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Suite 203
South Portland, ME 04106
(207) 761-4733

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Thursday, January 21, 2021

7 Retirement Mistakesto Avoid in 2021 Planning ahead and keeping a close eye on your finances are two of the most important ways you can ensure you get to enjoy your retirement and get the most out of your golden years. As we begin...

Tuesday, January 12, 2021

After a bit of political posturing in December, the $900 billion Consolidated Appropriations Act of 2021 (2021 CAA) was signed into law by President Trump as the COVID-19 pandemic continues to impact employers and employees...

Friday, November 20, 2020

Although 2020 has been a year of unexpected changes, one routine remains consistent: the fourth quarter means it’s time to review where you stand year to date and plan for the new year. With new tax and retirement considerations...

Wednesday, November 4, 2020

Election Day is finally behind us, and we sincerely hope you voted. Voter turnout for a U.S. Presidential election was the highest in modern history as a percentage of eligible voters, surpassing 2008 and 2016. Since the turnout was...

Friday, October 23, 2020

Determining if you’re on track to retire can be more manageable if you break it into smaller steps. Using a checklist can help you understand the key variables that will make your retirement plan succeed or fail. It can help you...

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Wednesday, October 21, 2020

If you are a small business owner or an HR professional, managing your employer retirement plan is probably not among your favorite things to do. You are a busy person – running a successful business, or handling day-to-day...

Monday, September 28, 2020

Fall Brings Cooler Perspectives Fall is officially upon us, and with it hopefully some sense of normalcy in a year that has been anything but. Contact your Financial Advisor to make sure your risk tolerance aligns with your financial goals.

Wednesday, September 23, 2020

With so much talent in the workforce applying for jobs these days, it is becoming increasingly important for a business to offer competitive benefits. And as a business, you are only as good as the people who work for you. Beyond the...

Thursday, September 10, 2020

6 Financial Planning Tips for Young Families For most new parents or families with young children, focusing on the big picture isn’t easy. You are sleep-deprived, juggling naps and feeding schedules, bringing your kids to...

Monday, August 10, 2020

Part of our job at IIS Financial Services is to advise clients on the best path to retirement. We also believe offering strategies to help reduce taxes during retirement is equally as valuable, as taxes can take a bite out of your...

Tuesday, June 30, 2020

The Longest expansion , followed by the shortest recession? We are now halfway through 2020, which is shaping up to be a very unpredictable and challenging year. The U.S. has entered a recession aseconomic activity has severely...

Monday, June 15, 2020

Adding a Safe-Harbor 401(k) plan provides a minimum level of contributions to all employees, freeing owners and highly compensated employees to receive larger profit-sharing payments. A successful business owner knows that finding and...

Sunday, June 7, 2020

The CARES Act says you don’t have to take a Required Minimum Distribution (an RMD) from your IRA, 401(k), 403(b), or other retirement account this year. You don’t have to, but should you? The answers to two simple questions...

Thursday, April 23, 2020

Since early Mach, we have been keeping you updated on the Coronavirus/COVID-19 outbreak, with corresponding market volatility, portfolio management/market perspective and this is our response from a financial planning perspective. In...

Friday, April 3, 2020

As life continues in this time of uncertainty, while updates regarding the COVID-19 pandemic make headway, Small Business Owners should take notice of the following action items they could implement to protect their employees, and gain the

Tuesday, March 31, 2020

Over the last few weeks, the Treasury Department, the Internal Revenue Service (IRS), Congress and State of Maine all came forward with new plans in response to the Coronavirus (COVID-19) outbreak and its major impact on our economy...

Friday, February 21, 2020

Some CPAs may be too busy to do comprehensive tax projections as part of the tax-preparation appointment, but that should not preclude you from asking the following questions: 1. Will a life event or major purchase affect my taxes?...

Tuesday, February 18, 2020

If you're a small business owner or sole proprietor, you may be one who manages it all: sales, marketing, customer service, billing, and quality control. Planning for retirement can get lost in the shuffle. Opening a SEP IRA is a...

Wednesday, January 8, 2020

Over the last week, a lot of clients have been asking about the new RMD/Retirement rules starting in 2020 and what it means for them. The Setting Every Community Up for Retirement Enhancement Act (SECURE Act or the Act) was signed...

Friday, December 6, 2019

At year end, it’s beneficial to review financial objectives in determining whether any last-minute action is warranted to help ensure you remain on track with your financial goals. Below are some of the more common items to...

Tuesday, November 19, 2019

Required Minimum Distributions:Get to Know the Basic Rules What are required minimum distributions (RMDs)? When you turn 70½, the IRS requires you to start making annual withdrawals from your retirement account. This rule is...

Tuesday, November 12, 2019

Once you retire, it's helpful to keep several tax opportunities and tax consequences in mind. Retirement may mean that you’ve stopped working, but it doesn’t mean that you’re finished with worrying about taxes. Many...

Wednesday, November 6, 2019

Today 11/6/2019, the IRS has officially released 2020 contribution limits. These limits largely mirrored industry predictions that have come out over the past few months. Plan Type 2020 2019 401(k), 403(b) & 457 Plans Elective...

Monday, October 21, 2019

When is the best time to start taking Social Security benefits? Since you can begin taking Social Security benefits any time between the ages of 62 and 70 (assuming you have worked long enough to qualify), this is a question we hear...

Friday, October 11, 2019

The ABCs of 529 Savings Plans The benefits include a variety of investment options and potential tax advantages. Key Takeaways Alleviate the impact on financial aid. Be more flexible thanks to fewer account restrictions. Control the...

Tuesday, October 1, 2019

HSA and FSA: What’s the Difference? For Some Employers, it’s almost Open Enrollment time! It’s that time of year when you stare blankly at your open enrollment web page or packet full of glossy brochures. Suddenly,...

Tuesday, August 27, 2019

The uptick in market volatility from earlier this month has been gaining momentum. China announced this week that new tariffs will be imposed on $75 billion worth of U.S. goods. ur investment allocation and financial planning strategies st

Monday, August 5, 2019

Stocks have entered another bout of volatility following two months of calmness. The S&P 500 had a stretch of 36 straight trading days without closing up or down more than 1% prior to Wednesday’s 1.08% decline. More volatility..

Monday, June 24, 2019

Financial Advisors in Maine that can help you Avoid Federal Income Taxes on your Required Minimum Distribution.

Tuesday, June 18, 2019

Unfortunately, personal finance has not yet become a required subject in high school or college, so you might be fairly clueless about how to manage your money when you're out in the real world for the first time. To help you get...

Thursday, June 6, 2019

At IIS Financial Services we encourage our clients to review their beneficiary's. To ensure you've named the correct beneficiary and provided the necessary information. you should perform a regular review.

Monday, May 20, 2019

Q: What is a 529 plan?A: Named after Section 529 of the Internal Revenue Code, 529 plans are investment accounts used to pay for a beneficiary’s education expenses. 529 plans are sponsored by states (just about every state...

Tuesday, May 7, 2019

A health savings account is a beneficial tool for retirement planning. Money deposited into an HSA is tax deductible. MILLIONS OF AMERICANS either have or are eligible for health savings accounts, but many fail to understand their...

Wednesday, April 17, 2019

After suffering their worst quarterly decline in a decade to close out 2018, stocks bounced back in the first quarter of 2019 and erased most of their losses. But conditions remain shaky and caution is warranted.

Tuesday, February 19, 2019

As tax filing season kicks into high gear, things are a little different this year since changes to the tax code implemented in 2018 will now become evident to taxpayers across the country when they go to file their returns prior to...

Thursday, January 31, 2019

The debate over Roth vs. Traditional IRA accounts, and which one is better, comes down to two things, mostly: flexibility and taxes. Roth IRA's requires paying taxes up front but offer more flexibility later and may be the best option...

Wednesday, November 28, 2018

As a Small Business Owner, do you qualify for the 20% tax deduction? It’s not too late for the 2018 calendar year to qualify for the full (20%) QBI or Qualified Business Income Deduction.

Wednesday, November 14, 2018

At year end, it’s beneficial to review financial objectives in determining whether any last-minute action is warranted to help ensure you remain on track with your financial goals. Below are some of the more common planning...

Thursday, November 8, 2018

On November 1, 2018 the Internal Revenue Service in Notice 2018-83 announced the cost-of-living adjustments that apply to dollar limits for retirement plans for the tax year beginning on January 1, 2019. As widely anticipated, due to...

Monday, October 22, 2018

Each quarter, we like to review the factors that influenced the financial markets during the previous months of the calendar year and look ahead to what we can expect in the coming months. With so much attention on the recent market...

Tuesday, September 18, 2018

Because September is Life Insurance Awareness Month, we are utilizing this month’s Financial Planning newsletter to answer 5 frequently asked Life Insurance Questions. Question #1: How often should I review my existing policies?...

Thursday, July 12, 2018

At the beginning of each quarter, we like to review the factors that influenced the financial markets during the previous months of the calendar year and look ahead to what we can expect in the coming months. A look back at the 1st...

Thursday, June 14, 2018

With the official start of summer almost upon us, it’s important to take time for a mid-year financial checkup that could yield rewards long after your vacation photos are buried deep in your Facebook feed. Personal and financial...

Friday, April 20, 2018

At the beginning of each quarter, we like to review the factors that influenced the financial markets during the previous quarter and look ahead to what we can expect in the coming months. Quarterly Update In 2017, domestic markets...

Thursday, February 8, 2018

By now, you’ve most likely have read the deadlines, full of scary-sounding words like the rout and storm, plunge and crash. Whatever you want to call it, investors have certainly endured a rough time over the past few days. The...

Thursday, January 25, 2018

Dear Friends, Colleagues, and Clients of IIS Financial Services, At the beginning of every year, we like to review the factors that influenced the financial markets during the previous year, look ahead to what we can expect this coming...

Friday, November 17, 2017

The holiday season is around the corner, and with the busy days ahead, 2018 will be here before you know it. Amidst all the action, we understand how easy it is to wait until the New Year to consider financial changes. But taking a few...

Thursday, October 19, 2017

Monday, October 9th marks the 10-year anniversary of the S&P 500's highest point before the Great Recession. While the ensuing decade has provided quite a rocky road for the markets at times, the recovery is undeniable.[1] In fact,...

Friday, September 22, 2017

On Thursday, September 8, Equifax (one of the nation's three major credit reporting agencies) announced a cybersecurity incident that could potentially impact approximately 143 million U.S. consumers and almost half a million Mainers,...

Sunday, August 20, 2017

The year is more than halfway over. Have you acted on all those financial resolutions that you set at the start of 2017? If not, there's still time to complete them and take other favorable actions. Here are some suggestions:

Wednesday, July 26, 2017

First Half of 2017 Market Recap The S&P 500 and Dow Industrials both extended their quarterly gains to post their strongest first-half performances in since 2013. Technology (+17.23%) and Healthcare (+16.07%) led the six month broad...

Thursday, June 15, 2017

No matter where you are in your life, saving for retirement is likely one of your most important financial goals. But, even if you have professional guidance and a clear strategy for your desired future, you could still be missing some...

Monday, April 17, 2017

The first quarter of 2017 is now behind us, and although we won't have complete economic data for a while, we do know that domestic stocks had a solid start to the year. Going forward in to the second quarter of 2017, we have many data...

Tuesday, February 21, 2017

It's that time of year again as 2016 tax returns need to be filed by April 18th. IIS Financial Services' 2016 and 2017 annual tax planning guides are located below. These free, two-page guides will provide you with quick access to the...

Wednesday, January 18, 2017

Dear Friends, Colleagues, and Clients of IIS Financial Services, Our team at IIS Financial Services hopes you're having a great start to 2017! At the beginning of every year, we like to review the factors that influenced the financial...

Friday, December 16, 2016

The holiday season is a time of year when many of us reflect on our lives. It's also a good time to reflect on your financial plan. We want to provide you with a checklist to review some items that may impact your overall financial...

Monday, September 19, 2016

It’s all too easy to get caught up in ways to save for retirement, but it's also important to keep in mind ways to reduce costs during retirement. With the rising costs of health care and the unpredictability of your future...

Thursday, May 19, 2016

For many Americans, the assets in their Individual Retirement Account represent a significant portion of the wealth they hope to leave to their loved ones. You may have heard that creating a trust and naming it as the beneficiary of...

Thursday, April 28, 2016

Review of Q1 and Start of Q2 2016 After a rocky start to the year, most stocks ended the first quarter slightly higher, which is remarkable considering the negative sentiment that caused stocks to selloff in the early weeks of 2016....

Sunday, January 17, 2016

2016 Annual Newsletter: The Financial Markets and 2015 in Review Dear Friends, Colleagues, and Clients of IIS Financial Services, Now that 2015 is in the rear-view mirror, let's take a look at some of the factors that influenced...