March 2021
Market Update
The March 2021 Market Thoughts Video is now available on our website. Brad McMillan, Commonwealth's CIO, recaps the market and economic news for February. Markets climbed last month, although they faced some turbulence on a spike in interest rates. While markets were choppy, the medical news improved. New cases and hospitalizations dropped, and vaccinations more than doubled. On the economic front, unemployment remains high, but companies are hiring again. Plus, stimulus payments hit bank accounts, and consumer confidence is moving up. Could a return to normal be in sight? 

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Pandemic Relief Measures and Your Tax Return
 
Two emergency relief bills passed in 2020 in response to the COVID-19 pandemic will make this an unusual tax season for many taxpayers. With these relief bills, there are provisions that may affect many households when filing their personal tax returns for 2020. Read more...
Finding Money to Pay College Bills Out of Pocket

You've saved for your child's college education through the years. Now your child is in college and there are still bills to pay. Maybe you underestimated exactly how much financial aid would cover. Or perhaps you planned on using some of your own resources or to take out more loans. In any case, you'll need to come up with some money soon. So where should you look?
Who is at risk for financial abuse?

Most of us think that we are not at risk for being taken advantage of by a financial scam artist. We are too young, too smart, too vigilant. In this short video, New York Times best-selling author and psychiatrist Edward "Ned" Hallowell, MD, argues that everyone is at risk, and he explains why thinking that you are not at risk puts you in fact in even greater risk.
Fraudulent Unemployment Claims

Employers are seeing an increased number of fraudulent unemployment claims being made under their employees' names and social security numbers.

If you receive any Unemployment Insurance (UI) or Department of Labor (DOL) notices in the mail stating that you are eligible for UI or that a debit card is coming to you relating to your claim, you should let your employer know as soon as possible and report the fraudulent claim to NY State. 

More information regarding UI fraud can be found on the NY State DOL and Federal Trade Commission (FTC) websites.