TheLiveBigWay® Digest: What’s the Difference?

FSA vs. HSA: What’s the Difference?

Health care costs – premiums, deductibles, and copays – can be unpredictable and add up quickly. As such, it’s important to have an effective health care plan in place. The IRS offers two tremendous strategies that can be taken advantage of: the Flexible Spending Account and the Health Savings Account. What’s the difference? Continue reading to learn more about these tax-advantaged accounts and how to decide which may be right for you.

“We are always thinking about YOU, the Client…”

At Yeske Buie, serving our Clients is the heart of our business. And to best serve our Clients, we believe that we must always put their needs first, understand who and what matters most in their lives, and use the best available science to craft uniquely tailored financial plans. We also seek to work with professionals who share this client-centric philosophy, and for years, have relied on Charles Schwab as a custodian. To highlight their support of advisors like us, Schwab featured an ad starring our very own Yusuf Abugideiri. Have you seen Yusuf on your TV?

Dedicating Our Time and Talent

Throughout the biographies on our website, you will find numerous mentions of involvement with the Financial Planning Association® (FPA). Yeske Buie has been a long-time supporter of FPA, dedicating our time and talent to support their goal of advancing the profession. Our most recent example of this dedication is Lauren Stansell’s three-year commitment to the FPA of San Francisco as president-elect, president, and chairman. We can’t wait to see your impact on the chapter, Lauren! Read on for more about Yeske Buie and FPA.

Estate Planning for Team Fluff

The Lombardi Trophy wasn’t the only award handed out last Sunday night. Team Fluff and Team Ruff – a group of pups looking for their forever homes – also took to the field on Sunday for the 16th Annual Puppy Bowl. In honor of Team Fluff’s win of the “Lombarky” Trophy, we share a piece with tips on estate planning for animal lovers. And just for fun, be sure to scroll to the end of the post for photos of the Yeske Buie team’s beloved pets!

2020 Tax-Filing Season

Earlier this week, we sent a message to all Clients sharing expectations about timing and delivery of 1099 tax forms from Schwab. Here’s a summary of the information in case you missed it:

• If you took any distributions from your IRA(s) in 2019, you will receive a 1099-R form. This form is currently available on the Schwab Alliance website. Instructions for accessing the form on Schwab Alliance can be found here.
• By mid-February, Schwab will post a 1099 form for your taxable account(s) to the Schwab Alliance website. If you elected to receive paper copies of your 1099, Schwab will begin mailing those mailing those between February 1^st – 14^th.
• There may be corrections to the original 1099 forms, and those corrected forms will be posted to your Schwab Alliance account beginning in late February. Again, Schwab will email you if/when those forms are available.

As a reminder, you will only receive a 1099 if you have taxable accounts open with Yeske Buie in 2019 (i.e. individual, joint, or trust accounts), or a 1099R if you took distributions from your retirement accounts. If you have any questions about this process or otherwise, please don’t hesitate to contact us.