Next Step Wealth Management

02/26/2026

The latest January jobs report offered a mixed snapshot of the labor market, highlighting areas of resilience alongside signs of cooling.

Among the key developments:
▪️Job growth continued, though at a slower pace than in previous months.
▪️The unemployment rate shifted, reflecting changes in workforce participation.
▪️Wage gains showed moderation compared to recent peaks.
▪️Revisions to prior months adjusted the broader hiring picture.
▪️Certain sectors showed stronger momentum than others.

Employment data can influence consumer sentiment, policy discussions, and expectations around interest rates. Staying aware of these shifts may help provide useful context in conversations about the broader economy.


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The January nonfarm payrolls report beat Wall Street expectations in both job creation and the unemployment rate.

02/23/2026

Waiting on a Schedule K-1? You’re not alone.

K-1 forms report income from partnerships, S-corps, and certain investments. They’re typically due in mid-March, but they can’t be issued until the entity completes its own tax return. With increasingly complex tax rules and investment structures, delays are common which is why many investors end up having to file extensions.

A few simple steps may help:

• Ask the entity about expected timing
• Opt for electronic delivery if available
• Confirm your contact information is current
• Forward your K-1 to your CPA as soon as you receive it

And remember, filing an extension isn’t a red flag. It’s often just part of the process when K-1s are involved.

02/20/2026

02/17/2026

Lasting change is usually the result of small, steady habits repeated over time. A daily walk, a few smarter food choices, or a better sleep routine may not feel life changing in the moment, but gradually they can help to reshape your health.

Your financial life works much the same way. Increasing your retirement contribution just 1%, setting up an automatic monthly investment, or directing part of each raise toward long term savings may seem modest at first, but can compound into real progress.

This American Heart Month, remember that strength, whether physical or financial, is built through discipline and consistency and has the power to create lasting results.

02/14/2026

Last month, as the 2026 tax season began, the IRS announced leadership changes and internal updates aimed at improving service and modernizing the agency.

These shifts matter. IRS operations influence more than just when you file — they can affect processing times, customer service availability, and how issues like identity verification or return errors are handled during peak season.

It’s a reminder that filing season isn’t shaped by tax rules alone. Staffing, technology, and agency priorities all play a role in how smoothly returns move through the system and how quickly taxpayers get assistance.

For many households, staying aware of these changes can help set expectations for the months ahead.

The head of the IRS is announcing a shake-up he says will improve taxpayer service and modernize the agency.

02/05/2026

The 2026 Winter Olympics in Milan and Cortina officially begin tomorrow, February 6th!
Live coverage of the Opening Ceremony begins at 2 p.m. ET. Will you be watching?

See every event of the 2026 Milan Cortina Olympic Games and check event schedules

02/03/2026

At its first meeting of 2026, the Federal Reserve held its benchmark interest rate steady, signaling increased confidence in economic growth while still acknowledging that inflation remains somewhat elevated.

In its statement, the Fed pointed to steady expansion, slower but stabilizing job gains, and signs that labor market conditions are leveling out. Policymakers also suggested they are weighing inflation and employment risks more evenly than in recent months.

While rates remain unchanged for now, future decisions will continue to depend on incoming economic data and evolving conditions.


Source:

The Federal Reserve on Wednesday released its decision on interest rates.

02/02/2026

Last weekend, our crew traded the office for the Home & Landscape Show in Sacramento, helping out at the RRUFF Healing Heroes Program booth. A nice way to spend the day, connecting with others and supporting a great organization.

01/31/2026

Owning a home can affect how you approach tax season.

If you are a homeowner, you may want to take a closer look at whether itemizing deductions makes sense or if the standard deduction is the better fit. Depending on your situation, some costs associated with owning a home—such as mortgage interest or certain property-related expenses—may still factor into your tax picture under today’s rules.

Since no two tax situations are exactly alike, it can be helpful to review what applies to you before you file.

For specific tax guidance, it’s best to connect directly with a qualified tax professional.


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It will mostly be business as usual for homeowners this tax season. However, new changes introduced under the "big, beautiful bill" may affect how they file.

01/29/2026

Medicare Advantage Open Enrollment is underway through March 31.

If you’re currently enrolled in a Medicare Advantage plan, you still have time to make a one-time change—either switch plans or return to Original Medicare (with the option to add Part D).
Learn more at Medicare.gov.

01/27/2026

There's just one week left if you'd like to join Jenny of Vision Tax in helping to make Valentine's Day a little brighter for our seniors! ❤️ Cards have already been coming in—thank you!—but we'd gladly welcome more!

Helping Hands OV's 'Valentines for Seniors' program is an easy way to share some kindness with a senior who may not have family nearby to share the love. If you'd like to participate, simply create a few homemade Valentine’s cards and drop them by our office now through February 4, 2026. No envelopes are needed.

Please join us in spreading kindness to local seniors in care homes and assisted living communities, and making this Valentine’s Day a little sweeter.

01/22/2026

As we move into 2026, economists are keeping an eye on several factors that could shape the year ahead. Growth held up better than many expected in 2025, but for a lot of households, higher costs are still very real.

Key questions remain: Will inflation continue to ease? How might the Federal Reserve respond if the job market shows signs of change? And will housing affordability gradually improve over time? There’s also growing attention on how artificial intelligence may influence productivity and employment, along with whether stock market gains can expand beyond a relatively small group of leading companies.

Overall, the outlook suggests a year that will be shaped less by dramatic shifts and more by gradual adjustments, as both businesses and consumers adapt to evolving economic conditions.


Source:

From stubbornly high living costs to a softer labor market, economists say these are the forces that will shape the year ahead.