In what a contrarian investor we like and follow regularly, Doug Kass calls “NBA” markets, “Nothing But Apple” Quarter. It has been some time since we have seen such a large company dominate the indexes; flashback to 99? In what have you done for me lately fashion, time will tell what the future brings.
As you read this, I am out-of-state today for a quick turn around trip. Tomorrow brings a rest for domestic capital markets as Good Friday is honored and we will be out of the office as well. As a former collegiate golfer (helped pay my way through college) having Good Friday and The Masters synched is terrific.
Speaking of sporting events, our Q2 2012 Newsletter is on the press and turned out very well, with a light-hearted first pitch baseball theme. We compare and contrast the famous sport to investing, building a portfolio, and the psychology needed to be a good long-term investor. We think you will like it and even updated our market thoughts with greater detail than normal.
Lastly, we are super pleased with the Robert McTeer responses and look forward to seeing all of you at the April 28th event. (Don’t forget to RSVP to cathy@jkfinancialinc.com as we need a firm headcount.)
Have a Great Day and a Super Extra Loooong Weekend!
JK
214-706-4300
www.jkfinancialinc.com
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Posted in Investing/Financial Planning, John Kvale, Market Comments, Personal
Tagged Apple, Good Friday, Newsletter, Robert McTeer, The Masters