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Mitlin Financial Inc. - An SEC Registered Investment Advisor - wealth manager

Mitlin Financial Goes Mobile

Mitlin Financial, Inc. is pleased to announce the unveiling of Mitlin’s new Client Web Portal.  The portal is available to all clients of Mitlin Financial and is available through our website or our newly launched app on both the Apple and Android stores.  

I would suggest you contact us at (844) 4-MITLIN x13 if your advisor does not offer you a mobile option to view your assets.  We can certainly change that for you by becoming a client.

We recommend you download the Mitlin Financial App via the Apple and Android stores, simply click on "Apple iOS" or "Android", whichever is appropriate for you to get started:

                                              Apple iOS™:                                              

Apple icon50

Android™:

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We will be conducting a live demo of the new Portal and mobile app with all clients during your next scheduled meeting. Should you have any questions or concerns before that time, do not hesitate to give us a call at (844) 4-MITLIN x13 so that we can assist you accordingly.

 

Mitlin Financial Nominated for Long Island Business News Reader Rankings as "Best Wealth Advisers"

 Mitlin Financial, Inc. is please to annouce that it has been nominated for the Long Island Business News Reader Rankings as "Best Wealth Advisers" for their 2019 Reader Ranking Awards.  We would really appreciate your vote and hope you can take the few seconds out of your day.

We do not take nominations like this lightly and really appreciate your support.  You can vote simply by clicking this link: https://mitlin.us/VoteMitlinLIBN or by clicking the photo below.  You can also have the opportunity to win $250 from Long Island Business News. 

 

LIBN Reader Rankings

 

 

This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.  Mitlin Financial, Inc. did not pay a fee to be considered for this award, nor will it win any form of compensation if they win.

Mitlin Minute: Building Your Financial Team

In this edition of Mitlin Minute we talk about the importance of building your financial team.  It takes a strong team of professionals to help you and your family to save, grow and protect your financial assets.  This edition will talk about a few of the key people that should be part of your team.
 
Feel free to share this with others that you think will find value in our Mitlin Minute.
 
Feel free to contact us by emailing us or calling us at (844) 4-MITLIN to discuss how we can help you by quarterbacking your team.
 
 

 
 
 
  Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute: We Need Your Help!

 Mitlin Financial, Inc. is please to announce that it has been nominated for the Long Island Business News Reader Rankings as "Best Wealth Advisers" for their 2019 Reader Ranking Awards.  We would really appreciate your vote and hope you can take the few seconds out of your day.

We do not take nominations like this lightly and really appreciate your support.  You can vote simply by clicking this link: https://mitlin.us/VoteMitlinLIBN 

You can also have the opportunity to win $250 from Long Island Business News. 

 

This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.  Mitlin Financial, Inc. did not pay a fee to be considered for this award, nor will it win any form of compensation if they win.

Planning as a Process with Larry Sprung on the Money Savage Podcast

I recently had the opportunity to be a guest on the Money Savage Podcast with George Grombacher.  This podcast gave me the opportunity to discuss how planning is a process and not a one time event.  I hope you find this episode interesting and of value. 

In today's conversation, George and I discuss the following:

1) One of the driving factors that led me to enter the field of Wealth Management

2) How financial education plays a role in your life

3) The importance of planning for your family and buisness

4) My one difference making tip

Money Savage Podcast Larry Sprung

 

 This podacst represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

 

 

The Beyond 6 Seconds Podcast: Larry Sprung – Founder of Mitlin Financial and advocate for suicide prevention

I recently had the opportunity to be a guest on the Beyond 6 Seconds Podcast hosted by Carolyn Kiell.  We had a fantastic conversation about how I entered the financial services business and why I am such an advocate for suicide prevention. 

On this episode, Larry discusses the critical events in his life that shaped his career and advocacy:  

  • How his mother’s long battle with breast cancer led him to a career helping people plan for critical financial events in their lives, and
  • How the loss of his brother-in-law to suicide led Larry to become involved with AFSP and, along with his wife Denise, raise more than $1,000,000 for the organization through the Keith Milano Memorial Fund. The fund was created at AFSP in memory of Larry and Denise’s brother-in-law and brother, respectively.

Larry also talks about some of the important work that AFSP is doing to help people “Seize the Awkward” by having potentially life-saving conversations with the people in their lives who may be suicidal, and AFSP’s Project 2025, which aims to lower the suicide rate by 20% by the year 2025.

You can also find more information about AFSP’s work at www.afsp.org and the Seize the Awkward campaign at www.seizetheawkward.org .

 

Beyond 6 Seconds Podcast Lawrence Sprung

Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.  Past performance is not indicitive of future results.

What you should know about Investment Accounts, Capital Gains, Income

 What you should know about Investment Accounts Capital Gains and Income

Investing is a complicated topic that many do not fully understand and they rely on their advisors to assist them through the process of investing and becoming retirement ready. Taxes are an area that cause significant confusion and the fact that they have a tendency to change over time adds to the confusion.

Taxes on investment accounts can come in several forms and we will discuss some of the most common types along with strategies to help you over time. We touched on this topic in a recent article,Tax Planning Is A Year Round Concern, and we will expand on it here.

Income from investments can come in several forms, such as dividends and interest. The best type of income, especially for high net worth clients, is tax free income. This income will not be taxed, assuming it is tax free on both the Federal and State level. There are investments that will pay tax free income that will only be federally tax free and it is important to be aware of this, especially if you live in a State that has a high income tax bracket. The majority of interest and dividends will be taxed as ordinary income, unless they are a qualified dividend. This will typically be your highest taxed form of income generated from your investments. In these cases, unless you are in need of this income to live on or are in low tax bracket, it would make the most sense to try and place these types of assets in a qualified account. This would allow you to own the asset and not pay taxes on the income.

Capital gains are another consideration when it comes to taxes on investments. These types of gains are broken down into short term, less than twelve months, and long term, longer that twelve months. Depending on your income, the taxes owed could vary widely. The higher the tax bracket you are in, the larger the difference. Short term capital gains are taxed as ordinary income and will be taxed at your normal tax bracket. However, if you hold the asset for twelve months and a day the capital gain becomes long term providing a maximum tax of twenty percent (depending on your income tax bracket) on the Federal return, plus the State tax owed. This could amount to a significant difference in tax and you will want to make sure you are holding assets, if you can, for the long term in order to maximize your tax position. In the instance that you are looking to purchase an investment with the intention of only holding it on a short term basis, we would recommend placing this asset in a Qualified account and avoid the capital gain altogether.

We know that clients do not like to take losses, but sometimes it makes sense for you to bite the bullet. We recommend that you, along with your advisor, review your portfolio each November to evaluate gains and losses for the year. Long term and short term gains and losses will net out each year and you can develop a picture of what your capital gains will be for the year. Based upon the review, it may make a lot of sense to sell an asset at a loss and negate some of your overall capital gain. At times, we have seen clients that understand they need to do this in order to mitigate their tax liability, but at the same time are still confident the asset will work out long term. In these cases, you can double up the position thirty plus days before the end of the year and on day thirty one, in order to avoid a wash sale, sell the initial lot for the loss. This will provide you with the opportunity to capture the loss and still own the position, while participating in the upside potential of the holding.

Planning like this is an important aspect of working with the right advisory team. This type of review should take place with you, your wealth advisor and your CPA annually to make sure things are being done in your best interest. It is key to have your CPA and wealth management firm on the same page with a good working relationship. This is why we always look to build relationships with our clients’ tax advisors. Please feel free to contact us, Mitlin Financial, at (844) 4-MITLIN x12 if you or someone you know has encountered tax issues with regards to their investments, has questions about how taxes like these will affect them or simply does not feel their CPA and advisor are on the same page. We look forward to helping you, and them, make the decision that is best for all. 

This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.