Everyone wants financial independence backed by stability and security, and FSG's Financial Planning Team can help you achieve this. Whether it's investment/retirement planning, estate planning, or disability/life insurance, our team provides trusted advice with the goal of protecting and growing your assets. Contact Mike Edwards at (720) 858-6289 to learn how we can help.
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Need workers' comp and employee benefits, while also considering a PEO option? We can help!
We've teamed up with
Bene-Fit Solutions to provide competitive rates for worker's comp and employee benefits, while also providing the convenience of a PEO. For more information, please contact
Mitch Laycock at
(720) 858-6297.
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Farewell to Andrea, and Welcome Aboard, John. |
After 17 years with COPIC Financial Service Group, Andrea Levine retired in January 2018. She has been a tremendous resource for her clients, helping them to understand the complexities of health care and find the best solutions for their needs. We are grateful for her commitment and numerous contributions, and wish her well as she moves into her next chapter.
 Stepping into Andrea's role is John Kaufman, an established professional with the expertise to navigate the ever-changing employee benefits market. John has more than 15 years of industry experience, and most recently, he served as a Regional Vice President for Aetna in Colorado. We are excited to have John join our team as he brings a proven track record backed by a dedication to provide clients a consultative, innovative, and strategic approach.
John will be reaching out to clients in the coming weeks to ensure a smooth transition. If you have any questions, feel free to contact
John directly at (720) 858-6287.
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5 Ways the New Tax Law Will Impact Financial Planning |
Now that the tax overhaul is law, be aware of these five changes that may impact your planning strategies going forward:
- Section 529 plans are now available for all education costs, not just college education expenses (pre-college expenses are limited to $10,000 per year).
- Interest on home equity lines of credit (HELOC) and home equity loans can no longer be deducted against income.
- Investment expenses paid out of taxable accounts are no longer deductible against income. Additionally, the new law eliminates the deductibility of tax preparation fees (accountants and software), unreimbursed employee business expenses, and safety deposit box fees.
- Starting in January 2019, alimony payments after divorce will not be a deductible expense.
- Deductions for purchasing business vehicles have increased.
There are many changes to the current tax code that may create both business and personal financial planning opportunities. Read the
full article from Financial-Planning.com to learn more, and contact
Mike Edwards at (720) 858-6289 to discuss how the new tax law may affect your financial planning strategy.
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Securities and Investment Advisory Services offered through Woodbury Financial Services, Inc., Member FINRA, SIPC and Registered Investment Adviser. COPIC Financial Service Group and Woodbury Financial Services, Inc. are not affiliated entities.
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Workplace Activities Continue to Make Headlines |
Reports of sexual harassment and improper activities in the workplace are on the rise. Every business is vulnerable to a wrongful employment practices allegation. Are you prepared to deal with employment-related accusations? If not, there is an insurance solution called Employment Practices Liability Insurance (EPLI). This coverage protects owners, directors, officers, and employees, and can sometimes extend to claims brought by third parties.
Why Choose a Stand-Alone Employment Practices Liability Insurance?
A Quick and Affordable Solution
EPLI policies are important for smaller businesses to protect themselves. In fact, EPLI has become so important to the success of small businesses that it is offered at more affordable prices and is tailored specifically for smaller companies. You can receive an immediate indication on this important coverage simply by providing the number of owners and full and part-time employees associated with your business. Contact
Mitch Laycock at (720) 858-6297 with any questions.
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Changing Jobs? Know Your 401(k) Options |
If you are changing jobs, you may be wondering what to do with your 401(k) plan account. Keep these four considerations in mind as you decide what will be best for your situation:
- Review your summary plan descriptions (SPD) to familiarize yourself with your plan's vesting schedule. The SPD spells out what you are entitled to regarding the distribution of your vested balance.
- Attend to outstanding plan loans. In general, if you have an outstanding plan loan, you will need to pay it back, or the outstanding balance will be taxed as if it had been distributed to you in cash.
- Don't spend it. If you take a distribution, you will be taxed at ordinary income tax rates. And if you are not yet 55 years old, an additional 10% penalty may apply to the taxable portion of your payout.
- Consider a direct rollover to an IRA or to another employer's 401(k) plan. There are strong arguments to be made for either option; read the reasons to roll over to an IRA and to another employer's 401(k) in the full article from Woodbury Financial.
Since the decision to move your 401(k) savings can have significant consequences, it's wise to have a professional assist you with making a decision that is based on your personal situation and priorities. Contact
Jeff Feakes at (720) 858-6285 for more information about retirement planning.
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Securities and Investment Advisory Services offered through Woodbury Financial Services, Inc., Member FINRA, SIPC and Registered Investment Adviser. COPIC Financial Service Group and Woodbury Financial Services, Inc. are not affiliated entities.
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IRS Sets 2018 HSA Contribution Limits |
The amount that individuals may contribute annually to their health savings accounts (HSAs) for self-only coverage will rise by $50 in 2018. For HSAs linked to family coverage, the contribution cap will rise by $150.
2018 vs. 2017 HSA Contribution and Out-of-Pocket Limits
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2018
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2017
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Change
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HSA contribution limit (employer + employee)
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Self-only: $3,450
Family: $6,900
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Self-only: $3,400
Family: $6,750
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Self-only: +$50
Family: +$150
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HSA catch-up contributions (age 55 or older)*
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$1,000
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$1,000
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No change**
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HDHP minimum deductibles
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Self-only: $1,350
Family: $2,700
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Self-only: $1,300
Family: $2,600
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Self-only: +$50
Family: +$100
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HDHP maximum out-of-pocket amounts (deductibles, co-payments and other amounts, but not premiums)
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Self-only: $6,650
Family: $13,300
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Self-only: $6,550
Family: $13,100
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Self-only: +$100
Family: +$200
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* Catch-up contributions can be made during the year by HSA-eligible participants who will turn 55 by year-end.
** Unlike other limits, the HSA catch-up contribution amount is not indexed; any increase would require statutory change.
Contributions for a given year may be made until the individual's federal tax return due date for that year, without extensions, in which case the HSA administrator must indicate that post-year-end contributions are attributed to the prior calendar year.
For more information about HSA contributions read the
full article from Society for Human Resource Management and contact
John Kaufman at (720) 858-6287 with any questions.
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Even if you are not currently in the market for insurance products, we are always available to assist you in getting the best coverages at the best prices. Call us at (720) 858-6280!
Sincerely,
Sue Swanson
President
Please add us to your "safe-senders" list! Add
sswanson@copic.com to your address book to ensure that our messages to you don't get stuck in your spam filter!
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