News & Views January 25, 2021

News & Views

January 25, 2021

Inside Look

True statements about members of the Syverson Strege team:

I worked at a department store surveilling and detaining shoplifters.

I gave myself a digital facelift while working from home.

As a young child, my friend and I would crawl down into the neighborhood storm sewer as our secret hangout spot. I even stored some of my extra cash in a piggy bank down there until it once got washed away.

I have been yelled at by a Secret Service member on top of the White House.

I needed to have a snack pack quantity of raisins surgically removed from my nose.

I have moved 18 times in my life.

I have written a poem that was published in a book.

I have traveled across the country to see the same band over 200 times.

I once got my sundress stuck in the escalator at Von Maur.

I played in a rock and roll garage band in 8th grade.

I grew up riding motorcycles in Minnesota.

I do not have a middle name.

We have two pet frogs; one’s name is Wilbur and the other’s name is Wilbur.

I grew up with wolves in my back yard. Not in the woods behind my house; my actual back yard. They were rescued by my grandparents.

We have a Wahoo mounted in the basement.

I have been in seven accidents, one of which wasn’t my fault.

I was on the floor at Carver-Hawkeye Arena and the field of Kinnick Stadium on the same day.

I jumped in the pool backwards and ended up with stitches under my chin.

I got stopped by a state trooper for speeding on senior skip day.

I (a male) had shoulder-length hair in high school which I straightened regularly, both chemically and with a flat iron.

Our family had a three-legged hamster for a pet.

My great uncle Carl Magee invented the parking meter.

I sip tequila and whiskey neat.

I (female) do not have pierced ears.

I was once on a plane that moved to the head of a 90-minute airport takeoff line because my flight was carrying a donor organ.

I was once on a helicopter that was forced to make an emergency landing in a farm field because it was low on gas.

I still have a baby tooth.

I own a special edition box set of That 70s Show.

I have jumped out of an airplane in New Zealand.

I came to my Syverson Strege internship interview with six small-loop earrings.

I once planned a funeral for someone I never met.

I’m known as the brunch maker in my house.

In high school and college, I had what is known in boxing as a glass jaw.

I have a basset hound named Chester.

I used to have red hair in high school.

I raced a car around Newton Speedway at more than 150 mph.

I was the guitar player for an aspiring rock band.

I broke both arms at same time.

I have owned over 10 boats.

I (a male) showed up to try out for the Drake Women’s Volleyball Team.

I thought my best chance to make an Olympic Team was in team handball.

Community Involvement/Philanthropy

This past holiday season, Syverson Strege was able to sponsor nine children, ages 10 – 17, for Orchard Place’s Holiday Drive. Orchard Place provided each child’s wish list that consisted of three items each. Syverson Strege team members shopped for those items and then wrapped the gifts and delivered the gifts to Orchard Place.

Through generous gifts from individuals and Des Moines businesses, the Holiday Drive strives to provide gifts to more than 1000 children served by Orchard Place.

Orchard Place helps many of the state's most emotionally troubled and helpless children, striving to help them develop strong, promising futures. Through their three branches of service, they contribute to the community's well-being by serving the mental health, substance use, educational, and juvenile justice needs of children, adolescents, and young adults.

Orchard Place is a nationally recognized leader in children's mental health and juvenile justice services, and is one of only a few organizations in the country that incorporates both mental health and juvenile justice services for children and adolescents. Click here to learn more about Orchard Place.

Out and About

Syverson Strege Cofounder, David Strege, attended the Jump$tart 25^th Anniversary online event to celebrate 25 years of the organization’s work. The Iowa Jump$tart Coalition seeks to improve the personal financial literacy of all Iowans.

Deb Longseth, Executive Assistant and Event Planner attended an Executive Women International meeting featuring Sarah Roeder from Unity Point Heath Foundation. Sarah discussed the merits of putting together a “vision board” to help formalize goals, increase motivation, and build confidence. Deb is a member and past president of the Des Moines EWI.

3,914?

The number of miles Johnne Syverson traveled on his motorcycle in 2020.

Articles

What You Need to Know about the Latest COVID Relief/Stimulus Bill

By Matt Roberts, MFM, CFP®, CAP®

A coronavirus relief bill, dubbed by some as the “Coronavirus Stimulus 2.0” bill, was signed by President Donald Trump on Sunday night, December 27 as part of the $2.3 trillion, 5,000+ page Consolidated Appropriations Act of 2021. It includes a $900 billion COVID relief package, avoids a government shutdown, and extends unemployment benefits.

President Trump’s delay in signing the bill may translate into a gap in benefits for more than 12 million Americans. However, benefits are retroactive so all Americans will receive what is due to them. President Trump is also encouraging the $600 stimulus checks to be raised to $2,000, which will require a separate bill which is being considered by some Senate leaders.

Here are key provisions of the stimulus bill.

Personal Income Tax Changes, Extensions & Charitable Giving

The hurdle to deduct medical expenses has been permanently lowered to 7.5% of Adjusted Gross Income (AGI).
The bill extends the Qualified Charitable Contribution of $300 per taxpayer as an above-the-line charitable contribution into 2021 (please note that joint filers can deduct $600 in 2021, which is not the case for 2020).
The bill extends limitations for cash gifts to charity (Donor Advised Funds are not eligible) to 100% of AGI in 2021. Cash gifts are normally limited to 60% of AGI.

Additional Recovery Rebate Checks

Qualified taxpayers will receive a check for $600 per taxpayer with an additional $600 per child under age 17.
The amount begins phasing out $75,000 (single filer), $150,000 (joint filer), and $112,500 (head of household filer).
Eligibility is based on the 2019 tax return, but will be “trued-up” based on the 2020 tax return (please note there is no clawback if 2020 income is higher than 2019 income).
Those who qualify based on their 2019 tax return will receive a check. If you qualify based on your 2020 tax return, you get a refundable credit at filing.

Extension of Unemployment Benefits

Regular unemployment benefits are extended another 11 weeks.
Unemployment benefits are extended to self-employed individuals through April 5, 2021.
Regular unemployment benefits are increased by $300/week for 11 weeks.

What isn’t included?

The temporary waiver of Required Minimum Distributions (RMDs) in 2020 will not be extended into 2021.
No relief was offered for unwanted 2020 RMDs (i.e., there will be no further opportunities to return the unwanted RMD to avoid the taxation of the income).
No further student loan relief for federally backed student loans.

If you have questions about whether or not the “Coronavirus Stimulus 2.0” bill affects your unique situation, please call you financial planner or associate financial planner at 515-225-6000.

In case you missed these articles on social media…

What You May Need to Know About Year-end Tax Planning

By guest author Ann Menke, CPA

A 2020 Message from Leadership

By Lance Gunkel, Matt Roberts, and Meri Grogan

Be Alert for COVID Stimulus, Vaccine Scams

By Iowa Attorney General Tom Miller

When We Will be Clear From COVID-19 Is Not Clear

David Strege, CFP®, CFA, CKA®

2020: An Employee’s Perspective

By Debbie Richards, Receptionist

Baseball Card Collecting: Lessons for Life

By Lance Gunkel, CFP®, CFA

Employee News-Congratulations

Congratulations to Michael Murkins, Associate Financial Planner, for becoming a CERTIFIED FINANCIAL PLANNER^TM professional! He received the CFP® designation which is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards.

There are two main parts to the requirement: completion of CFP Board-approved coursework, and a bachelor's degree in any discipline from an accredited college or university. The CFP Board recommends studying a minimum of 250 hours for the six-hour exam. To learn more about Michael, click here.

Congratulations to Chief Planning Officer Matt Roberts for receiving his CAP® (Chartered Advisor in Philanthropy) designation! A CAP® professional is trained in philanthropic giving and helps clients with effective charitable giving as part of their larger financial or estate plan.

Employee News-Work Anniversaries

Jason Gunkel – 17 years on January 1

Syverson Strege congratulates Jason Gunkel, Chief Investment Officer and Financial Planner, on his 17th work anniversary! We appreciate your commitment and loyalty to Syverson Strege and its clients. To learn more about Jason, click here.

Deb Longseth – 15 years on December 29

Congratulations to Deb Longseth on her 15-year work anniversary! We are thankful for Deb’s loyalty, enthusiasm, and experience. Her ability to plan events, provide support for the marketing department, and serve the entire firm and it's clients is truly a blessing to Syverson Strege. Learn more about Deb here.

Julie Summa – 1 year on January

Congratulations to Julie Summa, Director of Marketing & Communications, on her 1-year work anniversary! Julie helped Syverson Strege navigate a challenging year in 2020 with improved communications to better serve our clients. Click here to learn more about Julie.

Holiday Hours

In commemoration of President’s Day, please note that Syverson Strege employees will be off on Monday, February 15 and resume work on Tuesday, February 16.

4^th Quarter Newsletter

In case you missed the 4^th quarter newsletter, click here.

Podcasts

This Story Needs to Be Heard podcasts highlight stories of unsung heroes who are living a life of impact within Central Iowa and the surrounding area. Perhaps these podcasts will inspire you to think about your life message.