We provide independent wealth management, person al financial planning and tax services to he lp individuals and families succeed. Independent Weal th Management, Personal Financial Planning & Tax
A rt Locke, CPA/PFS, CFP is the found er of Locke Advisory Services LLC, a register ed investment advisor in Virginia (www.lockeadvisoryservices.com).
Operating as usual
Can't thank my clients enough f or making 2021 one of our be st years so far with a 41% increase in clients and 44% increa se in assets under management! Look forwa rd to working together in 2022 as we mana ge through the challenges of omicron, inflati on, interest rates and market reactions in t he coming year! Happy New Year!
Had the opportunity to do an episo de on Off the Dome Radio wi th hosts Tim Ahlersmeyer and Colin Slag er. Great guys who do episodes on a ll kinds of businesses with many differe nt entrepreneurs, in fact, 175 episodes in tot al! Hope you enjoy the show a nd while you’re there, be sure to che ck out some of their other episod es! Shout out to Brandon Locke w ho connected me with his friend, fell ow golfer and fellow Butler U. al um, Tim Ahlersmeyer in Indy.
In this interview, Art describes the proce ss of leaving corporate life to sta rt his own business. He also provid es meaningful financial advice for professionals of a ll ages. To learn more about A rt, you can visit his website at lockeadvisoryservices.com
Sh ow Highlights:
4:45-12:45: Art goes into h is background, his motivation to leave t he corporate world, and the process of getti ng his business formed.
12:45-19:25: Art highlights t he key lessons learned from serving as an executi ve for five public companies, what it 's like running a business as a so le proprietor, and the types of clien ts he serves.
19:25-26:45: Art provides financial advi ce for young professionals fresh out of college.
26:45-38: 00: We ask Art's opinion on cryptocurren cy and the future outlook of t he U.S. dollar.
38:00-47:15: Art talks about t he impact of the internet on financi al education and what he does to ke ep himself knowledgeable about current financial trends.
47:15-56: 45: Art discusses money's impact on relationshi ps and how to pick a quali ty financial advisor.
56:45-1:04:45: Art reflects on li fe lessons from golf, and he shar es his thoughts on how he wan ts to be remembered.
I love to discover people wi th special talents at whatever they lo ve to do. Hope you find yo ur "special" in 2022! Happy New Year!
Here 's to Chelsea Constable, a new tale nt discovery. Classic covers of Cream a nd Billy Gibbons:
White Room - CREAM - "J am Series" with special guest Greg Ko ch Hello! Hope you all enjoy th is new series. A very special than ks to Mr. Greg Koch for jammi ng on this one!
You may have heard of propos ed capital gains tax rate increases in t he news recently and may be wonderi ng how capital gains are determined, categoriz ed and taxed in the first pla ce. In this article we dive in to what capital gains are, and mo re specifically how the capital gains t ax works for both stocks and mutu al funds. Thoughtful tax planning and sou nd investment management are the keys to minimizi ng the affects that the capital gai ns tax will have on you.
Although the importance of saving f or retirement is apparent to most America ns, oftentimes they don’t know how mu ch they need to save. There a re many different factors that determine h ow much each person needs depending on the ir unique situation, and it can be ha rd to decipher which factors pertain to y ou. To help, here are the mo st important factors to consider when determini ng how much you need for retireme nt. After determining how much you personal ly need, sound investment management, smart ass et allocation and thoughtful tax planning a re critical components to saving for retirement.
How Much Do I Need to Sa ve? Many realize it’s important to sa ve for retirement, but knowing exactly h ow much to save is another iss ue altogether.
Hope you enjoy this installment of o ur monthly market update!
Antitrust Crackdown Aims to Increa se Competition
HOT TOPIC: Antitrust Crackdown Aims to Increa se Competition See how an executive order to cu rb excessive consolidation of industry might affe ct consumers, small businesses, investors, and t he economy.
GameStop Rise & Fall: Extreme volatili ty with little fundamental change in i ts underlying business.
GameStop, Reddit, and Market Mania: Wh at You Need to Know Here's what you need to kn ow about recent market volatility triggered by
Hope you enjoy this month's mark et summary!
Market Month: January 2021 Stocks were mixed in January followi ng the month's tumultuous events.
Hey folks - With 21 milli on confirmed cases of COVID in t he US, we have a huge numb er of people who have recovered fr om COVID walking around with convalescent plas ma that could be vital to peop le fighting for their lives against COV ID. If you have had COVID or kn ow anyone who has had COVID, plea se donate plasma. My friend, former colleag ue and client, Fred Avila, has be en fighting for his life for t he last few days. Doctors struggled to fi nd convalescent plasma. Fred is at Ho ag hospital in Newport Beach, CA. If y ou are in Newport Beach and f it the bill, please donate. Where ev er you are and if you ha ve recovered from COVID, you could gi ve someone the gift of life. Plea se help today.
Breaking News: Cyber security firm, FireE ye (ticker FEYE), today announced that it h ad been hacked, possibly by a governme nt, leading to the theft of an arsen al of internal hacking tools typically reserv ed to privately test cyber defenses of the ir own clients. The hack of FireE ye, a firm with business contracts acro ss the national security space in t he US and globally, is among t he most significant breaches in recent memo ry. FireEye was down nearly 7% in aft er market trading.
This reminds us once aga in of the importance to be vigila nt about our own cyber security. Bewa re!
According to a report by S3 Partne rs, short sellers of Tesla have lo st more money this year than t he US airline industry. $35 billion vs. $24.2 billion. No wonder Elon is smiling.
Elon Musk will love this: Tes la short sellers lost more than t he US airline industry this year The incredible year for Tesla sto ck has created a bloodbath for tho se shorting its shares.
Is it time to work wi th a financial professional?
6 Reasons to Work with a Financi al Professional Here are six reasons to wo rk with a financial professional no matt er what life stage you’re in.
For those looking to put ki ds through college in the next f ew years, it's great to see t he inflationary cost of college cooling do wn a bit.
New College Cost Data for 2020-20 21 School Year Find out how much college cos ts increased for the 2020-2021 school ye ar.
Top Mistakes Millionaire Investors Regret Making
T he deVere Group, a Zurich-based financial adviso ry firm, queried millionaires on the bigge st investing errors they made before th ey became clients. The survey included 752 investo rs with investable assets of more th an $1 million in the United Kingd om, Europe, Asia, Africa, the Middle Ea st, Australasia, Latin America and North Ameri ca.
More than a third (3 5%) of investors cited not having soug ht advice, 38% said they leaned t oo heavily on historical returns and 21% cited a lack of diversification. T he survey said a collection of oth er mistakes and ‘do not knows’ ma de up the remaining 6%.
CEO and Found er Nigel Green said "It is encouragi ng that seeking advice is deemed fundament al to success by millionaires, as it sho ws that DIY investing and not havi ng a regularly reviewed plan is, typical ly, a path full of costly pitfalls".
The Top Mistakes Millionaire Investors Regr et Making A survey found that wealthy investo rs lament relying on guidance from historic al returns.
Hope you enjoy this quarter's mark et review! There will be plenty of politic al noise from both sides between n ow and the elections which will probab ly cause the markets to be volati le. The market has historically performed we ll during both Republican and Democrat presidenci es. Try not to get caught up in short-te rm volatility and be sure to ha ve an investment strategy based on sho rt & long-term time horizons suitable f or your life goals, career and retireme nt plans.
Quarterly Market Review: July-September 2020 See what the markets did in Q3 2020 in o ur latest market video.
While the economy continues to he al, the stock market is riding to a ll time highs. Caution ahead. Enjoy t he August Market Month!
Market Month: August 2020 Stock market indexes reach record hig hs in August on hopes of a vir us vaccine.
Women Outpace Men in Degrees Earn ed (Sep) Women attained more educational degrees th an men at every level during t he 2019-2020 academic year.
Scammers are more clever and entici ng than ever. It's important to be vigila nt anytime but now more than ev er. Be alert, don't be fooled!
IRS List of Tax Scams to Wat ch Out For Protect yourself from scammers at t ax time by following these IRS ti ps.
Please enjoy the July Market Mon th! Please don't hesitate to reach o ut if I can assist.
Market Month: July 2020 Stocks posted July gains despite gloo my economic news.
Enjoy the May market month. Plea se let me know if I c an assist!
Market Month: May 2020 Investors, buoyed by the gradual openi ng of the economy, turned to stoc ks, driving values higher in May.
The use of electronic currency h as been rising rapidly over the la st few years (Venmo, PayPal, Zelle, etc .). COVID-19 could be the final dea th knell of physical currency. Does anyo ne really want to exchange bills, coi ns and checks anymore in the COVID- 19 era and aftermath? Could governments arou nd the world save billions by downsizi ng currency printing and stamping?
Please enjoy the Market Month f or April!
Market Month: April 2020 Stocks rebounded despite somber economic ne ws.
The CARES Act provides substantial resourc es for individuals and small businesses. He re are a few small business resourc es to check out:
US Chamber Small Busine ss Guide
Paycheck Protection Program Loan Application
US Departme nt of Treasury Coronavirus Assistance
An Emergency Fund is a gre at asset to have during these unprecedent ed times. If you don't have o ne as part of your financial planni ng, consider building one as soon as we recov er from this crisis. It's not a matt er of if you'll need it, i ts a matter of when, how mu ch and the right type of ass et.
For the many fortunate folks o ut there who will continue to wo rk through this crisis or who a re fine financially, please spend any mon ey received from the government at a loc al small business! Our local business communi ty and employees need our help n ow so they will be there wi th us when all this passes in t he next few weeks/months.
The Coronavirus pandemic continues to cau se historic uncertainty in nearly every aspe ct of our lives. Today, the Americ an Red Cross announced a blood shorta ge as the Coronavirus crisis has l ed to massive blood donation cancellations. Plea se consider going online or calling t he American Red Cross to make arrangemen ts as soon as you feel comfortab le venturing out. In the meantime, plea se stay healthy!
During market downturns, many believe th at "everyone" is "selling". In fact, f or every transaction, many forget there is a buy er AND a seller, otherwise, a transacti on would not occur. So ev en during these "sell-offs", there are an ev en number of buyers and sellers. So wh at is actually happening? When one invest or sells when the market is do wn 25% and another investor buys wh en the market is down 25%, i ts the difference between selling low a nd buying low. This may sound simp le and obvious, but many seem to thi nk there are only "sellers" during a "sell-of f". History shows and may likely contin ue to show, that those who a re buying or holding during market downtur ns instead of selling, may very we ll be the winners over the lo ng term. It's a good idea to sti ck to a sound, long-term investment strate gy during market downturns. Let's hope ca lm and rationality prevail.
So far, our clients are receivi ng refunds in about 7-10 days f or federal and 2-3 weeks for Virgin ia.
Due Date Approaches for 2019 Feder al Income Tax Returns
Tax filing season is he re again. If you haven't done so alrea dy, you'll want to start pulling thin gs together — that includes getting yo ur hands on a copy of yo ur 2018 tax return and gathering W- 2s, 1099s, and deduction records. You'll ne ed these records whether you're preparing yo ur own return or paying someone el se to prepare your tax return f or you.
The filing deadline for individua ls is generally Wednesday, April 15, 2020.
Independent Wealth Management, Personal Financial Planni ng & Tax
Locke Advisory Services provides independe nt wealth management, personal financial planning a nd tax services. As an independent advis or, the firm is dedicated to helpi ng individuals and families make sound financi al decisions, plan for their future a nd implement appropriate investment strategies. We ser ve our clients by providing thoughtful a nd diligent management of wealth, financial planni ng, individual tax and business services. O ur first priority is to listen a nd learn about your dreams and goa ls, and where you want your life ’s journey to go. Our ultimate go al is to help you succeed.
The co re value of our Firm is o ur commitment to work in the be st interests of the clients we ser ve. Trust, Independence, Integrity, Competence, Experien ce. We are dedicated to buildi ng trusted, objective and long-term relationships wi th our clients. We do th is by providing independent, personalized, knowledgeable, a nd comprehensive advice with the highest degr ee of integrity and customer service. As an independe nt, fee-only advisor, the Firm does n ot receive commissions, bonuses or fees relat ed to the purchase or sale of securiti es, insurance or other products recommended to a nd purchased by our clients. If y ou, your family, friends, clients or colleagu es are looking for investment management, person al financial planning or individual tax, plea se contact us at [email protected] and vis it www.lockeadvisoryservices.com for additional information. Be su re to follow us for interesting articl es, information, commentary and updates.
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We specialize in Individuals, families and small business, extensions, amendments, and ITIN applications, notary public (se habla español)
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VG CPA PC, is a professional Certified Public Accountant firms incorporated in Virginia. Our firm provides personalized assistant for all your tax needs.
Provider of tax services for businesses and individuals. Specialist in IRS problem resolution included notices, audits and other issues.