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Category: Wisdom

Corrected 1099’s and Back Door Roth Contributions

As we find ourselves in the midst of tax season, I want to highlight crucial guidance on two areas prone to mistakes on tax returns. These errors can lead to audits, penalties, or overlooked tax advantages. My goal is to help you navigate these complexities, ensuring your 2023 tax return is both accurate and fully optimized. Understanding and addressing these common pitfalls can significantly impact your financial health and tax outcomes. Let’s explore these essential areas to ensure your tax preparation is as accurate and beneficial as possible.

Corrected 1099’s:

  1. Over the years, we have observed that brokerage firms, including Charles Schwab, often issue corrected 1099 forms. These 1099 forms provide you with investment income, dividends, and capital gains amounts that are crucial for accurate tax reporting. During the 2022 tax return season, Schwab issued corrected 1099s as late as March 23, 2023. This trend is not uncommon in the financial industry due to the complexity of reporting requirements and the reconciliation of year-end account statements. Therefore, you should expect that even though your account custodian issues initial 1099 forms in January, you may receive corrected forms throughout the tax filing season.
  2. Why This Matters for Your Tax Return Filing
  • Filing your tax return before receiving corrected 1099s can lead to income discrepancies on your tax return. If you file based on the initial 1099 received and a corrected version is issued later, you may need to file an amended tax return.
  • This is not only cumbersome but might also lead to additional tax preparer fees and potential issues with the IRS.
  1. Our Recommendations:
  • To avoid the need for amended tax returns, we recommend waiting to file your return until approximately March 25th each year. This approach is in line with best practices for financial and tax planning, helping to ensure that your tax return accurately reflects all your investment income and transactions for the year.  Although no one can guarantee that you will not receive corrected forms, the later you wait to file, the greater the possibility that you will not have to file an amended return. 
  1. Your Next Steps:
  • Monitor Your Mail and Email: Keep an eye out for any communications from Schwab or other financial institutions regarding your tax documents.
  • Review Your Documents: Once you receive your 1099s, please review them thoroughly. If you notice any discrepancies or have questions, do not hesitate to contact us.
  • Provide corrected tax documents to your tax preparer as soon as received. This will ensure the corrected 1099s are included in your tax return data.

Back Door Roth Contributions:

  1. Before delving into the workings of Back Door Roth Contributions, it’s crucial to discuss a common scenario I’ve observed in the tax returns of clients who’ve utilized this strategy. The process typically unfolds as follows:
  • The client converts a Non-Deductible IRA contribution into a Roth IRA.
  • They receive a Form 1099-R from their custodian, which indicates in Box 2a that the distribution appears taxable.
  • Unfortunately, this form lacks clear indication that the distribution was a conversion from a non-deductible IRA contribution, which should not be taxable.
  • The client fails to inform their tax preparer that the conversion involved a non-deductible IRA, leading to the assumption that it’s taxable.
  • Consequently, this oversight necessitates filing an amended tax return to rectify the situation.
  1. What is a Back Roth Contribution?
    1. A backdoor Roth IRA contribution is a strategy used by individuals to contribute to a Roth IRA even if their income exceeds the limits set by the Internal Revenue Service (IRS) for direct Roth IRA contributions. Roth IRAs offer the potential of tax-free growth and tax-free withdrawals in retirement, making them highly attractive for retirement planning. However, there are income limits that restrict higher-income earners from contributing directly to a Roth IRA.
    2. Here’s how a backdoor Roth contribution works:
  • a. Make a Nondeductible Contribution to a Traditional IRA: The first step involves contributing to a traditional IRA. Unlike Roth IRAs, traditional IRAs do not have income limits for contributions, but the ability to deduct these contributions on your taxes does have income limits. For the backdoor Roth strategy, the contribution is made with after-tax dollars (nondeductible).
  • Convert the Traditional IRA to a Roth IRA: After making the nondeductible contribution to the traditional IRA, the individual converts the traditional IRA to a Roth IRA. This conversion is not limited by income levels. Taxes may be due on any earnings and pre-tax contributions converted, but since the original contribution was nondeductible (made with after-tax dollars), it should not be taxed again.
  • Tax Implications: The key tax consideration is that if you have any other IRAs with deductible contributions (pre-tax money) and earnings, the IRS requires the use of the pro-rata rule when calculating taxes owed on the conversion. The pro-rata rule considers all IRAs to determine the taxable portion of the conversion, which could result in a higher tax liability than expected if the conversion was thought to be only of after-tax contributions.
  • No Income Limits for Conversions: The IRS does not impose income limits on who can convert a traditional IRA to a Roth IRA, which is why the backdoor Roth IRA strategy is viable for high-income earners.
  • This strategy can be particularly beneficial for high-income earners who are looking for ways to save for retirement in a tax-efficient manner. However, it’s essential to consider one’s overall financial situation, including existing IRA balances and their potential tax implications, before proceeding. Consulting with a financial or tax advisor, especially someone experienced with the nuances of retirement and tax planning, is advisable to navigate the complexities and ensure compliance with IRS rules.

We understand that timely filing of tax returns is important to you. However, ensuring the accuracy of the information reported to the IRS is paramount. Our goal is to assist you in navigating these complexities and to provide guidance that aligns with your financial well-being.

If you would like to further to discuss this article, please email LRobinson@capsouthpartners.com   To learn more about CapSouth and how we can help, please visit our website at https://capsouthwm.com/what-we-do/

Lewis Robinson, CPA

Director of Advanced Planning

 

Investment advisory services are offered through CapSouth Partners, Inc, dba CapSouth Wealth Management, an independent registered Investment Advisory firm. Information provided by sources deemed to be reliable. CapSouth does not guarantee the accuracy or completeness of the information. CapSouth does not offer tax, accounting, or legal advice. Consult your tax or legal advisors for all issues that may have tax or legal consequences. This information has been prepared solely for informational purposes, is general in nature and is not intended as specific advice.

 

Beyond Resolutions: 10 Core Truths for the New Year

In 2019, I grew disillusioned with New Year’s resolutions. I can be somewhat of a perfectionist, and if things didn’t get off to a great start, I found myself floundering.  I tended to have an “all or nothing” mentality.  If it couldn’t be perfect, was it even worth still pursuing? At the time, I didn’t think it was.  I had been setting resolutions for years and then throwing in the towel quickly once the new year started.  This also didn’t sit well with me as I had been taught early on to be tenacious and not give up easily. While I don’t remember all the details of 2019, I remember the frustration. I remember thinking that there had to be a better way to set goals and to dream big.  I needed a different approach.  Thankfully, I was listening to a podcast when they were raving about a product called PowerSheets® Goal Planner from a company called Cultivate What Matters.  I was immediately enthralled as they talked about starting small, making progress, and that small steps matter.  Not only did it seem doable, but it was a refreshing way to think about how to achieve the things that were important to me. Ironically, my first year of PowerSheets® was 2020. You can imagine how that year went! While the year and the goals went off the rails quickly, the 90-day refresh gave me a new opportunity to revisit what was important to me within the year.  Admittedly, I didn’t complete the full year, but I fell in love with the process and have been doing them every year since.

One of the best parts of using the PowerSheets® Goal Planner is that each month has its own recap space for you to jot down various things such as what’s working and what’s not. It also has space for things you are grateful for as well as your favorite memories. Then as you finish the year, you do a full year in a review and reflect on these topics. I love using the week between Christmas and New Year’s to reflect and do all the prep work. I find this week to be weirdly quiet and reflective.  I lose track of the days, and anything feels acceptable.  It’s an oddly productive week even if what I’m doing seems absurd and unnecessary (think organizing spices in alphabetical order).

This year, the week between Christmas and New Year’s took on a whole new vibe. We were coming fresh off a remodel (I’m talking furniture being delivered the Thursday before Christmas fresh here).  It was a level of calm I desperately needed after a wild finish to 2023. I couldn’t wait to grab my 2024 PowerSheets® (not sponsored by them I promise) so that I could dive in to reflecting and cultivating a new year.  Reflecting on 2023 brought some big emotions, and I was grateful for the space to process them.  In many ways it was a wonderful year! We took some great trips with friends, spent time with family, survived a remodel and perhaps some of the coolest news – we’re going to be first time grandparents!  Yet at the same time, the year was incredibly tough.  A dear friend was losing their battle with cancer. I received a new health diagnosis which meant having to prioritize my health like never before. It was a beautiful and messy year which is a perfect reflection of what life really is.

After reflecting and wrapping up my 2023 PowerSheet® Goal Planner work, I was ready to dive in to 2024.  It’s a fresh start. A time to dream big or think small. There is no right or wrong. 2024 will bring some amazing things – a new granddaughter, an amazing family river cruise, milestone birthdays for family and friends, and more.  Despite all these amazing things, I was still carrying this sense of dread, and I didn’t know why. My first moment of delight came as I discovered the new prep pages that the Cultivate What Matters team had created for this year’s PowerSheets®.  They switch it up every year, and this year had some of the classic work I love and some new fun touches.  Each year offers inspiring words and wisdom, and this year was no different. I found myself being drawn to the “Core Truths” highlighted throughout the prep pages.  Little by little, I felt the joy creeping in and the inspiration pouring out.  Each core truth hit home and had me considering 2024 in a new way. They were so inspiring I wanted to share them with you as well. No matter the season you find yourself in this year, these 10 core truths may help you cultivate new dreams or tend to existing ones in new ways.

Core Truth #1: Naming What Matters Changes Everything

Naming what matters helps us gain clarity. Life is demanding. So much is demanding our attention or at least vying for it. We’re bombarded with emails, texts and social media posts every day.  It’s easy to lose sight of what’s most important to us, even when it’s right in front of our face. It’s why we love having clients tell us their goals – their needs, wants and wishes.  It’s what matters to you, and our job is to collaborate on a plan to get you there. What is important to you this year? What do you believe will be important to you in 5 years? 10 years? Sometimes we get so caught up planning for the future that we forget what’s important to us right now.  Finding balance is important. One of the most powerful exercises I’ve done is to think about the end of my life. What would have really mattered? It’s not going to be the time I spend on social media or how much I worried.  It won’t be how much money I made either.  What would really matter to me at the end of my life would be how I treated people, the time I spent with loved ones, the friendships I made and the experiences I had. What will matter to you?

Core Truth #2: Reflection Reaps Rewards

It’s easy to get lost when we only focus on where we want to go. There is a time and a place to leave the past behind, but there is also a time and place to reflect.  Looking back and reflecting helps us to remember what is and isn’t working for us in this season.  It also gives us an opportunity to truly see the progress that was made along the way. What were the good things you experienced in 2023? What do you want more of in 2024? What lessons were learned that we can carry with us? This is your life, and it isn’t pass or fail.  This is the reason we adjust your financial plan on a regular basis.

Core Truth #3: Goals Grow When We Pursue Progress, Not Perfection

Take it from me and leave trying to be perfect behind.  Perfect isn’t realistic.  Perfection seems more fleeting the tighter we hold onto it.  Progress is refreshing and rewarding. Taking an inventory of our goals and how we’re doing gives us a great starting point for how to move forward in the new year.  You can segment your life in a variety of ways and do a life inventory as well.  How is your health? How is your family? What is your work life like these days? How are your daily finances going? If you had to rate yourself in these areas, how would you be doing? Are there areas that need more attention than others? Last year was a great year for me in several areas of my life.  I’m carrying that into 2024, which gives me the capacity to focus on other areas that need more tending such as my health.  

Core Truth #4: Change is Possible

Mindset is everything.  Have you ever thought that a goal or a dream was impossible? Have you been disappointed time and time again, so you gave up? I have. It was easier to give up than to be disappointed again.  Believing again meant a change in my mindset.  I had to be honest with myself about what was holding me back.  Sometimes I was my own worst enemy and holding myself back.  Imposter Syndrome can creep in. We can believe that we aren’t enough. Adopting a growth mindset can remind us of who we really are and inspire us to get going again. Are there things you continue to do because you feel they are expected of you? Is there a change you are dreaming of making this year? Let’s talk about it and make a plan this year to do something different.

Core Truth #5: Little By Little Adds Up

This is my life motto right now! I have a rigorous physical therapy regiment ahead of me this year to get back to doing the things I love. When I think about what’s ahead of me it’s easy to get overwhelmed.  Thankfully, I have an amazing care team that reminds me to take things one day at a time.  I have two choices, go slow and small or not go at all. This is a major departure from the “go big or go home” mantra that I can tend to adopt. When I look back at the end of 2024, I want to be proud of all the baby steps I took towards the bigger goal.  Have you ever felt the same? It’s okay to take some time to celebrate all the little things you are doing – in fact we encourage it! Celebrate the contributions you are making to your retirement plan each pay period. Celebrate your savings account for your big dream growing.  Celebrate the steps you have taken to leaving a legacy. Remember that it was the slow and steady tortoise that won the race, not the fast and impatient hare.

Core Truth #6: Legacies Start with One Small Seed

Everything and everyone started somewhere. Getting started can be the hardest part. Making a list of steps can be incredibly helpful. It can provide clarity on the best place to start. We often talk about legacy at CapSouth, and it’s so much more than a financial legacy. What traditions do you want your family to continue? How do you want to be remembered? It can be multifaceted just like you. For me, one key area that stood out last year is how much I love mentoring and paving the way for the next generation of Advisors at CapSouth.  I absolutely love the thought of a new generation of Advisors continuing the work that was begun over 20 years ago with an entire new generation of clients that includes children and grandchildren of current clients.  I can plant small seeds along the way to this bigger dream. Each small action will add up to a lasting legacy.  What is one small seed you can plant this year for your legacy journey?

Core Truth #7: To Everything There Is a Season

If I’m being honest, it already feels like 2024 has shot me out of a cannon! I was thinking I would have a leisurely start to the year, but that hasn’t been the case.  It would be easy for me to fall back into old patterns where I start trying to do everything at once if I hadn’t been so diligent about planning out my seasons this year.  I must be realistic about what I can accomplish on any given day. I’m not Super Woman even though some days I tried to act like I was! For now, let’s just focus on the first three months of the year. What’s important in this season? Is there one thing you could start, or is there one thing you need to continue this season? Are your goals realistic in this season? Do you have the resources (time, money, support) to achieve them or make progress?  These are the conversations where collaboration can be helpful. You don’t have to make all these decisions on your own, and we would love to be a part of the story.

Core Truth #8: We Can’t Do It All and Do It All Well, But We Can Choose to Cultivate What Matters

Let’s go back to that thought of being Super Woman. It took me a long time to realize I couldn’t try to do everything at once without something suffering.   These days I’ve learned to say no to some things so that I can say yes to the things that I’ve prioritized in this season.  I never thought of myself as a people pleaser but saying no didn’t come easy.  I worried about how the “no” would be received.  Eventually, I had to accept that I just didn’t have the capacity to give everything my best all at once.  It didn’t mean I didn’t want to try. The more transparent I was with those in my life I had to say no to, the freer I felt to continue to say no.  Do you feel pulled in a million directions right now? Is there something you need to say no to so that you can prioritize something more important?  

Core Truth #9: Any Day Can Be a Fresh Start

There is nothing magical about January 1. Please read that again.  As a recovering perfectionist, I now relish that every day I wake up can be a fresh start. We don’t have to wait a full year to start again.  We can choose to start on a random Monday or the first day of the next month.  That’s the beautiful part – you get to choose your fresh start.  It’s easy to keep procrastinating and waiting for the perfect time. I’m not sure the perfect time exists. We don’t have to blow up our day, week, month, or year because of a bad moment.  

Core Truth #10: It’s Okay to Grow Slow

We live in a world full of instant gratification. Amazon can have groceries and many unnecessary but wanted items to my house in just hours now.  I can pay for something with a tap of a card or a click of my iPhone’s side button.  Going slow can feel painful and unfulfilling in this kind of world. It can make us feel that we’re not making progress which can lead to giving up or moving on from a goal we had.  We don’t have to always feel as if we are racing through life.  While you don’t need it from me, I’m giving you full permission to grow slow.  We can chart your progress each year and celebrate along the way.  If you are used to sprinting your way through life, you may even appreciate a change of pace.

By the time I finished my 2024 prep work and incorporating these ten core truths into my year, I had seven goals for the year that I will devote time to little by little each month (Feel free to email me at jfensley@capsouthpartners.com and I will happily share those with you if you are curious). For those of you that love choosing a “Word of the Year”, my word for this year is intentional.  It felt appropriate as each goal I chose will require me to be intentional (almost daily).  We at CapSouth have the amazing privilege of doing life with you because of a choice you made to put your trust in us.  We are all so much more than the money in our Charles Schwab accounts, and it is my sincere hope for all of us that 2024 is a year where we can soak in these 10 core truths to remember to enjoy this beautiful and messy journey we’re on. 

To learn more about CapSouth and how we help, visit our website at https://capsouthwm.com/what-we-do/

CapSouth Partners, Inc, dba CapSouth Wealth Management, is an independent registered Investment Advisory firm. CapSouth does not offer tax, accounting or legal advice. Consult your tax or legal advisors for all issues that may have tax or legal consequences. This information has been prepared solely for informational purposes, is general in nature and is not intended as specific advice. This article contains external links to third party content (content hosted on sites unaffiliated with CapSouth). CapSouth makes no representations whatsoever regarding any third party content/sites that may be accessible directly or indirectly from this article. Linking to these third party sites in no way implies an endorsement or affiliation of any kind between CapSouth and any third party, including legal authorization to use any trademark, trade name, logo, or copyrighted materials belonging to a third party entity.

Sources: www.cultivatewhatmatters.com

Cultivate What Matters 2024 Powersheets® Goal Planner

Creating your Summer Plan: Four Steps to Avoid Stress & Maximize Enjoyment 

While June 21 was the official start to summer, if you are like me, Memorial Day weekend kicks off the unofficial start.  A few years ago, I learned the value of marking things in seasons with opening ceremonies from Kendra Adachi (AKA The Lazy Genius), one of my favorite authors and podcasters.  So now I think of Memorial Day weekend as my summer opening ceremony and Labor Day weekend as my summer closing ceremony.  It helps me be more intentional and present to enjoy the things that are unique to summer. When I think about summer and all that it has to offer, I think about vacations, longer days, food on the grill, homemade ice cream churning, and my favorite – lightning bugs (your family may call them fireflies). The moment I see the first lightning bug light up in the back yard, I’m transported to a childhood spent chasing them, catching them, and occasionally having a few of them escape my bug trap in the house! Summer is a season with plenty of opportunities to make lasting memories.  

Another influence on my summer planning has been a full-time camping couple that produce content for their YouTube channel Keep Your Daydream.  When Kevin and I bought our camper (my tent camping days are behind me now), we devoured their content.  It was as informative and educational as it was inspiring.  Each year they create a Summer to Remember theme and checklist. I always enjoy watching couples and families create their list, amazed by the things that are common among the lists and marveling at the things I never would have thought of for my own list, like “see a bear”.   

My occupation centers around planning.  It just never occurred to me that I should be planning for things like seasons.  However, I often found myself getting to September and being full of disappointment because summer didn’t live up to the expectation I had created in my head.  This year, I’m creating my own summer plan to avoid stress and maximize enjoyment.  

Step One: Make a List 

Grab a piece of paper or the Notes app on your iPhone, and get to work! Don’t overthink this part. Start getting everything out of your head.  What are the things you can only do in summer? Does your family have any special traditions? What’s already hard coded for the summer? This could be a vacation that’s already on the calendar or summer camps for the kids. What foods make you think about summer? Regardless of the phase of life you are in, there are things that make summer special for you. Be bold and list as many as you can! 

Here are a few things from my own summer brainstorm:  

  • Camping trip to the beach 
  • Camping trip to the mountains 
  • Sparklers 
  • Watch lightning bugs late at night 
  • Popsicles 
  • Grilling our favorite food 
  • Watch fireworks 
  • Pickleball  

Finished with your list? On to Step 2 then! 

Step 2: Assess Your Summer Budget 

It’s time to review your budget.  Have you paid for vacations already or are there expenses left to be paid? Are there unique expenses that you only have for summer?  

Here’s a peek at some of the things that I budget during the summer: 

  • Father’s Day in June because I have a husband, dad, and bonus dad I want to celebrate well. 
  • Graduations 
  • Weddings 
  • My birthday in July   
  • Annual camping trip to Roan Mountain, TN.  Reservations start a year and 1 week out. It’s like the Hunger Games getting these reservations! So, while this year’s vacation is paid for, it’s time to think about next year and set a reminder on the calendar. 
  • Increased electricity bills. Air conditioning is working overtime, and as much as I love summer, I don’t enjoy sweating inside. 

I create digital budgets using an app so it’s easy to refer to what happened last year which means fewer surprises this year. Categories like electricity, gas, gifts, and recreation get increased for us over the summer.  

Spending some time planning prevents summer expenses from spiraling out of control and following me into fall on a credit card.  It’s an easy way to lower stress and maximize enjoyment. 

In addition to a monetary budget, I also consider the budgeting of my time.  It’s a finite resource and may not get the attention it deserves.  If I fail to plan my time appropriately, it only increases the stress around things I want to enjoy. 

Enter in the concept of “Front Porch Fridays”. I started labeling this concept last year.  I wanted a way to convey to my friends that it was a relaxed time with no agenda.  Fridays at the end of a summer week seemed like the perfect time to sit and unwind.  It’s a built in and purposeful time to do absolutely nothing.  Some Fridays it morphed into ordering take-out. Some Fridays were moved to the neighborhood pool instead of the porch.   

To truly enjoy summer in the manner I envisioned it, I had to create space to slow down. So, take a few minutes to think about your summer plans.  Do you already feel like it’s slipping away? Mark a few days on the calendar each month that are reserved for your important summer items.  

Finished with your budget? Check out Step 3. 

Step 3: Refine Your List 

Now that you’ve brainstormed and thoughtfully considered your budget, let’s circle back to that list you created in Step 1.  Does anything seem like it is outside the scope of your budget?  If so, it may be something you say “no” to this year but start planning for in future years. 

What are the things that take very little money? Most of the things on my list aren’t costly so I zone in on those first. I like to circle or highlight all the items that fall into this category.  These are the things that will create summer memories if I just carve out the time and prioritize them.   

Once those low budget items are circled and highlighted, what’s left on your list?  These would be the things that you would value enough to shift things around in your budget for right now.  This could be a last-minute vacation or traveling to a wedding. Sporting events and outdoor concerts are other things that we tend to do more as a family in the summer.   

At this point, you should have three types of items from your brainstorm list.  

  • The big-ticket events that you’ll delay for this summer but start planning for in future years. 
  • The inexpensive things that will help you cultivate those fond summer memories. 
  • The important things this summer that you are prioritizing in the budget that won’t break the bank. 

If the first three steps are really this easy to reduce stress and maximize summer enjoyment, then why do many of us feel so frazzled and disappointed when summer is over? 

Here are two main reasons I’ve experienced personally: 

  • I failed to carve out the time at the beginning of summer to plan. 
  • I eagerly made the list but didn’t follow through because (a variety of various reasons that I could easily insert here!) 

Steps 1 – 3 are there to address the first reason.  Step 4 is going address the second reason.  

Step 4: Do All the Things 

When I have those circled or highlighted, the next critical thing for me is to be intentional about doing them! This may seem so silly, but can’t you think of a time where you wanted to do something but never did? It’s probably happened in more areas of my life than I would care to admit.  I see it frequently with clients as well.  We’ll spend time creating a financial plan but then various steps of implementing the plan can stall. 

When it comes time to implement, we let roadblocks get in our way.  There are entire books dedicated to studying change such as Dr. James Prochaska’s Changing for Good. One of the top reasons for not acting is that we weren’t ready for change.  That’s about as simplistic of an explanation for not changing as I think we could get so this would be a great time for us to pause and reflect.  Are we willing to change some of the behaviors that have kept us from doing the things that we thought we wanted to do?   

If this season of life has you tired and stretched thin, but you still want to have a stress-free summer full of enjoyment, go easy on yourself. Revisit Step 3 and limit them to the things that will be the easiest and the most fulfilling.  Could you batch prepare to make it even easier? This could look like going shopping once for all the things you need for summer such as sunscreen, sparklers, popsicles, cards for various occasions and maybe some gift cards for the gifts you need. 

Do you have a little more bandwidth this summer?  If so, you could still implement ideas like batch shopping for summer supplies but then take it a step further.  Look at your calendar and go ahead and put time on it for a few days this summer. If a festival or event is important to you, put it on your calendar now!  For the smaller activities that may not need a specific date, choose a few days where you seem to have the most time and label it “Summer Fun”.  It’s a gentle reminder that it was important enough to you to plan and put it on the calendar.  If you get to that day on the calendar and decide “not today” that will be okay too. You’ve made an active choice to do something else. 

Avoiding stress and maximizing enjoyment this summer can be easily achieved, and I’ll be taking this journey alongside you too.   

To learn more about CapSouth Wealth Management and the services we offer, visit our website at www.capsouthwm.com  

By:  Jennifer Fensley, CFP®, CRPS® | Wealth Advisor 

CapSouth Partners, Inc, dba CapSouth Wealth Management, is an independent registered Investment Advisory firm. Information provided by sources deemed to be reliable. CapSouth does not guarantee the accuracy or completeness of the information. CapSouth does not offer tax, accounting or legal advice. Consult your tax or legal advisors for all issues that may have tax or legal consequences. This information has been prepared solely for informational purposes, is general in nature and is not intended as specific advice.  

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