Category Archives: Clients/Clients Only

Corrected Tax Forms Update, First Round Due Today, Then Every Two Weeks – Friday

Break In – We had three (you lucky ones have already been notified) corrected’s as of this writing, and Corrected’s appear to have been dropped first thing this AM… those waiting the Green Light, we will update first thing Monday- but so far so good!

 

Later today, maybe even tonight, the first round of Corrected Tax forms, (1099 Misc) will occur… Our biggest correction year, about eight ago, led to over half receiving corrected Tax forms.

Steadily over the past years, this Corrected percentage has fallen (Hopefully not jinxing us!)

Those of you that have contacted us, and are idling at the finish/starting line, we appreciate your patience, but hold off just yet, as the number/% of actual Corrected Tax Documents will give us confidence in moving forward!2019 1099 Consolidated snapshot

New to the Corrected Schedule is an every two week Friday Corrected’s Drop! Nice… Prior years were randomly scattered and left us clamoring for the day… especially as we neared the April filing date.

Behind the scenes we can electronically check everyone at once throughout the day….in year’s past, while due today, they may not post until very late in the day or even tonight, leading to a delayed victory lap until tomorrow!

Fingers crossed for a small number corrected’s!

Here is a link to the 2019 Consolidated 1099 Handbook explaining the 1099 in great detail, for those so inclined…. using the diary feature here of our post for future reference.

Those of us lucky ones, we will reach out to you immediately!

Today is a Friday, and as we log another Rainy Cold Week for the record books… Spring, We Welcome You!

Have a Great Weekend and Talk to you Next Week!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Happy Valentines Day! Abbreviated Day, Long Weekend … Presidents Day Reminder Monday

A Happy Valentines Day… especially to all the ladies, moms, Mrs., Grandma and guys too!

What a Rainy and chilly week it was here in the south…

Made for a Great Writing week (A lot last weekend too) much to our Editors Happiness…

With the kiddos out on the street today at the half way point, we are headed out early for our collective protection…

In a continuation of the goal for the twelve year old, yours truly will be out of town this weekend and Monday in honor of Presidents Day.

Capital Markets, Banks, Government and Our Office will be closed Monday as well.

Happy Presidents Day!

New Toy … Look for Neat Office Stuff Soon… after we figure out how to get around the no fly zone restrictions due to local airport…grrrr

John A. Kvale CFA, CFP

Tax Forms Update, Reminder EVERYONE Receives a Paper Copy, ETF Preview … Friday

While the unofficial due date, as mentioned last week here, is next Wednesday February 12th, forms are dropping day by day.

As a reminder, EVERYONE will receive a paper copy of these forms, electronic versions will be posted as soon as they are mailed out.

The Whole Enchilada form, AKA Consolidated 1099 which includes the following:

Form 1099-B, Form-DIV, Form 1099-INT, Form 1099-MISC, and Form 1099-OID

This will be the form that is the last to arrive, due to so many moving parts. Donald the Brian spent over a month in the fall last year confirming basis information to help thwart needed corrected forms… but they may still occur as each investment entity may also have a correction, spurring a completely new Whole Enchilada Consolidated 1099.

If there were less than $10 worth of activity, the IRS does not care and as such a 1099 will not be sent. Alert..this could happen easier than you think, even if the account had sizable value, but little interest or dividends and no sales!

Reach out with any questions!

ETF

Working on a deep dive, likely multi-part Article for the Newsletter about ETF’s … the more stats we find, the more interesting the Article is getting… Ya Mrs. Cain, you were right.. we would need to know how to do that extensive research paper…sure it easier with the web… Look for abbreviated posts here in the not too distant future!

Weekend Almost Here

Today is a Friday…. some unusually cold weather this week… maybe nearing the last way down here in the south…

This from a relatives front porch who is actually south of Dallas… we had none here!

20200206_143214712_iOS

Know you guys up north see this constantly, but not so much in our neck of the woods anymore…novelty remains here for sure!

Have a Great Friday and Super Weekend!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Questions from Relatives, Kids, Parents or Close Friends and Others …. Please Ask!

Recently, once again from the field … you guys have given us a great topic!

Glad to Answer Questions for Family, Kids, Parents or Close Friends

We have had multiple … almost apologetic, requests for some type of financial planning advice needed for a parent, family member, relative or child … we are glad to help!Helping hand adventure-1807524__480.

Not only do we consider it a part of our service to take care of you, but also family, relatives, and other very close friends as well.

We are honored that you may ask!

If someone stumped you with a financial planning question, relay it back to us … with almost five decades of collective experience we likely have crossed the bridge before. If we don’t know the answer we have a close contact to tons of professional contacts (Attorney, CPA or the like) in the related fields that do not mind giving us the answer!

We will leave it up to you to author yourself if you want,  or give us credit, either way is fine and certainly situational.

In an odd way, if we don’t know an answer it’s a learning experience for us for future reference and once again we are glad to help and gain the knowledge.

Most importantly, do not hesitate to ask us a question, we are here to help, and as mentioned above, have many years of experience as well as ample resources to tap on the shoulder … no question is too simple or too hard!

Have a Great “Reminding to Ask” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Q 4 Quarterly Review Cover Letter – Private Policy

There is a very old, well known, Wall Street saying that goes something like this.

“The stock market will always climb a Wall of Worry!”

Oddly there are two themes that are conveyed in this saying.

  1. The obvious, a wall of worry creates enough doubt for capital markets to operate efficiently and rise
  2. The less obvious, when everything is clear and the sun is shining, sometimes it’s near the end of the expansionary times and happy capital markets.

As fast as this year went, our memories are still very clear on what capital markets look like just twelve months ago.

In chicken little like fashion the sky was falling, Capital Markets, and participants were throwing a giant hissy fit, and the federal reserve was cranking up interest rates to participants dismay.

With 2020 hindsight, a nice wall of worry was created.

With earnings being the ultimate driver of capital markets, a drop in earnings, a recession, or global slow down, would lead to the decline in capital markets but for now we certainly don’t have to worry about item two above in that old wall street saying.

Speaking of recessions, be sure to review the capital market article in our Q1 2020 Newsletter, concerning the lowering of rates while the inverted yield curve – a much talked about by us event, and somewhat disdained. As mentioned in the newsletter we ran across this information mid quarter, and certainly must acknowledge the history brought up by the speaker and his chart, which may avert a recession, at least for now

Also in the newsletter two, two -part personal financial planning articles, one dealing with inheritance and another dealing with automobiles that you may find interesting as these topics were repeated in our office throughout the final quarter of the year and made for a great subject.

Thank you for your time, thanks for reading our blog posts, newsletter and YouTube videos, we enjoyed bringing you all original, somewhat rough at times information as we see it through our eyes!

In Closing

Your Fourth Quarter summary is enclosed on the front page of this report we have included our most recent investment allocation from your Investment Policy Statement. This is also the time we attach our Private Policy Statement for the year along with our opportunity to offer our latest ADV filings; Requests for review will be accepted via phone, mail or email, and mailed immediately upon request.

Sincerely,

John A. Kvale CFA, CFP

Enclosure (2019 Report, Private Policy)

 

J.K. Financial, Inc.

PRIVACY POLICY NOTICE

Our Promise to You

As a client of J.K. Financial, Inc., you share both personal and financial information with us.  Your privacy is important to us, and we are dedicated to safeguarding your personal and financial information.

Information Provided by Clients 

In the normal course of doing business, we typically obtain the following non-public personal information about our clients:

  • Personal information regarding our clients’ identity such as name, address and social security number;
  • Information regarding securities transactions effected by us; and
  • Client financial information such as net-worth, assets, income, bank account information and account balances.

How We Manage and Protect Your Personal Information

We do not sell information about current or former clients to third parties, nor is it our practice to disclose such information to third parties unless requested to do so by a client or client representative or, if necessary, in order to process a transaction, service an account or as permitted by law

In order to protect your personal information, we maintain physical, electronic and procedural safeguards to protect your personal information.  Our Privacy Policy restricts the use of client information and requires that it be held in strict confidence.

Client Notifications

We are required by law to annually provide a notice describing our privacy policy.  In addition, we will inform you promptly if there are changes to our policy.

Please do not hesitate to contact us with questions about this notice.

 

 

 

 

 

 

A True Yogi Berra saying may be fitting now – It’s like déjà vu all over again!”

Tariffs and Trade War Talks Continue

While the tariff banter seems relentless and every day changing, leading to Capital Market bipolar movements, one day irrational exuberance, and the next day irrationally depressed, as mentioned in our Q4 Newsletter, tariff talk has been going on for decades. With today’s constant bombardment of immediate news stories and short clips it seems, present party included, to be constant and all encompassing. The reality is this likely will work itself out, just as seen in the graph in the newsletter. Our bet is once the tariff talk turns into tariff agreements, we will see market relief and higher overall interest rates. For now, there’s no doubt that the tariff talk is slowing the global economy and there is no envy for public company managers trying to navigate the possible changes that occur on a day by day basis, making it very tough to stock inventory and make purchases.

Treasury Rates- Interest rate cycle

Given the afore mentioned Tariff Talk, FOMC (Federal Open Market Committee) led by chief Jerome Powell and a company have embarked on a lowering of rates, twice to be exact, but only two .25 basis points each, in an attempt to help ease interest rate burdens and spur the economy. While not huge fans of the lowering of rates at this time due to gun powder needs at a future, when the inevitable recession occurs, at this time it appears we are on an interest rate decrease path, a complete 180° turn from just one year ago, when reserve officials were raising. If there is an agreement in Tariff talk, lowering of rates would likely stop, and we might even hear talks of raising, making for an interesting rate cycle. Time will tell.

Taxes or the savings of taxes paid

As we head into the final quarter of the year it’s time to make sure we’ve done all we can do for this years’ , especially items that have no look back features. As also mentioned in our Q4 newsletter, be sure to max those 401(k)s, contribute or distribute from 529‘s, complete Required Minimum Distributions (RMD’s) and make sure those charitable giving are complete this year, as all of these items have a hard stop year-end deadline.

Have a great day and start to fall!

Sincerely,

John A. Kvale CFA, CFP

Enclosure 2019 Report

SLOA Notice Mailing today – What? (Clients Only) No Action Needed – Just a Heads Up in Advance!

Today, annual mandatory mailings for SLOA – (Standing Letter of Instructions) are being mailed via snail mail..

SLOA’s are any instructions on file to transfer/move money from one account to the other.

Linked accounts are titled similarly and examples include  … linking from a Bank or checking account, savings account, or even linking to multiple investment accounts such as an IRA or other type of internal account.

Letter looks like this … just FYI

img_5873

 

No Action is required by you…. this is just a heads up for confusion purposes!

Have a Great “SLOA Notified” Day – Is that a word? HAHA

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents