Author Archives: HFM Advisors


Coat Drive Expands, Helps South Jersey Citizens

SNJ Today featured HFM Investment Advisors, Inc. for launching its 8th Annual Coat Drive. By spreading the word and informing more people of our goal to keep South Jersey citizens warm this coming winter, HFM hopes to collect a record-setting amount of coats.

To find out how you can help, where you can donate a coat, and who the donations benefit, click here: Help Your Community

Click here to see the Coat Drive coverage:

HFM Coat Drive South Jersey

 

 


Questioning Your Financial Future?

…many people do.

Even if you have an investment strategy it may not bring you true investing peace of mind. The vast majority of investment choices are driven by emotional and psychological factors rather than on logic and rational thought.

Our Investors Dilemma Report outlines the process investors go through when facing important financial decisions and how your emotions could trip you up along the way.

Read about how uncertainty plays a large role in dictating how investors feel as well as how they behave. Bonus: Learn the three simple rules of investing and much more.

At HFM we believe the difference–maker to helping clients have a successful investing experience is sensible investor coaching from a experienced Advisor. Coaching can help guide you to make non-emotional financial decisions.

Click HERE to download our free report today!

 


2016 Coat Drive totals are in!

HFM would like to thank the community for their donations to their 7th annual coat drive. This year we collected just over 3,000 coats which takes our seven-year grand total to 12,200. The 2016 coat drive, which began in October, was hoping to reach the 10,000 coat mark but far surpassed it. Throughout the winter the coats were distributed to those in need throughout Gloucester County.

The drive had over 30 coat drop-off locations throughout the area. Several volunteers participated in the drive including students enrolled in the Standard 9 program at the Y.A.L.E School. The students volunteered once a week throughout the drive sorting and organizing the thousands of coats received.

 

Our Annual Mission

Our Coat Drive mission is to provide every man, woman and child in need in Gloucester County with a coat for the winter. Over 20 Gloucester County organizations received the coats such as the AmVets, Kitchen of Hope, Glassboro Success Center, Angels Clothing Closet, Unforgotten Haven, and many more. Visit http://hfmadvisors.com/our-committment/ to see a complete list of recipient organizations.

Paul Blackstock and his team from the nonprofit, Heart of South Jersey, worked quickly to distribute the coats throughout Gloucester County. When asked who receives the coats, Paul Blackstock said, “Families throughout the county and also homeless veterans. We work with VFWs, American Legions and several other organizations to get them out to those who need them.”

Our President, Michael P. Pallozzi, noted, “We are so happy we surpassed our goal this year, which means thousands of people got the help they needed. Gloucester County is a wonderful, strong community and we are thrilled to give back to our neighbors in need.”

 

Want to get involved?

HFM Investment Advisors conducts the coat drive every year. Our firm is always looking for partners to become collection locations. We are looking forward to helping thousands more neighbors when our 2017-18 drive begins next October. Contact Kristine Robinson at krobinson@HFMadvisors.com to get involved or for more details.


Top Tax Tips for your 2017 Returns

Tips for 2017

Standard Mileage Rates- Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (& vans, pickups or panel trucks) will be:

  • 53.5 cents per mile for business miles driven, down from 54 cents for 2017
  • 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016
  • 14 cents per mile driven in service of charitable organizations

Read more here: https://www.irs.gov/uac/2017-standard-mileage-rates-for-business-and-medical-and-moving-announced

FAFSA If you have a student entering college in Fall 2017 you can complete the Free Application for Federal Student Aid (FAFSA) right now. This year it is much easier you do not have to wait until after you file your 2016 returns. Check out  https://fafsa.ed.gov/index.htm for more information.

Retirement- If you are saving for retirement there is good news about how much you can save. although most limits remain the same, certain plan type limits have increased for 2017. Check out these charts to see if it applies to your http://www.401khelpcenter.com/2017_401k_plan_limits.html#.WG51M1UrIdV 

Increased Social Security Payroll Taxes- Unfortunately you might pay more in 2017. The maximum amount of wages in 2017 subject to the 6.2% Social Security tax (old age, survivor, and disability insurance) will rise from $118,500 to $127,200, an increase of more than 7%. By comparison, the 2016 wage base was unchanged from 2015.  See more at: http://www.journalofaccountancy.com/news/2016/oct/social-security-wage-base-2017-201615372.html#sthash.na3ADB3M.dpuf

If you are receiving Social Security Retirement Benefits– The SSA also announced that Social Security beneficiaries will get a 0.3% increase in benefits in 2017, after receiving no increase in 2016. – See more at: http://www.journalofaccountancy.com/news/2016/oct/social-security-wage-base-2017-201615372.html#sthash.na3ADB3M.dpuf 

We hope you have found this information helpful. We are not professional tax advisors so please consult with your CPA for your personal situation. If you don’t have a CPA and you need an introduction please let us know, we would be happy to connect you with one.


Important Tax Tips for 2016

US Tax Form 1040

Tips for 2016 Tax Returns

Now that the holidays are over and the new year has begun it’s time to start thinking about Tax Season. We scoured the internet and picked out a few important points that you as an Employee, Retiree or Business Owner should know for filing your return.

Tax Season Filing deadline– Begins Monday, Jan. 23, 2017 and you have an extra weekend as returns or extensions are due by midnight Tuesday, April 18, 2017.

Delayed Refunds – Taxpayers claiming certain tax credits like the Earned Income Tax credit (EITC) or the Additional Child Tax Credit (ACTC) should expect a longer wait for refunds- until mid February. Read more information here https://www.irs.gov/uac/2017-tax-filing-season-begins-jan-23-for-nations-taxpayers-with-tax-returns-due-april-18

Where’s My Refund? Great tool that allows you to check the status of your refund. Check out this video on how it works. https://www.youtube.com/watch?v=-WrZR2qc-3g

1099’s – Your investment account Custodian is responsible for issuing 1099’s. The mail dates vary throughout February and March. HFM clients will receive more information via email about their specific 1099 mail dates as they become available to us.

Tax Scams – Please note that the IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels. Note that the IRS will never

  • Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail you a bill if you owe any taxes.
  • Threaten to immediately bring in local police or other law-enforcement groups to have you arrested for not paying.
  • Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe.
  • Ask for credit or debit card numbers over the phone.

Read about examples of recent scams  https://www.irs.gov/uac/tax-scams-consumer-alerts For more information on phishing scams please see https://www.irs.gov/uac/suspicious-e-mails-and-identity-theft  and https://www.irs.gov/pub/irs-pdf/p5027.pdf

We hope you have found this information helpful. We are not professional tax advisors so please consult with your CPA for your personal situation. If you don’t have a CPA and you need an introduction please let us know, we would be happy to connect you with one.

 


7th Annual Coat Drive

HFM Investment Advisors announces their 7th annual South Jersey Coat Drive. HFM is teaming up with local businesses and charities to collect over 10,000 coats.
video-cover-shot

Learn About Our Ten Thousand Coat Journey

The weather is getting colder and everyone needs a warm coat. But not everyone can afford one. See how our community works together to help neighbors in Gloucester County. Click image to check out our 2016 video to see how you can help too –https://hfmadvisors.wistia.com/medias/xqt7ftj1tb

Special Thanks to Heart of South Jersey, Kennedy Health, the Glassboro Success Center and so many others who are currently participating in our 7th Annual coat drive! #TenThousandCoatJourney #donate#sj #coatdrive #giveback #needvswant

Clean Out Your Closets

We are collecting gently used and new coats for men, women, and children in the Gloucester County area until January 31, 2017. Visit www.HFMadvisors.com/ourcommittment for a list of over 30 drop box locations for one nearest to you!

coat-drive


Starting the FAFSA Process

Starting the FAFSA Process

 

You should consider starting the FAFSA process sooner rather than later if someone in your family going to college in Fall of 2017. As of October 1st you can fill out the FAFSA instead of waiting until January. Even if your darling son/daughter hasn’t picked a school you can list potential schools to get the process started as the U.S. Department of Education expects aid awards to get back to students earlier from Colleges and Universities.  It’s easier this year as families can use a new tool that retrieves your tax information directly from the IRS.  There are also new rules and deadlines for which tax return year parents should use.  Check to see what the new state deadlines are for your area as that may have changed too.

Use this link to submit your FREE application for Federal Student aid https://fafsa.ed.gov/

Check out this article for great tips on starting the FAFSA process sooner rather than later. http://www.clark.com/fafsa-college-aid-application-now-easier