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
John Kvale
Donald Capone
Energizer Bunny Capital Markets….”Going and Going”
For those familiar with the Energizer Bunny that keeps “Going and Going” we liken the capital markets of late to the famed commercial.
Yesterday capital markets were faced with further discontent from G-20 members who were meeting just south of the US border in Mexico city, only to have market participants shrug it off later in the day. Along with G-20 concerns, gas prices have risen to levels that provide a small headwind, nearing $110/barrel WTI.
Last night, our timely party poopers, the S&P Ratings Agency, put Greece on Selective Default notice. In true Energizer fashion the capital markets smartly appear to keep “Going and Going.”
By some estimates over $450 billion has left the capital equity markets in the last few years in search of a new home. If our feelings are correct, that money may be returning, happily providing our “Going and Going” markets. Markets never rise in a permanent straight line, but let’s all enjoy the ride!
Today, from the Eastern US area, Donald starts his second of three full days of training on our new rebalancing allocation system, Tamarac. So far our expectations have been met, which means further enhancements to investment portfolios. Thank you technology!
Have a Good Day!
JK
214-706-4300
www.jkfinancialinc.com
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Posted in Donald Capone, Investing/Financial Planning, Market Comments, Personal
Tagged G 20, Greece, S&P Ratings, Tamarac