SMBUSFINRA Reference FR2019-1007-0055/E

The sender and LTM Marketing Specialists LLC are unrelated. This publication was prepared for the publication’s provider by LTM Marketing Specialists LLC, an unrelated third party. Articles are not written or produced by the named representative.

March/April 2020

Telecommuting ExplainedWhile some people may see working from home in their pajamas as the stereotype of telecommuting, it is quite diff erent, often involving employees who work out of a satellite offi ce or on the road. With technology that includes email, video conferencing and smartphones, working remotely can involve signifi cant interaction with customers and other employees.

Still, telecommuting can be a relatively solitary existence, so it is important that you select telecommuters carefully. You should be confi dent that the employees or contract workers selected are capable of working on their own, while agreeing to predetermined work hours and availability. Review this arrangement after the fi rst month and again after three to six months to ensure it remains a viable solution.

Making it Work

Employers will want to make sure they understand state and local rules governing remote employees, especially when

multiple states are involved with diff erent tax and employment rules. If you work with remote freelance or gig workers, understand those rules that diff er by state so that you understand all your obligations thoroughly before entering into any agreements.

To protect your company, secure all its technology according to the latest standards. This means virus and malware software on phones, computers and other equipment, which your company should issue to all employees to help prevent security problems. If you work with remote contractors, require the same protections from them to protect your company.

Your jurisdiction may also require additional fi nancial protection in the form of various types of insurance. If you work with remote contractors, you may require certain types of coverage, including liability insurance. If your employees work remotely, they will need the same mandatory insurance, including

unemployment and worker’s compensation insurance, as in-house employees receive. Talk to your insurance

professional to learn more.

Telecommuting, both for company employees and for the increasing number of fulltime gig workers, is becoming the norm and not the exception. If you own a business, how you deal with the day-to-day implications of this new normal, not to mention its fi nancial aspects, can make a world of diff erence in making telecommuting successful.

Rules for Telecommuting

unemployment and worker’s compensation insurance, as in-house employees receive. Talk to your insurance

professional to learn more. LTMClient Marketing

Partners in your marketing success

Small Business Version

Karen Petrucco Account Manager

LTM Client Marketing45 Prospect AveAlbany, NY 12206

Tel: 800-243-5334Fax: 800-720-0780sales@ltmclientmarketing.comwww.ltmclientmarketing.com

I am committed to helping my clients achieve their financial goals for themselves, their families and their businesses by providing them with strategies for asset accumulation, preservation and transfer.

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Take Precautions

Most fi nancial institutions will send you alerts about various account activities, including withdrawals over a certain amount and unusual credit card charges. Some may off er this automatically, while most will allow you to opt in to alerts.

When dealing with fi nancial accounts online, always make getting to your information as hard as possible for those who would do your fi nancial reputation harm. This means using double verifi cation, including having a code texted to your email or smartphone, and using a password manager to change the password each time you visit.

Don’t forget to check your accounts regularly, monitor your credit rating for suspicious activity (including fraudulent new accounts in your name) and shred any hard copies with identifying fi nancial information that you receive by mail —even new credit card off ers.

Stolen Info?

If your credit information is stolen, report it immediately to the police. This is theft. Also report the theft to the aff ected fi nancial institution and major credit monitoring agencies. You have the right to freeze your account for any reason and it’s free, making this a possible option if you know hackers stole your information. Know, though, that if you seek credit, the credit agencies can’t give your fi nancial information to anyone until you unfreeze your credit information.

7 Last-Minute Tax Breaks If you haven’t fi led your 2019 federal tax return yet, the Internal Revenue Service off ers some reminders that may help reduce your income taxes for the year, but don’t forget to consult a tax advisor about your individual tax picture, too. Here is a sampling of tax breaks that may help you reduce your 2019 tax bill.

MA2020

Protect Yourself in CyberspaceData breaches continue to make news, putting millions of Americans’ fi nancial information at risk. How can you help safeguard your vital fi nancial information if you do business online?

There are few limits to the amount you can

deduct when you itemize on your tax

return, thanks to the Tax Cuts and Jobs Act.

You may deduct amounts over 7.5%

of your adjusted gross income for

medical expenses.

The Health Flexible Spending Account (FSA)

saving limit rose to $2,700.

Limits have risen not only for income tax

brackets and the standard deduction, but also for tax deductions

like the Lifetime Learning Credit.

The maximum credit allowed for adoptions

is the amount of qualifi ed adoption

expenses up to $14,080, up from $13,810 the

previous year.

If you receive alimony payments according to an agreement that was new or suitably modifi ed in 2019, you won’t owe federal income taxes on

the amount.

The Health Savings Account (HSA) contribution limit increased to $7,000 for

family coverage and $3,500 for single coverage. Out-of-pocket limits also

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Money Hacks to Simplify Your Life

Fastest-Growing Occupations

Life is nothing if not busy, so we often can’t find the time we need to take care of financial tasks, whether big or small. Consider these ways to save time.

Another way to make college cost-effective is to explore whether your student is working toward a degree in a growing or shrinking industry. Take a look at the projected growth to 2028 salaries and the 2018 median income, for these jobs:

Modernize

Many financial institutions have smartphone apps that let you do almost everything from getting statements to making deposits. But if you don’t trust the apps yet, consider checking out how today’s ATM machines let you take withdrawals, make deposits and more.

Shopping is also faster online, but even major brick-and-mortar retailers are reducing checkout times with do-it-yourself checkout scanners. Also explore apps that simplify your budgeting, track your expenses and organize multiple investment accounts.

Automate

If you’re like many people, you use direct deposit for your paychecks. Why not ask your employer or financial institution to automatically put a portion of them into savings? You might also automate your 401(k) contributions to increase when you receive a pay raise and rebalance your portfolio periodically. And if you don’t pay your bills online yet, consider this option.

Consolidate

Most insurance companies will give you a discount if you buy multiple policies from them, such as home and auto insurance. If you have multiple credit cards, consider merging them into one low-interest rate card. While on the subjectof credit cards, consider those that offer rebates and cash back (along with low interest rates). If you don’t get your phone and television from one provider, consider it because most will offer a discount for a package plan.

5 Ways toCut College Costs

If you have a child who is a junior in high school, you may have road trips to explore colleges on your schedule in a few months. Before deciding on a school, explore ways you can cut increasingly expensive college costs.

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INFORMATIONSECURITYANALYST$98,350

MEDIAN SALARY$103,620

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$107,030MEDIAN SALARY

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Stay home. Some state colleges and universities offer scholarships to keep top-performing in-state students at home.

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Shorten College. An aggressive schedule combined with credits gained from community college and AP courses can help some students get a bachelor’s degree in three years, reducing expenses by about a quarter.

Take AP Courses. If students take advanced placement (AP) courses in high school and passa standardized AP exam for the subjects taken, they can gain credits most colleges will accept.

Look at Community Colleges. Community college is a cost-effective way to gain the general credits most colleges require. Really ambitious high school students can also get community college credits at night and during the summer while in high school.

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This publication is not intended as legal or tax advice. All individuals, including those involved in the estate planning process, are advised to meet with their tax and legal professionals. The individual sponsoring this newsletter will work with your tax and legal advisors to help select appropriate product solutions. We do not endorse or guarantee the content or services of any website mentioned in this newsletter. We encourage you to review the privacy policy of each website you visit. Limitations, restrictions and other rules and regulations apply to many of the fi nancial and insurance products and concepts presented in this newsletter, and they may diff er according to individual situations. The publisher and individual sponsor do not assume liability for fi nancial decisions based on the newsletter’s contents. Great care has been taken to ensure the accuracy of the newsletter copy at press time; however, markets and tax information can change suddenly. Whole or partial reproduction of Let’s Talk Money® without the written permission of the publisher is forbidden.©2020, LTM Marketing Specialists LLC

We Value Your Input...Your feedback is very important to us. If you have any questions about any of the subjects covered here, or suggestions for future issues, please don’t hesitate to call. You’ll fi nd our number on the front of this newsletter. It’s always a pleasure to hear from you.

SMBUS

Recyclable

Disability overhead expense insurance, sometimes known as business overhead expense (BOE) insurance, is that fi nancial protection for your business. It is particularly suited for a smaller company or practice that depends on a very few people for most of its ability to operate successfully.

What it Does

When a person who is crucial to the success of the business can’t work because of a disability defi ned by the insurance contract, BOE insurance can step in to cover certain everyday expenses when the policy recognizes that person as a potential trigger to benefi ts. These expenses can range from employee salaries and employment taxes to mortgage or rent payments, utility bills and even insurance premiums. The policy will typically have a monthly cap for what it will pay.

BOE insurance may have an elimination period of 30 to 90 days or longer before it begins paying benefi ts. This same feature is in the disability income insurance your employees may have, with longer elimination periods usually resulting in smaller premium payments.

Policies typically have a maximum term during which benefi ts are paid, with the most popular being a year or two, although some are longer. This diff ers from disability income insurance, from which payments can last until age 65 or beyond, depending on the policy terms. Premiums for BOE are generally tax-deductible, but benefi ts are taxable. Remember, though, that the benefi ts typically pay for expenses your business may still deduct.

The Diff erence

While BOE insurance benefi ts protect your business fi nancially by paying many fi xed expenses, it may not pay for the owner’s salary. That’s where disability income insurance comes in, an important benefi t for all your employees, including the owners.

Disability can happen to anyone. According to the Social Security Administration, more than one in four 20-year-olds* will become disabled before reaching retirement age. So, talk to your insurance professional to learn more.

*https://www.ssa.gov/disabilityfacts/facts.html

Disability Protection for Your BusinessYou may be aware that disability income insurance can protect your employees’ ability to earn an income should a long-term disability keep them from work. But do you know there is also a type of insurance that may protect a business fi nancially in the same circumstances?

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FWhen a person who is crucial to the success of the business can’t work because of a disability defi ned by the insurance contract,

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Fwork because of a disability defi ned by the insurance contract, BOE insurance can step in to cover certain everyday expenses

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FBOE insurance can step in to cover certain everyday expenses when the policy recognizes that person as a potential trigger to

PROO

Fwhen the policy recognizes that person as a potential trigger to benefi ts. These expenses can range from employee salaries and

PROO

Fbenefi ts. These expenses can range from employee salaries and employment taxes to mortgage or rent payments, utility bills and

PROO

Femployment taxes to mortgage or rent payments, utility bills and even insurance premiums. The policy will typically have a monthly

PROO

Feven insurance premiums. The policy will typically have a monthly

BOE insurance may have an elimination period of 30 to 90 days or

PROO

FBOE insurance may have an elimination period of 30 to 90 days or longer before it begins paying benefi ts. This same feature is in the

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Flonger before it begins paying benefi ts. This same feature is in the disability income insurance your employees may have, with longer

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Fdisability income insurance your employees may have, with longer elimination periods usually resulting in smaller premium payments.

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Felimination periods usually resulting in smaller premium payments.

Policies typically have a maximum term during which benefi ts are

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FPolicies typically have a maximum term during which benefi ts are paid, with the most popular being a year or two, although some

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Fpaid, with the most popular being a year or two, although some are longer. This diff ers from disability income insurance, from

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Fare longer. This diff ers from disability income insurance, from which payments can last until age 65 or beyond, depending on

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Fwhich payments can last until age 65 or beyond, depending on the policy terms. Premiums for BOE are generally tax-deductible,

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Fthe policy terms. Premiums for BOE are generally tax-deductible, but benefi ts are taxable. Remember, though, that the benefi ts

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Fbut benefi ts are taxable. Remember, though, that the benefi ts typically pay for expenses your business may still deduct.

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Ftypically pay for expenses your business may still deduct.

The Diff erence

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FThe Diff erence

While BOE insurance benefi ts protect your business fi nancially by

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FWhile BOE insurance benefi ts protect your business fi nancially by paying many fi xed expenses, it may not pay for the owner’s salary.

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Fpaying many fi xed expenses, it may not pay for the owner’s salary. That’s where disability income insurance comes in, an important

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FThat’s where disability income insurance comes in, an important benefi t for all your employees, including the owners.

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Fbenefi t for all your employees, including the owners.

Disability can happen to anyone. According to the Social Security

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FDisability can happen to anyone. According to the Social Security Administration, more than one in four 20-year-olds* will become

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FAdministration, more than one in four 20-year-olds* will become disabled before reaching retirement age. So, talk to your insurance

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Fdisabled before reaching retirement age. So, talk to your insurance professional to learn more.

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Fprofessional to learn more.

*https://www.ssa.gov/disabilityfacts/facts.html

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F*https://www.ssa.gov/disabilityfacts/facts.html

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ADVERTISING REGULATION DEPARTMENT REVIEW LETTER

October 11, 2019

Reference: FR2019-1007-0055/E

Org Id: 20999

1. 2020 Lets Talk Money March/April BusinessRule: FIN 2210

The communication submitted appears consistent with applicable standards.

Reviewed by,

Wayne L. LouviereManager

hrm

This year’s Advertising Regulation Conference will be held on October 24-25 in Washington, D.C. For more information and to register, please access the conference webpage at www.finra.org/2019adreg.

Please send any communications related to filing reviews to this Department through the Advertising Regulation Electronic Filing (AREF) system or by facsimile or hard copy mail